BEIJING, March 11, 2022 /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, 2021.
Fourth Quarter 2021 Financial Highlights
- Net revenues were RMB1,904.4
million (US$298.8 million),
representing an increase of 17.7% from RMB1,618.5 million in the same period of
2020.
- Gross margin was 40.2%, compared with 42.9% in the same
period of 2020.
- U.S. GAAP net income was
RMB494.4 million (US$77.6 million), compared with U.S. GAAP net
loss of RMB236.7 million in the same
period of 2020.
- Non-GAAP net income[1] was RMB536.5 million (US$84.2
million), compared with RMB419.3
million in the same period of 2020.
Fiscal Year 2021 Financial Highlights
- Net revenues were RMB8,521.0
million (US$1,337.1 million)
in the fiscal year 2021, representing an increase of 123.1% from
RMB3,819.7 million in the prior
year.
- Gross margin was 43.1% in the fiscal year 2021, compared
with 40.0% in the prior year.
- U.S. GAAP net income was RMB2,028.1 million (US$318.3 million) in the fiscal year 2021,
compared with U.S. GAAP net loss of RMB128.1 million in the prior year.
- Non-GAAP net income was RMB2,251.5 million (US$353.3 million) in the fiscal year 2021,
compared with RMB801.0 million in the
prior year.
"We are pleased with our operational and financial performance
in the fourth quarter, ending 2021 on a strong note. Despite the
evolving industry regulatory framework and challenging backdrop of
recurrent COVID-19 outbreaks, we remained focused 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, Chairperson of the Board of Directors and
Chief Executive Officer of RLX Technology. "The 2021 fiscal year
was defined by year-over-year revenue growth of 123.1%, further
cementing our leadership as a 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
vast yet growing industry and achieve future growth in 2022 and
beyond."
"In the fourth quarter of 2021, we delivered net revenues of
RMB1,904.4 million, up 17.7%
year-over-year, reflecting the momentum behind our efforts to
optimize our distribution and retail channel network and enhance
our diversified product portfolio," said Mr. Chao Lu, Chief Financial Officer of RLX
Technology. "In December 2021, our
Board of Directors authorized a share repurchase program under
which we may repurchase up to US$500
million of our shares over a period until December 31, 2023. This program demonstrates our
continued confidence in the future development of our industry and
the strength of our business. As we progress through 2022, we will
strive to strengthen our core capabilities, bolster our market
leading position, and reinforce our commitment to achieve
sustainable growth and generate long-term value for our
shareholders."
[1] Non-GAAP net
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.
|
Fourth Quarter 2021 Financial Results
Net revenues increased by 17.7% to RMB1,904.4 million (US$298.8 million) in the fourth quarter of 2021
from RMB1,618.5 million in the same
period 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 10.3% to RMB765.5 million (US$120.1
million) in the fourth quarter of 2021 from RMB694.1 million in the same period of
2020.
Gross margin was 40.2% in the fourth quarter of
2021, compared with 42.9% in the same period of 2020. The
decrease was primarily due to (i) an increase in direct costs
related to promotional activities and (ii) an increase in the
inventory provision.
Operating expenses were RMB231.5 million (US$36.3
million) in the fourth quarter of 2021, representing a
decrease of 72.8% from RMB852.6
million in the same period of 2020. The decrease in
operating expenses was primarily due to the change of share-based
compensation expenses, which decreased by 93.6% to RMB42.1 million (US$6.6
million) in the fourth quarter of 2021 from RMB656.1 million in the same period of 2020. The
decrease in share-based compensation expenses was primarily due to
the changes in the fair value of the share incentive awards that
the Company granted to its employees as affected by the
fluctuations of the share price of the Company.
Selling expenses decreased by 76.3% to RMB46.6
million (US$7.3 million) in the
fourth quarter of 2021 from RMB196.7
million in the same period of 2020. The decrease was
mainly driven by (i) a decrease in share-based compensation
expenses and (ii) a decrease in salaries and welfare benefits
primarily attributable to a decrease in performance-based cash
compensation, partially offset by an increase in branding material
expenses.
