RLX Technology(US:RLX) Zhi Tong Cai Jing·2025-12-31 15:09Group 1 - The core point of the article is that RLX Technology (RLX.US) has extended its existing stock repurchase plan by 24 months until December 31, 2027, allowing for the repurchase of up to $500 million of its American Depositary Shares (ADS) [1] - The initial stock repurchase plan was established in December 2021 and was previously extended in December 2023 [1] - As of December 31, 2025, the company has repurchased approximately 170 million ADS, totaling around $330 million, leaving a remaining unused quota of approximately $170 million [1] Group 2 - The National Tobacco Monopoly Administration has recently solicited opinions on a draft notice regarding the implementation of electronic cigarette industry policies to further promote supply-demand balance [2] - The draft notice proposes to strengthen the regulation of electronic cigarette production capacity, emphasizing a market demand-oriented approach for supply-side structural reform in the electronic cigarette industry [2] - It outlines that production enterprises must operate within their approved production capacity and prohibits production beyond this limit, with provisions for capacity adjustment requiring re-approval and compliance with licensing procedures [2]