RLX Technology Reports 2022 Fiscal Year Financial Performance

Mar.10.2023

RLX Technology released unaudited financial results showing a year-on-year decline in revenue and profit for 2022.

On March 10th, RLX Technology, also known as Yuè Kè, announced its unaudited financial results for the year ended December 31st, 2022, and its Q4 financial results on the NASDAQ website. The company's consolidated financial report showed that its net revenue for the full year of 2022 was RMB 5.33 billion, a 37.41% decrease compared to RMB 8.52 billion in 2021. Its net profit for 2022 was RMB 1.409 billion, compared to RMB 2.028 billion in 2021.

Financial summary for the fourth quarter of 2022.

The net revenue for the fiscal year 2022 was 340 million yuan (49.3 million USD), which is a decrease of 82.14% compared to the same period in 2021, where it was 1.9044 billion yuan. The gross profit margin for the year was 43.6%, compared to last year's 40.2%. The net loss under US GAAP was 225.1 million yuan (32.6 million USD), while last year's net profit under US GAAP was 494.4 million yuan. The non-US GAAP net income for the year was 249.7 million yuan (36.2 million USD), compared to last year's 536.5 million yuan. This is a summary of the financial results for the fiscal year 2022.

In the fiscal year of 2022, the net revenue for the company was 53.328 billion Yuan (7.732 billion USD), a decrease from the previous year's revenue of 85.210 billion Yuan. The gross profit margin for 2022 was 43.2%, slightly higher than the previous year's margin of 43.1%. Under the Generally Accepted Accounting Principles in the United States, the net revenue for 2022 was 14.087 billion Yuan (2.042 billion USD), down from the previous year's revenue of 20.281 billion Yuan. The non-US GAAP net revenue for 2022 was 15.749 billion Yuan (2.283 billion USD), a decrease from the previous year's revenue of 22.515 billion Yuan.

References:

RLX Technology has released its financial results for the fourth quarter and fiscal year 2022, which have not been audited.

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