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2021-06-03

RLX Technology Q1 revenues $366.1 million,up 48.2% YOY<blockquote>RLX科技第一季度营收3.661亿美元，同比增长48.2%</blockquote>

RLX Technology Inc., a leading branded e-vapor company in China, today announced its unaudited finan

RLX Technology Q1 revenues $366.1 million,up 48.2% YOY<blockquote>RLX科技第一季度营收3.661亿美元，同比增长48.2%</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":111365579,"tweetId":"111365579","gmtCreate":1622653442491,"gmtModify":1634099502374,"author":{"id":3555555061650860,"idStr":"3555555061650860","authorId":3555555061650860,"authorIdStr":"3555555061650860","name":"dash9231","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>hm</body></html>","htmlText":"<html><head></head><body>hm</body></html>","text":"hm","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/111365579","repostId":1104336218,"repostType":2,"repost":{"id":"1104336218","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622628284,"share":"https://www.laohu8.com/m/news/1104336218?lang=zh_CN&edition=full","pubTime":"2021-06-02 18:04","market":"us","language":"en","title":"RLX Technology Q1 revenues $366.1 million,up 48.2% YOY<blockquote>RLX科技第一季度营收3.661亿美元，同比增长48.2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104336218","media":"Tiger Newspress","summary":"RLX Technology Inc., a leading branded e-vapor company in China, today announced its unaudited finan","content":"RLX Technology Inc., a leading branded e-vapor company in&nbsp;China, today announced its unaudited financial results for the first quarter endedMarch 31, 2021.<blockquote>国内领先的品牌电子烟公司RLX科技公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote>First Quarter 2021 Financial Highlights<blockquote>2021年第一季度财务摘要</blockquote><ul><li>Net revenues&nbsp;were&nbsp;RMB2,398.5 million(US$366.1 million), representing an increase of 48.2% from&nbsp;RMB1,618.5 millionin the fourth quarter of 2020.</li><li>Gross margin&nbsp;was 46.0%, compared to 42.9% in the fourth quarter of 2020.</li><li>GAAP&nbsp;netloss&nbsp;was&nbsp;RMB267.0 million(US$40.8 million), compared withRMB236.7 millionin the fourth quarter of 2020.</li><li>Non-GAAP net income[1]was&nbsp;RMB610.5 million(US$93.2 million), representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.</li></ul>RLX Technology&nbsp;stock&nbsp;surged&nbsp;5%&nbsp;in premarket trading.<blockquote><ul><li>净收入为人民币23.985亿元（3.661亿美元），较2020年第四季度的人民币16.185亿元增长48.2%。</li><li>毛利率为46.0%，而2020年第四季度为42.9%。</li><li>GAAP 净损失为人民币2.67亿元（4080万美元），而2020年第四季度为人民币2.367亿元。</li><li>非公认会计准则净利润[1]为人民币6.105亿元（9320万美元），较2020年第四季度的人民币4.193亿元增长45.6%。</li></ul>RLX科技股价在盘前交易中飙升5%。</blockquote><img src=\"https://static.tigerbbs.com/f8e41217bab21ae2e0b69073c4d5e48b\" tg-width=\"1302\" tg-height=\"663\"><blockquote></blockquote>\"2021 began, on a solid note, with strong growth in key performance metrics of our business,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"Specifically, our expansion in distribution network fueled a strong sequential growth, further demonstrating sustained user demand for our e-vapor product portfolio.\"<blockquote>RLX科技联合创始人、董事会主席兼首席执行官王英女士表示：“2021年开局良好，我们业务的关键绩效指标强劲增长。”“具体来说，我们分销网络的扩张推动了强劲的环比增长，进一步证明了用户对我们电子蒸汽产品组合的持续需求。”</blockquote>\"As the go-to brand of e-vapor products inChina, we remain dedicated to investing in deepening our scientific research, improving our technology and product development, expanding our distribution network and retail outlets as well as enhancing supply chain and production capabilities. In the first quarter, we opened ourQuality Labto further strengthen our quality assurance and control capabilities, and started developing our second and third exclusive production plants to enhance our production capabilities. We believe we are well positioned to further capture the growth potential in the e-vapor industry inChina,\" Ms. Wang concluded.