The financial report of RLX Technology Inc. for the first quarter of 2025 shows that its net revenue for the first quarter of 2025 was 810 million yuan (110 million US dollars), a decrease of 0.6% quarter-on-quarter and an increase of 46.5% year-on-year. Under non-GAAP, the adjusted net profit in the first quarter was 250 million yuan (34.6 million US dollars), a decrease of 0.2% quarter-on-quarter and an increase of 21.0% year-on-year.
Quick Take: Misty Core Technologies Q1 2025 Financial Results
On May 16th, RLX Technology Inc. (NYSE: RLX) released its unaudited financial report for the first quarter of 2025. The financial report shows that in the first quarter of 2025, Fog Core Technology’s net revenue was 810 million yuan (110 million US dollars), a 0.6% decrease from the previous quarter and a 46.5% increase year-on-year. Under non-GAAP, the adjusted net profit in the first quarter was 250 million yuan (34.6 million US dollars), a decrease of 0.2% quarter-on-quarter and an increase of 21.0% year-on-year.
Revenue up 46.5% year-over-year to $110 million
The gross profit in the first quarter of 2025 was 230 million yuan (31.83 million US dollars), with a gross profit margin of 28.6%, representing a year-on-year increase of 2.7%. Under non-GAAP, the adjusted operating profit for the first quarter of 2025 was RMB 110 million (US$ $14.58 million).
As of March 31, 2025, Wuxin Technology had a total of RMB 16.16 billion (US$ $2.23 billion) in cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits and long-term investment securities.
Net profit up 21% year-over-year to $34.6 million
Wang Ying, the founder, chairman and CEO of Wuxin Technology, said,
- The international macro environment continues to face complex challenges. In the first quarter, the export value of China’s vape industry decreased year-on-year. Despite this, we still delivered outstanding results. In the coming period, under the combined influence of changes in the macro environment and regulatory policies, the global e-cigarette market will continue to accelerate its evolution. As a trusted e-cigarette brand, we possess acute market insight, industry-leading product R&D capabilities, a stable inventory management system, and a diversified business layout. The company is confident in seizing growth opportunities in the rapidly changing global market, continuously providing users with high-quality and compliant products, and maintaining a leading position in the industry.
Lu Chao, the CFO of Wuxin Technology, stated
- Thanks to the efficient implementation of the strategy and the promotion of overseas market expansion, the company continued to achieve year-on-year profit growth in the first quarter of 2025, with net revenue increasing by 46.5% year-on-year to 810 million yuan. Due to the effective implementation of cost optimization measures, the operating profit under non-GAAP reached 110 million yuan. Although we will still face challenges such as regulatory policy changes and market competition in the global market in the future, we are confident that we can continuously promote high-quality business development and enhance shareholder value through strong strategic execution.
