RLX Technology announces unaudited Q1 financial results

RLX Technology Inc, a branded e-vapor company in China, announced recently its unaudited financial results for the first quarter ended March 31, 2021.

"2021 began on a solid note, with strong growth in key performance metrics of our business," said Wang Ying, co-founder, chairperson of the Board of Directors and CEO of RLX Technology.

"Specifically, our expansion in distribution network fueled a strong sequential growth, further demonstrating sustained user demand for our e-vapor product portfolio."

"As the go-to brand of e-vapor products in China, we remain dedicated to investing in deepening our scientific research, improving our technology and product development, expanding our distribution network and retail outlets as well as enhancing supply chain and production capabilities. In the first quarter, we opened our Quality Lab to further strengthen our quality assurance and control capabilities, and started developing our second and third exclusive production plants to enhance our production capabilities. We believe we are well positioned to further capture the growth potential in the e-vapor industry in China," Wang added.

"Our robust results in the first quarter of 2021 exemplify our strong capabilities in meeting user demands for reliable, innovative and trustworthy products," said Lu Chao, chief financial officer.

"Building on rapid revenue growth and continued efforts in improving operating leverage, our gross margin and non-GAAP net margin have remained steady in the first quarter. We will continue to pursue user value creation by enhancing our suite of product offerings and strengthening our brand leadership in the market."