RLX Technology Inc. (RLX) Q1 2023 Earnings Call Transcript

RLX Technology Inc. (NYSE:RLX) Q1 2023 Earnings Conference Call May 17, 2023 8:00 AM ET

Company Participants

Sam Tsang - Head, IR

Kate Wang - CEO

Chao Lu - CFO

Conference Call Participants

Lydia Ling - Citi

Charlie Chen - China Renaissance

Operator

Hello, ladies and gentlemen. Thank you for standing by for the RLX Technology Incorporated First Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After management's remarks, there will be a question-and-answer session. 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.

Sam Tsang

Thank you very much. Hello, everyone, and welcome to RLX Technology's first quarter 2023 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 CEO, Ms. Kate Wang; our CFO, Mr. Chao Lu and myself.

Before we continue, please note that today’s discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements typically contain words such as may, will, expect, targets, estimates, intend, believe, potential, continue or other similar expressions. Forward-looking statements involve inherent risks and uncertainties.

The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, many of which factors are beyond our control. The company, its affiliates, advisors and representatives do not undertake any obligation to update these forward-looking information, except as required under the applicable law.

Please note that RLX Technology’s earnings press release and this conference call include discussions of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. RLX press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures.

I will now turn the call over to Ms. Kate Wang. Please go ahead.

Kate Wang

Thank you, Sam, and thanks, everyone, for making time to join our conference - earnings conference call today. During the first quarter, we continued optimizing our compliant GB product offerings under, the new regulatory framework and made steady progress, thanks to our effective product strategy, and constant efforts to enhance our R&D capabilities. However, as we strive to develop new improved product to meet our users' diverse demand, the prevalence of illegal products continues to pose near-term challenges, to our business in the broader industry.