<blockquote>“作为中国电子烟产品的首选品牌，我们继续致力于投资深化我们的科学研究、改进我们的技术和产品开发、扩大我们的分销网络和零售店，以及增强供应链和生产能力。质量实验室进一步加强我们的质量保证和控制能力，并开始开发我们的第二个和第三个独家生产工厂，以提高我们的生产能力。我们相信，我们处于有利地位，可以进一步抓住中国电子蒸汽行业的增长潜力。”王女士总结道。</blockquote>\"Our robust results in the first quarter of 2021 exemplify our strong capabilities in meeting user demands for reliable, innovative and trustworthy products,\" said Mr.Chao Lu, Chief Financial Officer. \"Building on rapid revenue growth and continued efforts in improving operating leverage, our gross margin and non-GAAP net margin have remained steady in the first quarter. We will continue to pursue user value creation by enhancing our suite of product offerings and strengthening our brand leadership in the market.\"<blockquote>“我们2021年第一季度的强劲业绩证明了我们在满足用户对可靠、创新和值得信赖的产品的需求方面的强大能力，”首席财务官Chao Lu先生表示。“基于收入的快速增长和持续努力提高运营杠杆，我们的毛利率和非公认会计准则净利润率在第一季度保持稳定。我们将继续通过增强我们的产品组合和加强我们的品牌来追求用户价值创造在市场上的领导地位。”</blockquote>First Quarter 2021 Unaudited Financial Results<blockquote>2021年第一季度未经审计的财务业绩</blockquote>Net revenues&nbsp;increased by 48.2% toRMB2,398.5 million(US$366.1 million) in the first quarter of 2021 fromRMB1,618.5 millionin the fourth quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.<blockquote>净收入从2020年第四季度的人民币16.185亿元增长48.2%至2021年第一季度的人民币23.985亿元（3.661亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote>Gross profit&nbsp;increased by 59.1% to&nbsp;RMB1,104.1 million (US$168.5 million) in the first quarter of 2021 fromRMB694.1 millionin the fourth quarter of 2020.<blockquote>毛利从2020年第四季度的人民币6.941亿元增长59.1%至2021年第一季度的人民币11.041亿元（1.685亿美元）。</blockquote>Gross margin&nbsp;increased to 46.0% in the first quarter of 2021, compared to 42.9% in the fourth quarter of 2020.<blockquote>毛利率2021年第一季度增至46.0%，而2020年第四季度为42.9%。</blockquote>Operating expenses&nbsp;wereRMB1,216.0 million(US$185.6 million) in the first quarter of 2021, representing an increase of 42.6% fromRMB852.6 millionin the fourth quarter of 2020.<blockquote>营业费用2021年第一季度为12.16亿元人民币（1.856亿美元），较2020年第四季度的8.526亿元人民币增长42.6%。</blockquote>Selling expensesincreased by 48.2% to&nbsp;RMB291.5 million (US$44.5 million) in the first quarter of 2021 fromRMB196.7 millionin the fourth quarter of 2020. The increase was mainly driven by (i) an increase in salaries and welfare benefits, (ii) an increase in branding material expenses, and (iii) an increase in shipping expenses.<blockquote>销售费用从2020年第四季度的人民币1.967亿元增长48.2%至2021年第一季度的人民币2.915亿元（4450万美元）。该增加主要由于(i)薪金及福利增加、(ii)品牌材料开支增加及(iii)运输开支增加所致。</blockquote>General and administrative expenses&nbsp;increased by 59.5% toRMB712.8 million(US$108.8 million) in the first quarter of 2021 fromRMB447.0 millionin the fourth quarter of 2020. The increase was primarily due to (i) an increase in salaries and welfare benefits, and (ii) an increase in share-based compensation expenses, partially offset by a decrease in legal and other consulting fees.<blockquote>一般及行政开支从2020年第四季度的4.47亿元人民币增长59.5%至2021年第一季度的7.128亿元人民币（1.088亿美元）。该增加主要由于(i)薪金及福利增加，及(ii)以股份为基础的薪酬开支增加，惟部分被法律及其他谘询费用减少所抵销。</blockquote>Research and development expensesincreased by 1.3% to&nbsp;RMB211.6 million (US$32.3 million) in the first quarter of 2021 fromRMB208.9 millionin the fourth quarter of 2020. The increase was primarily driven by an increase in salaries and welfare benefits, partially offset by (i) a decrease in share-based compensation expenses, and (ii) a decrease in material expenses.<blockquote>研发费用从2020年第四季度的人民币2.089亿元增长1.3%至2021年第一季度的人民币2.116亿元（3230万美元）。该增加主要由于薪金及福利增加所致，惟部分被(i)以股份为基础的薪酬开支减少及(ii)重大开支减少所抵销。</blockquote>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB877.5million (US$133.9&nbsp;million) in the first quarter of 2021 andRMB656.1&nbsp;million in the fourth quarter of 2020.