General and administrative expenses decreased by
62.6% to RMB167.1 million
(US$26.2 million) in the fourth
quarter of 2021 from RMB447.0 million
in the same period of 2020. The decrease was mainly
driven by (i) a decrease in share-based compensation expenses
and (ii) a decrease in salaries and welfare benefits primarily
attributable to a decrease in performance-based cash compensation,
partially offset by an increase in software and technical service
expenses.
Research and development expenses decreased by 91.5%
to RMB17.8 million (US$2.8
million) in the fourth quarter of 2021 from RMB208.9 million in the same period of 2020.
The decrease was mainly driven by (i) a decrease in share-based
compensation expenses and (ii) a decrease in salaries and welfare
benefits primarily attributable to a decrease in performance-based
cash compensation, partially offset by an increase in consulting
expenses.
Income from operations was RMB534.0 million (US$83.8 million) in the fourth quarter of
2021, compared with a loss from operations of RMB158.5 million in the same period of 2020.
Income tax expense was RMB129.5 million (US$20.3 million) in the fourth quarter of
2021, compared with RMB110.6 million in the same period of
2020.
U.S. GAAP net income was
RMB494.4 million (US$77.6 million) in the fourth quarter of
2021, compared with U.S. GAAP net loss of RMB236.7 million in the same period of
2020.
Non-GAAP net income was
RMB536.5 million (US$84.2 million) in the fourth quarter
of 2021, compared with RMB419.3
million in the same period of 2020.
U.S. GAAP basic and diluted net income per American
depositary share ("ADS") were RMB0.367 (US$0.058) and RMB0.363 (US$0.057), respectively, in the fourth quarter
of 2021, compared with U.S. GAAP basic and diluted net loss per ADS
of RMB0.165, in the same
period of 2020.
Non-GAAP basic and diluted net income per
ADS[2] were RMB0.398 (US$0.062) and RMB0.394 (US$0.062), respectively, in the fourth quarter
of 2021, compared with RMB0.292 in
the same period of 2020.
[2] Non-GAAP basic
and diluted net 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.
|
Balance Sheet and Cash Flow
The Company's liquidity was significantly enhanced by the
completion of our IPO in early 2021. As of December 31, 2021, the Company had cash and cash
equivalents, restricted cash, short-term bank deposits, net,
short-term investments, and long-term bank deposits, net of
RMB14,857.8 million (US$2,331.5 million), compared with RMB3,421.4 million as of December 31, 2020. As of December 31, 2021, approximately US$1,624.5 million (RMB10,352.3 million) was denominated in U.S.
dollars.
For the fourth quarter ended December 31,
2021, net cash generated from operating activities was
RMB465.7 million (US$73.1 million).
Fiscal Year 2021 Financial Results
Net revenues increased by 123.1% to RMB8,521.0 million (US$1,337.1 million) in the fiscal year 2021 from
RMB3,819.7 million in the prior year.
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 140.4% to RMB3,672.1 million (US$576.2 million) in the fiscal year 2021 from
RMB1,527.6 million in the prior
year.
Gross margin increased to 43.1% in the fiscal year 2021
from 40.0% in the prior year.
Operating expenses were RMB1,373.4
million (US$215.5 million) in
the fiscal year 2021, representing a decrease of 9.3% from
RMB1,514.4 million in the prior year.
The decrease in operating expenses was primarily due to the change
of share-based compensation expenses, which decreased by 76.0%
to RMB223.3 million (US$35.0 million) in the fiscal year 2021 from
RMB929.1 million in the prior year.
The decrease in share-based compensation expenses was primarily due
to the changes in the fair value of the share incentive awards that
the Company granted to its employees as affected by the
fluctuations of the share price of the Company.
