RLX TECH. SP.ADR/1 CL.A (3CM) - Net Assets
Based on the latest financial reports, RLX TECH. SP.ADR/1 CL.A (3CM) has net assets worth €15.73 Billion EUR (≈ $18.39 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€17.93 Billion ≈ $20.96 Billion USD) and total liabilities (€2.20 Billion ≈ $2.57 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Explore 3CM cash flow metrics to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €15.73 Billion |
| % of Total Assets | 87.74% |
| Annual Growth Rate | 3.86% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 6.46 |
RLX TECH. SP.ADR/1 CL.A - Net Assets Trend (2021–2025)
This chart illustrates how RLX TECH. SP.ADR/1 CL.A's net assets have evolved over time, based on quarterly financial data. Explore long-term investment intensity of RLX TECH. SP.ADR/1 CL.A to see how much of total assets are deployed in long-term investments.
Annual Net Assets for RLX TECH. SP.ADR/1 CL.A (2021–2025)
The table below shows the annual net assets of RLX TECH. SP.ADR/1 CL.A from 2021 to 2025. For live valuation and market cap data, see market value of RLX TECH. SP.ADR/1 CL.A.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €15.73 Billion ≈ $18.39 Billion |
-1.62% |
| 2024-12-31 | €15.99 Billion ≈ $18.69 Billion |
+2.51% |
| 2023-12-31 | €15.60 Billion ≈ $18.24 Billion |
+0.37% |
| 2022-12-31 | €15.54 Billion ≈ $18.17 Billion |
+14.95% |
| 2021-12-31 | €13.52 Billion ≈ $15.80 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to RLX TECH. SP.ADR/1 CL.A's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 115.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €4.12 Billion | 26.35% |
| Other Components | €11.51 Billion | 73.65% |
| Total Equity | €15.63 Billion | 100.00% |
RLX TECH. SP.ADR/1 CL.A Competitors by Market Cap
The table below lists competitors of RLX TECH. SP.ADR/1 CL.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangzhou Sanfu New Materials Technology Co. Ltd. A
SHG:688359
|
$1.99 Billion |
|
NV Bekaert SA
BR:BEKB
|
$1.99 Billion |
|
Eris Lifesciences Limited
NSE:ERIS
|
$1.99 Billion |
|
Liberty Media Corporation Series A Liberty Formula One Common Stock
NASDAQ:FWONA
|
$1.99 Billion |
|
Eugene Technology Co.Ltd
KQ:084370
|
$1.99 Billion |
|
WK Kellogg Co
NYSE:KLG
|
$1.99 Billion |
|
Sarda Energy & Minerals Limited
NSE:SARDAEN
|
$1.99 Billion |
|
Uniti Group Inc
NASDAQ:UNIT
|
$1.99 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RLX TECH. SP.ADR/1 CL.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 15,988,216,000 to 15,633,749,000, a change of -354,467,000 (-2.2%).
- Net income of 921,867,000 contributed positively to equity growth.
- Dividend payments of 91,471,000 reduced retained earnings.
- Share repurchases of 183,930,000 reduced equity.
- Other factors decreased equity by 1,000,933,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €921.87 Million | +5.9% |
| Dividends Paid | €91.47 Million | -0.59% |
| Share Repurchases | €183.93 Million | -1.18% |
| Other Changes | €-1.00 Billion | -6.4% |
| Total Change | €- | -2.22% |
Book Value vs Market Value Analysis
This analysis compares RLX TECH. SP.ADR/1 CL.A's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.15x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €8.63 | €1.87 | x |
| 2022-12-31 | €10.19 | €1.87 | x |
| 2023-12-31 | €12.28 | €1.87 | x |
| 2024-12-31 | €13.12 | €1.87 | x |
| 2025-12-31 | €12.85 | €1.87 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RLX TECH. SP.ADR/1 CL.A utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.90%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.49%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 1.15x
- Recent ROE (5.90%) is below the historical average (7.40%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 14.98% | 23.76% | 0.52x | 1.21x | €673.22 Million |
| 2022 | 9.26% | 27.30% | 0.32x | 1.05x | €-115.69 Million |
| 2023 | 3.42% | 42.95% | 0.08x | 1.05x | €-1.03 Billion |
| 2024 | 3.45% | 22.57% | 0.14x | 1.06x | €-1.05 Billion |
| 2025 | 5.90% | 25.49% | 0.20x | 1.15x | €-641.51 Million |
Industry Comparison
This section compares RLX TECH. SP.ADR/1 CL.A's net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $5,432,000,000
- Average return on equity (ROE) among peers: 38.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RLX TECH. SP.ADR/1 CL.A (3CM) | €15.73 Billion | 14.98% | 0.14x | $1.99 Billion |
| IMPERIAL BRANDS PLC ADR/1 (ITBA) | $5.43 Billion | 38.13% | 4.29x | $29.11 Billion |
About RLX TECH. SP.ADR/1 CL.A
RLX Technology Inc., through its subsidiaries, develops, manufactures, and sells e-vapor products in the People's Republic of China and internationally. It serves the product through offline distributors. The company was founded in 2018 and is headquartered in Shenzhen, the People's Republic of China.