<blockquote>2021年第一季度，销售费用、一般及管理费用以及研发费用中确认的股份薪酬费用总额为人民币8.775亿元（1.339亿美元），2020年第四季度为人民币6.561亿元。</blockquote>Loss from operations&nbsp;was&nbsp;RMB111.9&nbsp;million (US$17.1&nbsp;million) in the first quarter of 2021, compared withRMB158.5&nbsp;million in the fourth quarter of 2020.<blockquote>经营亏损2021年第一季度为人民币1.119亿元（1710万美元），而2020年第四季度为人民币1.585亿元。</blockquote>Income tax expense&nbsp;wasRMB176.3&nbsp;million (US$26.9&nbsp;million) in the first quarter of 2021, compared withRMB110.6&nbsp;million in the fourth quarter of 2020, primarily due to an increase in taxable income.<blockquote>所得税费用2021年第一季度为人民币1.763亿元（2690万美元），而2020年第四季度为人民币1.106亿元，主要是由于应税收入增加。</blockquote>GAAPnet loss&nbsp;was&nbsp;RMB267.0&nbsp;million (US$40.8 million) in the first&nbsp;quarter of 2021, compared withRMB236.7&nbsp;million in the fourth quarter of 2020.<blockquote>GAAP净损失2021年第一季度为人民币2.670亿元（4080万美元），而2020年第四季度为人民币2.367亿元。</blockquote>Non-GAAP&nbsp;net income&nbsp;was&nbsp;RMB610.5 million(US$93.2&nbsp;million) in the first&nbsp;quarter of 2021, representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.<blockquote>非公认会计准则净利润2021年第一季度为人民币6.105亿元（9320万美元），较2020年第四季度的人民币4.193亿元增长45.6%。</blockquote>GAAP basic and diluted net loss per American depositary share (\"ADS\")&nbsp;were bothRMB0.174(US$0.027)in the first quarter of 2021, compared toRMB0.165in the fourth quarter of 2020.<blockquote>GAAP每股美国存托股（“ADS”）基本和摊薄净亏损2021年第一季度均为0.174元人民币（0.027美元），而2020年第四季度为0.165元人民币。</blockquote>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]were both&nbsp;RMB0.398(US$0.061)in the first quarter of 2021, compared toRMB0.292in the fourth quarter of 2020.<blockquote>非GAAP每股美国存托凭证基本和摊薄净收入[2]2021年第一季度均为人民币0.398元（0.061美元），而2020年第四季度为人民币0.292元。</blockquote>Balance&nbsp;Sheet<blockquote>资产负债表</blockquote>As ofMarch 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments and long-term bank deposits ofRMB14,437.8&nbsp;million (US$2,203.6&nbsp;million), compared toRMB3,421.4 millionas ofDecember 31, 2020. The increase was primarily due to net proceeds raised in the Company's initial public offering inJanuary 2021. As of&nbsp;March 31, 2021, approximatelyUS$1,647.2 million(RMB10,792.2 million) was denominated in U.S. dollars.<blockquote>截至2021年3月31日，公司的现金及现金等价物、限制性现金、短期银行存款、短期投资和长期银行存款为人民币144.378亿元（22.036亿美元），而截至2020年12月31日为人民币34.214亿元。该增加主要是由于公司2021年1月首次公开募股筹集的所得款项净额所致。截至2021年3月31日，约16.472亿美元（人民币107.922亿元）以美元计价。</blockquote>Business Outlook<blockquote>业务展望</blockquote>For the second quarter of 2021, the Company currently expects net revenues to exceedRMB2,850 million, and expects non-GAAP net income to exceedRMB720 million. The Company's expected GAAP net income will include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company currently also expects gross margin to remain steady.<blockquote>对于2021年第二季度，公司目前预计净收入将超过人民币28.5亿元，预计非公认会计准则净利润将超过人民币7.2亿元。公司的预期GAAP净利润将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司目前还预计毛利率将保持稳定。</blockquote>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.<blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>RLX Technology Q1 revenues $366.1 million,up 48.2% YOY<blockquote>RLX科技第一季度营收3.661亿美元，同比增长48.2%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRLX Technology Q1 revenues $366.1 million,up 48.2% YOY<blockquote>RLX科技第一季度营收3.661亿美元，同比增长48.2%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-06-02 18:04\n</div>\n</a>\n</h4>\n</header>\n<article>\nRLX Technology Inc., a leading branded e-vapor company in&nbsp;China, today announced its unaudited financial results for the first quarter endedMarch 31, 2021.