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RLX - RLX Technology Started A Cigarettes Revolution In China
RLX Technology Inc. American Depositary Shares each representing the right to receive one (1) Class A
RLX Technology is the most relevant player in the electric cigarette market in China.
I believe that market leaders usually grow more than the market. Note that RLX seems to be controlling 62.6% of the e-cigarette market in China.
RLX saw that its assets increased by more than 1,200% in 2019 and 175% in 2020. Cash on hand also increased quite a bit.
In the 9M ended September 30, 2020, the company reported cash flow from operations of $191 million, 313% more than that in the 9M ended September 30, 2019.
RLX is enjoying a growing market in China and has a massive market share. If the company continues to spend millions in marketing, I would expect revenue to grow.