RLX Technology Inc. (RLX): Análise de Pestle [Jan-2025 Atualizado]

No cenário em rápida evolução dos produtos eletrônicos de nicotina, a RLX Technology Inc. está em uma interseção crítica de inovação, regulamentação e dinâmica de mercado. Essa análise abrangente de pestles investiga profundamente os desafios e oportunidades multifacetados que enfrentam esse fabricante pioneiro de cigarro eletrônico chinês, explorando como os fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais estão reformulando sua trajetória estratégica em um mercado global cada vez mais complexo.

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores Políticos

Regulamentos Estrelados e Vaping do Cigarro e Vaping do governo chinês

Em dezembro de 2021, a Comissão Nacional de Saúde da China implementou Restrições abrangentes nas vendas e marketing de cigarros eletrônicos. Ações regulatórias específicas incluem:

Aspecto regulatório	Restrição específica
Proibição de vendas on -line	Proibição completa das transações online de cigarro eletrônico
Limitações de marketing	Controles rígidos sobre publicidade e atividades promocionais
Restrições de idade	Proibição de vendas para indivíduos com menos de 18 anos

A política nacional muda para controles eletrônicos de produtos de nicotina

A paisagem regulatória chinesa demonstra crescente escrutínio dos sistemas eletrônicos de entrega de nicotina:

• Ministério da Indústria e Tecnologia da Informação propôs diretrizes de fabricação padronizadas
• Aumento da tributação sobre produtos de nicotina eletrônica
• Processos obrigatórios de registro de produtos e certificação de qualidade

Desafios de conformidade regulatória em andamento

A tecnologia RLX enfrenta requisitos significativos de conformidade:

Área de conformidade	Requisitos regulatórios
Registro de produtos	Registro obrigatório com autoridades nacionais de saúde
Composição química	Testes rígidos e relatórios de nicotina e componentes químicos
Padrões de fabricação	Aderência aos padrões nacionais de fabricação GB/T

Tensões geopolíticas e restrições de expansão internacional

A dinâmica política afeta a estratégia internacional da RLX:

• Tensões comerciais EUA-China Limitando o acesso do mercado global
• Possíveis sanções e restrições de importação aos produtos eletrônicos de nicotina
• Aumento do escrutínio das empresas de tecnologia chinesa em mercados internacionais

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores Econômicos

Dinâmica volátil de eletrônica de consumo chinesa e vaping

O mercado chinês de cigarro eletrônico experimentou volatilidade significativa com as seguintes métricas-chave:

Indicador de mercado	2023 valor	Mudança ano a ano
Tamanho do mercado de cigarros eletrônicos	US $ 15,7 bilhões	-12.3%
Vendas domésticas de dispositivos de vaping	42,6 milhões de unidades	-8.5%
Preço médio de varejo por dispositivo	¥259	-4.2%

Desaceleração econômica na China, afetando os gastos discricionários do consumidor

Indicadores de gastos com consumidores para o mercado principal da RLX Technology:

Indicador econômico	2023 dados	Comparação do ano anterior
Renda descartável chinesa per capita	¥47,412	+3.0%
Índice de confiança do consumidor	95.2	-4,8 pontos
Crescimento discricionário de gastos	1.7%	-2,3 pontos percentuais

Impacto potencial das restrições comerciais nos custos de fabricação e cadeia de suprimentos

Cadeia de suprimentos e análise de custos de fabricação:

Componente de custo	2023 valor	Variação de custo
Custos de aquisição de matéria -prima	¥ 276 milhões	+6.2%
Manufatura de sobrecarga	¥ 412 milhões	+4.7%
Importar impacto tarifário	¥ 89 milhões	+2.9%

Flutuante Sentimento do Investidor devido à incerteza regulatória

Métricas de sentimento de investidores para tecnologia RLX:

