RLX Technology Reports Revenue Growth Amid European Expansion

The company’s gross margin improved to 35.4%, up from 27.5% in the second quarter of 2025, driven by supply chain optimization and a shift in revenue mix. While net revenues grew, the firm reported a U.S. GAAP net income of RMB222.0 million, a modest 1.6% rise from the previous year. Management noted that current results reflect a stabilization following a first-quarter boost linked to regulatory changes in export compliance.

To solidify its footprint, RLX Technology acquired a 51% equity stake in a major Western European distributor this July. The deal integrates a robust offline distribution network and a proprietary B2B digital marketplace into the company's portfolio. CEO Ying (Kate) Wang emphasized that future competitive success relies on this combination of channel autonomy, retail execution, and the scaling of new categories, such as modern oral nicotine pouches, beyond traditional e-vapor offerings.