Selling expenses increased by 17.5% to RMB520.7 million (US$81.7
million) in the fiscal year 2021 from RMB443.2 million in the prior year. The increase
was mainly driven by (i) an increase in branding material expenses,
(ii) an increase in shipping expenses, and (iii) an increase in
salaries and welfare, partially offset by the decrease of
share-based compensation expenses.
General and administrative expenses decreased by 12.9% to
RMB672.7 million (US$105.6 million) in the fiscal year 2021 from
RMB772.0 million in the prior year.
The decrease was primarily attributable to the decrease of
share-based compensation expenses, partially offset by (i) an
increase in salaries and welfare benefits, and (ii) an increase in
legal and other consulting fees.
Research and development expenses decreased by 39.9% to
RMB179.9 million (US$28.2 million) in the fiscal year 2021 from
RMB299.3 million in the prior year.
The decrease was primarily due to the decrease of share-based
compensation expenses, partially offset by (i) an increase in
salaries and welfare benefits, (ii) an increase in software and
technical expenses, and (iii) an increase in consulting
expenses.
Income from operations was RMB2,298.7 million (US$360.7 million) in the fiscal year 2021,
compared with RMB13.1 million in the
prior year.
Income tax expense was RMB631.4
million (US$99.1 million) in
the fiscal year 2021, representing an increase of 173.9% from
RMB230.5 million in the prior year.
The increase was primarily due to an increase in taxable
income.
U.S. GAAP net income was RMB2,028.1 million (US$318.3 million) in the fiscal year 2021,
compared with U.S. GAAP net loss of RMB128.1
million in the prior year.
Non-GAAP net income was RMB2,251.5
million (US$353.3 million) in
the fiscal year 2021, compared with RMB801.0
million in the prior year.
U.S. GAAP basic and diluted net income per
ADS were RMB1.445
(US$0.227) and RMB1.436 (US$0.225), respectively, in the fiscal year
2021, compared with U.S. GAAP basic and diluted net loss per ADS of
RMB0.089 in the prior year.
Non-GAAP basic and diluted net income per ADS were
RMB1.604 (US$0.252) and RMB1.595 (US$0.250), respectively, in the fiscal year
2021, compared with RMB0.557 in the
prior year.
Share Repurchase Program
On December 8, 2021, the Company
announced that its Board of Directors authorized a share repurchase
program under which the Company may repurchase up to US$500 million of its shares over a period until
December 31, 2023.
Conference Call
The Company's management will host an earnings conference call
at 7:00 A.M. U.S. Eastern Time on
March 11, 2022 (8:00 P.M. Beijing/Hong Kong Time on March 11, 2022).
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:
|
3704755
|
Participants should dial in 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 March 18, 2022, by dialing the following
telephone numbers:
United
States:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
8947871
|
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 income and Non-GAAP basic and
diluted net 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 income represents net income
excluding share-based compensation expenses. Non-GAAP basic and
diluted net income per ADS is computed using Non-GAAP net income
attributable to RLX Technology Inc. and the same number of ADSs
used in U.S. GAAP basic and diluted net income/(loss) 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 income/(loss). 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 income/(loss), basic and diluted net
income/(loss) 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 U.S. 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.
