RLX - RLX Technology slides 10% on Q3 earnings

RLX Technology (NYSE:RLX) reports Q3 revenue of $260.2M (-34.0%% Q/Q), primarily due to the negative publicity on the e-vapor industry since the latter half of the second quarter and evolving COVID-19 restrictions in response to outbreaks in China, which had an adverse impact on our sales and channel inventory management. Gross margin was 39.1%, compared to 45.1% in the second quarter of 2021. GAAP net income of $151.5M; Non-GAAP net income of $70.3M decrease of 30.5% Q/Q. GAAP basic and diluted net income per ADS of $0.112; Non-GAAP basic and diluted net income per ADS of $0.052. Cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments and long-term bank deposits of $2,284.6M compared to RMB14,880.8 million as of June 30, 2021.  Conference call at 7:00 AM EST. Earlier, RLX Technology reports Q3 results

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RLX Technology slides 10% on Q3 earnings