Technology

RLX Technology Announces Unaudited Second Quarter 2026 Financial Results

Published

2 hours ago

August 14, 2026

SHENZHEN, China, Aug. 14, 2026 /PRNewswire/ — RLX Technology Inc. (“RLX Technology” or the “Company”) (NYSE: RLX), a leading global branded e-vapor company, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights

Net revenues were RMB1,010.5 million (US$148.9 million) in the second quarter of 2026, increasing by 14.8% from RMB880.0 million in the same period of 2025.Gross margin was 35.4% in the second quarter of 2026, compared with 27.5% in the same period of 2025.Non-GAAP income from operations[1] was RMB149.6 million (US$22.0 million) in the second quarter of 2026, increasing by 28.8% from RMB116.2 million in the same period of 2025.U.S. GAAP net income was RMB222.0 million (US$32.7 million) in the second quarter of 2026, increasing by 1.6% from RMB218.5 million in the same period of 2025.Non-GAAP net income[1] was RMB238.8 million (US$35.2 million) in the second quarter of 2026, compared with RMB291.2 million in the same period of 2025.

“We delivered solid second quarter results as we continued to strengthen our global business with a focus on quality, stability, and long-term resilience,” said Ms. Ying (Kate) Wang, Co-founder, Chairperson, and Chief Executive Officer of RLX Technology. “As our industry matures, competitive advantage is increasingly defined not only by product innovation but also by retail execution and shelf-space leadership. We have refined our global route-to-market strategies accordingly – deepening store-level execution in Asia while advancing a dual-engine approach in Europe that balances strategic investment in top-tier local partners with organic growth. At the same time, we are expanding beyond our leadership in e-vapor into a broader portfolio of smoke-free products, scaling our newly launched modern oral nicotine pouches and building our presence across other smokeless categories. Supported by a rock-solid balance sheet and disciplined capital management, we are confident that pairing greater channel autonomy with user-centric products and multi-category innovation will continue to drive sustainable growth.”

Mr. Chao Lu, Chief Financial Officer of RLX Technology, commented, “Second quarter net revenues were RMB1.01 billion, up 14.8% year over year, with gross profit rising 47.8% year over year to RMB357.8 million. As expected, revenues and gross profit moderated from the first quarter, which included a disclosed one-time benefit due to the change of export related regulation. In July 2026, we acquired a 51% equity interest in one of Western Europe’s largest distributors of next-generation smoke-free and FMCG products, deepening our presence in the region. The entity brings an extensive offline distribution footprint and a proprietary B2B digital marketplace serving a broad base of retail merchants, supporting long-term regional development. Moving forward, we remain dedicated to disciplined capital allocation, balancing strategic growth investments with ongoing shareholder returns to maximize long-term shareholder value.”

Second Quarter 2026 Financial Results

Net revenues were RMB1,010.5 million (US$148.9 million) in the second quarter of 2026, increasing by 14.8% from RMB880.0 million in the same period of 2025. The increase was primarily due to the Company’s international expansion and contributions from the Company’s May 2025 acquisition. Net revenues from international business represented 68.5% of net revenues for the period.

Gross profit was RMB357.8 million (US$52.7 million) in the second quarter of 2026, increasing by 47.8% from RMB242.1 million in the same period of 2025.

Gross margin increased to 35.4% in the second quarter of 2026 from 27.5% in the same period of 2025, primarily due to a favorable change in the revenue mix and further supply chain optimization.

Operating expenses were RMB227.5 million (US$33.5 million) in the second quarter of 2026, compared with RMB203.1 million in the same period of 2025. The increase was driven by higher salary and welfare expenses primarily related to the Company’s May 2025 acquisition, partially offset by a significant decrease in share-based compensation expenses.

Selling expenses were RMB123.7 million (US$18.2 million) in the second quarter of 2026, compared with RMB84.6 million in the same period of 2025, primarily due to an increase in salary and welfare expenses, branding expenses, depreciation and amortization expenses related to the Company’s May 2025 acquisition, partially offset by a decrease in share-based compensation expenses.

General and administrative expenses were RMB74.4 million (US$11.0 million) in the second quarter of 2026, compared with RMB88.4 million in the same period of 2025, primarily due to a significant decrease in share-based compensation expenses, partially offset by an increase in legal and other consulting fees.

Research and development expenses were RMB29.4 million (US$4.3 million) in the second quarter of 2026, compared with RMB30.1 million in the same period of 2025. The slight decrease was primarily due to a decrease in share-based compensation expenses.

U.S. GAAP income from operations was RMB130.4 million (US$19.2 million) in the second quarter of 2026, increasing by 234.7% from RMB39.0 million in the same period of 2025.

Non-GAAP income from operations was RMB149.6 million (US$22.0 million) in the second quarter of 2026, increasing by 28.8% from RMB116.2 million in the same period of 2025.