<blockquote>国内领先的品牌电子烟公司RLX科技公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote>First Quarter 2021 Financial Highlights<blockquote>2021年第一季度财务摘要</blockquote><ul><li>Net revenues&nbsp;were&nbsp;RMB2,398.5 million(US$366.1 million), representing an increase of 48.2% from&nbsp;RMB1,618.5 millionin the fourth quarter of 2020.</li><li>Gross margin&nbsp;was 46.0%, compared to 42.9% in the fourth quarter of 2020.</li><li>GAAP&nbsp;netloss&nbsp;was&nbsp;RMB267.0 million(US$40.8 million), compared withRMB236.7 millionin the fourth quarter of 2020.</li><li>Non-GAAP net income[1]was&nbsp;RMB610.5 million(US$93.2 million), representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.</li></ul>RLX Technology&nbsp;stock&nbsp;surged&nbsp;5%&nbsp;in premarket trading.<blockquote><ul><li>净收入为人民币23.985亿元（3.661亿美元），较2020年第四季度的人民币16.185亿元增长48.2%。</li><li>毛利率为46.0%，而2020年第四季度为42.9%。</li><li>GAAP 净损失为人民币2.67亿元（4080万美元），而2020年第四季度为人民币2.367亿元。</li><li>非公认会计准则净利润[1]为人民币6.105亿元（9320万美元），较2020年第四季度的人民币4.193亿元增长45.6%。</li></ul>RLX科技股价在盘前交易中飙升5%。</blockquote><img src=\"https://static.tigerbbs.com/f8e41217bab21ae2e0b69073c4d5e48b\" tg-width=\"1302\" tg-height=\"663\"><blockquote></blockquote>\"2021 began, on a solid note, with strong growth in key performance metrics of our business,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"Specifically, our expansion in distribution network fueled a strong sequential growth, further demonstrating sustained user demand for our e-vapor product portfolio.\"<blockquote>RLX科技联合创始人、董事会主席兼首席执行官王英女士表示：“2021年开局良好，我们业务的关键绩效指标强劲增长。”“具体来说，我们分销网络的扩张推动了强劲的环比增长，进一步证明了用户对我们电子蒸汽产品组合的持续需求。”</blockquote>\"As the go-to brand of e-vapor products inChina, we remain dedicated to investing in deepening our scientific research, improving our technology and product development, expanding our distribution network and retail outlets as well as enhancing supply chain and production capabilities. In the first quarter, we opened ourQuality Labto further strengthen our quality assurance and control capabilities, and started developing our second and third exclusive production plants to enhance our production capabilities. We believe we are well positioned to further capture the growth potential in the e-vapor industry inChina,\" Ms. Wang concluded.<blockquote>“作为中国电子烟产品的首选品牌，我们继续致力于投资深化我们的科学研究、改进我们的技术和产品开发、扩大我们的分销网络和零售店，以及增强供应链和生产能力。质量实验室进一步加强我们的质量保证和控制能力，并开始开发我们的第二个和第三个独家生产工厂，以提高我们的生产能力。我们相信，我们处于有利地位，可以进一步抓住中国电子蒸汽行业的增长潜力。”王女士总结道。</blockquote>\"Our robust results in the first quarter of 2021 exemplify our strong capabilities in meeting user demands for reliable, innovative and trustworthy products,\" said Mr.Chao Lu, Chief Financial Officer. \"Building on rapid revenue growth and continued efforts in improving operating leverage, our gross margin and non-GAAP net margin have remained steady in the first quarter. We will continue to pursue user value creation by enhancing our suite of product offerings and strengthening our brand leadership in the market.\"<blockquote>“我们2021年第一季度的强劲业绩证明了我们在满足用户对可靠、创新和值得信赖的产品的需求方面的强大能力，”首席财务官Chao Lu先生表示。“基于收入的快速增长和持续努力提高运营杠杆，我们的毛利率和非公认会计准则净利润率在第一季度保持稳定。我们将继续通过增强我们的产品组合和加强我们的品牌来追求用户价值创造在市场上的领导地位。”</blockquote>First Quarter 2021 Unaudited Financial Results<blockquote>2021年第一季度未经审计的财务业绩</blockquote>Net revenues&nbsp;increased by 48.2% toRMB2,398.5 million(US$366.1 million) in the first quarter of 2021 fromRMB1,618.5 millionin the fourth quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.<blockquote>净收入从2020年第四季度的人民币16.185亿元增长48.2%至2021年第一季度的人民币23.985亿元（3.661亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote>Gross profit&nbsp;increased by 59.1% to&nbsp;RMB1,104.1 million (US$168.5 million) in the first quarter of 2021 fromRMB694.1 millionin the fourth quarter of 2020.<blockquote>毛利从2020年第四季度的人民币6.941亿元增长59.1%至2021年第一季度的人民币11.041亿元（1.685亿美元）。