BEIJING, March 26, 2021
/PRNewswire/ -- RLX Technology Inc. ("RLX Technology" or the
"Company") (NYSE: RLX), a leading branded e-vapor company in
China, today announced its
unaudited financial results for the fourth quarter and the fiscal
year ended December 31, 2020.
Fourth Quarter 2020 Financial Highlights
- Net revenues were RMB1,618.5
million (US$248.0 million),
representing an increase of 44.5% from RMB1,120.2 million in the third quarter of
2020.
- Gross margin was 42.9%, compared to 39.1% in the third
quarter of 2020.
- Net loss was RMB236.7
million (US$36.3 million),
compared with net income of RMB7.8
million in the third quarter of 2020.
- Non-GAAP net income[1] was RMB419.3 million (US$64.3
million).
[1]
Non-GAAP net (loss)/income is a non-GAAP financial measure. For
more information on the Company's non-GAAP financial measures,
please see the section "Non-GAAP Financial Measures" and the table
captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results"
set forth at the end of this press release.
|
Fiscal Year 2020 Financial Highlights
- Net revenues were RMB3,819.7
million (US$585.4 million) in
fiscal year 2020, representing an increase of 146.5% from
RMB1,549.4 million in the prior
year.
- Gross margin was 40.0% in fiscal year 2020, compared to
37.5% in the prior year.
- Net loss was RMB128.1
million (US$19.6 million) in
fiscal year 2020, compared with net income of RMB47.7 million in the prior year.
- Non-GAAP net income was RMB801.0
million (US$122.8
million).
"We are pleased to report financial and operational results for
the fourth quarter of 2020. Throughout 2020, despite challenges
stemming from COVID-19, our business remained resilient, and our
management team maintained our focus on building and strengthening
RELX as a trusted brand for adult smokers," said Ms. Ying (Kate) Wang, Co-founder, Chairperson of the
Board of Directors and Chief Executive Officer of RLX Technology.
"We continue to consistently uphold and practice our ethical
principles, including facilitating the prevention of underage use
of our products through our industry pioneering Guardian
Program, introducing effective age-verification practices to
the industry. This fourth quarter also witnessed the first
anniversary of the launch of our Sunflower System,
our technology-driven underage-access-prevention system. In
addition, we continued to advance our Golden Shield Program
in cooperation with the public, media and local authorities to
combat sales of counterfeit products."
"Looking forward, we plan to further solidify our leadership as
we endeavor to continue investment in scientific research,
enhance our technology and product development, strengthen our
distribution and retail network, bolster supply chain and
production capabilities, and extend our global capabilities. These
strategic initiatives are designed to support our growth over the
long-term," Ms. Wang concluded.
Closing of Initial Public Offering ("IPO")
On January 26, 2021, the Company
completed the closing of its initial public offering of 133,975,000
American depositary shares ("ADSs"), each representing one Class A
ordinary share. The number of ADSs issued at closing included
17,475,000 ADSs issued pursuant to the exercise in full of
over-allotment option by the underwriters. At a price to the public
of US$12.00 per ADS, the total
offering size was US$1,607.7
million.
Fourth Quarter 2020 Unaudited Financial Results
Net revenues increased by 44.5% to RMB1,618.5 million (US$248.0 million) in the fourth quarter of 2020
from RMB1,120.2 million in the third
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 58.6% to RMB694.1
million (US$106.4 million) in the
fourth quarter of 2020 from RMB437.5
million in the third quarter of 2020.
Gross margin increased to 42.9% in the fourth
quarter of 2020, compared to 39.1% in the third quarter of
2020.
Operating expenses were RMB852.6 million (US$130.7
million) in the fourth quarter of 2020, representing an
increase of 124.4% from RMB380.0 million in the third quarter of
2020.
Selling expenses increased by 127.0% to RMB196.7
million (US$30.1 million) in the
fourth quarter of 2020 from RMB86.7
million in the third quarter of 2020. The increase was
mainly driven by (i) an increase in share-based compensation
expenses, and (ii) an increase in branding material expenses.
