RLX’s net revenues are hit by transition to China’s new national standards

RLX Technology saw a drop of around 46% in its net revenue for the third quarter of the year but has expressed confidence that its sales will gradually recover and its diversified portfolio will continue to satisfy consumers’ needs.

The Beijing-based manufacturer of the Relx e-cigarette brand reported a net revenue of CNY1.04bn ($15m) in Q3 2022, down from CNY1.67bn ($240m) in the same period a year ago. RLX claimed the decrease was primarily due to the suspension of store expansions and the discontinuation of older products during the transition to the new national standards.