RLX Technology reported its unaudited financial results for the second quarter of 2026 on August 14, showing net revenues of RMB 1.0105 billion ($148.9 million), a 14.8% increase year-over-year. Under non-GAAP measures, net profit for the quarter stood at RMB 238.8 million ($35.19 million), compared to RMB 291.2 million in the same period last year.
Wang Ying, founder, chairperson, and CEO of RLX Technology, stated that the company maintained steady performance in Q2 2026 while continuing to advance its global business expansion. As the industry matures, competitive advantages are shifting from pure product innovation to include retail execution, channel coverage, and shelf space share. In response, the company is optimizing its global channel strategy, deepening terminal operations in Asia, and pursuing a "dual-engine" approach in Europe. This strategy combines organic growth with active strategic investment opportunities to enhance channel autonomy and market coverage. The company is also focusing on regulated overseas markets, developing a broader portfolio of smoke-free products, scaling new categories like oral nicotine products, and exploring other novel smoke-free segments. Looking ahead, the company is confident in driving long-term sustainable growth by prioritizing user needs, improving channel capabilities, and innovating across multiple product categories.
Lu Chao, CFO of RLX Technology, noted that the company generated net revenues of RMB 1.01 billion in Q2 2026, up 14.8% year-over-year, with gross profit rising 47.8% to RMB 360 million. As previously anticipated and disclosed, net revenues and gross profit declined compared to the first quarter, primarily due to one-time growth factors from export policy adjustments included in Q1 results. Despite this, the company's gross margin improved further to 35.4% in Q2, a year-over-year increase of 7.9 percentage points and a sequential rise of 3.6 percentage points, reflecting continued improvement in profitability. In July 2026, the company completed the acquisition of a 51% stake in a leading smoke-free product and consumer goods distributor in Western Europe. This distributor possesses an extensive offline distribution network and a proprietary B2B digital platform covering tens of thousands of retail outlets, which will significantly enhance the company's channel coverage and terminal reach in the European market. Moving forward, the company will maintain prudent capital allocation, actively pursue strategic investments, and continue to deliver shareholder returns while achieving long-term value growth.
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