Lei Jianping on May 17
RLX Technology Inc (NYSE: RLX) today announced unaudited financial results for the first quarter of 2024. According to the financial report, fog core technology's revenue in the first quarter of 2024 will be 552 million yuan (about 76.4 million US dollars), an increase of 192% from 189 million yuan in the same period last year, and an increase of 6.15% from 520 million yuan in the same period last year.
Ying Wang, Founder, Chairman and CEO of Wuxin Technology, said: "The global regulatory environment is constantly evolving, and we have always been flexible and have actively adjusted our strategies to adapt to changes in local markets. We will continue to capture business opportunities in the midst of change, and rely on our core strengths to prudently explore potential markets. ”
Since the second quarter of 2023, fog core technology's revenue has continued to return to growth.
The cost of fog core Q1 was 327 million, an increase of 316% year-on-year
The cost of fog core technology in the first quarter of 2024 was 327 million yuan, an increase of 316% from 78.69 million yuan in the same period last year.
Fog core Q1 gross profit of 143 million gross profit margin of 25.9%
Fog Core Technology's gross profit in the first quarter of 2024 was 143 million yuan, compared with 45.7 million yuan in the same period last year. Fog Core Technology's gross margin was 25.9% in the first quarter of 2024, compared to 24.2% in the same period last year.
The cost of fog core Q1 was 194 million, down 54% year-on-year
Wuxin Technology's expenses in the first quarter of 2024 were 194 million yuan, a decrease of 54% from the expenses of 419 million yuan in the same period last year.
Among them, the sales and marketing expenses of Wuxin Technology in the first quarter of 2024 will be 52.9 million yuan, the management expenses will be 110 million yuan, and the research and development expenses will be 31.5 million yuan.
Wuxin Q1 operating loss of 51.61 million operating margin -9%
Wuxin Technology's operating loss in the first quarter of 2024 was 51.61 million yuan, compared with an operating loss of 373 million yuan in the same period last year.
Wuxin Q1 net profit was 133 million in the same period last year
Wuxin Technology's net profit for the first quarter of 2024 was 133 million yuan, and the adjusted net profit was 208 million yuan.
As of March 31, 2024, Wuxin 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 14.68 billion yuan ($2.03 billion).
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