General and administrative expenses increased by
75.4% to RMB447.0 million
(US$68.5 million) in the fourth
quarter of 2020 from RMB254.8 million
in the third quarter of 2020. The increase was primarily due to (i) an increase in
share-based compensation expenses, and (ii) an increase in
professional service fees.
Research and development expenses increased by 441.9%
to RMB208.9 million (US$32.0
million) in the fourth quarter of 2020 from RMB38.5 million in the third quarter of 2020. The
increase was primarily driven by
(i) an increase in share-based compensation expenses, and (ii) an
increase in software and technical service expenses.
Share-based compensation expenses recognized in selling
expenses, general and administrative expenses and research and
development expenses in total were RMB656.1 million (US$100.6 million) in the fourth quarter of
2020 and RMB238.2 million in the
third quarter of 2020. The increase was primarily due to the
increase in fair value of ordinary shares of Relx Inc.
Loss from operations was RMB158.5 million (US$24.3 million) in the fourth quarter of
2020, compared with income from operations of RMB57.5 million in the third quarter of 2020.
Income tax expense was RMB110.6 million (US$17.0 million) in the fourth quarter of
2020, compared with income tax expense of RMB77.3 million in the third quarter of 2020,
primarily due to an increase in taxable income.
Net loss was RMB236.7 million (US$36.3 million) in the fourth quarter
of 2020, compared with net income of RMB7.8
million in the third quarter of 2020.
Non-GAAP net income was RMB419.3 million (US$64.3 million) in the fourth quarter
of 2020.
Basic and diluted net loss per American depositary share
("ADS") were both RMB0.165
(US$0.025) in the fourth quarter of
2020, compared to basic and diluted net income per ADS of
RMB0.005 in the third quarter of
2020.
Non-GAAP basic and diluted net income per
ADS[2] were both RMB0.292 (US$0.045)
in the fourth quarter of 2020, compared to RMB0.171 in the third quarter of 2020.
[2]
Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP
financial measure. For more information on the Company's non-GAAP
financial measures, please see the section "Non-GAAP Financial
Measures" and the table captioned "Unaudited Reconciliation of GAAP
and Non-GAAP Results" set forth at the end of this press
release.
|
Fiscal Year 2020 Unaudited Financial Results
Net revenues increased by 146.5%
to RMB3,819.7 million (US$585.4
million) in fiscal year 2020 from RMB1,549.4 million in the prior year. The
increase was primary due to an increase in net revenues from sales
to offline distributors.
Gross profit increased by 162.9% to RMB1,527.6
million (US$234.1 million) in fiscal
year 2020 from RMB580.9 million in
the prior year.
Gross margin was 40.0% in the fiscal year 2020,
compared to 37.5% in the prior year.
Operating expenses were RMB1,514.4 million (US$232.1 million) in fiscal year 2020,
representing an increase of 188.7% from RMB524.6 million in the prior year.
Selling expenses increased by 23.3% to RMB443.2 million (US$67.9
million) in fiscal year 2020 from RMB359.4 million in the prior year. The increase
was primarily due to
(i) an increase in share-based compensation expenses, and (ii)
an increase in salaries and welfare benefits to the Company's
selling personnel, partially offset by a decrease in e-commerce
platform service expenses as the Company closed its stores on
e-commerce platforms and ceased collaboration with e-commerce
platform distributors in response to the October 2019 Announcement.
General and administrative expenses increased by
479.5% to RMB772.0 million
(US$118.3 million) in fiscal year
2020 from RMB133.2 million in the
prior year. The increase was primarily attributable to (i) an increase in
share-based compensation expenses, and (ii) an increase in salaries
and welfare benefits to the Company's general and administrative
personnel.
Research and development expenses increased by 837.2% to
RMB299.3 million (US$45.9 million) in fiscal year 2020 from
RMB31.9 million in the prior year.
The increase was primarily due
to (i) an increase in share-based compensation expenses, and (ii)
an increase in salaries and welfare benefits to the Company's
research and development personnel.
Share-based compensation expenses recognized in selling
expenses, general and administrative expenses and research and
development expenses in total were RMB929.1
million (US$142.4 million) in
fiscal year 2020 and RMB52.7 million
in the prior year, primarily due to the increase in fair value of
ordinary shares of Relx Inc.
