RLX Technology Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $40.9m ($31.2m) ($287k) $47.7m ($19.6m) $317.7m $209.0m $75.3m $75.6m $131.8m
Net Income (Loss) Available to Common Stockholders, Basic $40.9m ($31.2m) ($287k) $47.7m ($128.1m) $2.0b $1.4b $534.3m $551.8m $854.1m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $47.7m ($19.6m) $318.3m $204.2m $76.2m $77.3m $133.6m
Net Income (Loss) Attributable to Noncontrolling Interest $535k ($4.7m) $938k $1.7m $1.8m
Amortization of Intangible Assets $0 $776k $520k $749k $778k $1.3m $1.7m $4.2m
Depreciation $955k $857k $1.1m $2.4m $3.0m $6.4m $11.0m $5.3m $3.8m $4.4m
Depreciation of property, equipment and leasehold improvement $0 $2.4m $19.7m $40.9m $76.0m $37.6m $27.7m $30.9m
Amortization of right-of-use assets $37k $10.3m $39.4m $67.9m $83.1m $50.1m $35.5m $31.2m
Amortization of offering cost of warrants $0 $12.6m $0 $1.5m $0
Amortization of right of use assets $0 $0 $1.4m $1.9m
Deferred Income Tax Expense (Benefit) $11.0m ($1.7m) ($2.4m) ($5.6m) $633k $1.3m ($391k)
Deferred income tax $1.7m $0 ($511k) $11.0m ($11.3m) ($15.6m) ($38.9m) $4.5m $9.7m ($2.7m)
Deferred tax benefit ($1.2m) $0 $0 $0 $0 ($426k) ($624k) $0
Share-based Payment Arrangement, Noncash Expense $52.7m $142.4m $35.0m $24.1m $51.1m $50.6m $26.6m
Share-based Payment Arrangement, Expense $52.7m $929.1m $223.3m $166.2m $362.9m $369.7m $186.2m
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount $0 $1.0m $0 $4.0m $0 $0 $0
Goodwill, Impairment Loss $0 $0 $0
Share-based compensation expenses $2.1m $2.0m $6.8m $52.7m $929.1m $223.3m $166.2m $362.9m $369.7m $186.2m
Impairment of other non-current assets $12.6m $72k
Deemed dividend to shareholders in connection with the share-based awards to employees of Relx Inc. $325.4m ($80.6m) $396.4m ($426.0m) ($15.0m)
Impairment loss on goodwill and intangible assets $0 $2.3m $10.0m $0 $0
Impairment loss on goodwill $0 $0 $2.3m
Impairment loss of investment in unconsolidated entity $0 $0 $4.0m $0
Gain (Loss) on Disposition of Property Plant Equipment $0 $0 $82k $2.0m $5.2m ($641k) ($178k) ($421k) ($752k) ($26k)
Income Tax Expense (Benefit) $25.9m $35.3m $99.1m $53.9m $7.1m $12.9m $17.0m
Other Nonoperating Income (Expense) $16.5m $5.6m $30.5m $57.9m $30.3m $13.7m $16.1m
Interest expense $1.4m $176k $6.4m
Right-of-use assets obtained in exchange for operating lease obligations $0 $0 $1.2m $7.2m $938k $75k $8.3m
Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement $0 $0 $62k $61k $1.9m
Loss (gain) from disposal of equipment ($41k) ($36k) ($78k) $0 ($89k) $20k $49k ($13k)
Interest expenses related to convertible notes $0 $0 $430k $0
Operating lease liabilities $0 $0 ($1.4m) ($2.8m)
Reversal of interest expense $0 $0 ($81k)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Inventories $207.8m $16.8m $54.8m ($40.4m) $5.5m $3.0m $7.9m
Increase (Decrease) in Accounts Payable $481.8m $147.2m ($26.8m)
