RLX Technology Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	3,617	2,445	1,244	5,280	8,521
Revenue Growth (YoY)	47.97%	96.50%	-76.44%	-38.03%	123.08%
Cost of Revenue	2,434	1,718	856.33	2,975	4,849
Gross Profit	1,184	726.52	387.71	2,305	3,672
Selling, General & Admin	724.04	745.35	711.74	924.61	1,193
Research & Development	131.01	88.31	172.69	317.11	179.91
Operating Expenses	855.05	833.66	884.42	1,242	1,373
Operating Income	328.56	-107.15	-496.71	1,063	2,299
Interest & Investment Income	612.04	666.02	873.58	317.26	166.64
Other Non Operating Income (Expenses)	112.77	99.92	214.87	403.64	194.21
EBT Excluding Unusual Items	1,053	658.8	591.74	1,784	2,660
Gain (Loss) on Sale of Investments	-	-	-	-4	-
Pretax Income	1,053	658.8	591.74	1,780	2,660
Income Tax Expense	118.99	94.46	50.76	371.58	631.43
Earnings From Continuing Operations	934.38	564.34	540.99	1,409	2,028
Minority Interest in Earnings	-12.51	-12.51	-6.66	32.49	-3.41
Net Income	921.87	551.84	534.33	1,441	2,025
Net Income to Common	921.87	551.84	534.33	1,441	2,025
Net Income Growth	67.05%	3.28%	-62.92%	-28.82%	-
Shares Outstanding (Basic)	1,224	1,232	1,311	1,320	1,401
Shares Outstanding (Diluted)	1,224	1,289	1,340	1,328	1,410
Shares Change (YoY)	-5.04%	-3.84%	0.93%	-5.79%	-1.89%
EPS (Basic)	0.75	0.45	0.41	1.09	1.44
EPS (Diluted)	0.70	0.43	0.40	1.08	1.44
EPS Growth	63.08%	7.27%	-63.23%	-24.44%	-
Free Cash Flow	1,105	844.26	170.48	448.19	1,669
Free Cash Flow Per Share	0.90	0.66	0.13	0.34	1.18
Dividend Per Share	-	0.073	0.071	-	-
Dividend Growth	-	2.96%	-	-	-
Gross Margin	32.72%	29.72%	31.17%	43.66%	43.09%
Operating Margin	9.08%	-4.38%	-39.93%	20.14%	26.98%
Profit Margin	25.49%	22.57%	42.95%	27.30%	23.76%
Free Cash Flow Margin	30.54%	34.54%	13.70%	8.49%	19.59%
EBITDA	368.81	-66.9	-450.2	1,145	2,344
EBITDA Margin	10.20%	-2.74%	-36.19%	21.68%	27.51%
D&A For EBITDA	40.25	40.25	46.51	81.41	45.64
EBIT	328.56	-107.15	-496.71	1,063	2,299
EBIT Margin	9.08%	-4.38%	-39.93%	20.14%	26.98%
Effective Tax Rate	11.30%	14.34%	8.58%	20.87%	23.74%
Advertising Expenses	-	15.01	31.9	57.95	192.54

Updated Mar 13, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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