RLX Technology falls on dour first quarter results

RLX Technology

17/05/2023 11:42

**  U.S.-listed shares of Chinese vaping company RLX
Technology  RLX.N  down 14% at $2.02 premarket 
    ** Reports Q1 operating loss of RMB373.2 mln ($54.3 mln) vs
income from operations of RMB623.4 mln a year earlier
    ** Rev falls to RMB188.9 mln from RMB1714.5 last year due to
discontinuation of older products and negative impact of
illegal-flavored products in the market
    ** Posts non-GAAP net income of RMB183.6 for Q1 2023,
compared with RMB361.8 mln in Q1 2022
    ** Says sales are showing signs of recovery following
regulators' actions to combat illegal products since March 2023
    ** Up to last close, stock has risen 2.17%

 (Reporting by Raechel Thankam Job)
 ((RaechelThankam.Job@thomsonreuters.com;))