Accounts Receivable, Credit Loss Expense (Reversal) $17.9m
Proceeds from Stock Options Exercised $3.5m $1.2m $198k $165k
Foreign Currency Transaction Gain (Loss), before Tax $2.4m $208k ($844k) $81k ($1.9m) $427k
General and Administrative Expense $133.2m $118.3m $105.6m $83.6m $70.1m $70.7m $48.2m
Goodwill $9.4m $8.2m $81.1m
Inventory Write-down $2.6m $14.0m $26.1m $5.0m $3.3m $5.3m
Operating Expenses $524.6m $232.1m $215.5m $180.0m $124.6m $114.2m $122.3m
Proceeds from Contributions from Parent $644.9m $220.6m $0 $0 $0
Financing Receivable, Credit Loss, Expense (Reversal) $402k $3.6m $227k $554k $327k
Unrealized Gain (Loss) on Investments ($787k) $89k ($297k) ($311k)
Loss on disposal of long-term assets $4.1m $1.2m $3.0m $5.5m $180k
Inventory write-downs $2.6m $89.1m $179.7m $35.7m $24.3m $37.0m
Foreign exchange (gain) /loss ($15.4m) ($1.3m) $5.8m ($586k) $14.1m ($3.0m)
Unrealized investment income ($4.3m) ($15.8m) ($68.9m) ($378.1m) ($91.3m) ($45.5m)
Provision for credit losses $0 $0 $2.6m $25.0m $1.6m $4.0m $2.3m
Accounts and notes receivable ($11.1m) ($27.7m) $18.7m $5.9m ($37.4m) $27.0m ($19.3m) ($37.3m)
Receivables from online payment platforms ($4.6m) ($5.0m) $8.7m ($9.1m) $7.0m ($3.9m) $2.2m $5.5m
Inventories $1.2m $3.6m ($14.2m) ($207.8m) ($109.8m) ($349.0m) $278.5m ($39.1m) ($21.7m) ($55.1m)
Amounts due from related parties ($1.9m) ($3.2m) ($113.6m) ($227.4m) $135.9m
Amounts due to related parties $313k $423k $60.4m ($42.5m) ($598k)
Prepayments and other current assets ($6.3m) ($97.1m) $29.1m ($408.4m) $357.9m $29.9m ($2.2m) ($77.6m)
Other non-current assets ($1.5m) $1.5m ($17.6m) $11.2m $2.2m ($4.7m) ($3.9m)
Accounts and notes payable $17.2m $481.8m $960.8m ($170.9m) ($1.0b) ($30.1m) $192.1m ($55.6m)
Contract liabilities $538k $17.9m $302.0m ($33.8m) ($211.4m) ($25.8m) ($39.0m) ($605k)
Salary and welfare benefits payable $134k $1.6m $4.1m $38.2m $137.2m ($9.2m) ($42.6m) ($88.5m) $34.5m $16.5m
Taxes payable $790k ($79k) $5.6m ($2.9m) $360.9m $234.1m ($490.6m) ($36.9m) $49.0m $6.9m
Accrued expenses and other current liabilities $1.2m $22.5m $86.1m $193.9m ($173.3m) ($29.9m) $819k ($13.3m)
Lease liabilities ($37k) ($7.7m) ($39.2m) ($62.1m) ($80.7m) ($59.7m) ($42.5m) ($23.1m)
Purchase of intangible assets ($368k) ($7.4m) ($4.9m) ($7.9m) ($5.9m) ($4.2m) ($2.2m) ($992k)
Purchase of short-term bank deposits ($287.7m) ($2.0b) ($3.2b) ($18.5b) ($4.8b) ($1.1b) ($2.3b)
Purchase of long-term bank deposits ($4.1b) ($8.8b) ($782.3m) ($180.0m) ($380.0m)
Proceeds from maturities of short-term bank deposits $1.7b $1.1b $16.0b $9.7b $2.7b $2.8b
Proceeds from maturities of long-term bank deposits $637.6m $9.6b $240.0m $10.0m
Acquisition of subsidiaries - net of cash acquired (not under common control) $0 $0 $472k $0 ($169.1m) ($599.1m)
Capital contribution from non-controlling interest $0 $0 $3.7m $850k $405k $389k $0 $11.1m
