China's e-vapor products maker RLX Q3 revenue jumps on international growth

RLX Technology

14/11/2025 09:38

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/Miss
Actual
Consensus Estimate
Q3 Revenue
RMB 1.13 bln
Q3 Adjusted Net Income
RMB 295.40 mln
Q3 Net Income
RMB 206.80 mln
Q3 Gross Margin
31.20%
Q3 Gross Profit
RMB 352.60 mln
Q3 Operating Expenses
RMB 259.30 mln


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 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: ID:nPn5Qs1dfa

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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.)