RTTNews | Jun 2, 2021 11:21AM EDT

11:20 Wednesday, June 2, 2021 (RTTNews.com) - Shares of Chinese e-vapor products manufacturer RLX Technology Inc. (RLX) are down 9 percent on Wednesday's trading as the company reported net loss in the first quarter, despite higher revenues.

During the three-month period, net loss was RMB267.0 million or $40.8 million, compared to net income of RMB12.1 million in the first quarter a year ago.

On a per ADS basis, net loss was RMB0.174 or $0.027 in the first quarter, compared to net income of RMB0.008 in the same period last year.

On an adjusted basis, the company posted net income of RMB610.5 million or $93.2 million, up from RMB25.9 million a year ago. On a per ADS basis, adjusted income was RMB0.398 or $0.061, compared to RMB0.018 in the prior-year period.

Quarterly revenues rose to RMB2.39 billion or $366.1 million from RMB368.6 million last year.

RLX, now trading at $10.81 on the NYSE, has traded between $7.89 and $35.00 in the 52-weeks range.

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