Income from operations decreased by 76.7% to
RMB13.1 million (US$2.0 million) in fiscal year 2020 from
RMB56.4 million in the prior
year.
Income tax expense was RMB230.5 million (US$35.3 million) in fiscal year 2020,
representing an increase of 789.3% from RMB25.9 million in the prior year. The
increase was primarily due to
an increase in taxable income.
Net loss was RMB128.1
million (US$19.6 million) in
fiscal year 2020, compared with net income of RMB47.7 million in the prior year.
Non-GAAP net income was RMB801.0
million (US$122.8 million) in
fiscal year 2020.
Basic and diluted net loss per ADS were both
RMB0.089 (US$0.014) in fiscal year 2020, compared to basic
and diluted net income per ADS of RMB0.033 in the prior year.
Non-GAAP basic and diluted net income per
ADS were both RMB0.557 (US$0.085)
in fiscal year 2020, compared to RMB0.070 per ADS in the prior year.
Balance Sheet
As of December 31, 2020, the
Company had cash and cash equivalents, restricted cash, short-term
bank deposits and short-term investments of RMB3,421.4 million (US$524.4 million), compared to RMB811.7 million as of December 31, 2019.
Business Outlook
For the first quarter of 2021, the Company currently expects net
revenues to exceed RMB2,300 million,
and expects non-GAAP net income to exceed RMB590 million. The Company's expected net income
will also include share-based compensation expenses which depend on
the Company's share price and are not available without
unreasonable efforts. The Company 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.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
March 26, 2021 (8:00 PM Beijing/Hong Kong Time on March 26, 2021).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
+1-888-317-6003
|
International:
|
+1-412-317-6061
|
Hong Kong, China
(toll free):
|
800-963-976
|
Hong Kong,
China:
|
+852-5808-1995
|
Mainland
China:
|
400-120-6115
|
Participant
Code:
|
1345855
|
Participants should dial-in at least 10 minutes before the
scheduled start time and ask to be connected to the call for "RLX
Technology Inc." with the Participant Code as set forth above.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
https://ir.relxtech.com.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the call until April 2, 2021, by dialing the following telephone
numbers:
United
States:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
10152933
|
About RLX Technology Inc.
RLX Technology Inc. (NYSE: RLX) is a leading branded e-vapor
company in China. The Company
leverages its strong in-house technology and product development
capabilities and in-depth insights into adult smokers' needs to
develop superior e-vapor products. RLX Technology Inc. sells its
products through an integrated offline distribution and "branded
store plus" retail model tailored to China's e-vapor market.
For more information, please visit: http://ir.relxtech.com.
Non-GAAP Financial Measures
The Company uses Non-GAAP net (loss)/income and Non-GAAP basic
and diluted net (loss)/income per ADS, each a non-GAAP financial
measure, in evaluating its operating results and for financial and
operational decision-making purposes. Non-GAAP net (loss)/income
represents net (loss)/income excluding share-based compensation
expenses. Non-GAAP basic and diluted net (loss)/income per ADS is
computed using Non-GAAP net (loss)/income and the same number of
ADSs used in GAAP basic and diluted net (loss)/income per ADS
calculation.
The Company presents these non-GAAP financial measures because
they are used by the management to evaluate its operating
performance and formulate business plans. The Company believes that
they help identify underlying trends in its business that could
otherwise be distorted by the effect of certain expenses that are
included in net (loss)/income. The Company also believes that the
use of the non-GAAP measures facilitates investors' assessment of
its operating performance, as they could provide useful information
about its operating results, enhances the overall understanding of
its past performance and future prospects and allows for greater
visibility with respect to key metrics used by the management in
its financial and operational decision making.
The non-GAAP financial measures are not defined under U.S. GAAP
and are not presented in accordance with U.S. GAAP. The non-GAAP
financial measures have limitations as analytical tools. They
should not be considered in isolation or construed as an
alternative to net (loss)/income, basic and diluted net
(loss)/income per ADS or any other measure of performance or as an
indicator of its operating performance. Investors are encouraged to
review its historical non-GAAP financial measures to the most
directly comparable GAAP measures. The non-GAAP financial measures
here may not be comparable to similarly titled measures presented
by other companies. Other companies may calculate similarly titled
measures differently, limiting their usefulness as comparative
measures to our data. The Company encourages investors and others
to review its financial information in its entirety and not rely on
any single financial measure.