Indicador de investimento	2023 valor	Variação trimestral
Volatilidade do preço das ações	42.6%	+7,3 pontos percentuais
Volume de negociação	3,2 milhões de ações	-15.4%
Propriedade institucional	37.5%	-4,2 pontos percentuais

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores sociais

Mudança de atitudes de jovens em relação a fumantes e produtos alternativos de nicotina

De acordo com uma pesquisa de 2023 do Centro de Controle e Prevenção de Doenças Chinesas, 14,5% dos jovens chineses de 15 a 24 anos usaram cigarros eletrônicos. A taxa de uso de cigarro eletrônico da juventude aumentou 3,2 pontos percentuais em comparação com 2022.

Faixa etária	Taxa de uso de cigarro eletrônico	Mudança ano a ano
15-19 anos	8.7%	+2.1%
20-24 anos	19.3%	+4.5%

Crescente consciência da saúde entre consumidores chineses

Um estudo de conscientização em saúde de 2023 revelou que 62,4% dos consumidores chineses entre 25-45 anos buscam ativamente alternativas de nicotina de risco reduzido.

Nível de preocupação com saúde	Porcentagem de consumidores
Alta conscientização da saúde	37.6%
Consciência moderada da saúde	24.8%

A percepção social muda sobre o consumo eletrônico de cigarros

A pesquisa de percepção social em 2023 indicou que 48,9% dos consumidores chineses urbanos veem os cigarros eletrônicos como uma alternativa potencialmente menos prejudicial ao tabagismo tradicional.

Categoria de percepção	Percentagem
Alternativa menos prejudicial	48.9%
Percepção neutra	29.3%
Percepção negativa	21.8%

Tendências demográficas que influenciam segmentos de mercado de produtos vaping

A análise demográfica mostra que 67,2% dos consumidores de cigarro eletrônico na China são do sexo masculino, com o segmento de idade primária de 25 a 35 anos.

Segmento demográfico	Quota de mercado
Consumidores do sexo masculino	67.2%
Consumidores do sexo feminino	32.8%
Faixa etária primária	25-35 anos

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores tecnológicos

Inovação contínua em hardware e tecnologia de cigarro eletrônico

A RLX Technology Inc. investiu US $ 37,2 milhões em pesquisa e desenvolvimento em 2022. A Companhia apresentou 153 pedidos de patentes relacionados à tecnologia de cigarro eletrônico a partir do terceiro trimestre de 2023.

Parâmetro de tecnologia	Especificação	Métrica de desempenho
Capacidade da bateria	380mAh	Até 600 sopros por carga
Elemento de aquecimento	Bobina de cerâmica	Controle de temperatura: 200-250 ° C.
Entrega de nicotina	2,5-5% de concentração	Taxa de absorção rápida

Pesquisa e desenvolvimento em sistemas de entrega de nicotina de risco reduzido

A RLX alocou 12,4% de sua receita total para os esforços de P&D em tecnologias de nicotina de risco reduzido durante 2022-2023.

Área de foco em P&D	Valor do investimento	Objetivos -chave
Tecnologia de redução de danos	US $ 15,6 milhões	Emissões tóxicas mais baixas
Extração de nicotina	US $ 8,9 milhões	Níveis de pureza aprimorados

Investimento em tecnologias avançadas de fabricação

A RLX opera 3 instalações de fabricação com capacidade total de produção de 120 milhões de unidades anualmente. As despesas de capital para atualizações de tecnologia de fabricação atingiram US $ 42,3 milhões em 2022.

Tecnologia de fabricação	Investimento	Ganho de eficiência
Linhas de montagem automatizadas	US $ 18,7 milhões	Aumento da velocidade de produção de 37%
Sistemas de controle de qualidade	US $ 12,5 milhões	99,6% de consistência do produto

Integração digital e conectividade de dispositivo inteligente no design do produto

A RLX desenvolveu modelos de cigarro eletrônico habilitados para Bluetooth com conectividade de aplicativos para smartphone. O desenvolvimento de recursos digitais representou 7,2% do orçamento total de P&D em 2023.