Income tax expense was RMB24.8 million (US$3.7 million) in the second quarter of 2026, compared with RMB28.5 million in the same period of 2025.

U.S. GAAP net income was RMB222.0 million (US$32.7 million) in the second quarter of 2026, increasing by 1.6% from RMB218.5 million in the same period of 2025.

Non-GAAP net income was RMB238.8 million (US$35.2 million) in the second quarter of 2026, compared with RMB291.2 million in the same period of 2025.

U.S. GAAP basic and diluted net income per American depositary share (“ADS”) were RMB0.178 (US$0.026) and RMB0.167 (US$0.025), respectively, in the second quarter of 2026, compared with U.S. GAAP basic and diluted net income per ADS of RMB0.178 and RMB0.166, respectively, in the same period of 2025.

Non-GAAP basic and diluted net income per ADS[2] were RMB0.190 (US$0.028) and RMB0.178 (US$0.026), respectively, in the second quarter of 2026, compared with non-GAAP basic and diluted net income per ADS of RMB0.234 and RMB0.218, respectively, in the same period of 2025.

[1] Non-GAAP net income and non-GAAP income from operations are non-GAAP financial measures. For more information on the
Company’s non-GAAP financial measures, please see the section “Non-GAAP Financial Measures” and the table captioned “Unaudited
Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.

[2] Non-GAAP basic and diluted net income per ADS is a non-GAAP financial measure. For more information on the Company’s non-GAAP
financial measures, please see the section “Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliation of GAAP
and Non-GAAP Results” set forth at the end of this press release.

Balance Sheet and Cash Flow

As of June 30, 2026, the Company had cash and cash equivalents, restricted cash, short-term bank deposits, net, short-term investments, long-term bank deposits, net, and long-term investment securities, net, of RMB13,883.4 million (US$2,046.2 million), compared with RMB14,529.7 million as of March 31, 2026. In the second quarter of 2026, net cash used in operating activities was RMB63.2 million (US$9.3 million).

Strategic Investment

In July 2026, RLX Technology acquired a 51% equity interest and board control in a leading Western European distributor of next-generation smoke-free and FMCG products. With its multi-channel logistics network and a proprietary B2B digital ordering platform, the entity provides an established and highly efficient route-to-market across key European territories. Through this strategic investment, RLX Technology intends to leverage its global supply chain capabilities and capital resources to drive deep commercial collaboration with this entity, aiming to optimize costs and capture cross-selling synergies. Its financial results will be consolidated into RLX Technology’s financial statements beginning in the third quarter of 2026.

Conference Call

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 14, 2026 (8:00 PM Beijing/Hong Kong Time on August 14, 2026).

Dial-in details for the earnings conference call are as follows:

United States (toll-free):

+1-888-317-6003

International:

+1-412-317-6061

Hong Kong, China:

+852-5808-1995

Mainland China:

400-120-6115

Participant Code (English line):

7036236

Participant Code (Chinese simultaneous interpretation line):

7119184

Participants may choose between the English and Chinese simultaneous interpretation options above when joining the conference call. Please note that the Chinese simultaneous interpretation option is in listen-only mode. Participants should dial in 10 minutes before the scheduled start time and ask to be connected to the call for “RLX Technology Inc.” using the appropriate English or Chinese Participant Code above.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.relxtech.com.

A replay of the conference call will be accessible approximately two hours after the conclusion of the call until August 21, 2026, by dialing the following telephone numbers:

United States:

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code (English line):

9911837

Replay Access Code (Chinese line):

6469534

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.

Non-GAAP Financial Measures

The Company uses non-GAAP net income, non-GAAP income from operations and non-GAAP basic and diluted net income per ADS, each a non-GAAP financial measure, in evaluating its operating results and for financial and operational decision-making purposes. Non-GAAP net income represents net income excluding share-based compensation expenses, amortization and depreciation of assets arising from fair value step-up in business acquisitions, and tax effects on non-GAAP adjustments. Non-GAAP income from operations represents net income from operations excluding share-based compensation expenses and amortization and depreciation of assets arising from fair value step-up in business acquisitions. Non-GAAP basic and diluted net income per ADS is computed using non-GAAP net income attributable to RLX Technology Inc. and the same number of ADSs used in the U.S. GAAP basic and diluted net income per ADS calculation.

