RLX Technology Posts Strong Q1 2024 Earnings

Rlx Technology, Inc. (RLX) has released an update.

RLX Technology Inc. reports a robust Q1 2024 with a significant revenue jump to RMB 551.6 million from RMB 188.9 million year-over-year, and a positive shift from a net loss to a net gain, marking US GAAP net income at RMB 132.6 million. The company attributes its success to international expansion, enhanced supply chain efficiencies, and a healthy increase in gross margins to 25.9%, reflecting a strong start to the year despite regulatory challenges.

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