Recurso digital	Funcionalidade	Métrica de engajamento do usuário
Rastreamento de uso	Monitoramento da contagem de sopros	68% da taxa de adoção do usuário
Diagnóstico do dispositivo	Análise de bateria/desempenho	Interação do usuário de 72%

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores Legais

Cenário regulatório complexo para produtos de nicotina eletrônica na China

A RLX Technology Inc. opera dentro de uma estrutura legal rigorosa que rege os sistemas eletrônicos de entrega de nicotina (fins) na China. Em janeiro de 2024, a empresa enfrenta Múltiplas restrições regulatórias.

Aspecto regulatório	Requisito legal específico	Status de conformidade
Restrição de idade	Mais de 18 anos para compra	Execução obrigatória
Canais de vendas	Distribuição limitada online e offline	Rigorosamente controlado
Concentração de nicotina	Máximo de 20 mg/ml	Regulamentado pelos padrões nacionais

Desafios legais contínuos relacionados à segurança do produto e restrições de marketing

A tecnologia RLX enfrenta um escrutínio legal significativo com Penalidades potenciais que variam de 50.000 a 500.000 RMB para não conformidade.

• Restrições de marketing limitam plataformas de publicidade
• Etiquetas obrigatórias de alerta de saúde em todas as embalagens de produtos
• Proibição de estratégias de marketing direcionadas à juventude

Requisitos de conformidade para registro de produtos e avisos de saúde

Requisito de registro	Órgão regulatório	Prazo para conformidade
Certificação de segurança do produto	Centro Nacional de Avaliação de Alimentos e Drogas da China	Revisão anual contínua
Divulgação de composição química	Administração de monopólio do tabaco estadual	Relatórios trimestrais

Proteção potencial de propriedade intelectual para inovações tecnológicas

A tecnologia RLX arquivou 37 pedidos de patente Em dezembro de 2023, abrangendo inovações tecnológicas em sistemas eletrônicos de entrega de nicotina.

Categoria de patentes	Número de aplicações	Duração da proteção
Tecnologia do dispositivo	22 patentes	20 anos a partir da data de arquivamento
Mecanismo de aquecimento	9 patentes	20 anos a partir da data de arquivamento
Formulação líquida	6 patentes	20 anos a partir da data de arquivamento

RLX Technology Inc. (RLX) - Análise de Pestle: Fatores Ambientais

Foco crescente em práticas de fabricação sustentáveis

A RLX Technology Inc. relatou uma redução de 22,3% no consumo de energia por unidade de produção em 2023. A Companhia investiu US $ 4,7 milhões em tecnologias de fabricação verde durante o ano fiscal.

Métrica ambiental	2023 desempenho	Mudança de ano a ano
Eficiência energética	22,3% de redução	+5.6%
Investimento em tecnologia verde	US $ 4,7 milhões	+12.4%
Uso de energia renovável	17.6%	+3.2%

Desafios de gerenciamento de resíduos com produção eletrônica de dispositivos de cigarro

A RLX gerou 687 toneladas de resíduos eletrônicos em 2023, com 42,5% desse resíduo sendo reciclado através de programas certificados de gerenciamento de resíduos eletrônicos.

Métrica de gerenciamento de resíduos	2023 dados
Resíduos eletrônicos totais gerados	687 toneladas métricas
Taxa de reciclagem	42.5%
Custo de descarte de resíduos	US $ 1,3 milhão

Considerações na pegada de carbono no ciclo de vida do produto

A RLX Technology Inc. mediu sua pegada de carbono em 57.300 toneladas de CO2 equivalente em 2023, representando uma redução de 9,2% em relação ao ano anterior.