For more information on the non-GAAP financial measures, please
see the table captioned "Unaudited Reconciliation of GAAP and
non-GAAP Results" set forth at the end of this press release.
Notes to Unaudited Financial Information
The unaudited financial information disclosed in this press
release is preliminary. The audit of the financial statements and
related notes to be included in the Company's annual report on
Form 20-F for the year ended December 31, 2020 is
still in progress.
Adjustments to the financial statements may be identified
when the audit work is completed, which could result in significant
differences between the Company's audited financial statements and
this preliminary unaudited financial information.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB
to U.S. dollars and from U.S. dollars to RMB are made at a rate of
RMB6.5250 to US$1.00, the exchange rate on December 31, 2020 set forth in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the RMB or U.S. dollars amounts referred
could be converted into U.S. dollars or RMB, as the case may be, at
any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "is/are likely to," "potential," "continue" and
similar statements. Among other things, business outlook and
quotations from management in this announcement, as well as the
Company's strategic and operational plans, contain forward-looking
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
but not limited to statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's growth strategies; its
future business development, results of operations and financial
condition; trends and competition in China's e-vapor market; changes in its
revenues and certain cost or expense items; PRC governmental
policies, laws and regulations relating to the Company's industry,
and general economic and business conditions globally and in
China and assumptions underlying
or related to any of the foregoing. Further information regarding
these risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release and in the attachments
is current as of the date of this press release, and the Company
does not undertake any obligation to update such information,
except as required under applicable law.
For more information, please contact:
In China:
RLX Technology Inc.
Head of Investor Relations
Sam Tsang
Email: ir@relxtech.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
Email: RLX@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
Email: RLX@tpg-ir.com
RLX TECHNOLOGY
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except for share and per share data, or otherwise
noted)
|
|
|
|
|
|
As
of
|
|
December
31,
|
December
31,
|
December
31,
|
|
2019
|
2020
|
2020
|
|
RMB
|
RMB
|
US$
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
135,544
|
1,113,988
|
170,726
|
Restricted
cash
|
348,548
|
340,813
|
52,232
|
Short-term bank
deposits
|
287,652
|
493,282
|
75,599
|
Receivables from online payment
platforms
|
9,545
|
862
|
132
|
Short-term
investments
|
40,000
|
1,473,349
|
225,801
|
Accounts and notes
receivable
|
38,795
|
20,089
|
3,079
|
Inventories,
net
|
219,311
|
329,123
|
50,440
|
Amounts due from
related parties
|
-
|
21,006
|
3,219
|
Prepayments and other
current assets
|
103,473
|
74,383
|
11,399
|
Total current
assets
|
1,182,868
|
3,866,895
|
592,627
|
|
|
|
|
Non-current
assets:
|
|
|
|
Amounts due from
related parties
|
72,789
|
-
|
-
|
Property, equipment
and leasehold improvement, net
|
66,452
|
74,500
|
11,418
|
Intangible assets,
net
|
5,399
|
5,393
|
826
|
Long-term
investments
|
5,000
|
4,000
|
613
|
Deferred tax
assets
|
104
|
6,000
|
920
|
Right-of-use assets,
net
|
90,227
|
91,743
|
14,060
|
Other non-current
assets
|
21,266
|
11,354
|
1,740
|
Total non-current
assets
|
261,237
|
192,990
|
29,577
|
Total
assets
|
1,444,105
|
4,059,885
|
622,204
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts and notes
payable
|
499,021
|
1,459,782
|
223,721
|
Contract
liabilities
|
18,410
|
320,434
|
49,109