The Company presents these non-GAAP financial measures because they are used by the management to evaluate its operating performance and formulate business plans. The Company believes that they help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that are included in net income. The Company also believes that the use of the non-GAAP measures facilitates investors’ assessment of its operating performance, as they could provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by the management in its financial and operational decision making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. They should not be considered in isolation or construed as an alternative to net income, basic and diluted net income per ADS or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review its historical non-GAAP financial measures against the most directly comparable U.S. GAAP measures. The non-GAAP financial measures here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and non-GAAP Results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.7851 to US$1.00, the exchange rate on June 30, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

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 the global e-vapor market; changes in its revenues and certain cost or expense items; governmental policies, laws and regulations across various jurisdictions 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

RLX TECHNOLOGY INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands)

As of

December 31,

June 30,

2025

2026

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

5,367,139

4,629,116

682,247

Restricted cash

177,873

210,875

31,079

Short-term bank deposits, net

2,310,486

2,110,069

310,985

Receivables from online payment platforms

4,080

10,281

1,515

Short-term investments

2,326,610

2,019,812

297,683

Accounts and notes receivable, net

190,442

333,047

49,085

Inventories

297,682

416,246

61,347

Amounts due from related parties

210,239

483,381

71,242

Prepayments and other current assets, net

319,478

577,277

85,080

Total current assets

11,204,029

10,790,104

1,590,263

Non-current assets:

Property, equipment and leasehold improvement, net

245,981

258,924

38,161

Intangible assets, net

213,141

183,496

27,044

Long-term investments, net

8,330

1,228

Deferred tax assets, net

29,104

43,808

6,456

Right-of-use assets, net

82,430

80,710

11,895

Long-term bank deposits, net

433,618

526,412

77,584

Long-term investment securities, net

5,116,336

4,387,136

646,584

Goodwill

567,181

561,665

82,779

Other non-current assets, net

29,412

10,626

1,566

Total non-current assets

6,725,533

6,061,107

893,297

Total assets

17,929,562

16,851,211

2,483,560

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts and notes payable

403,708

229,443

33,817

Contract liabilities

84,003

82,313

12,131

Salary and welfare benefits payable

93,947

51,820

7,637

Taxes payable

159,718

192,901

28,430

Short-term loan

92,100

165,168

24,343

Accrued expenses and other current liabilities

149,552

162,807

23,995

Amounts due to related parties

474,627

109,875

16,194

Dividend payable

478,833

–

Lease liabilities – current portion

28,588

22,768

3,356

Total current liabilities

1,965,076

1,017,095

149,903

Non-current liabilities:

Deferred tax liabilities

112,912

98,169

14,468

Lease liabilities – non-current portion

55,671

56,109

8,269

Other non-current liability

64,291

53,647

7,907

Total non-current liabilities

232,874

207,925

30,644

Total liabilities

2,197,950

1,225,020

180,547

Shareholders’ Equity:

Total RLX Technology Inc. shareholders’ equity

15,633,749

15,512,261

2,286,223

Noncontrolling interests

97,863

113,930

16,790

Total shareholders’ equity

15,731,612

15,626,191

2,303,013

Total liabilities and shareholders’ equity

17,929,562

16,851,211

2,483,560

RLX TECHNOLOGY INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(All amounts in thousands, except for share and per share data)

For the three months ended

For the six months ended

June 30,

March 31,

June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Total net revenues

879,952

1,585,821

1,010,453

148,922

1,688,252

2,596,274

382,643

Cost of revenues

(552,037)

(965,446)

(559,057)

(82,395)

(1,029,563)

(1,524,503)

(224,684)

Excise tax on products

(85,835)

(116,119)

(93,563)

(13,790)

(185,658)

(209,682)

(30,903)

Gross profit

242,080

504,256

357,833

52,737

473,031

862,089

127,056

Operating expenses:

Selling expenses

(84,649)

(122,039)

(123,729)

(18,235)

(143,638)

(245,768)

(36,222)

General and administrative expenses

(88,406)

(107,207)

(74,366)

(10,960)

(155,874)

(181,573)

(26,761)

Research and development expenses

(30,067)

(30,375)

(29,357)

(4,327)

(57,122)

(59,732)

(8,803)

Total operating expenses

(203,122)

(259,621)

(227,452)

(33,522)

(356,634)

(487,073)

(71,786)

Income from operations

38,958

244,635

130,381

19,215

116,397

375,016

55,270

Other income:

Interest income, net

142,851

113,820

109,116

16,082

278,804

222,936

32,857

Investment income

24,832

9,718

7,117

1,049

33,218

16,835

2,481

Others, net

40,324

(28,761)

235

69,467

(28,526)

(4,204)

Income before income tax

246,965

339,412

246,849

36,381

497,886

586,261

86,404

Income tax expense

(28,470)

(45,257)

(24,846)

(3,662)

(56,651)

(70,103)

(10,332)

Net income

218,495

294,155

222,003

32,719

441,235

516,158

76,072

Less: net income attributable to noncontrolling
interests

1,378

10,019

4,257

627

2,078

14,276

2,104

Net income attributable to RLX Technology Inc.

217,117

284,136

217,746

32,092

439,157

501,882

73,968

Other comprehensive (loss)/income:

Foreign currency translation adjustments

(26,510)

(173,952)

(181,016)

(26,678)

(42,181)

(354,968)

(52,316)

Unrealized income/(loss) on long-term investment
securities

698

(22,208)

2,726

402

2,765

(19,482)

(2,871)

Total other comprehensive loss

(25,812)

(196,160)

(178,290)

(26,276)

(39,416)

(374,450)

(55,187)

Total comprehensive income

192,683

97,995

43,713

6,443

401,819

141,708

20,885

Less: total comprehensive income attributable to
noncontrolling interests

632

11,699

4,368

644

1,268

16,067

2,368

Total comprehensive income attributable to RLX
Technology Inc.