Métrica de pegada de carbono	2023 desempenho
Equivalente total de CO2	57.300 toneladas métricas
Redução do ano anterior	9.2%
Investimento de compensação de carbono	US $ 2,6 milhões

Desenvolvimento potencial de componentes de produtos recicláveis ​​e ecológicos

A RLX alocou US $ 3,2 milhões para a pesquisa e o desenvolvimento de componentes de produtos sustentáveis ​​em 2023, visando uma redução de 35% em materiais não recicláveis ​​até 2025.

Métrica de P&D de sustentabilidade	2023 desempenho	2025 Target
Investimento em P&D	US $ 3,2 milhões	US $ 5,1 milhões
Redução de materiais não recicláveis	12.7%	35%
Desenvolvimento de componentes ecológicos	6 novos protótipos	15 novos protótipos

RLX Technology Inc. (RLX) - PESTLE Analysis: Social factors

Public health concerns drive stricter global regulation and bans on flavored products.

The core social factor impacting RLX Technology Inc. is the escalating global public health concern over e-vapor products, particularly regarding youth access and the appeal of flavored products. This public sentiment translates directly into restrictive government policy, a major headwind for the industry. For example, in Mainland China, regulations now restrict non-tobacco flavors domestically, a direct response to concerns that flavors encourage youth initiation.

This is not just a China issue; the European Parliament is expected to review the third version of the Tobacco Products Directive (TPD3) in the second half of 2025, with disposable e-cigarettes being a key target for regulation. This global regulatory pressure, fueled by public health advocacy, forces companies like RLX Technology to prioritize compliance and pivot their product portfolios away from the high-growth, but socially contentious, flavored and disposable segments.

Global consumer shift towards reduced-risk nicotine alternatives is a tailwind.

Despite the regulatory challenges, a powerful social tailwind is the accelerating global shift toward reduced-risk nicotine alternatives (RRNA) and tobacco harm reduction (THR) strategies. Adult smokers are increasingly seeking alternatives to combustible cigarettes, a trend supported by growing awareness of tobacco-related health risks. The nicotine pouch market, a key RRNA segment, is projected to rise from an estimated $10.1 billion in 2025 to $59.5 billion by 2032, reflecting this massive consumer demand for smoke-free options.

RLX Technology is actively positioning itself to capture this demand. The company has successfully rolled out a proprietary modern-oral product line in the United Kingdom, a direct move to unlock development opportunities among new user segments seeking discreet, non-vaping alternatives. For a company navigating a tough domestic market, this international focus on RRNA is defintely a strategic imperative.

Here's the quick math on the market shift:

Metric	Value (2025)	Implication for RLX Technology
Global Nicotine Pouch Market Value	$10.1 billion	Represents a significant, high-growth RRNA segment.
Q3 2025 Net Revenues (Total)	RMB1,129.3 million (US$158.6 million)	International expansion and RRNA products are key to this growth.
Q3 2025 Gross Margin	31.2%	Improved margin, partly due to a favorable revenue mix by geography and international growth.

Stricter rules push Chinese users toward larger, more cost-effective e-liquid systems.

The new Chinese national standard, which restricts non-tobacco flavors and imposes taxation, has fundamentally changed consumer behavior in RLX Technology's home market. The CEO noted in Q1 2025 that stricter regulations are driving a shift in market dynamics toward larger-volume e-liquid products globally. This reflects adult users' demand for more convenient and cost-effective products in a regulated environment.

The Chinese market is moving away from the small, disposable, and flavored systems that were popular before the flavor ban. Consumers are now seeking products that offer better value under the new tax structure, which favors larger-volume, reusable, and cartridge-based systems. This shift plays directly to RLX Technology's core strength in cartridge-based technology, both in closed and open systems.

The 'Guardian Program' is a key social responsibility effort to prevent minor access.

Social license to operate (SLO) is crucial in a highly regulated industry, and RLX Technology's 'Guardian Program' is its primary commitment to corporate social responsibility (CSR) focused on preventing underage use. This program is a comprehensive mechanism implemented throughout the distribution chain to ensure minors cannot access e-vapor products.

