On May 16th, RELX Technology (RLX Technology Inc.) (NYSE: RLX) released its unaudited financial report for the first quarter of 2025. According to the report, RELX Technology's net revenue for the first quarter of 2025 was 810 million yuan (110 million US dollars), down 0.6% compared to the previous quarter and up 46.5% year-on-year. Under non-US GAAP, the adjusted net profit for the first quarter was 250 million yuan (34.6 million US dollars), down 0.2% compared to the previous quarter and up 21.0% year-on-year.
In the first quarter of 2025, the gross profit was 230 million yuan (31.83 million US dollars) with a gross profit margin of 28.6%, an increase of 2.7% year-on-year. Under non-US GAAP, the adjusted operating profit for the first quarter of 2025 was 110 million yuan (14.58 million US dollars).
As of March 31, 2025, RELX Technology had a total of 16.16 billion RMB (2.23 billion USD) in cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits, and long-term investment securities.
Founder, Chairman, and CEO of RELX Technology, Wang Ying, stated that：
"The international macro environment continues to face complex challenges, with the export amount of China's e-cigarette industry in the first quarter dropping year-on-year. Despite this, we still achieved impressive results. In the near future, under the combined effects of macro environment and regulatory policy changes, the global e-cigarette market will continue to evolve rapidly. As a trusted e-cigarette brand, we have keen market insights, industry-leading product development capabilities, robust inventory management systems, and diversified business layout. The company is confident in seizing growth opportunities in the rapidly changing global market, continuously providing users with high-quality, compliant products, and maintaining a leading position in the industry."
RELX Technology CFO Chao Lu said,
"Thanks to the efficient implementation of the strategic plan and the expansion of overseas markets, 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. Operating profit under non-US GAAP reached 110 million yuan due to effective cost optimization measures. Despite facing challenges such as regulatory changes and market competition in the global market, we are confident that we can drive high-quality business development and increase shareholder value through strong strategic execution."
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