|
Salary and welfare
benefits payable
|
42,318
|
179,558
|
27,518
|
Taxes
payable
|
2,783
|
363,644
|
55,731
|
Accrued expenses and
other current liabilities
|
25,633
|
116,929
|
17,920
|
Amounts due to
related parties
|
298
|
11,174
|
1,713
|
Lease
liabilities-current portion
|
31,439
|
45,073
|
6,908
|
Total current
liabilities
|
619,902
|
2,496,594
|
382,620
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
Amounts due to
related parties
|
646,011
|
-
|
-
|
Deferred tax
liabilities
|
10,574
|
5,210
|
798
|
Lease
liabilities-non-current portion
|
61,338
|
49,448
|
7,578
|
Total non-current
liabilities
|
717,923
|
54,658
|
8,376
|
Total
liabilities
|
1,337,825
|
2,551,252
|
390,996
|
|
|
|
|
Shareholders'
equity:
|
|
|
|
Ordinary shares
(US$0.00001 par value; 5,000,000,000 shares authorized
1,436,815,570
and 1,436,815,570 shares issued and outstanding as of
December 31, 2019 and 2020,
respectively)
|
94
|
94
|
14
|
Additional paid-in
capital
|
59,544
|
1,589,857
|
243,656
|
Statutory
reserves
|
1,000
|
1,000
|
153
|
Retained
earnings/(Accumulated deficit)
|
46,461
|
(81,640)
|
(12,512)
|
Accumulated other
comprehensive loss
|
(819)
|
(678)
|
(103)
|
Total
shareholders' equity
|
106,280
|
1,508,633
|
231,208
|
Total liabilities
and shareholders' equity
|
1,444,105
|
4,059,885
|
622,204
|
RLX TECHNOLOGY
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME/(LOSS)
|
(All amounts in
thousands, except for share and per share data, or otherwise
noted)
|
|
|
|
|
|
|
|
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
2019
|
2020
|
2020
|
2020
|
|
2019
|
2020
|
2020
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
410,458
|
1,120,159
|
1,618,451
|
248,038
|
|
1,549,354
|
3,819,712
|
585,396
|
Cost of
revenue
|
(289,049)
|
(682,617)
|
(924,315)
|
(141,657)
|
|
(968,410)
|
(2,292,153)
|
(351,288)
|
Gross
profit
|
121,409
|
437,542
|
694,136
|
106,381
|
|
580,944
|
1,527,559
|
234,108
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Selling
expenses
|
(116,656)
|
(86,650)
|
(196,683)
|
(30,143)
|
|
(359,404)
|
(443,154)
|
(67,916)
|
General and
administrative expenses
|
(51,619)
|
(254,815)
|
(447,045)
|
(68,513)
|
|
(133,221)
|
(771,971)
|
(118,310)
|
Research and
development expenses
|
(14,221)
|
(38,546)
|
(208,889)
|
(32,014)
|
|
(31,933)
|
(299,285)
|
(45,867)
|
Total operating
expenses
|
(182,496)
|
(380,011)
|
(852,617)
|
(130,670)
|
|
(524,558)
|
(1,514,410)
|
(232,093)
|
(Loss)/Income from
operations
|
(61,087)
|
57,531
|
(158,481)
|
(24,289)
|
|
56,386
|
13,149
|
2,015
|
|
|
|
|
|
|
|
|
|
Other
(expenses)/income:
|
|
|
|
|
|
|
|
|
Interest income,
net
|
730
|
11,242
|
7,678
|
1,177
|
|
745
|
32,407
|
4,967
|
Investment
income
|
-
|
5,842
|
11,621
|
1,781
|
|
-
|
20,352
|
3,119
|
Others, net
|
(522)
|
10,507
|
13,062
|
2,002
|
|
16,541
|
36,523
|
5,599
|
(Loss)/Income
before income
tax
|
(60,879)
|
85,122
|
(126,120)
|
(19,329)
|
|
73,672
|
102,431
|
15,700
|
Income tax
benefit/(expense)
|
10,580
|
(77,288)
|
(110,625)
|
(16,954)
|
|
(25,924)
|
(230,532)
|
(35,331)
|
Net
(loss)/income
|
(50,299)
|
7,834
|
(236,745)
|
(36,283)
|
|
47,748
|
(128,101)
|
(19,631)
|
|
|
|
|
|
|
|
|
|
Other
comprehensive
income/(loss):
|
|
|
|
|
|
|
|
|
Foreign currency
translation
adjustments
|
5
|
(357)
|
(14)
|
(2)
|
|
(805)
|
142
|
22
|
Total other
comprehensive
income/(loss)
|
5
|
(357)
|
(14)
|
(2)
|
|
(805)
|
142
|
22
|
Total
comprehensive
income/(loss):
|
(50,294)
|
7,477
|
(236,759)
|
(36,285)
|
|
46,943
|
(127,959)
|
(19,609)
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
per ordinary
share/ADS
|
|
|
|
|
|
|
|
|
- Basic
|
(0.035)
|
0.005
|
(0.165)
|
(0.025)
|
|
0.033
|
(0.089)
|
(0.014)
|
- Diluted
|
(0.035)
|
0.005
|
(0.165)
|
(0.025)
|
|
0.033
|
(0.089)
|
(0.014)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of
ordinary shares/ADSs
|
|
|
|
|
|
|
|
|
- Basic
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
- Diluted
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
RLX TECHNOLOGY
INC.
