Overview

* RLX Technology Q3 2025 net rev rises 49.3% yr/yr, driven by international expansion

* Gross margin improves to 31.2% in Q3 2025 from 27.2% in Q3 2024

* Company announces US$0.1 per ADS cash dividend, continuing capital return to shareholders

Outlook

* Company did not provide specific financial guidance for future quarters or full year

Result Drivers

* INTERNATIONAL EXPANSION - Co cites investments in Asia Pacific and European markets as key revenue drivers

* CHINA RECOVERY - Enhanced customs enforcement in China helped stabilize market, aiding business recovery

* NEW PRODUCT LAUNCH - Successful rollout of modern-oral product line in UK supports growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 RMB 1.13

Revenue bln

Q3 RMB

Adjusted 295.40

Net mln

Income

Q3 Net RMB

Income 206.80

mln

Q3 Gross 31.20%

Margin

Q3 Gross RMB

Profit 352.60

mln

Q3 RMB

Operatin 259.30

g mln

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the tobacco peer group is "buy"

* Wall Street's median 12-month price target for RLX Technology Inc ( RLX ) is $2.88, about 19% above its November 13 closing price of $2.33

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)