Technology
WRAP Retail Offer and Capital Access Window
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1 day agoon
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (“FSMA”) AND HAS BEEN APPROVED BY MAREX FINANCIAL WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FCA registration number 442767).
Shaires Holdings Ltd
(“Shaires Holdings” or the “Company”)
LONDON, Aug. 13, 2026 /PRNewswire/ — Shaires Holdings Ltd (AIM: SHR), the publicly quoted London investment company providing investors with exposure to leading private mid-and late-stage global technology and AI companies, is pleased to announce a retail offer via the Winterflood Retail Access Platform (“WRAP”) (the “WRAP Retail Offer”) through the issue of new Ordinary Shares in the capital of the Company (“Ordinary Shares”). Under the WRAP Retail Offer new Ordinary Shares (the “WRAP Retail Offer Shares”) will be made available at a price of $20.00 per share (the “WRAP Retail Offering Price”). This is the same price as the recently concluded US$28.5 million institutional placing which was announced on 30 July 2026. The WRAP Retail Offering Price represents a discount of approximately 18 per cent to the mid-market closing price of an Ordinary Share of $24.50 on 12 August 2026 (being the latest practicable date prior to this announcement). The Retail Offer is expected to close at 4.30 pm on 18 August 2026.
Following the updates to the AIM Rules for Companies announced earlier this month, the Company has decided to utilise a Capital Access Window. This is a voluntary pause to the trading of a Company’s shares to make it easier for companies to reach a broader range of investors, including retail investors, during a fundraise. From 7:30 am today, the Company’s shares will enter a Capital Access Window until a further announcement is made detailing the close of the WRAP Retail Offer.
A separate announcement has been made today regarding the establishment of the initial portfolio of the Company. The proceeds of the WRAP Retail Offer will be utilised to make further investments in accordance with the Company’s Investing Policy and for general corporate purposes.
An overview video of the Company by CEO Vivek Seth is available on-demand at: https://shaires-holdings.com/?preview=cav81dllxremeq.
The WRAP Retail Offer is conditional on the New Ordinary Shares being admitted to trading on AIM (“Admission”). It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 am on 21 August 2026.
Portfolio
Initial portfolio established with binding agreements in place. These agreements are subject to customary closing conditions, providing exposure to Anthropic, Stripe, ByteDance, Moonshot AI, Figure AI, SandboxAQ and Colossal Biosciences, with an aggregate value of up to US$86.7 million.
Portfolio Company
Investment Type
Investment Amount¹
Anthropic
Binding option agreement
Up to $16.2m
ByteDance
Cash investment
$15.0m
SandboxAQ
In-kind contribution
$14.8m
Figure AI
Binding option agreement
Up to $14.5m
Colossal Biosciences
In-kind contribution
$12.0m
Stripe
Binding option agreement
Up to $9.2m
Moonshot AI
Cash investment
$5.0m
Total
Up to $86.7m
1 For more details, refer to the Company’s separate transaction announcements; subject to completion
Capital Access Window
Following the updates to the AIM Rules for Companies announced earlier this month, the Company has decided to utilise a Capital Access Window. This is a voluntary pause to the trading of a Company’s shares to make it easier for companies to reach a broader range of investors, including retail investors, during a fundraise. From 07:30am today, the Company’s shares will enter a Capital Access Window until a further announcement is made detailing the close of the WRAP Retail Offer.
WRAP Retail Offer
The Company values its retail shareholder base and believes that it is appropriate to provide both new and existing retail shareholders in the United Kingdom the opportunity to participate in the WRAP Retail Offer.
Therefore, the Company is making the WRAP Retail Offer open to eligible investors in the United Kingdom, being new or existing shareholders of Shaires Holdings, following release of this announcement and through certain financial intermediaries
A number of retail platforms, including Hargreaves Lansdown and AJ Bell, are able to access the WRAP Retail Offer. Non-holders or existing shareholders wishing to subscribe for Retail Offer Shares should contact their broker or wealth manager who will confirm if they are participating in the Retail Offer.
Retail brokers wishing to participate in the Retail Offer on behalf of eligible retail investors, should contact WRAP@marex.com.
The Retail Offer is expected to close at 4.30 pm on 18 August 2026. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the Retail Offer is expected to be announced by the Company on or around 19 August 2026.
To be eligible to participate in the Retail Offer, applicants must be a customer of a participating intermediary including individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations in the UK.
There is a minimum subscription of US$100, or GBP equivalent per investor under the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
The Company’s shares are quoted on AIM in USD. Certain financial intermediaries however may allow orders in the WRAP Retail Offer in GBP. Please note a foreign exchange transaction will be conducted for the purpose of GBP orders, and the final FX rate will be disclosed in the Retail Offer Results Announcement.
The Company reserves the right to amend the size and timings of the retail offer at its discretion. The Company reserves the right to scale back any order and to reject any application for subscription under the WRAP Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for Retail Offer Shares has been made and accepted via an intermediary, it cannot be withdrawn.