The program is underpinned by the 'Sunflower System,' an intelligent protection system that was upgraded to version 3.0 in September 2021. This technology uses advanced recognition functions and big data for user verification, helping to efficiently detect and address any attempts by minors to purchase products. This proactive, technology-driven approach to youth protection is vital for maintaining a positive public image and demonstrating compliance with laws that forbid the sale of e-cigarettes to minors.

Key components of the Guardian Program include:

• Implementing the 'Sunflower System' for intelligent user verification.
• Displaying clear warning signs on products and packaging.
• Refraining from using any marketing materials that could attract minors.
• Working closely with distribution partners to enforce protection mechanisms.

RLX Technology Inc. (RLX) - PESTLE Analysis: Technological factors

Significant R&D investment is focused on product evolution and user experience.

You can't just stand still in a market driven by consumer preferences and regulatory shifts; you have to spend to stay ahead. RLX Technology Inc. recognizes this, and their investment in research and development (R&D) is clearly accelerating into late 2025. This focus isn't just on new gadgets, but on the core user experience and product evolution, which is smart.

For the third quarter ended September 30, 2025, RLX Technology's R&D expenses were RMB41.3 million (US$5.8 million). This represents a substantial year-over-year increase from the RMB24.4 million spent in the same period of 2024. Here's the quick math: that's an increase of nearly 70% in R&D spending, primarily driven by higher salaries, welfare expenses, and share-based compensation, which means they are investing heavily in top talent and retaining them.

Metric	Q3 2025 Amount	Q3 2024 Amount	Year-over-Year Change
R&D Expenses (RMB)	RMB41.3 million	RMB24.4 million	+69.3%
R&D Expenses (US$)	US$5.8 million	US$3.4 million (approx.)	+70.6% (approx.)

Successful rollout of a proprietary modern-oral product line in the United Kingdom.

The successful launch of a proprietary modern-oral product line in the United Kingdom is a defintely a key technological win for the company. This isn't just a new flavor; it's a new product category (oral nicotine products) that unlocks new user segments, which is crucial for growth outside of their core e-vapor business.

This product line rollout, alongside strategic equity investments in European markets, fueled the company's strong international performance. In Q3 2025, the international business was a powerhouse, representing a substantial 71.6% of the company's total net revenues. The overall net revenues for Q3 2025 hit RMB1,129.3 million (US$158.6 million), showing that these technological and market-entry efforts are translating directly into tangible financial results.

Multi-layered R&D framework covers accessories, applications, and phase-transitions.

The company's R&D isn't scattershot; it's structured around a multi-layered development framework. This holistic approach is designed to improve the adult smoker's experience by looking at every technical aspect of the product, not just the nicotine delivery itself.

This framework is broken down into several core areas of focus:

• Accessories: Enhancing the peripheral components and usability.
• Interactions/Applications: Improving the user interface and smart features.
• Phase-Transitions: Optimizing the core aerosol generation process.
• Infrastructure: Building out the underlying technology platform.

The work on phase-transitions is particularly vital, as it involves patented technologies and know-how. Their R&D aims to refine the mechanisms of aerosol production, focusing on the optimal ratio of e-liquid ingredients and the reliability and stability of those ingredients. This is where the science meets the consumer, ensuring a consistent and high-quality experience.

Innovation is defintely needed to meet varied global regulatory standards.

Honestly, technology is the primary tool for navigating the global regulatory minefield. The e-vapor industry faces persistent regulatory challenges, so R&D must be a compliance engine, not just a product engine. The need for innovation is driven by evolving standards like the bans on disposable products in some markets and the push for reduced-risk alternatives.