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
RMB6.3726 to US$1.00, the exchange rate on December 30, 2021 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, 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)
|
|
|
|
|
|
As
of
|
|
December
31,
|
December
31,
|
December
31,
|
|
2020
|
2021
|
2021
|
|
RMB
|
RMB
|
US$
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
1,113,988
|
5,208,967
|
817,401
|
Restricted
cash
|
340,813
|
500
|
78
|
Short-term bank
deposits, net
|
493,282
|
4,022,119
|
631,158
|
Receivables from
online payment platforms
|
862
|
10,006
|
1,570
|
Short-term
investments
|
1,473,349
|
3,621,637
|
568,314
|
Accounts and notes
receivable, net
|
20,089
|
14,024
|
2,201
|
Inventories,
net
|
329,123
|
589,088
|
92,441
|
Amounts due from
related parties
|
21,006
|
1,936
|
304
|
Prepayments and other
current assets, net
|
74,383
|
482,659
|
75,740
|
Total current
assets
|
3,866,895
|
13,950,936
|
2,189,207
|
Non-current
assets:
|
|
|
|
Property, equipment
and leasehold improvement, net
|
74,500
|
143,155
|
22,464
|
Intangible assets,
net
|
5,393
|
8,366
|
1,313
|
Long-term
investments, net
|
4,000
|
12,000
|
1,883
|
Deferred tax assets,
net
|
6,000
|
20,856
|
3,273
|
Right-of-use assets,
net
|
91,743
|
176,258
|
27,659
|
Long-term bank
deposits, net
|
-
|
2,004,593
|
314,564
|
Other non-current
assets
|
11,354
|
48,961
|
7,683
|
Total non-current
assets
|
192,990
|
2,414,189
|
378,839
|
Total
assets
|
4,059,885
|
16,365,125
|
2,568,046
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts and notes
payable
|
1,459,782
|
1,288,845
|
202,248
|
Contract
liabilities
|
320,434
|
286,651
|
44,982
|
Salary and welfare
benefits payable
|
179,558
|
170,393
|
26,738
|
Taxes
payable
|
363,644
|
597,761
|
93,802
|
Accrued expenses and
other current liabilities
|
116,929
|
313,396
|
49,179
|
Amounts due to
related parties
|
11,174
|
-
|
-
|
Lease liabilities -
current portion
|
45,073
|
80,582
|
12,645
|
Total current
liabilities
|
2,496,594
|
2,737,628
|
429,594
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
Deferred tax
liabilities
|
5,210
|
4,513
|
708
|
Lease liabilities -
non-current portion
|
49,448
|
104,232
|
16,356
|
Total non-current
liabilities
|
54,658
|
108,745
|
17,064
|
Total
liabilities
|
2,551,252
|
2,846,373
|
446,658
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
Total RLX Technology
Inc. shareholders' equity
|
1,508,633
|
13,514,952
|
2,120,792
|
Noncontrolling
interests
|
-
|
3,800
|
596
|
Total
shareholders' equity
|
1,508,633
|
13,518,752
|
2,121,388
|
|
|
|
|
Total liabilities
and shareholders' equity
|
4,059,885
|
16,365,125
|
2,568,046
|
|
RLX TECHNOLOGY
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/
INCOME COMPREHENSIVE INCOME/(LOSS)
|
(All amounts in
thousands, except for share (or ADS) and per share (or ADS)
data)
|
|
|
|
|
|
|
|
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
2020
|
2021
|
2021
|
2021
|
|
2020
|
2021
|
2021
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