</blockquote>Gross margin&nbsp;increased to 46.0% in the first quarter of 2021, compared to 42.9% in the fourth quarter of 2020.<blockquote>毛利率2021年第一季度增至46.0%，而2020年第四季度为42.9%。</blockquote>Operating expenses&nbsp;wereRMB1,216.0 million(US$185.6 million) in the first quarter of 2021, representing an increase of 42.6% fromRMB852.6 millionin the fourth quarter of 2020.<blockquote>营业费用2021年第一季度为12.16亿元人民币（1.856亿美元），较2020年第四季度的8.526亿元人民币增长42.6%。</blockquote>Selling expensesincreased by 48.2% to&nbsp;RMB291.5 million (US$44.5 million) in the first quarter of 2021 fromRMB196.7 millionin the fourth quarter of 2020. The increase was mainly driven by (i) an increase in salaries and welfare benefits, (ii) an increase in branding material expenses, and (iii) an increase in shipping expenses.<blockquote>销售费用从2020年第四季度的人民币1.967亿元增长48.2%至2021年第一季度的人民币2.915亿元（4450万美元）。该增加主要由于(i)薪金及福利增加、(ii)品牌材料开支增加及(iii)运输开支增加所致。</blockquote>General and administrative expenses&nbsp;increased by 59.5% toRMB712.8 million(US$108.8 million) in the first quarter of 2021 fromRMB447.0 millionin the fourth quarter of 2020. The increase was primarily due to (i) an increase in salaries and welfare benefits, and (ii) an increase in share-based compensation expenses, partially offset by a decrease in legal and other consulting fees.<blockquote>一般及行政开支从2020年第四季度的4.47亿元人民币增长59.5%至2021年第一季度的7.128亿元人民币（1.088亿美元）。该增加主要由于(i)薪金及福利增加，及(ii)以股份为基础的薪酬开支增加，惟部分被法律及其他谘询费用减少所抵销。</blockquote>Research and development expensesincreased by 1.3% to&nbsp;RMB211.6 million (US$32.3 million) in the first quarter of 2021 fromRMB208.9 millionin the fourth quarter of 2020. The increase was primarily driven by an increase in salaries and welfare benefits, partially offset by (i) a decrease in share-based compensation expenses, and (ii) a decrease in material expenses.<blockquote>研发费用从2020年第四季度的人民币2.089亿元增长1.3%至2021年第一季度的人民币2.116亿元（3230万美元）。该增加主要由于薪金及福利增加所致，惟部分被(i)以股份为基础的薪酬开支减少及(ii)重大开支减少所抵销。</blockquote>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB877.5million (US$133.9&nbsp;million) in the first quarter of 2021 andRMB656.1&nbsp;million in the fourth quarter of 2020.<blockquote>2021年第一季度，销售费用、一般及管理费用以及研发费用中确认的股份薪酬费用总额为人民币8.775亿元（1.339亿美元），2020年第四季度为人民币6.561亿元。</blockquote>Loss from operations&nbsp;was&nbsp;RMB111.9&nbsp;million (US$17.1&nbsp;million) in the first quarter of 2021, compared withRMB158.5&nbsp;million in the fourth quarter of 2020.<blockquote>经营亏损2021年第一季度为人民币1.119亿元（1710万美元），而2020年第四季度为人民币1.585亿元。</blockquote>Income tax expense&nbsp;wasRMB176.3&nbsp;million (US$26.9&nbsp;million) in the first quarter of 2021, compared withRMB110.6&nbsp;million in the fourth quarter of 2020, primarily due to an increase in taxable income.<blockquote>所得税费用2021年第一季度为人民币1.763亿元（2690万美元），而2020年第四季度为人民币1.106亿元，主要是由于应税收入增加。</blockquote>GAAPnet loss&nbsp;was&nbsp;RMB267.0&nbsp;million (US$40.8 million) in the first&nbsp;quarter of 2021, compared withRMB236.7&nbsp;million in the fourth quarter of 2020.<blockquote>GAAP净损失2021年第一季度为人民币2.670亿元（4080万美元），而2020年第四季度为人民币2.367亿元。</blockquote>Non-GAAP&nbsp;net income&nbsp;was&nbsp;RMB610.5 million(US$93.2&nbsp;million) in the first&nbsp;quarter of 2021, representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.<blockquote>非公认会计准则净利润2021年第一季度为人民币6.105亿元（9320万美元），较2020年第四季度的人民币4.193亿元增长45.6%。</blockquote>GAAP basic and diluted net loss per American depositary share (\"ADS\")&nbsp;were bothRMB0.174(US$0.027)in the first quarter of 2021, compared toRMB0.165in the fourth quarter of 2020.<blockquote>GAAP每股美国存托股（“ADS”）基本和摊薄净亏损2021年第一季度均为0.174元人民币（0.027美元），而2020年第四季度为0.165元人民币。</blockquote>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]were both&nbsp;RMB0.398(US$0.061)in the first quarter of 2021, compared toRMB0.292in the fourth quarter of 2020.