RLX Technology delivered strong financial results in Q3 2025, with a 49% year-over-year revenue growth to RMB 1.1 billion and a notable increase in profitability, despite ongoing market challenges in Mainland China.

• Strong international performance, with 70–80% of revenue now derived from global markets, driven by innovative product launches and retail strategies.
• Gross profit margin improved by 4 percentage points year-over-year, reflecting operational excellence and disciplined execution.
• Revenue from Mainland China grew modestly to RMB 320 million, although the market remains significantly impacted by unregulated competition.
• Continued strategic investments, including a significant equity stake in a leading European e-vapor company, bolster market intelligence and future growth prospects.
• Proactive adaptation to regulatory changes in key markets, including the UK, successfully maintained market position amid industry contractions.