1,618,451
|
1,676,723
|
1,904,355
|
298,835
|
|
3,819,712
|
8,520,978
|
1,337,127
|
Cost of
revenues
|
(924,315)
|
(1,020,753)
|
(1,138,826)
|
(178,707)
|
|
(2,292,153)
|
(4,848,918)
|
(760,901)
|
Gross
profit
|
694,136
|
655,970
|
765,529
|
120,128
|
|
1,527,559
|
3,672,060
|
576,226
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Selling
expenses
|
(196,683)
|
(56,525)
|
(46,628)
|
(7,317)
|
|
(443,154)
|
(520,694)
|
(81,708)
|
General and
administrative expenses
|
(447,045)
|
253,231
|
(167,108)
|
(26,223)
|
|
(771,971)
|
(672,748)
|
(105,569)
|
Research and
development expenses
|
(208,889)
|
44,607
|
(17,797)
|
(2,793)
|
|
(299,285)
|
(179,913)
|
(28,232)
|
Total operating
expenses
|
(852,617)
|
241,313
|
(231,533)
|
(36,333)
|
|
(1,514,410)
|
(1,373,355)
|
(215,509)
|
|
|
|
|
|
|
|
|
|
(Loss)/income from
operations
|
(158,481)
|
897,283
|
533,996
|
83,795
|
|
13,149
|
2,298,705
|
360,717
|
|
|
|
|
|
|
|
|
|
Other
income:
|
|
|
|
|
|
|
|
|
Interest income,
net
|
7,678
|
22,633
|
24,297
|
3,813
|
|
32,407
|
72,414
|
11,363
|
Investment
income
|
11,621
|
27,463
|
27,964
|
4,388
|
|
20,352
|
94,222
|
14,785
|
Others, net
|
13,062
|
150,498
|
37,694
|
5,915
|
|
36,523
|
194,209
|
30,476
|
(Loss)/income
before income tax
|
(126,120)
|
1,097,877
|
623,951
|
97,911
|
|
102,431
|
2,659,550
|
417,341
|
Income tax
expense
|
(110,625)
|
(121,442)
|
(129,536)
|
(20,327)
|
|
(230,532)
|
(631,426)
|
(99,085)
|
Net
(loss)/income
|
(236,745)
|
976,435
|
494,415
|
77,584
|
|
(128,101)
|
2,028,124
|
318,256
|
Less: net income
attributable to
noncontrolling interests
|
-
|
2,520
|
891
|
140
|
|
-
|
3,411
|
535
|
Net (loss)/income
attributable to RLX
Technology Inc.
|
(236,745)
|
973,915
|
493,524
|
77,444
|
|
(128,101)
|
2,024,713
|
317,721
|
Other comprehensive
(loss)/income:
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
(14)
|
41,911
|
(181,851)
|
(28,536)
|
|
141
|
(149,188)
|
(23,411)
|
Total other
comprehensive (loss)/ income
|
(14)
|
41,911
|
(181,851)
|
(28,536)
|
|
141
|
(149,188)
|
(23,411)
|
Total comprehensive
(loss)/income
|
(236,759)
|
1,018,346
|
312,564
|
49,048
|
|
(127,960)
|
1,878,936
|
294,845
|
Less: total
comprehensive income
attributable to noncontrolling
interests
|
-
|
2,520
|
891
|
140
|
|
-
|
3,411
|
535
|
Total comprehensive
(loss)/income
attributable to RLX Technology Inc.
|
(236,759)
|
1,015,826
|
311,673
|
48,908
|
|
(127,960)
|
1,875,525
|
294,310
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
per ordinary share/ADS
|
|
|
|
|
|
|
|
|
Basic
|
(0.165)
|
0.724
|
0.367
|
0.058
|
|
(0.089)
|
1.445
|
0.227
|
Diluted
|
(0.165)
|
0.717
|
0.363
|
0.057
|
|
(0.089)
|
1.436
|
0.225
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary
shares/ADSs
|
|
|
|
|
|
|
|
|
Basic
|
1,436,815,570
|
1,345,928,878
|
1,346,184,770
|
1,346,184,770
|
|
1,436,815,570
|
1,401,371,494
|
1,401,371,494
|
Diluted
|
1,436,815,570
|
1,357,908,401
|
1,358,494,650
|
1,358,494,650
|
|
1,436,815,570
|
1,409,690,879
|
1,409,690,879
|
|
RLX TECHNOLOGY
INC.