The Retail Offer Shares will, when issued, be credited as fully paid, and have the right to receive all dividends and other distributions declared, made or paid after their date of issue.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Ordinary Shares and investment in the Company carries a number of risks, including the risk that investors may lose their entire investment. Investors should take independent advice from a person experienced in advising on investment in securities such as the Ordinary Shares if they are in any doubt. Investors should note that there are various FX risks in placing an order in GBP.
An investment in the Company will place capital at risk. The value of investments, and any income, can go down as well as up, so investors could get back less than the amount invested.
Neither past performance nor any forecasts should be considered a reliable indicator of future results.
The Retail Offer is offered in the United Kingdom under an exception from prohibitions on offers to the public pursuant to Schedule 1 (Part 1) of The Public Offers and Admission to Trading Regulations 2024 and under an exemption from the requirement to publish a prospectus under the FCA’s Prospectus Rules: Admission to Trading on a Regulated Market sourcebook. The Retail Offer is not being made into any jurisdiction other than the United Kingdom.
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the WRAP Retail Offer, and investors’ commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and UK MAR.
Investor Meet Company webinar
CEO Vivek Seth will provide a company presentation via Investor Meet Company on Friday 14 August 2026 at 14:00 BST.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 09:00 BST on Friday 14 August 2026, or at any time during the presentation.
Investors can sign up to Investor Meet Company for free and add to meet SHAIRES HOLDINGS LTD via: https://www.investormeetcompany.com/shaires-holdings-ltd-1/register-investor.
Investors who already follow SHAIRES HOLDINGS LTD on the Investor Meet Company platform will automatically be invited.
Enquiries
Shaires Holdings Ltd
Via Tavistock
Zeus – Nominated Adviser & Broker
James Joyce, Andrew de Andrade
+44 (0) 20 3829 5000
Winterflood Retail Access Platform
Sophia Bechev, Kaitlan Billings
+44(0) 20 70710488
Tavistock – Financial PR
Jos Simson, Kuba Stawiski, Henry Kirby
shaires@tavistock.co.uk
+44 (0) 20 7920 3150
About Shaires Holdings Ltd
Shaires Holdings Ltd (AIM: SHR) is a publicly quoted London investment company that provides public market investors with concentrated exposure to leading private mid- and late-stage technology companies, with a particular focus on artificial intelligence. The Company is internally managed and charges no management or performance fees.
In addition to cash investments, the Company may acquire positions through in-kind (in specie) contributions, whereby employees and early shareholders of private technology companies may exchange eligible holdings for new ordinary shares in the Company, therefore providing them liquidity and diversification. Through this mechanism, public-market investors gain access to an asset class historically closed to them.
With an emerging megatrend of large frontier AI companies vertically integrating their business throughout the value chain from modelling through to chips and services, the Shaires board and management believe that they have the right methodology and strategy to provide capital to the best next-generation businesses.
Further information is available at www.shaires-holdings.com
The Company’s LEI is 2138005R4IVX4O3IQ543
This announcement should be read in its entirety. In particular, the information in the “Important Notices” section of the announcement should be read and understood.
Important Notices
This announcement, which has been prepared by and is the sole responsibility of the Company has been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 (“FSMA”) by Marex Financial (“MF”), which is authorised and regulated by the Financial Conduct Authority.
The release, publication or distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia (the “United States” or “US”)), Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the EEA or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction. This announcement does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for Ordinary Shares in any such jurisdiction.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
WRAP is a proprietary technology platform owned and operated by MF. MF is incorporated under the laws of England and Wales (company no. 5613061, LEI no. 5493003EETVWYSIJ5A20 and VAT registration no. GB 872 8106 13) and is authorised and regulated by the Financial Conduct Authority (FCA registration number 442767). MF’s registered address is at 155 Bishopsgate, London, EC2M 3TQMF is acting exclusively for the Company and for no-one else and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Retail Offer and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in connection with the Retail Offer, Admission and the other arrangements referred to in this announcement.
The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. When you sell your investment, you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.
Certain statements in this announcement may constitute forward-looking statements which are based on the Company’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as “aim”, “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company’s businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements speak only as at the date of this announcement and cannot be relied upon as a guide to future performance. The Company and MF expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the FCA, the London Stock Exchange or applicable law.
The information in this announcement is for background purposes only and does not purport to be full or complete. Neither MF nor any of its affiliates, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. MF and its affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise be found to have in respect of this announcement or its contents or otherwise arising in connection therewith.
Any indication in this announcement of the price at which the Ordinary Share have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings or target dividend per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings or dividends per share of the Company.
Neither the content of the Company’s website (or any other website) nor the content of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into or forms part of this announcement. The Ordinary Shares to be issued or sold pursuant to the Retail Offer will not be admitted to trading on any stock exchange other than the London Stock Exchange.