192,051

86,296

39,345

5,799

400,551

125,641

18,517

Net income per ordinary share/ADS

Basic

0.178

0.231

0.178

0.026

0.359

0.408

0.060

Diluted

0.166

0.216

0.167

0.025

0.335

0.383

0.056

Weighted average number of ordinary shares/ADSs

Basic

1,221,705,674

1,232,448,894

1,226,191,545

1,224,005,302

1,229,302,934

Diluted

1,309,486,924

1,313,480,246

1,307,483,883

1,309,617,920

1,311,101,429

RLX TECHNOLOGY INC.

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share and per share data)

For the three months ended

For the six months ended

June 30,

March 31,

June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Income from operations

38,958

244,635

130,381

19,215

116,397

375,016

55,270

Add: share-based compensation expenses

Selling expenses

13,262

5,919

3,327

490

16,572

9,246

1,363

General and administrative expenses

38,368

45,841

4,218

622

62,639

50,059

7,378

Research and development expenses

7,188

3,494

1,516

223

7,933

5,010

738

Amortization and depreciation of assets resulting from
business acquisitions

Cost of revenues

13,347

–

13,347

–

Selling expenses

4,881

9,956

9,707

1,431

6,884

19,663

2,898

General and administrative expenses

167

469

455

195

924

136

Non-GAAP income from operations

116,171

310,314

149,604

22,048

223,967

459,918

67,783

Net income

218,495

294,155

222,003

32,719

441,235

516,158

76,072

Add: share-based compensation expenses

58,818

55,254

9,061

1,335

87,144

64,315

9,479

Amortization and depreciation of assets resulting from
business acquisitions

18,395

10,425

10,162

1,498

20,426

20,587

3,034

Tax effects on non-GAAP adjustments

(4,513)

(2,527)

(2,465)

(363)

(4,938)

(4,992)

(736)

Non-GAAP net income

291,195

357,307

238,761

35,189

543,867

596,068

87,849

Net income attributable to RLX Technology Inc.

217,117

284,136

217,746

32,092

439,157

501,882

73,968

Add: share-based compensation expenses

58,818

55,254

9,061

1,335

87,144

64,315

9,479

Amortization and depreciation of assets resulting from
business acquisitions(a)

13,002

7,613

7,410

1,092

15,033

15,023

2,214

Tax effects on non-GAAP adjustments(a)

(3,164)

(1,824)

(1,777)

(262)

(3,589)

(3,601)

(531)

Non-GAAP net income attributable to RLX Technology
Inc.

285,773

345,179

232,440

34,257

537,745

577,619

85,130

Non-GAAP net income per ordinary share/ADS

– Basic

0.234

0.280

0.190

0.028

0.439

0.470

0.069

– Diluted

0.218

0.263

0.178

0.026

0.411

0.441

0.065

Weighted average number of ordinary shares/ADSs

– Basic

1,221,705,674

1,232,448,894

1,226,191,545

1,224,005,302

1,229,302,934

– Diluted

1,309,486,924

1,313,480,246

1,307,483,883

1,309,617,920

1,311,101,429

Note (a): The amortization and depreciation expense and related tax effect attributable to noncontrolling interests have been excluded from the presentation in the reconciliation items for GAAP
and Non-GAAP results.

RLX TECHNOLOGY INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands)

For the three months ended

For the six months ended

June 30,

March 31,

June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Net cash generated from/(used in) operating activities

229,616

(68,841)

(63,227)

(9,319)

436,781

(132,068)

(19,464)

Net cash (used in)/generated from investing activities

(816,501)

(116,326)

983,338

144,926

(1,803,667)

867,012

127,782

Net cash used in financing activities

(326,948)

(863,712)

(403,599)

(59,483)

(312,513)

(1,267,311)

(186,779)

Effect of foreign exchange rate changes on cash, cash
equivalents and restricted cash

2,436

(57,648)

(115,006)

(16,950)

(5,604)

(172,654)

(25,447)

Net (decrease)/increase in cash and cash equivalents
and restricted cash

(911,397)

(1,106,527)

401,506

59,174

(1,685,003)

(705,021)

(103,908)

Cash, cash equivalents and restricted cash at the
beginning of the period

4,870,753

5,545,012

4,438,485

654,152

5,644,359

5,545,012

817,234

Cash, cash equivalents and restricted cash at the end
of the period

3,959,356

4,438,485

4,839,991

713,326

3,959,356

4,839,991

713,326

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SOURCE RLX Technology Inc.