|
|
|
UNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
|
|
|
(All amounts in
thousands, except for share (or ADS) and per share (or ADS)
data)
|
|
|
|
|
|
|
|
For the three
months ended
|
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
|
2020
|
2021
|
2021
|
2021
|
|
2020
|
2021
|
2021
|
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
Net
(loss)/income
|
(236,745)
|
976,435
|
494,415
|
77,584
|
|
(128,101)
|
2,028,124
|
318,256
|
|
Add: share-based
compensation expenses
|
|
|
|
|
|
|
|
|
|
Selling expenses
|
123,270
|
(90,768)
|
1,885
|
296
|
|
142,325
|
(19,653)
|
(3,084)
|
|
General and administrative expenses
|
367,426
|
(320,126)
|
45,107
|
7,078
|
|
593,473
|
302,070
|
47,401
|
|
Research and development expenses
|
165,395
|
(112,847)
|
(4,872)
|
(765)
|
|
193,300
|
(59,072)
|
(9,270)
|
|
Non-GAAP net
income
|
419,346
|
452,694
|
536,535
|
84,193
|
|
800,997
|
2,251,469
|
353,303
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
attributable to RLX Technology Inc.
|
(236,745)
|
973,915
|
493,524
|
77,444
|
|
(128,101)
|
2,024,713
|
317,721
|
|
Add: share-based
compensation expenses
|
656,091
|
(523,741)
|
42,120
|
6,609
|
|
929,098
|
223,345
|
35,047
|
|
Non-GAAP net
income attributable to RLX
Technology Inc. for computing non-GAAP net
income per ordinary share/ADS
|
419,346
|
450,174
|
535,644
|
84,053
|
|
800,997
|
2,248,058
|
352,768
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income per ordinary share/ADS
|
|
|
|
|
|
|
|
|
|
- Basic
|
0.292
|
0.334
|
0.398
|
0.062
|
|
0.557
|
1.604
|
0.252
|
|
- Diluted
|
0.292
|
0.332
|
0.394
|
0.062
|
|
0.557
|
1.595
|
0.250
|
|
Weighted average
number of ordinary shares/ADSs
|
|
|
|
|
|
|
|
|
|
- Basic
|
1,436,815,570
|
1,345,928,878
|
1,346,184,770
|
1,346,184,770
|
|
1,436,815,570
|
1,401,371,494
|
1,401,371,494
|
|
- Diluted
|
1,436,815,570
|
1,357,908,401
|
1,358,494,650
|
1,358,494,650
|
|
1,436,815,570
|
1,409,690,879
|
1,409,690,879
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RLX TECHNOLOGY
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(All amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
December
31,
|
September
30,
|
December
31,
|
December
31,
|
|
December
31,
|
December
31,
|
December
31,
|
|
2020
|
2021
|
2021
|
2021
|
|
2020
|
2021
|
2021
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
Net cash generated
from/(used in) operating activities
|
1,290,121
|
(142,852)
|
465,738
|
73,084
|
|
2,589,383
|
1,799,892
|
282,442
|
Net cash generated
from/(used in) investing activities
|
829,504
|
(38,534)
|
(1,397,519)
|
(219,301)
|
|
(1,812,894)
|
(7,870,660)
|
(1,235,078)
|
Net cash (used
in)/generated from financing activities
|
(1,200,659)
|
389
|
(127,516)
|
(20,010)
|
|
174,881
|
9,904,121
|
1,554,173
|
Effect of foreign
exchange rate changes on cash, cash
equivalents and restricted cash
|
(10,666)
|
23,372
|
(99,770)
|
(15,656)
|
|
19,339
|
(78,687)
|
(12,348)
|
Net
increase/(decrease) in cash and cash
equivalents and restricted cash
|
908,300
|
(157,625)
|
(1,159,067)
|
(181,883)
|
|
970,709
|
3,754,666
|
589,189
|
Cash, cash
equivalents and restricted cash at the
beginning of the period
|
546,501
|
6,526,159
|
6,368,534
|
999,362
|
|
484,092
|
1,454,801
|
228,290
|
Cash, cash
equivalents and restricted cash at the
end of the period
|
1,454,801
|
6,368,534
|
5,209,467
|
817,479
|
|
1,454,801
|
5,209,467
|
817,479
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/rlx-technology-announces-unaudited-fourth-quarter-and-fiscal-year-2021-financial-results-301500831.html
SOURCE RLX Technology Inc.