|
UNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
|
(All amounts in
thousands, except for share and per share data, or otherwise
noted)
|
|
|
|
|
|
|
|
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
2019
|
2020
|
2020
|
2020
|
|
2019
|
2020
|
2020
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
Net
(loss)/income
|
(50,299)
|
7,834
|
(236,745)
|
(36,283)
|
|
47,748
|
(128,101)
|
(19,631)
|
Add: share-based
compensation expenses
|
|
|
|
|
|
|
|
|
Selling
expenses
|
1,737
|
9,760
|
123,270
|
18,892
|
|
6,250
|
142,325
|
21,810
|
General and
administrative expenses
|
7,195
|
214,572
|
367,426
|
56,310
|
|
45,205
|
593,473
|
90,951
|
Research and
development expenses
|
368
|
13,834
|
165,395
|
25,348
|
|
1,259
|
193,300
|
29,622
|
Non-GAAP net
(loss)/income
|
(40,999)
|
246,000
|
419,346
|
64,267
|
|
100,462
|
800,997
|
122,752
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
(loss)/income per ordinary
share/ADS
|
|
|
|
|
|
|
|
|
- Basic
|
(0.029)
|
0.171
|
0.292
|
0.045
|
|
0.070
|
0.557
|
0.085
|
- Diluted
|
(0.029)
|
0.171
|
0.292
|
0.045
|
|
0.070
|
0.557
|
0.085
|
Weighted average
number of ordinary
shares/ADSs
|
|
|
|
|
|
|
|
|
- Basic
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
- Diluted
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
|
1,436,815,570
|
1,436,815,570
|
1,436,815,570
|
RLX TECHNOLOGY
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(All amounts in
thousands, except for share and per share data, or otherwise
noted)
|
|
|
|
|
|
|
|
|
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
2019
|
2020
|
2020
|
2020
|
|
2019
|
2020
|
2020
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Net cash generated
from operating activities
|
23,549
|
798,828
|
1,290,121
|
197,718
|
|
338,125
|
2,589,383
|
396,840
|
Net cash (used
in)/generated from investing
activities
|
(447,678)
|
(746,205)
|
829,504
|
127,125
|
|
(497,836)
|
(1,812,894)
|
(277,839)
|
Net cash (used
in)/generated from financing
activities
|
584,205
|
324,272
|
(1,200,659)
|
(184,009)
|
|
576,402
|
174,881
|
26,801
|
Effect of foreign
exchange rate changes on
cash, cash equivalents and restricted cash
|
3
|
15,915
|
(10,666)
|
(1,631)
|
|
(805)
|
19,339
|
2,966
|
Net increase in
cash and cash equivalents
and restricted cash
|
160,079
|
392,810
|
908,300
|
139,203
|
|
415,886
|
970,709
|
148,768
|
Cash, cash
equivalents and restricted cash
at the beginning of the period/year
|
324,013
|
153,691
|
546,501
|
83,755
|
|
68,206
|
484,092
|
74,190
|
Cash, cash
equivalents and restricted cash
at the end of the period/year
|
484,092
|
546,501
|
1,454,801
|
222,958
|
|
484,092
|
1,454,801
|
222,958
|
View original
content:http://www.prnewswire.com/news-releases/rlx-technology-announces-fourth-quarter-and-fiscal-year-2020-unaudited-financial-results-301256619.html
SOURCE RLX Technology Inc.