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54 minutes ago

August 14, 2026

SINGAPORE, Aug. 14, 2026 /PRNewswire/ — Lapakgaming, a leading gaming and entertainment top-up platform, has officially rebranded as Joytify in Malaysia. The rebrand introduces an upgraded user experience featuring faster transactions, enhanced security, and bigger rewards, marking a major milestone in the company’s mission to better serve modern gamers and digital entertainment fans.

Joytify has built a global presence and gained customer traction across markets including Singapore, Thailand, the United States, and other countries. Trusted by millions of Malaysians and numerous publishers, Joytify Malaysia’s rebranding marks the next stage of the platform’s growth, as it continues to strengthen its international presence while making digital gaming transactions more accessible and secure through new features and benefits.

Joytify’s #DijaminInstant Top-Up Guarantee delivers your in-game purchases within 5 minutes or you get a 90% discount voucher. Plus, enjoy a Money-Back Guarantee for undelivered items, and grab a 10% discount voucher (limited quota) on games & entertainment!

“As gaming becomes an integral part of daily life, our rebrand to Joytify in Malaysia reflects a clear mission: to make every top-up effortless and joyful. We’re setting a new benchmark for trust with our Instant Top-Up and Money-Back Guarantees, while delivering extra value to players through daily deals and exclusive rewards,” said Prasetya Setiawan, CEO of Joytify.

To expand its reach within Malaysia’s gaming and esports community, Joytify is partnering with the Mobile Legends: Bang Bang Professional League (MPL) Malaysia for Season 18. Joytify is launching the MPL Lucky Spin, giving users the chance to win exclusive rewards, including MLBB in-game Epic Skins, Weekly Diamond Passes, 2,000 Diamonds, and more.

Joytify will bring the experience throughout the Regular Season, taking place from 14 August to 18 October 2026 at the Quill City Mall Convention Centre, Kuala Lumpur. Fans can put their skills to the test in 1v1 matches and take part in the Joytify Lucky Spin, with prizes worth a total of RM30,000 up for grabs.

“Season 18 is shaping up to be one of our most exciting yet, and we’re pleased to welcome Joytify as a partner. Through effortless in-game transactions and stronger community connections, this collaboration gives fans more ways to engage with MPL Malaysia throughout the season. We are looking forward to creating even more memorable experiences for our community together,” said Krystal Tan, Head of Market (Esports) at MOONTON Games.

Visit www.joytify.com/en-my and get limited 10% discount with Code: LAPAKTOJOY.

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SOURCE Joytify

Technology

AXISCADES reports record Rs. 346.7 crore revenue from operations for Q1 FY27, including discontinued operations, up 42.2% YoY

Published

54 minutes ago

August 14, 2026

Defence and XiDA drive retained portfolio growth

BENGALURU, India, Aug. 14, 2026 /PRNewswire/ — AXISCADES Technologies Limited (BSE: 532395) (NSE: AXISCADES), a technology, engineering and manufacturing company focused on Aerospace, Defence, Space and XiDA/electronics and AI, today announced its consolidated results for the quarter ended 30 June 2026.

Q1 FY27 consolidated revenue from operations, comprising continuing and discontinued operations, stood at a quarterly record of Rs. 346.7 crore, increasing by 42.2% year on year and 27.0% sequentially.

During May and June 2026, the Company announced the divestment of its Engineering Services and Aerospace Services businesses, respectively, to the Akkodis Group. The divestment programme represents a minimum consideration of Rs. 1,685 crore and total consideration of approximately Rs. 2,256 crore—approximately USD 237 million. The transactions are progressing through the applicable closing conditions.

The Company presents continuing and discontinued operations separately, in line with the prescribed accounting standards. In accordance with Ind AS 105, the comparative periods have been restated on the same basis.

Revenue from operations from continuing operations was Rs. 183.4 crore. On a like-for-like basis excluding Add Solutions, which management intends to exit in FY27, revenue was approximately Rs. 181 crore, an increase of ~100% from approximately Rs. 90 crore in Q1 FY26.

Reported EBITDA was Rs. 27.9 crore, with an EBITDA margin of 8.1%, compared with Rs. 34.1 crore and 14.0%, respectively, in Q1 FY26. The Company reported a loss before tax of Rs. 11.9 crore and a loss after tax of Rs. 14.8 crore. Reported profitability included Rs. 11.56 crore of one-time receivable provisions, primarily relating to an aged defence transaction; a Rs. 3.50 crore hedge provision under discontinued operations; and Rs. 21.81 crore of divestment-related exceptional costs under discontinued operations.

Excluding the two provisions aggregating Rs. 15.06 crore, management-defined normalised EBITDA was Rs. 41.0 crore, up 20.5% year on year, with a margin of 12.4%. After also adjusting for the Rs. 21.81 crore exceptional charge, management-defined normalised profit before tax was Rs. 23.1 crore.