<blockquote>非GAAP每股美国存托凭证基本和摊薄净收入[2]2021年第一季度均为人民币0.398元（0.061美元），而2020年第四季度为人民币0.292元。</blockquote>Balance&nbsp;Sheet<blockquote>资产负债表</blockquote>As ofMarch 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments and long-term bank deposits ofRMB14,437.8&nbsp;million (US$2,203.6&nbsp;million), compared toRMB3,421.4 millionas ofDecember 31, 2020. The increase was primarily due to net proceeds raised in the Company's initial public offering inJanuary 2021. As of&nbsp;March 31, 2021, approximatelyUS$1,647.2 million(RMB10,792.2 million) was denominated in U.S. dollars.<blockquote>截至2021年3月31日，公司的现金及现金等价物、限制性现金、短期银行存款、短期投资和长期银行存款为人民币144.378亿元（22.036亿美元），而截至2020年12月31日为人民币34.214亿元。该增加主要是由于公司2021年1月首次公开募股筹集的所得款项净额所致。截至2021年3月31日，约16.472亿美元（人民币107.922亿元）以美元计价。</blockquote>Business Outlook<blockquote>业务展望</blockquote>For the second quarter of 2021, the Company currently expects net revenues to exceedRMB2,850 million, and expects non-GAAP net income to exceedRMB720 million. The Company's expected GAAP net income will include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company currently also expects gross margin to remain steady.<blockquote>对于2021年第二季度，公司目前预计净收入将超过人民币28.5亿元，预计非公认会计准则净利润将超过人民币7.2亿元。公司的预期GAAP净利润将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司目前还预计毛利率将保持稳定。</blockquote>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.<blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104336218","content_text":"RLX Technology Inc., a leading branded e-vapor company in China, today announced its unaudited financial results for the first quarter endedMarch 31, 2021.First Quarter 2021 Financial HighlightsNet revenues were RMB2,398.5 million(US$366.1 million), representing an increase of 48.2% from RMB1,618.5 millionin the fourth quarter of 2020.Gross margin was 46.0%, compared to 42.9% in the fourth quarter of 2020.GAAP netloss was RMB267.0 million(US$40.8 million), compared withRMB236.7 millionin the fourth quarter of 2020.Non-GAAP net income[1]was RMB610.5 million(US$93.2 million), representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.RLX Technology stock surged 5% in premarket trading.\"2021 began, on a solid note, with strong growth in key performance metrics of our business,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"Specifically, our expansion in distribution network fueled a strong sequential growth, further demonstrating sustained user demand for our e-vapor product portfolio.\"\"As the go-to brand of e-vapor products inChina, we remain dedicated to investing in deepening our scientific research, improving our technology and product development, expanding our distribution network and retail outlets as well as enhancing supply chain and production capabilities. In the first quarter, we opened ourQuality Labto further strengthen our quality assurance and control capabilities, and started developing our second and third exclusive production plants to enhance our production capabilities. We believe we are well positioned to further capture the growth potential in the e-vapor industry inChina,\" Ms. Wang concluded.\"Our robust results in the first quarter of 2021 exemplify our strong capabilities in meeting user demands for reliable, innovative and trustworthy products,\" said Mr.Chao Lu, Chief Financial Officer. \"Building on rapid revenue growth and continued efforts in improving operating leverage, our gross margin and non-GAAP net margin have remained steady in the first quarter. We will continue to pursue user value creation by enhancing our suite of product offerings and strengthening our brand leadership in the market.