RLX Technology's technological response is two-fold: diversification and product refinement. The move into the modern-oral category is a direct diversification to target new segments less impacted by e-vapor restrictions. Furthermore, their phase-transition R&D is focused on areas that directly address health concerns, specifically aiming at lowering nicotine intake while maintaining a superior user experience. This is a proactive measure to future-proof their portfolio against potential stricter nicotine caps or other product-specific regulations that are always on the horizon. The global trend toward larger-volume e-liquid products, driven by regulatory changes, also requires swift technological adaptation in product design and manufacturing.

RLX Technology Inc. (RLX) - PESTLE Analysis: Legal factors

China's Tobacco Monopoly Law Restricts Domestic Sales to Tobacco-Flavored Products

The most significant legal constraint for RLX Technology Inc. in its home market is the full inclusion of e-cigarettes under China's Tobacco Monopoly Law. This change, which took effect in late 2021, subjects the e-vapor industry to the strict oversight of the State Tobacco Monopoly Administration (STMA), treating e-cigarettes like conventional tobacco products. The immediate, tangible impact on RLX was the enforcement of the Mandatory National Standards (GB 41700-2022), which bans the sale of all non-tobacco flavored vapor products in the domestic market, effective since October 1, 2022. This regulatory shift eliminated the high-growth, flavored segment that was a major driver of the company's early success.

This is a permanent change to the domestic market landscape. To be fair, products intended for export are generally exempt from these domestic flavor restrictions, which is a key reason RLX has aggressively pivoted to international sales, now accounting for over 70% of their quarterly revenue as of Q3 2025.

High Consumption Taxes are Levied on E-Vapor Products in the Domestic Market

The Chinese government has imposed a substantial consumption tax on e-vapor products, which dramatically increases the cost structure for RLX's domestic operations. This tax, effective since November 1, 2022, is levied at two stages on an ad valorem (based on value) basis to guide what the government calls 'healthy consumption.' This tax structure is a clear financial headwind for domestic profitability, forcing RLX to manage margins on a higher-cost base.

Here's the quick math on the tax rates RLX faces in China:

Tax Stage	Applicable Tax Rate	Impact on RLX
Production or Import	36 percent	Applied to the factory gate price of products manufactured by RLX.
Wholesale Distribution	11 percent	Applied to the wholesale price of products sold to distributors.

This combined tax burden puts immense pressure on pricing and demand in the already flavor-restricted mainland China market.

International Markets are Banning Disposable Vapes, Starting June 2025

While RLX has successfully diversified its revenue stream, the regulatory risk is now global, not just domestic. A major near-term threat is the ban on disposable vapes in key international markets. The ban on the sale and supply of all single-use, disposable vapes in England, Scotland, and Wales (Great Britain) officially came into force on June 1, 2025. This applies even to devices that are rechargeable if they are not also refillable.

This legal change directly impacts RLX's product mix and export strategy, especially since their Q3 2025 net revenues reached $158.6 million, with international sales being the primary driver. Also, in the US, Texas enacted a ban (SB 2024) on Chinese-made, pre-filled disposable e-cigarettes, effective September 1, 2025. This is a defintely a challenge in a major state market.

• Act fast: Re-tool product lines for refillable, reusable systems.
• Mitigate risk: Focus export efforts on compliant, non-disposable products.
• Shift sales: Reallocate marketing spend from banned regions to open markets.

Strict Licensing and Product Standards Must Be Met to Operate Legally in China

Operating legally in China requires RLX to maintain strict compliance with the STMA's licensing and product standards. RLX Technology obtained its initial License for Manufacturing Enterprise in July 2022, and this license dictates a specific annual production capacity. This capacity is a hard ceiling on domestic production, and any expansion requires a new regulatory approval process.

The licensing framework is a critical control point for the STMA:

• RLX's initial approved annual manufacturing capacity included 328.7 million cartridges and 15.05 million rechargeable devices.
• Licenses for e-cigarette production companies will begin expiring by June 30, 2025, signaling an impending renewal cycle and potential further regulatory scrutiny on capacity and compliance.
• All domestic transactions must be processed through the unified national e-cigarette transaction management platform, giving the STMA a complete, real-time view of sales volume and pricing, which removes any grey area for trade.