Proceeds from bank loans $500k $0 $45k $2.5m $9.5m $16.0m $198.6m $13.5m $40.0m $92.1m
Repayments of bank loans ($7.5m) $0 ($45k) $0 ($2.5m) ($10.5m) ($200.0m) ($11.0m) ($11.6m) ($99.0m)
Proceeds from exercise of employees' share options $23.9m $8.8m $1.4m $1.2m
Funds provided by related parties $0 $0 $41.1m
Cash payments for repurchase of shares ($127.5m) ($500.4m) ($996.6m) ($589.4m) ($183.9m)
(Gain) loss in fair value changes of warrants liability $0 $0 $0 ($35.4m) ($174.5m) ($6.1m) $934k ($6k)
Allowance for (net recovery of) credit losses $14.5m $1.8m ($841k) $611k $2.2m $8.2m ($659k) ($9.0m) $4.1m ($2.9m)
Allowance (reversal) for slow moving inventories $2.4m $0 $65k $65k $57k $655k $266k $485k $887k ($1.3m)
Restricted shares issued for management and employees ($15.5m) $21.3m $7.9m $6.1m $39.3m $26.2m $22.4m $10.3m
Restricted shares issued for services $2.3m $8.4m $3.1m $846k $34k $0 $8.9m $5.8m $1.1m
Accrued interest income from loans to third parties $0 $0 ($271k) ($8.0m) ($7.0m) ($5.3m)
Accrued interest income from short-term investment $0 $0 ($2.9m) ($885k) ($17k)
Notes receivable ($455k) ($1.5m) $2.1m $922k ($1.1m) ($2.1m) ($4.5m) $7.1m $2.4m $1.3m
Accounts receivable $14.7m ($245k) $12.0m ($40.5m) $18.4m $18.3m $3.8m ($496k) ($12.2m) $1.7m
Other receivables ($1.8m) $4.6m ($1.7m) ($929k) ($287k) ($338k) $286k ($1.3m) $32k ($531k)
Other receivables-related parties $0 $0 ($64k) ($276k) $208k
Purchase advances $4.9m ($10.5m) ($297k) $5.8m $1.2m ($899k) $865k ($2.6m) ($2.4m) ($5.1m)
Contract costs ($127k) $7.6m ($26.9m) ($21.9m) $15.4m ($14.2m) ($4.4m) ($364k)
Prepaid expense $716k ($718k) $319k $317k ($5k) $143k ($274k) $70k ($51k) $12k
Prepaid expense - related parties ($218k) $218k ($433k) $158k $275k $0
Accounts payable ($9.6m) $812k ($2.7m) ($400k) $8.2m ($2.1m) ($5.5m) ($1.7m) ($604k) $1.9m
Other payables $713k ($189k) ($180k) ($862k) ($14k) $5.7m ($6.3m) $2.3m ($3.0m) $3.4m
Other payables-related parties ($921k) $2.2m ($2.6m) $969k $352k ($293k) $628k
Purchase of land use right $0 $0 ($15.0m)
Repayments of loans to third parties $14.2m $435k $1.0m $11.2m $5.2m $171.4m $40.1m $117.5m $100.5m
Payments made for loans to third parties ($1.1m) ($2.0m) ($4.0m) ($9.5m) ($51.6m) ($171.1m) ($103.1m) ($196.4m) ($140.5m)
Payments and prepayments for construction in progress $0 $0 ($9.2m) ($4.6m) ($3.8m) $0 $0 $0 ($219k) ($8.9m)
Repayments of short-term borrowings $0 ($1.3m) ($4.9m) $0 ($1.0m) ($3.4m) ($530k) $0 $0
Proceeds from short-term borrowings-related parties $5.0m $17.4m $18.4m $11.1m $15.0m $10.0m
Repayments of short-term borrowings-related parties ($5.0m) ($16.2m) ($15.9m) ($14.8m) ($9.0m) ($10.0m)
Repayments of long-term borrowings-related party $0 $0 ($372k) ($684k) ($748k) ($817k) ($893k) ($1.5m) $0
Proceeds from warrants issued with ordinary shares $17.5m $0
