RLX blames ‘volatile market’ for what it expects to be a temporary revenue drop

RLX Technology saw a drop of 34% in its net revenue for the third quarter of the year but has expressed optimism that this will be a temporary reversal and that recent investments will boost its growth.

The Beijing-based manufacturer of the Relx e-cigarette brand reported a net revenue of RMB1.67bn ($260m) in Q3 2021, down from RMB2.54bn ($400m) in the second quarter. Compared with the third quarter of 2020, the company’s net revenue this year was up by 50%.

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