Zeus Capital, which is authorised and regulated by the FCA in the United Kingdom, is acting Nominated Adviser to the Company in connection with the Retail Offer. Zeus Capital has not authorised the contents of, or any part of, this announcement, and no liability whatsoever is accepted by Zeus Capital for the accuracy of any information or opinions contained in this announcement or for the omission of any material information. The responsibilities of Zeus Capital as the Company’s Nominated Adviser under the Market Rules for Companies and the Market Rules for Nominated Advisers are owed solely to London Stock Exchange plc and are not owed to the Company or to any director or shareholder of the Company or any other person, in respect of its decision to acquire shares in the capital of the Company in reliance on any part of this announcement, or otherwise.
UK Product Governance Requirements
Solely for the purposes of the product governance requirements of Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the “UK MiFIR Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the UK MiFIR Product Governance Requirements) may otherwise have with respect thereto, the Retail Offer Shares have been subject to a product approval process, which has determined that the Retail Offer Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in paragraphs 3.5 and 3.6 of COBS; and (ii) eligible for distribution through all permitted distribution channels (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Retail Offer Shares may decline and investors could lose all or part of their investment; the Retail Offer Shares offer no guaranteed income and no capital protection; and an investment in the Retail Offer Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the Retail Offer.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of Chapters 9A or 10A respectively of COBS; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Retail Offer Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the Retail Offer Shares and determining appropriate distribution channels.
View original content:https://www.prnewswire.co.uk/news-releases/wrap-retail-offer-and-capital-access-window-302850537.html
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RLX Technology Announces Unaudited Second Quarter 2026 Financial Results
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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.
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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,
June 30,
2025
2026
2026
RMB
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
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,
June 30,
June 30,
June 30,
June 30,
2025
2026
2026
2026
2025
2026
2026
RMB
RMB
RMB
US$
RMB
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
35
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
1,226,191,545
1,224,005,302
1,229,302,934
1,229,302,934
Diluted
1,309,486,924
1,313,480,246
1,307,483,883
1,307,483,883
1,309,617,920
1,311,101,429
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,
June 30,
June 30,
June 30,
June 30,
2025
2026
2026
2026
2025
2026
2026
RMB
RMB
RMB
US$
RMB
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
67
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
1,226,191,545
1,224,005,302
1,229,302,934
1,229,302,934
– Diluted
1,309,486,924
1,313,480,246
1,307,483,883
1,307,483,883
1,309,617,920
1,311,101,429
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,
June 30,
June 30,
June 30,
June 30,
2025
2026
2026
2026
2025
2026
2026
RMB
RMB
RMB
US$
RMB
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
View original content:https://www.prnewswire.com/news-releases/rlx-technology-announces-unaudited-second-quarter-2026-financial-results-302851705.html
SOURCE RLX Technology Inc.
Technology
MiniMax to Report 2026 Interim Financial Results on August 26, 2026
Published
37 minutes agoon
August 14, 2026By
HONG KONG, Aug. 14, 2026 /PRNewswire/ — MiniMax Group Inc. (“MiniMax” or the “Company”; HKEX: 00100), a leading global artificial intelligence company, today announced that it will report its interim financial results for the six months ended June 30, 2026, after the Hong Kong market closes on Wednesday, August 26, 2026.
The Company’s management will host a conference call on Wednesday, August 26, 2026, at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time) to discuss the results.
Participants are required to pre-register for the conference call. Please register for the Chinese line to participate in the Q&A session; the English simultaneous interpretation line will be in listen-only mode.
Chinese Line (Mandarin):
https://s.comein.cn/m2dt2u6b
English Simultaneous Interpretation Line (listen-only mode):
https://s.comein.cn/g3uj92rq
Alternatively, participants may dial into the Chinese conference call via the following dial-in details:
Dial-in Numbers for Mainland China:
Mainland China:
+86 4001510269
Global:
+86 01021377168
Dial-in Numbers for Outside Mainland China:
Hong Kong, China:
+852 51089680
Taiwan, China:
+886 277083288
United States:
+1 2087016888
Global:
+86 1021377168
Meeting password:
691793
About MiniMax
MiniMax is a leading global artificial intelligence company with a mission of “Intelligence with Everyone.” The company is committed to advancing the frontiers of AI and building toward artificial general intelligence (AGI). MiniMax develops its own general-purpose foundation models across text and multimodal intelligence, and brings these capabilities to users worldwide through AI-native products and an Open Platform for enterprises and developers. Today, MiniMax’s models and AI products serve more than 300 million users across over 200 countries and regions, as well as more than one million enterprises and developers across over 100 countries. For more information, please visit https://ir.minimaxi.com/en.
For investor and media inquiries, please contact:
MiniMax
Investor Relations
Email: ir@minimax.io
Media Relations
Email: pr@minimax.io
Piacente Financial Communications
E-mail: Minimax@thepiacentegroup.com
View original content:https://www.prnewswire.com/apac/news-releases/minimax-to-report-2026-interim-financial-results-on-august-26-2026-302851744.html
SOURCE MiniMax Group Inc.
Vantage Highlights Automation and Digital Finance Trends at Wealth Expo Dominican Republic 2026
RLX Technology Announces Unaudited Second Quarter 2026 Financial Results
MiniMax to Report 2026 Interim Financial Results on August 26, 2026
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