Proceeds from sale of ordinary shares, net of issuance costs $172k $0 $65.0m $0 $26.1m $81.1m $0 $28.2m $77.7m ($2.5m)
Proceeds from sale of prefunded warrants, net of issuance costs $0 $0 $30.3m $93k $3.8m $0
Redemption of warrants $0 $0 ($32.6m) $0
Capital contribution by controlling shareholders $0 $0 $100k
Cash $4.5m $30.3m $344.0m $104.1m $110.0m $98.9m
Inventories transferred to and used as fixed assets $1.0m $0 $0 $0 $410k $303k $0 ($65k) $0
Payable for construction in progress $0 $0 $3.1m $5.7m $733k $0 $0 $0 $7.3m
Capital contribution receivable due from non-controlling Interest $0 $0 $50.0m $0 $0 $0 $724k
Income from investment in unconsolidated entity $0 $0 $960k ($463k) $267k ($15k) $0 $0
Cancellation of shares issued to Starry Lab $0 $0 ($27.7m) $0
Other payable due to non-controlling interest converted into capital contribution $0 $0 $1.1m $0
Remeasurement gain of previously held equity interests in connection with step acquisition $0 $0 ($979k) $0
Accounts receivable-related party ($3.4m) $0 $3.4m $0
Proceeds from disposal of equipment $60k $52k $32k $0 $900 $0 $0 $32k
Proceeds from short-term borrowings $530k $1.1m $4.6m $1.1m $200k $3.7m $0
Proceeds from stock issuance for warrants exercised $0 $0 $21.1m $0
Proceeds from issuance of convertible notes $0 $0 $42.0m $0
Conversion of convertible notes to 9,225,338 shares of ordinary shares $0 $0 $42.4m $0
Payable for issuance cost of common share $0 $0 $375k $0
Advance from customers $28k ($38k) $3.4m $4.2m
Accrued expenses $0 $0 $9k ($984k)
Investment in unconsolidated entity $0 $0 ($4.0m) ($4.2m) $0
Refund of capital contribution by a non-controlling shareholder $0 $0 ($200k) $0
Investment payable in exchange of interest of FGS $0 $0 $6.4m $0
Deferred revenue ($1.9m) $853k ($1.2m) $0
Payments for land use right $0 $0 ($1.4m) $0
Proceeds from long-term borrowings-related party $0 $0 $10.0m $0
Shares issued to settle salary payable $0 $0 $1.6m $0
Restricted shares issued for management $3.6m $12.9m $14.6m $11.6m
AR and short-term borrowings-related parties offset $200k $0 $0
Loss from warrants redemption $0 $0
Income tax benefit $546k $308k
Repayment of short-term borrowings $0 ($1.3m)
Net Cash Provided by (Used in) Operating Activities ($286k) ($7.4m) ($977k) $338.1m $396.8m $282.4m $70.6m $28.0m $117.0m $157.9m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment ($181k) ($638k) ($29k) $85.0m $1.9m $20.5m $5.6m $4.0m $1.4m $16.8m
Payments to Acquire Businesses, Net of Cash Acquired $85.7m
Purchase of short-term investments ($40.0m) ($5.4b) ($14.3b) ($14.9b) ($8.7b) ($9.8b) ($13.5b)
Purchase of long-term investment securities ($3.5b) ($2.3b) ($2.0b) ($1.0b)
Purchase of long-term investments ($5.0m) ($8.0m) ($3.5b) ($430.8m) ($330k)
Proceeds from maturities of short-term investments $3.0b $9.7b $13.4b $8.4b $13.3b $14.3b
Sale of short-term investments $973.0m $2.5b $2.7b $320.0m $300.9m $87.2m