\"First Quarter 2021 Unaudited Financial ResultsNet revenues increased by 48.2% toRMB2,398.5 million(US$366.1 million) in the first quarter of 2021 fromRMB1,618.5 millionin the fourth quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.Gross profit increased by 59.1% to RMB1,104.1 million (US$168.5 million) in the first quarter of 2021 fromRMB694.1 millionin the fourth quarter of 2020.Gross margin increased to 46.0% in the first quarter of 2021, compared to 42.9% in the fourth quarter of 2020.Operating expenses wereRMB1,216.0 million(US$185.6 million) in the first quarter of 2021, representing an increase of 42.6% fromRMB852.6 millionin the fourth quarter of 2020.Selling expensesincreased by 48.2% to RMB291.5 million (US$44.5 million) in the first quarter of 2021 fromRMB196.7 millionin the fourth quarter of 2020. The increase was mainly driven by (i) an increase in salaries and welfare benefits, (ii) an increase in branding material expenses, and (iii) an increase in shipping expenses.General and administrative expenses increased by 59.5% toRMB712.8 million(US$108.8 million) in the first quarter of 2021 fromRMB447.0 millionin the fourth quarter of 2020. The increase was primarily due to (i) an increase in salaries and welfare benefits, and (ii) an increase in share-based compensation expenses, partially offset by a decrease in legal and other consulting fees.Research and development expensesincreased by 1.3% to RMB211.6 million (US$32.3 million) in the first quarter of 2021 fromRMB208.9 millionin the fourth quarter of 2020. The increase was primarily driven by an increase in salaries and welfare benefits, partially offset by (i) a decrease in share-based compensation expenses, and (ii) a decrease in material expenses.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB877.5million (US$133.9 million) in the first quarter of 2021 andRMB656.1 million in the fourth quarter of 2020.Loss from operations was RMB111.9 million (US$17.1 million) in the first quarter of 2021, compared withRMB158.5 million in the fourth quarter of 2020.Income tax expense wasRMB176.3 million (US$26.9 million) in the first quarter of 2021, compared withRMB110.6 million in the fourth quarter of 2020, primarily due to an increase in taxable income.GAAPnet loss was RMB267.0 million (US$40.8 million) in the first quarter of 2021, compared withRMB236.7 million in the fourth quarter of 2020.Non-GAAP net income was RMB610.5 million(US$93.2 million) in the first quarter of 2021, representing an increase of 45.6% fromRMB419.3 millionin the fourth quarter of 2020.GAAP basic and diluted net loss per American depositary share (\"ADS\") were bothRMB0.174(US$0.027)in the first quarter of 2021, compared toRMB0.165in the fourth quarter of 2020.Non-GAAP basic and diluted netincome per ADS[2]were both RMB0.398(US$0.061)in the first quarter of 2021, compared toRMB0.292in the fourth quarter of 2020.Balance SheetAs ofMarch 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments and long-term bank deposits ofRMB14,437.8 million (US$2,203.6 million), compared toRMB3,421.4 millionas ofDecember 31, 2020. The increase was primarily due to net proceeds raised in the Company's initial public offering inJanuary 2021. As of March 31, 2021, approximatelyUS$1,647.2 million(RMB10,792.2 million) was denominated in U.S. dollars.Business OutlookFor the second quarter of 2021, the Company currently expects net revenues to exceedRMB2,850 million, and expects non-GAAP net income to exceedRMB720 million. The Company's expected GAAP net income will include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company currently also expects gross margin to remain steady.The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.","news_type":1,"symbols_score_info":{"RLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1493,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}