Net revenue

RLX net sales jump in 2021

RLX Technology’s net revenue increased by 123.1% to RMB 8.52 billion ($1.34 billion) in fiscal 2021. The increase was primarily due to an increase in net sales revenue to offline distributors, mainly due to the company’s expansion. distribution and retail network (China banned internet sales of vaping products in October 2019).

Gross profit rose 140.4% to RMB 3.67 billion, while gross margin increased to 43.1% from 40% a year earlier.

For the fourth quarter of 2021, RLX Technology reported net revenue of RMB 1.9 billion, up 17.7% from the comparable quarter of 2020. Gross margin was 40.2%, compared to 42, 9% in the same period of 2020.

“We are pleased with our operational and financial performance in the fourth quarter, ending 2021 on a strong note. throughout the year on optimizing our distribution and retail channels, investing in scientific research, new product development and digitalization upgrades,” said Ms. Ying (Kate) Wang. , co-founder, chairman of the board and CEO of RLX Technology, in a press release.

“Fiscal 2021 was defined by revenue growth of 123.1% year over year, further solidifying our leadership as the trusted e-vapor brand for adult smokers. Looking ahead, we are confident that the company is well positioned to further explore the enormous potential of this large but growing industry and achieve future growth in 2022 and beyond.