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20-F

Annual Report (Foreign)

RLX Technology Inc. RLX

0001104659-26-047278

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Filed
Apr 23, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Mar 31, 2026 1.55B sh
Shares Diluted FY 2025 · Dec 31, 2025 1.22B sh
Shares Diluted FY 2025 · Dec 31, 2024 1.29B sh
Shares Diluted FY 2025 · Dec 31, 2023 1.34B sh
Stock Repurchased FY 2025 · Dec 31, 2025 $26.3M
Stock Repurchased FY 2025 · Dec 31, 2025 ¥183.93M
Stock Repurchased FY 2025 · Dec 31, 2024 ¥589.36M
Stock Repurchased FY 2025 · Dec 31, 2023 ¥996.63M
Dividends Paid FY 2025 · Dec 31, 2025 $13.08M
Dividends Paid FY 2025 · Dec 31, 2025 ¥91.47M
Dividends Paid FY 2025 · Dec 31, 2024 ¥88.84M
Dividends Paid FY 2025 · Dec 31, 2023 ¥92.38M
Capex FY 2025 · Dec 31, 2025 $16.84M
Capex FY 2025 · Dec 31, 2025 ¥117.73M
Capex FY 2025 · Dec 31, 2024 ¥10.09M
Capex FY 2025 · Dec 31, 2023 ¥28.22M
Operating Cash Flow FY 2025 · Dec 31, 2025 $157.95M
Operating Cash Flow FY 2025 · Dec 31, 2025 ¥1.1B
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥854.35M
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥198.7M
Short Term Debt FY 2025 · Dec 31, 2025 $13.17M
Short Term Debt FY 2025 · Dec 31, 2025 ¥92.1M
Short Term Debt FY 2025 · Dec 31, 2024 ¥40M
Short Term Investments FY 2025 · Dec 31, 2025 $332.7M
Short Term Investments FY 2025 · Dec 31, 2025 ¥2.33B
Short Term Investments FY 2025 · Dec 31, 2024 ¥719.76M
Cash And Equivalents FY 2025 · Dec 31, 2025 $767.49M
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥5.37B
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥5.59B
Cash And Equivalents FY 2025 · Dec 31, 2023 ¥2.39B
Stockholders Equity FY 2025 · Dec 31, 2025 $2.24B
Stockholders Equity FY 2025 · Dec 31, 2025 ¥15.63B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥15.99B
Current Liabilities FY 2025 · Dec 31, 2025 $281M
Current Liabilities FY 2025 · Dec 31, 2025 ¥1.97B
Current Liabilities FY 2025 · Dec 31, 2024 ¥857.85M
Total Liabilities FY 2025 · Dec 31, 2025 $314.31M
Total Liabilities FY 2025 · Dec 31, 2025 ¥2.2B
Total Liabilities FY 2025 · Dec 31, 2024 ¥881.1M
Current Assets FY 2025 · Dec 31, 2025 $1.6B
Current Assets FY 2025 · Dec 31, 2025 ¥11.2B
Current Assets FY 2025 · Dec 31, 2024 ¥9.3B
Total Assets FY 2025 · Dec 31, 2025 $2.56B
Total Assets FY 2025 · Dec 31, 2025 ¥17.93B
Total Assets FY 2025 · Dec 31, 2024 ¥16.87B
Eps Diluted FY 2025 · Dec 31, 2025 $0.10
Eps Diluted FY 2025 · Dec 31, 2025 ¥0.70
Eps Diluted FY 2025 · Dec 31, 2024 ¥0.43
Eps Diluted FY 2025 · Dec 31, 2023 ¥0.40
Eps Basic FY 2025 · Dec 31, 2025 $0.10
Eps Basic FY 2025 · Dec 31, 2025 ¥0.70
Eps Basic FY 2025 · Dec 31, 2024 ¥0.45
Eps Basic FY 2025 · Dec 31, 2023 ¥0.41
Sga Expense FY 2025 · Dec 31, 2025 $48.18M
Sga Expense FY 2025 · Dec 31, 2025 ¥336.92M
Sga Expense FY 2025 · Dec 31, 2024 ¥515.89M
Sga Expense FY 2025 · Dec 31, 2023 ¥498.02M
Rd Expense FY 2025 · Dec 31, 2025 $18.73M
Rd Expense FY 2025 · Dec 31, 2025 ¥131.01M
Rd Expense FY 2025 · Dec 31, 2024 ¥88.31M
Rd Expense FY 2025 · Dec 31, 2023 ¥172.69M
Net Income FY 2025 · Dec 31, 2025 $131.83M
Net Income FY 2025 · Dec 31, 2025 ¥921.87M
Net Income FY 2025 · Dec 31, 2024 ¥551.84M
Net Income FY 2025 · Dec 31, 2023 ¥534.33M
Operating Income FY 2025 · Dec 31, 2025 $46.98M
Operating Income FY 2025 · Dec 31, 2025 ¥328.56M
Operating Income FY 2025 · Dec 31, 2024 −¥107.15M
Operating Income FY 2025 · Dec 31, 2023 −¥496.71M
Gross Profit FY 2025 · Dec 31, 2025 $169.25M
Gross Profit FY 2025 · Dec 31, 2025 ¥1.18B
Gross Profit FY 2025 · Dec 31, 2024 ¥726.52M
Gross Profit FY 2025 · Dec 31, 2023 ¥387.71M
Cost Of Revenue FY 2025 · Dec 31, 2025 $348.01M
Cost Of Revenue FY 2025 · Dec 31, 2025 ¥2.43B
Cost Of Revenue FY 2025 · Dec 31, 2024 ¥1.72B
Cost Of Revenue FY 2025 · Dec 31, 2023 ¥856.33M
Revenue FY 2025 · Dec 31, 2025 $566.11M
Revenue FY 2025 · Dec 31, 2025 ¥3.96B
Revenue FY 2025 · Dec 31, 2024 ¥2.75B
Revenue FY 2025 · Dec 31, 2023 ¥1.59B