Q1 FY27 highlights

Record revenue from operations including discontinued operations: Rs. 346.7 crore, up 42.2% YoY and 27.0% QoQ.Continuing operations: Rs. 183.4 crore of reported revenue from operations; management-defined like-for-like revenue excluding Add Solutions increased ~100% YoY to approximately Rs. 181 crore.Defence: revenue more than doubled to Rs. 125.0 crore; updated Assured Forecast Visibility stood at Rs. 4,557 crore after Q1 execution.XiDA: revenue increased ~62% YoY to Rs. 49.5 crore; EBITDA rose 114.5% to Rs. 14.7 crore, with a 29.7% margin.Space: the Space division has been established as the Company’s fourth growth platform: a satellite manufacturing, assembly, integration and testing facility is under construction at the Devanahalli Atmanirbhar Complex, and technology-transfer collaborations are in progress.Manufacturing capacity: Property, plant and equipment together with capital work-in-progress increased by Rs. 40.1 crore, during Q1 FY27. Devanahalli AeroLand has been commissioned; Phase 1 of the Devanahalli Atmanirbhar Complex is under construction; land acquisition for the Missile Atmanirbhar Complex in Hyderabad has been completed and construction is commencing; and land allocation for the proposed 240,000 sq. ft. Center for Advanced Manufacturing at Devanahalli is in process.Add Solutions exit: Management is implementing an action plan and is targeting completion of the exit by Q4 FY27.Portfolio transition: The Engineering Services and Aerospace Services divestments, announced in May and June 2026, respectively, represent a minimum consideration of Rs. 1,685 crore and total consideration of approximately Rs. 2,256 crore—approximately USD 237 million. Closing is planned in two phases: Phase 1 by Q2 FY27, with approximately Rs. 180 crore of initial proceeds expected within five days, and Phase 2 by Q3 FY27, completing the approximately Rs. 2,256 crore divestment programme.

Management commentary

“Q1 FY27 marks the first quarter of AXISCADES’ transition into a focused manufacturing, products and solutions company built for non-linear growth. Revenue per employee is set to rise from Rs 42 lakh in FY26 to Rs 1.2 crore in FY27 — more than a threefold gain, and the clearest measure of the shift from a people-led services model to a products and manufacturing one.

The strength of the businesses we have chosen to scale is increasingly visible. Defence revenue more than doubled. XiDA added two of the world’s largest technology companies as customers. Aerospace Manufacturing is being rebuilt through organic scale-up and acquisition, and Space is now established as our fourth growth platform.

With the non-core divestment substantially complete, we are directing capital and management bandwidth towards Aerospace Manufacturing, Defence Systems, XiDA and Space, in line with our Power 930 roadmap.”

Dr. Sampath Ravinarayanan, Founder, Chairman & Managing Director

“The quarter combines strong revenue growth with the accounting impact of a major portfolio transition. Reported profitability includes Rs. 15.06 crore of one-time provisions and Rs. 21.81 crore of divestment-related exceptional costs. Excluding these items, management-defined normalised EBITDA was Rs. 41.0 crore at a 11.8% margin, and management-defined normalised PBT was Rs. 23.1 crore. Our immediate priorities are to complete the divestment, address the Add Solutions drag, scale the retained portfolio and deploy the proceeds into growth without equity dilution.”

Shashidhar SK, Group Chief Financial Officer

Rs. crore, except margins

Particulars

Q1 FY27

Q4 FY26

Q1 FY26

QoQ

YoY

Revenue from operations (continuing
and discontinued operations)

346.6

273.0

243.7

+27.0 %

+42.2 %

Reported EBITDA

27.9

33.6

34.1

(17.0) %

(18.1) %

Reported EBITDA margin

8.1 %

12.3 %

14.0 %

(426) bps

(592) bps

Normalised EBITDA

41.0

33.6

34.1

+22.1 %

+20.5 %

Normalised EBITDA margin

11.8 %

12.3 %

14.0 %

(47) bps

(214) bps

EBIT

15.8

19.8

24.7

(20.1) %

(35.9) %

Reported PBT / (loss)

(11.9)

10.5

28.0

n.m.

Normalised PBT

23.1

10.5

28.0

+119.6 %

(17.6) %

Reported PAT / (loss)

(14.8)

0.4

20.9

n.m.

n.m. = not meaningful because the comparison crosses between profit and loss. Reported amounts below are derived from the Company’s
unaudited consolidated financial results under Regulation 33. EBITDA is calculated as revenue from operations less operating expenses
other than finance costs and depreciation and amortisation, and excludes other income; EBIT is EBITDA less depreciation and
amortisation. Normalised measures are management-defined alternative performance measures.

Reported-to-normalised reconciliation

Measure

Reported

Receivable provision

Hedge provision

Deal-related exceptional costs

Normalised

EBITDA

27.9

9.62

3.50

–

41.0

PBT / (loss)

(11.9)

9.62

3.50

21.81

23.0

Normalised EBITDA and normalised PBT are management-defined alternative performance measures and are not measures defined under
Ind AS. Reported amounts are derived from the Company’s unaudited consolidated financial results under Regulation 33; management-
defined adjustments are sourced from the Q1 FY27 investor presentation. These measures are presented to explain identified one-time
and transaction-related items and should not be considered in isolation or as substitutes for reported results. Figures may not sum due to
rounding.

