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	Mar '26 Mar 31, 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	4,263	5,367	5,593	2,390	1,269	5,209
Short-Term Investments	5,237	4,637	2,900	5,724	9,520	7,211
Cash & Short-Term Investments	9,500	10,004	8,493	8,115	10,788	12,420
Cash Growth	16.38%	17.79%	4.66%	-24.78%	-13.14%	401.32%
Accounts Receivable	888.24	380.33	417.64	164.7	54.38	25.97
Other Receivables	-	175.3	124.88	478.31	151.32	139.5
Receivables	888.24	555.63	542.52	643.01	205.7	165.46
Inventory	372.44	297.68	142.55	144.85	130.9	589.09
Prepaid Expenses	-	27.04	10.89	7.84	9	20.99
Restricted Cash	175	177.87	50.87	29.76	20.57	0.5
Other Current Assets	615.47	141.57	61.02	43.7	43.73	754.93
Total Current Assets	11,551	11,204	9,301	8,984	11,198	13,951
Property, Plant & Equipment	325.67	328.41	74.9	129.92	162.88	319.41
Long-Term Investments	4,863	5,558	7,335	7,002	4,933	2,017
Goodwill	563.4	567.18	59.58	66.51	-	-
Other Intangible Assets	194.82	213.14	52.8	69.78	7.55	8.37
Long-Term Deferred Tax Assets	35.82	29.1	38.07	58.26	63.89	20.86
Other Long-Term Assets	24.17	29.41	9.91	4.87	13.46	48.96
Total Assets	17,558	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	Mar '26 Mar 31, 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	628.32	403.81	458.55	321.74	269.35	1,289
Accrued Expenses	227.34	212.2	169.8	110.17	238.25	262
Short-Term Debt	135.17	92.1	40	41.11	-	-
Current Portion of Long-Term Debt	-	15.49	-	-	-	-
Current Portion of Leases	25.93	28.59	11.45	29.44	45.96	80.58
Current Income Taxes Payable	164.2	159.72	126.15	77.16	109.68	597.76
Current Unearned Revenue	80.05	84	10.61	49.59	75.23	286.65
Other Current Liabilities	92.66	969.16	41.29	39.47	51.38	221.79
Total Current Liabilities	1,354	1,965	857.85	668.67	789.83	2,738
Long-Term Leases	50.48	55.67	7.05	24.42	39.97	104.23
Long-Term Deferred Tax Liabilities	102.95	112.91	16.2	23.59	8.65	4.51
Other Long-Term Liabilities	58.21	64.29	-	-	-	-
Total Liabilities	1,565	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	Mar '26 Mar 31, 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	15,883	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	15,883	15,634	15,988	15,609	15,569	13,515
Minority Interest	109.56	97.86	1.74	-10.98	-28.69	3.8
Shareholders' Equity	15,993	15,732	15,990	15,598	15,540	13,519
Total Liabilities & Equity	17,558	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	Mar '26 Mar 31, 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	211.58	191.85	58.5	94.96	85.92	184.81
Net Cash (Debt)	9,289	9,812	8,435	8,020	10,702	12,235
Net Cash Growth	14.97%	16.33%	5.17%	-25.07%	-12.53%	415.87%
Net Cash Per Share	7.58	8.02	6.54	5.98	8.06	8.68
Filing Date Shares Outstanding	1,232	1,222	1,218	1,272	1,313	1,548
Total Common Shares Outstanding	1,232	1,195	1,218	1,272	1,313	1,566
Working Capital	10,198	9,239	8,443	8,315	10,408	11,213
Book Value Per Share	12.89	13.08	13.12	12.28	11.86	8.63
Tangible Book Value	15,125	14,853	15,876	15,473	15,562	13,507
Tangible Book Value Per Share	12.27	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

SEC Filings: 10-K · 10-Q