BEIJING, Dec. 29,
2023 /PRNewswire/ -- RLX Technology Inc. ("RLX
Technology" or the "Company") (NYSE: RLX), a leading global branded
e-vapor company, today announced that its board of directors has
authorized the extension of its existing share repurchase program
established in December 2021 for an
additional 24-month period through December
31, 2025. Under the existing share repurchase
program, the Company may repurchase up to US$500 million of its ordinary shares represented
by ADSs until December 31,
2023. As of December 28, 2023,
the Company had repurchased approximately US$193.5 million of its ordinary shares
represented by ADSs.
The Company's proposed repurchases may be made from time to time
on the open market at prevailing market prices, in privately
negotiated transactions, in block trades, through structured or
derivative transactions and/or through other legally permissible
means, depending on market conditions and in accordance with
applicable rules and regulations. The Company's board of directors
will review the share repurchase program periodically, and may
authorize adjustment of its terms and size. The Company expects to
fund the repurchases out of its existing cash balance.
About RLX Technology Inc.
RLX Technology Inc. (NYSE: RLX) is a leading global branded
e-vapor company. The Company leverages its strong in-house
technology, product development capabilities, and in-depth insights
into adult smokers' needs to develop superior e-vapor products.
For more information, please visit: http://ir.relxtech.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "is/are likely to," "potential," "continue" and
similar statements. Among other things, quotations from management
in this announcement, as well as the Company's strategic and
operational plans, contain forward- looking statements. The Company
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's growth strategies; its future business development,
results of operations and financial condition; trends and
competition in China's e-vapor market; changes in its
revenues and certain cost or expense items; PRC governmental
policies, laws and regulations relating to the Company's industry,
and general economic and business conditions globally and in
China and assumptions underlying
or related to any of the foregoing. Further information regarding
these risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release and in the attachments
is current as of the date of this press release, and the Company
does not undertake any obligation to update such information,
except as required under applicable law.
For more information, please contact:
In China:
RLX Technology Inc.
Head of Capital Markets
Sam Tsang
Email: ir@relxtech.com
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: RLX@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: RLX@tpg-ir.com
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SOURCE RLX Technology Inc.