RLX Technology (RLX) Notes Payables (2019 - 2025)

RLX Technology (RLX) reported Notes Payables of $13.0 million for Q4 2025, down 42.79% on a YoY basis from $22.7 million in Q4 2024, and down 42.79% quarter-over-quarter from $22.7 million in Q4 2024.

RLX Technology (RLX) Notes Payables (2019 - 2025) Analysis & Trends

RLX Technology has reported Notes Payables for 6 years, with the latest figure at $13.0 million in Q4 2025.

  • For the quarter ending Q4 2025, Notes Payables fell 42.79% year-over-year to $13.0 million; the trailing twelve-month figure through Dec 2025 stood at $13.0 million (down 42.79% YoY), and the FY2025 full-year result was $13.2 million, up 140.0% from the prior year.
  • Notes Payables for Q4 2025 stood at $13.0 million, down from $22.7 million in the prior quarter.
  • The five-year high for Notes Payables was $122.4 million in Q4 2021, with the low at $13.0 million in Q4 2025.
  • Historically, Notes Payables has averaged $47.2 million across 4 years, with a median of $26.6 million in 2022.
  • Annual changes were most pronounced in 2021 — Notes Payables fell 12.19% — and 2022, when it tumbled 75.1%.
  • RLX Technology's Notes Payables stood at $122.4 million in 2021, then plunged by 75.1% to $30.5 million in 2022, then declined by 25.55% to $22.7 million in 2024, then plunged by 42.79% to $13.0 million in 2025.
  • The last three Notes Payables figures came in at $13.0 million (Q4 2025), $22.7 million (Q4 2024), and $30.5 million (Q4 2022), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Philip Morris International 277.78 Bn 274.30 Bn 6.91 Bn
2 Altria 120.77 Bn 117.29 Bn 3.51 Bn
3 British American Tobacco p.l.c 45.84 Bn 40.53 Bn -
4 Turning Point Brands 1.66 Bn 1.49 Bn 68.30 Mn
5 Universal 1.35 Bn 1.30 Bn 98.47 Mn
6 RLX Technology 355.86 Mn -269.04 Mn 73.10 Mn
7 Ispire Technology 97.40 Mn 79.11 Mn 1.99 Mn
8 Rythm 54.37 Mn 21.11 Mn 10.40 Mn
9 Greenlane Holdings 11.69 Mn -26.54 Mn 217,000.00
10 22nd Century 2.50 Mn -7.04 Mn -636,000.00

Historic Data

Download Data
DateValue
Dec 31, 2025 12.99 Mn
Dec 31, 2024 22.70 Mn
Dec 31, 2022 30.49 Mn
Dec 31, 2021 122.43 Mn
Dec 31, 2020 139.43 Mn
Dec 31, 2019 49.45 Mn