Q2 2024 RLX Technology Inc Earnings Call Transcript
Key Points
- RLX Technology Inc (RLX) reported a significant year-over-year revenue growth of 66%, reaching RMB627 million in Q2 2024.
- The company has successfully expanded its international presence, particularly in Asia, and is planning further global expansion.
- RLX Technology Inc (RLX) has introduced innovative products, such as the mega-sized Daqian series and the RELX Pod Pro series, to cater to diverse market needs.
- The company's quality and safety laboratory passed the CNAS assessment, enhancing its global recognition and market entry capabilities.
- RLX Technology Inc (RLX) has shown strong ESG commitment, with significant achievements in anti-counterfeiting efforts and public health initiatives.
- The gross profit margin for Q2 2024 was slightly down year-over-year at 25.2%, due to changes in revenue composition.
- The company recorded an operating loss of RMB33 million for the second quarter, despite achieving a positive non-GAAP operating profit.
- Regulatory uncertainties, such as the upcoming ban on disposable products in certain countries, pose significant challenges for the company's international expansion.
- The prevalence of illegal products in the Chinese market continues to impact the recovery of compliance products.
- Tracking the market share of illegal products has become increasingly difficult, complicating the assessment of market dynamics.
Hello, ladies and gentlemen. Thank you for standing by for RLX Technology's second-quarter 2024 earnings conference call. (Operator Instructions) Today's conference call is being recorded and is expected to last for about 40 minutes.
I will now turn the call over to your host, Mr. Sam Tsang, Head of Capital Markets for the company. Please go ahead, Sam.
Thank you very much. Hello, everyone, and welcome to RLX Technology's second-quarter 2024 earnings conference call. The company's financial and operational results were released through PR Newswire services earlier today and have been made available online. You can also view the earnings press release by visiting the IR section of our website at ir.relxtech.com.
Participants on today's call will include our Chief Executive Officer, Ms. Kate Wang; our Chief Financial Officer, Mr. Chao Lu; and myself, Sam Tsang, Head of Capital Markets of the company. Before we continue, please note that today's discussion will contain forward-looking
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