RLX Technology Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	3,273	2,445	1,244	5,280	8,521	3,820
Revenue Growth (YoY)	51.58%	96.50%	-76.44%	-38.03%	123.08%	146.54%
Cost of Revenue	2,227	1,718	856.33	2,975	4,849	2,292
Gross Profit	1,045	726.52	387.71	2,305	3,672	1,528
Selling, General & Admin	716.65	745.35	711.74	924.61	1,193	1,215
Research & Development	130.75	88.31	172.69	317.11	179.91	299.29
Operating Expenses	847.4	833.66	884.42	1,242	1,373	1,514
Operating Income	198.1	-107.15	-496.71	1,063	2,299	13.15
Interest & Investment Income	618.01	666.02	873.58	317.26	166.64	52.76
Other Non Operating Income (Expenses)	88.23	99.92	214.87	403.64	194.21	37.52
EBT Excluding Unusual Items	904.35	658.8	591.74	1,784	2,660	103.43
Gain (Loss) on Sale of Investments	-	-	-	-4	-	-1
Pretax Income	904.35	658.8	591.74	1,780	2,660	102.43
Income Tax Expense	128.9	94.46	50.76	371.58	631.43	230.53
Earnings From Continuing Operations	775.44	564.34	540.99	1,409	2,028	-128.1
Minority Interest in Earnings	-11.16	-12.51	-6.66	32.49	-3.41	-
Net Income	764.28	551.84	534.33	1,441	2,025	-128.1
Net Income to Common	764.28	551.84	534.33	1,441	2,025	-128.1
Net Income Growth	18.80%	3.28%	-62.92%	-28.82%	-	-
Shares Outstanding (Basic)	1,222	1,232	1,311	1,320	1,401	1,437
Shares Outstanding (Diluted)	1,295	1,289	1,340	1,328	1,410	1,437
Shares Change (YoY)	-0.38%	-3.84%	0.93%	-5.79%	-1.89%	-
EPS (Basic)	0.63	0.45	0.41	1.09	1.44	-0.09
EPS (Diluted)	0.59	0.43	0.40	1.08	1.44	-0.09
EPS Growth	19.33%	7.27%	-63.23%	-24.44%	-	-
Free Cash Flow	1,281	844.26	170.48	448.19	1,669	2,577
Free Cash Flow Per Share	0.99	0.66	0.13	0.34	1.18	1.79
Dividend Per Share	0.786	0.073	0.071	-	-	-
Dividend Growth	1055.88%	2.96%	-	-	-	-
Gross Margin	31.95%	29.72%	31.17%	43.66%	43.09%	39.99%
Operating Margin	6.05%	-4.38%	-39.93%	20.14%	26.98%	0.34%
Profit Margin	23.35%	22.57%	42.95%	27.30%	23.76%	-3.35%
Free Cash Flow Margin	39.15%	34.54%	13.70%	8.49%	19.59%	67.46%
EBITDA	233.65	-66.9	-450.2	1,145	2,344	36.22
EBITDA Margin	7.14%	-2.74%	-36.19%	21.68%	27.51%	0.95%
D&A For EBITDA	35.55	40.25	46.51	81.41	45.64	23.07
EBIT	198.1	-107.15	-496.71	1,063	2,299	13.15
EBIT Margin	6.05%	-4.38%	-39.93%	20.14%	26.98%	0.34%
Effective Tax Rate	14.25%	14.34%	8.58%	20.87%	23.74%	225.06%
Advertising Expenses	-	15.01	31.9	57.95	192.54	88.12

Updated Nov 14, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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