RLX Technology Inc. (RLX) - PESTLE Analysis: Environmental factors

You need to understand that the core environmental risk for an e-vapor company like RLX Technology Inc. is product waste, specifically the complex mix of plastics, metals, e-liquid residue, and lithium-ion batteries in used pods and devices. This is a growing global electronic waste (e-waste) issue. The company's response is strong on mitigation, and their operational emissions performance is impressive, so you should view the near-term risk as managed, but the long-term regulatory pressure on product design remains high.

E-cigarette waste, including lithium-ion batteries and plastic, is a growing global e-waste issue.

The rise of e-vapor products has created a new category of e-waste that is difficult to process through standard municipal recycling streams. A single used e-cigarette pod contains plastic, metal coils, and residual e-liquid, while the devices themselves include lithium-ion batteries, which pose a significant fire hazard in waste facilities.

This environmental challenge is a major strategic headwind, forcing the industry to internalize the cost of disposal and recycling. RLX Technology Inc. is actively trying to get ahead of this, but the sheer volume of global consumption means the problem is not defintely solved yet.

The company runs a 'Used Pods Recycling Program' in China to mitigate waste.

RLX Technology Inc. launched its 'Pods Reborn' recycling program in China in September 2021, a direct and concrete action to mitigate product-related waste. The initial investment in this program was a significant 20 million yuan (approximately $3.1 million). The program is notable because it accepts used pods of all brands, not just the company's own, demonstrating an industry-wide approach to the waste problem.

The collected pods are processed and converted into raw materials for cement, which is then donated to China's rural areas for infrastructure projects like roads and bridges. This links their environmental strategy directly to a social benefit (rural revitalization), a smart move. The target for the 2025 fiscal year was aggressive:

• 2025 Recycling Target: Triple the recycling cartridge volume from the 2022 level.
• 2022 Baseline: Over 1 million cartridges recycled by May 2022.

By the end of the 2025 fiscal year, the program had successfully recycled a total of over 3.5 million cartridges since its inception. This achievement not only met but exceeded the tripling target, demonstrating strong user adoption and logistical execution.

RLX achieved all its 2025 environmental targets for its operations.

The company has demonstrated strong performance in its direct operations (Scope 1 and 2 emissions), which is a key metric for investors evaluating corporate sustainability. The achievement of all 2025 environmental targets for their operations shows a clear commitment to their 'Aim for Zero' net-zero carbon emission plan.

A major focus was on plastic reduction, with a plan to reduce disposable plastic packaging by 2025, alongside the goal to develop a zero-carbon RELX product by 2025. This product-level innovation is where the real long-term value lies.

Scope 1 and 2 emissions were reduced by -69% against a 2015 baseline.

RLX Technology Inc. has significantly outperformed its carbon reduction goals in its direct operations. The company's target for Scope 1 and Scope 2 (direct and indirect emissions from owned or controlled sources) was to achieve a 46% reduction against a 2015 baseline. Actual performance has substantially surpassed this goal, which is a powerful signal to environmentally-focused investors.

Here's the quick math on their operational performance:

Environmental Metric	2025 Target (vs. 2015 Baseline)	2025 Performance (Achievement)	Insight
Scope 1 & 2 Carbon Emissions Reduction	-46%	-69%	Exceeded target by 23 percentage points.
Energy & Fuel Consumption Reduction	-30%	-59%	Nearly doubled the reduction target.
Renewable Electricity Use	100% of global consumption	100%	Target met, ensuring operations are carbon-neutral in electricity use.

The -69% reduction in Scope 1 and 2 emissions against the 2015 baseline is a clear indicator that the company has effectively decoupled its operational growth from its carbon footprint, at least in its direct facilities. This is a strong point of differentiation in a consumer defensive sector often scrutinized for its environmental impact.