Business performance

Defence: revenue more than doubles; sole-source wins strengthen visibility

Defence revenue rose ~111% year on year and 86.1% sequentially to Rs. 125.0 crore. Management-defined underlying EBITDA, excluding Rs. 8.7 crore of one-time provisions, was Rs. 13.8 crore, representing a margin of 11.0% and year-on-year growth of 25.1%.

Since 1 April 2026, the business secured or advanced eight programmes, comprising four in-quarter programmes and four sole-source wins after the balance-sheet date. The post-balance-sheet programmes cover on-board computers for an anti-tank missile, a PCM encoder for a missile programme, antenna beam control for the Uttam radar and an Exciter Receiver Processor for a marine helicopter.

Assured Forecast Visibility (AFV) for FY27-FY30 increased by Rs. 332 crore from new design wins and reduced by Rs. 125 crore executed during Q1, moving from Rs. 4,350 crore at FY26 year-end to Rs. 4,557 crore. AFV is a management-defined operating measure comprising customer-communicated programme requirements where AXISCADES holds design-won and qualified sole-source or limited-source status; it is not an order book or guarantee of future revenue, and actual procurement remains subject to customer timelines.

XiDA: global customer additions reinforce electronics and AI platform

XiDA revenue increased 62.9% year on year and 30.3% sequentially to Rs. 49.5 crore. EBITDA increased 114.5% year on year to Rs. 14.7 crore, with a margin of 29.7%.

The new US business contributed Rs. 15.2 crore of revenue and Rs. 7.0 crore of EBITDA at a 46.2% margin in Q1. The arrangement brings two global tier-one customers: the world’s largest semiconductor equipment company and one of the world’s largest AI and hyperscale technology companies. Customers are described rather than named pending disclosure consent.

The acquisition is being progressed through a business transfer agreement rather than a share purchase. Operations and facilities are expected to transfer and customer contracts to migrate through novation. Completion is targeted in Q2 FY27, subject to the applicable conditions.

Aerospace Manufacturing: capability build precedes scale

The reconstituted Aerospace business reported revenue of Rs. 6.1 crore and an EBITDA loss of Rs. 5.4 crore, reflecting the cost of building leadership and capability ahead of acquisition-led and organic scale-up.

AXISCADES has in place a non-binding offer for an AS9100D-certified precision manufacturing company an indicative pro forma FY27 revenue of Rs. 180 crore and EBITDA of Rs. 39 crore, representing a 22% margin. The proposed transaction remains subject to definitive documentation, due diligence, applicable corporate approvals and regulatory clearances; all pro forma figures are indicative.

AXISCADES also plans a 240,000 sq. ft. Center for Advanced Manufacturing on a 20-acre campus at Devanahalli, approximately six kilometres from the Devanahalli Atmanirbhar Complex. The proposed quad-use facility is intended to support Aerospace, Defence, Space and Electronics. The land allocation process is under way.

Space: fourth growth platform established

AXISCADES has established its Space division and commenced construction of a satellite manufacturing, assembly, integration and test facility at the Devanahalli Atmanirbhar Complex. Technology-transfer collaborations are in progress, with formal details planned for the Bengaluru Space Expo and the World Space Business Week in Paris, in September 2026, subject to definitive agreements.

The Company has earmarked Rs. 300 crore from proposed divestment proceeds for the Space platform, comprising Rs. 120 crore for facilities and training and Rs. 180 crore across two planned joint ventures. This proposed deployment remains subject to completion of the divestment transactions, definitive agreements and applicable approvals.

Portfolio transformation and capital deployment

During May and June 2026, AXISCADES announced the divestment of its Engineering Services and Aerospace Services businesses, respectively, to the Akkodis Group. The divestment programme represents a minimum consideration of Rs. 1,685 crore and total consideration of approximately Rs. 2,256 crore – approximately USD 237 million. Shareholders approved both transactions on 27 July 2026, and the transactions are progressing through the applicable closing conditions.

Management is targeting completion of Phase 1 by 31 August 2026, with approximately Rs. 180 crore of initial proceeds expected within five days, and Phase 2 by 30 November 2026, completing the approximately Rs. 2,256 crore divestment programme. On completion, the Company expects to recognise a gain on disposal of approximately Rs. 1,255 crore, subject to closing adjustments, the applicable exchange rate and final accounting determination.

