Did RELX Post a Sharp Quarter-on-Quarter Gain in Q2?

Global intelligence has learned that recently, RLX Technology Inc. announced its unaudited financial report for the second quarter of 2023. The report shows that RLX Technology's net revenue for the second quarter of 2023 was 380 million yuan (52.15 million USD), a quarter-on-quarter increase of 100.2%, but a year-on-year decrease of 83.1%. Under non-GAAP, the adjusted net profit for the second quarter was 86.23 million yuan (11.89 million USD).

▲ Commentary: RELX saw a sharp quarter-on-quarter increase in performance, which is noteworthy. Its gross margin for the second quarter of 2023 was 26.1%. As of June 30, 2023, RLX Technology had cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits, and long-term investment securities totaling 15.79 billion yuan (2.18 billion USD).