RLX Technology (RLX) Is Up 10.8% After Dividend Debut and Surging Global Revenues Has The Bull Case Changed?

RLX Technology Inc. recently announced strong third quarter results, reporting a significant year-over-year surge in revenue to ¥1.13 billion and approving a cash dividend of US$0.10 per share, with the payout scheduled for early February 2026 to both ordinary shareholders and ADS holders. The company’s international expansion now accounts for the majority of revenues, driven by new product launches and recovery in Mainland China, while management underscored its ongoing commitment to shareholder returns through both dividends and share repurchases. We'll explore how RLX's robust global growth and the introduction of a dividend may impact its long-term investment narrative. These 13 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch.RLX Technology Investment Narrative RecapTo be a shareholder in RLX Technology, one needs confidence in the company’s ability to sustain rapid international expansion and innovation, while adapting to shifting regulatory climates. The recent surge in revenue and the introduction of a significant cash dividend further support the company’s growth story, but do not fundamentally change the biggest catalyst, ongoing global formalization of e-vapor regulations, or the chief risk of regulatory shifts, particularly in China, which remains a material concern. The company’s Q3 earnings announcement stands out, as RLX posted a 49% year-over-year increase in net revenue and increased international contributions to over 70% of total sales. This strengthens the case for its long-term growth catalyst, gaining market share amid tightening global compliance, although international regulatory environments and operational integration remain key challenges for sustained success. However, despite strong financials, investors should be aware that… Read the full narrative on RLX Technology (it's free!)RLX Technology's narrative projects CN¥5.9 billion in revenue and CN¥1.1 billion in earnings by 2028. This requires 26.3% yearly revenue growth and a CN¥373 million earnings increase from CN¥726.8 million currently.Uncover how RLX Technology's forecasts yield a $3.04 fair value, a 18% upside to its current price.Exploring Other PerspectivesRLX Community Fair Values as at Nov 2025 Simply Wall St Community members estimated RLX’s fair value between US$3.04 and US$3.84 across 2 separate analyses. With international regulation tightening as a major business catalyst, your outlook may differ, consider exploring several viewpoints and analytics before reaching conclusions.Explore 2 other fair value estimates on RLX Technology - why the stock might be worth just $3.04!Build Your Own RLX Technology NarrativeDisagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.A great starting point for your RLX Technology research is our analysis highlighting 3 key rewards that could impact your investment decision.Our free RLX Technology research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate RLX Technology's overall financial health at a glance.Curious About Other Options?Opportunities like this don't last. These are today's most promising picks. Check them out now:Uncover the next big thing with financially sound penny stocks that balance risk and reward.We've found 16 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.Outshine the giants: these 25 early-stage AI stocks could fund your retirement. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.