The proceeds are intended to fund the Company’s transition into Aerospace Manufacturing, Defence Systems, XiDA and Spacetech – including strategic acquisitions and manufacturing infrastructure – without equity dilution. Property, plant and equipment together with capital work-in-progress increased by Rs. 40.1 crore, or 29.5%, during Q1 FY27. Devanahalli AeroLand has been commissioned and is supporting aerospace and defence supply-chain and logistics requirements. Phase 1 of the Devanahalli Atmanirbhar Complex is under construction and is targeted to become operational during FY27; the facility also hosts the satellite manufacturing, assembly, integration and testing facility for the new Space division. At the Missile Atmanirbhar Complex in Hyderabad, land acquisition has been completed, the groundbreaking ceremony was held in July 2026 and construction is commencing. Land allocation is in process for the proposed Center for Advanced Manufacturing—a 240,000 sq. ft. quad-use facility planned on 20 acres at Devanahalli, approximately six kilometres from the Devanahalli Atmanirbhar Complex—which is intended to house future aerospace manufacturing acquisitions.

Note: The consideration values, anticipated proceeds, disposal gain and completion timelines are based on management’s current estimates and disclosures in the Q1 FY27 investor presentation. They remain subject to satisfaction of closing conditions, transaction adjustments, exchange-rate movements and final accounting determination.

Deferred Revenue Update

Management estimates that approximately Rs. 64 cr of the Rs. 142 crore of FY26 revenue deferred for supply-chain and operational reasons was recognised in Q1 FY27. Management expects to recognise the remaining amount across Q2 and Q3 FY27, subject to supply-chain availability, operational execution, customer acceptance and applicable revenue-recognition requirements. Management states that no related orders were cancelled and no customers were lost.

These targets and timelines are forward-looking, are subject to the risks and qualifications set out below, and do not constitute guarantees of future performance.

About AXISCADES Technologies Limited

AXISCADES Technologies Limited is a Bengaluru-headquartered technology, engineering and advanced manufacturing company serving global OEMs and customers across Aerospace, Defence, Space, and Electronics, Semiconductors and Artificial Intelligence. Its integrated capabilities span product design and engineering, embedded and electronic systems, precision manufacturing, testing, integration, and technology-led product and systems development. Combining deep domain expertise with expanding manufacturing and systems-integration capabilities, AXISCADES supports the development and delivery of complex, mission-critical programmes. The Company is listed on the National Stock Exchange of India Limited (NSE: AXISCADES) and BSE Limited (BSE: 532395).

Website: www.axiscades.com
CIN: L72200KA1990PLC084435

Safe harbour

Certain statements in this release constitute forward-looking statements within the meaning of applicable laws and regulations. These statements include, among others, expectations and targets relating to transaction completion and consideration, receipt of approvals, accounting outcomes, customer and employee transition, programme procurement and delivery, revenue recognition, recovery of deferred revenue, business transfers and acquisitions, capital deployment, manufacturing and facility scale-up, Space collaborations and joint ventures, revenue growth, margins, profitability, cash flows and the Company’s Power 930 strategic objectives. Forward-looking statements are based on current assumptions and involve risks, uncertainties and other factors that could cause actual outcomes to differ materially. AXISCADES Technologies Limited undertakes no obligation to publicly update any forward-looking statement except as required under applicable law.

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Technology

Weichai Power Invited to 2026 Green Design for Sustainable Development Forum in Geneva

Published

54 minutes ago

August 14, 2026

GENEVA, Aug. 14, 2026 /PRNewswire/ — On August 12 local time, the Green Design for Sustainable Development Forum, hosted by the World Green Design Organization (WGDO), was held at the Palais des Nations, Geneva, in Switzerland. Weichai Power was invited to deliver a keynote speech titled “Green Design for Sustainable Development,” highlighting its commitment and sense of responsibility as a Chinese advanced manufacturing company in practicing sustainable development to a global audience.

The WGDO is the world’s first non-profit international organization dedicated to promoting the development of global green design. It is officially certified by the European Union and holds special consultative status with the United Nations Economic and Social Council. This forum focused on core global issues such as green design, carbon peaking and carbon neutrality goals, and green technologies. It was attended by representatives from the UN, government agencies of various countries, international organizations, industry associations, universities, and multinational corporations.

At the forum, based on the concept of green design, Weichai Power systematically shared its diversified technology pathways for developing green products driven by green technologies. It also detailed its green energy transition routes, including thermal efficiency improvements, power density enhancements, alternative fuels applications, new energy solutions, and microgrids. By offering practical solutions, Weichai Power is helping achieve the goal of the “Green Design for 10 Billion Tons of Carbon Reduction” initiative led by the WGDO, which received high praise from the attendees.

For many years, Weichai has actively implemented the UN Sustainable Development Goals and the national carbon peaking and carbon neutrality goals, adhered to the core technological innovation philosophy of “green + technology,” and actively fulfilled its global environmental and social responsibilities.

In January 2026, at the 15th Annual Meeting and Brussels Summit of the World Green Design Organization, Weichai won multiple prestigious awards, including the Green Design International Award and the Green Design International Contribution Award, underscoring the Company’s industry leadership in global green design and sustainable development.

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