RELX 2021 Financial Report: Net Revenue Surged 123.1% Year on Year
In fiscal year 2021, RELX's net revenue increased by 123.1% to RMB 8.52 billion (US$1.34 billion). This growth was mainly due to higher net revenue from sales to offline distributors, primarily driven by the expansion of the company's business scale. Its
In the fiscal year 2021, RELX's net revenue surged 123.1% to RMB 8.52 billion (approximately $1.34 billion). This growth was primarily due to increased net revenue from sales to offline distributors, largely driven by the expansion of the company's distribution and retail network (as e-cigarette sales online were banned in China in October 2019).
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Gross profit increased by 140.4% to RMB 3.67 billion, while the gross profit margin rose from 40% last year to 43.1%.<\/div>
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In the fourth quarter of 2021, RLX Technology reported net revenue of RMB 1.9 billion, a 17.7% increase compared to the same period in 2020. The gross profit margin was 40.2%, down from 42.9% in the same period of 2020.<\/div>
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“We are satisfied with our operational and financial performance for the fourth quarter of 2021. Despite the ongoing challenges posed by the changing regulatory framework in the industry and the recurring outbreaks of the pandemic, we remained focused throughout the year on optimizing our distribution and retail channels, investing in scientific research, new product development, and digital upgrades,” said Wang Ying, co-founder, chairman of the board, and CEO of RLX Technology, in a statement.<\/div>
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“The 123.1% year-on-year revenue growth for the fiscal year 2021 further solidifies our position as a trusted e-vapor brand for adult smokers. Looking ahead, we believe the company is well-positioned to further explore the vast potential of this large but evolving industry and achieve future growth in 2022 and beyond.”<\/div>
