RLX Technology Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	4,629	5,367	5,593	2,390	1,269	5,209
Short-Term Investments	4,130	4,637	2,900	5,724	9,520	7,211
Cash & Short-Term Investments	8,759	10,004	8,493	8,115	10,788	12,420
Cash Growth	18.15%	17.79%	4.66%	-24.78%	-13.14%	401.32%
Accounts Receivable	343.33	380.33	417.64	164.7	54.38	25.97
Other Receivables	483.38	175.3	124.88	478.31	151.32	139.5
Receivables	826.71	555.63	542.52	643.01	205.7	165.46
Inventory	416.25	297.68	142.55	144.85	130.9	589.09
Prepaid Expenses	-	27.04	10.89	7.84	9	20.99
Restricted Cash	210.88	177.87	50.87	29.76	20.57	0.5
Other Current Assets	577.28	141.57	61.02	43.7	43.73	754.93
Total Current Assets	10,790	11,204	9,301	8,984	11,198	13,951
Property, Plant & Equipment	339.63	328.41	74.9	129.92	162.88	319.41
Long-Term Investments	4,922	5,558	7,335	7,002	4,933	2,017
Goodwill	561.67	567.18	59.58	66.51	-	-
Other Intangible Assets	183.5	213.14	52.8	69.78	7.55	8.37
Long-Term Deferred Tax Assets	43.81	29.1	38.07	58.26	63.89	20.86
Other Long-Term Assets	10.63	29.41	9.91	4.87	13.46	48.96
Total Assets	16,851	17,930	16,871	16,315	16,379	16,365

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Accounts Payable	229.44	403.81	458.55	321.74	269.35	1,289
Accrued Expenses	214.63	212.2	169.8	110.17	238.25	262
Short-Term Debt	165.17	92.1	40	41.11	-	-
Current Portion of Long-Term Debt	-	15.49	-	-	-	-
Current Portion of Leases	22.77	28.59	11.45	29.44	45.96	80.58
Current Income Taxes Payable	192.9	159.72	126.15	77.16	109.68	597.76
Current Unearned Revenue	82.31	84	10.61	49.59	75.23	286.65
Other Current Liabilities	109.88	969.16	41.29	39.47	51.38	221.79
Total Current Liabilities	1,017	1,965	857.85	668.67	789.83	2,738
Long-Term Leases	56.11	55.67	7.05	24.42	39.97	104.23
Long-Term Deferred Tax Liabilities	98.17	112.91	16.2	23.59	8.65	4.51
Other Long-Term Liabilities	53.65	64.29	-	-	-	-
Total Liabilities	1,225	2,198	881.1	716.68	838.45	2,846

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Common Stock	15,512	0.1	0.1	0.1	0.1	0.1
Additional Paid-In Capital	-	12,910	12,724	12,115	12,062	11,881
Retained Earnings	-	4,147	4,247	3,793	3,352	1,911
Treasury Stock	-	-2,286	-2,106	-1,281	-627.89	-127.52
Comprehensive Income & Other	-	862.66	1,123	981.3	782.14	-149.87
Total Common Equity	15,512	15,634	15,988	15,609	15,569	13,515
Minority Interest	113.93	97.86	1.74	-10.98	-28.69	3.8
Shareholders' Equity	15,626	15,732	15,990	15,598	15,540	13,519
Total Liabilities & Equity	16,851	17,930	16,871	16,315	16,379	16,365

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Total Debt	244.05	191.85	58.5	94.96	85.92	184.81
Net Cash (Debt)	8,515	9,812	8,435	8,020	10,702	12,235
Net Cash Growth	17.36%	16.33%	5.17%	-25.07%	-12.53%	415.87%
Net Cash Per Share	6.94	8.02	6.54	5.98	8.06	8.68
Filing Date Shares Outstanding	1,226	1,222	1,218	1,272	1,313	1,548
Total Common Shares Outstanding	1,226	1,195	1,218	1,272	1,313	1,566
Working Capital	9,773	9,239	8,443	8,315	10,408	11,213
Book Value Per Share	12.65	13.08	13.12	12.28	11.86	8.63
Tangible Book Value	14,767	14,853	15,876	15,473	15,562	13,507
Tangible Book Value Per Share	12.04	12.43	13.03	12.17	11.85	8.63
Land	-	17.93	7.5	8.38	-	-
Buildings	-	-	-	8.33	-	-
Machinery	-	323.83	147.03	133.05	131.86	139.81
Construction In Progress	-	7.06	1.76	-	-	-
Leasehold Improvements	-	196.07	97.77	97.51	94.34	65.81