RLX Technology(US:RLX) Zheng Quan Shi Bao Wang·2025-11-14 11:29Core Insights - RLX Technology reported Q3 financial results with net revenue reaching RMB 1.1293 billion (USD 158.6 million), a year-over-year increase of 49.3% and a quarter-over-quarter increase of 28.3% [1] - Adjusted net profit (non-GAAP) was RMB 295.4 million (USD 41.5 million), reflecting a year-over-year growth of 12.1% [1] - Gross margin improved from 27.2% in Q3 2024 to 31.2% in Q3 2025 [1] Revenue Contribution - International business accounted for 72% of total revenue, serving as the main driver of performance [1] - Growth was supported by high-return investments in the European market, increased market share in existing international markets, and steady recovery of domestic business in China [1] Strategic Initiatives - The company has strengthened its leading position in key markets in Asia-Pacific and Europe by increasing investment in retail networks and launching localized products [1] - The launch of self-developed oral dissolvable film products in the UK marks a significant step in product diversification [1] Financial Health - The company maintains a robust financial position, laying the groundwork for ongoing shareholder returns [1] - To date, RLX Technology has returned over USD 500 million to shareholders through share buybacks and cash dividends [1]