Net cash generated from/(used in) investing activities ($121k) $12.5m ($397k) ($497.8m) ($1.8b) ($7.9b) ($4.1b) $2.1b $3.0b ($822.2m)
Net Cash Provided by (Used in) Investing Activities ($121k) ($86k) ($497.8m) ($277.8m) ($1.2b) ($599.2m) $294.5m $413.5m ($117.6m)
Cash flows from financing activities:
Proceeds from warrants issued with common stock $0 $0 $212.1m $0 $17.5m
Issuance of common stock in exchange of shares of FGS, net of issuance costs $0 $0 $21.4m $0 $1.7m $0
Cancellation of common stock issued prior years in exchange of shares of FGS , net of issuance costs $0 $0 ($1.7m) $0
Issuance of common stock in exchange of shares of Starry, net of issuance costs $0 $0 $27.7m $0
Issuance of unvested common stock to senior managers $0 $56k $0
Issuance of common stock to redeem warrants $0 $0
Payments for Repurchase of Common Stock $20.0m $72.5m $140.4m $80.7m $26.3m
Proceeds from Noncontrolling Interests $61k $1.6m
Dividends paid $36 $13 $12 $13
Payments of Dividends $36 $13 $12 $13
Dividends Payable, Current $0 $0 $68
Dividend income ($640k) ($640k) ($1.3m)
Dividend from investment $640k $1.3m
Dividend paid ($36.0m) ($92.4m) ($88.8m) ($91.5m)
Proceeds from (Payments for) Other Financing Activities ($15k) ($46k) $93k $569k ($24k) ($225k)
Other financing activities ($15k) ($298k) $640k $4.0m ($176k) ($1.6m)
Net cash (used in) provided by financing activities ($10.2m) ($3.1m) $76.9m $3.5m $33.2m $394.0m ($10.0m) $56.4m $45.0m ($3.3m)
Net Cash Provided by (Used in) Financing Activities $576.4m $26.8m $1.6b ($69.2m) ($168.1m) ($92.9m) ($40.4m)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash ($14k) ($805k) $19.3m ($78.7m) $203.1m $34.3m $30.0m ($99.0m)
Effect of exchange rate fluctuation on cash and restricted cash ($84k) $224k $10.3m $27.7m $1.7m ($8.6m)
Effect of exchange rate fluctuation on cash $63k ($16k) $1.8m $1.4m ($84k) $224k
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $415.9m $148.8m $589.2m ($568.4m) $159.3m $441.7m ($14.2m)
Net increase/(decrease) in cash, cash equivalents and restricted cash $2.0m $68.2m $415.9m $970.7m $3.8b ($3.9b) $1.1b $3.2b ($99.3m)
Net increase (decrease) in cash ($10.5m) $2.0m $41.5m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $74.2m $223.0m $817.5m $186.9m $340.9m $773.3m $792.9m
Cash, cash equivalents and restricted cash at the beginning of the year $68.2m $484.1m $1.5b $5.2b $1.3b $2.4b $5.6b $5.5b
Cash and cash equivalents at the end of the year $12.3m $1.8m $68.2m $135.5m $1.1b $5.2b $1.3b $2.4b $5.6b $5.4b
Restricted cash at the end of the year $38k $348.5m $340.8m $500k $20.6m $29.8m $50.9m $177.9m
Restricted cash $0 $0 $0 $732k $849k $8k
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $903k $571k $868k $1.5m $1.4m $1.7m $203k $1.2m $24k $225k
Income Taxes Paid, Net $142k $284k $379k $27.9m $1.7m $74.0m $107.8m $10.5m $5.6m $12.2m

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.