This article only represents the author's own views.
RLX Technology Inc. (RLX.US), China’s leading maker of vaping devices, cartridges and liquids, is very much a company in transition.
That theme comes through repeatedly in its latest earnings report, which was headlined by a second consecutive revenue decline in the three months to June. Those declines look set to accelerate sharply in the last two quarters of this year, as China rolls out a new regulatory regime that includes new administrative measures that took effect in May and new national standards for the sector that will take effect Oct. 1.
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