On August 18th, RLX Technology Inc. released its unaudited financial report for the second quarter of 2023. According to the report, the company achieved a net revenue of RMB 380 million (USD 52.15 million) during the second quarter of 2023, representing a 100.2% increase compared to the previous quarter but an 83.1% decrease year-on-year. Adjusted net profit for the second quarter, excluding U.S. GAAP, amounted to RMB 86.23 million (USD 11.89 million).
According to the financial report, Wuxin Technology’s net revenue in the second quarter of 2023 reached 380 million Yuan ($52.15 million), showing a 100.2% increase compared to the previous quarter but a decline of 83.1% compared to the same period last year.
The gross profit margin for the second quarter of 2023 stood at 26.1%.
According to non-US generally accepted accounting principles, the adjusted net profit for the second quarter of 2023 was 86.23 million yuan (11.89 million US dollars).
As of June 30, 2023, Wuxin Technology’s total cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits, and long-term investment securities amounted to RMB 15.79 billion ($2.18 billion).
