Summary by Moomoo AI
RLX Technology reported strong Q3 2024 results with net revenues increasing 51.6% YoY to RMB756.3 million (US$107.8M), driven by successful international expansion. Gross margin improved to 27.2% from 24.1% YoY, benefiting from favorable revenue mix and cost optimization initiatives. U.S. GAAP net income reached RMB169.4 million (US$24.1M).The company demonstrated operational efficiency with non-GAAP net income growing to RMB261.9 million (US$37.3M), compared with RMB201.4 million in Q3 2023. Operating expenses increased to RMB216.6 million primarily due to higher share-based compensation expenses of RMB92.5 million, reflecting changes in share price fluctuations.The Board approved a cash dividend of US$0.01 per ADS, payable to shareholders of record as of December 6, 2024. As of September 30, 2024, the company maintained a strong financial position with cash and investments totaling RMB15.36 billion (US$2.19B), up from RMB14.93 billion in the previous quarter.
