Home Equities Score RLX Technology Inc. (RLX) Stock on the Rise Following Disclosure of Promising...

RLX Technology Inc. (RLX) Stock on the Rise Following Disclosure of Promising Q1 2021 Financial Reports

RLX Technology Inc. (RLX) stock prices were up by 4.77% as of the market closing on June 1st, 2021, bringing the price per share up to USD$11.85 at the end of the trading day. Subsequent pre-market fluctuations saw the price rise by another 10.13%, bringing it up to USD$13.05.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Net Revenues

Net revenues were up by 48.2% in the first quarter of the fiscal year 2021 as compared to the same time period of the prior year, with the most recently disclosed financial reports for the 2021 quarter indicating USD$366.1 million in net revenue. The substantial increase can largely be attributed to an increase in net revenues from sale to offline distributors, which, in turn, was largely due to the expansion of the company’s distribution and retail network.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

  Read More

Gross Margins and Profits

Gross profits for Q1 2021 were up by 59.1% as compared to the numbers reported for the first quarter of the prior fiscal year, with recent gross profits amounting to USD$168.5 million. Gross margins were also up, reported at 46% in the first quarter of fiscal 2021 up from the 42.9% reported a year earlier.

Selling and G&A Expenses

Selling expenses were up by 48.2% to USD$44.5 million in Q1 2021, owing largely to the increase in salaries and welfare benefits, higher branding material costs, and an increase in shipping expenses. An increase in salaries and welfare benefits also contributed to general and administrative costs increasing by 59.5% to USD$108.8 million in Q1 2021. This increase was also facilitated by an increase in share-based compensation expenses, which were partially offset by a decrease in legal and other consulting fees.

Solid Liquidity Position

As of March 31st, 2021, RLX reported having USD$2,203.6 million in cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, and long-term bank deposits. The massive increase from liquidity reports as of December 31st, 2020 is largely attributable to net proceeds generated through the company’s initial public offering in January 2021. Roughly USD$1647.2 million was denominated in U.S. dollars as of March 31st, 2021.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Future Outlook for RLX

Armed with a solid liquidity position, RLX is poised to capitalize on the promising numbers reported for the start of the fiscal year 2021, with the company anticipating a continued trajectory of success through to the end of the year and beyond. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Related News

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

Arrival Inc. (ARVL) stock falls during pre-market trading. Here’s what you should know?

Arrival Inc. (NASDAQ: ARVL) stock plunged by 4.96% at last close while the ARVL stock price declines by 9.68% in the pre-market trading session....

Why Zomedica Corp. (ZOM) stock jumped on Thursday?

Zomedica Corp. (ZOM) shares were climbed 4.04% in after-hours on Thursday, June 17, 2021, and close the day at $0.94 per share. Earlier, ZOM's...

Novan Inc. (NOVN) stock plunged during pre-market. Let’s find out why?

Novan Inc. (NASDAQ: NOVN) stock declined by 9.36% at last close while the NOVN stock price plunged by 18.77% in the pre-market trading. Novan...

Why Toughbuilt Industries Inc (TBLT) stock went up on Wednesday?

Toughbuilt Industries Inc (TBLT) stock jumped 12.35% in the after-market on Wednesday, June 16, 2021, and close at $0.96 per share. Earlier in the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam