RELX Technology

What RELX Technology does

RELX Technology (Shenzhen Wuxin Technology Co., Ltd., NYSE: RLX) is a China-based, single-brand e-vapor company founded in January 2018 by CEO Wang Ying (汪莹). It develops, designs, manufactures, and sells closed-system rechargeable RELX (悦刻) e-vapor devices and proprietary pod consumables, including the award-winning RELX Infinite (悦刻无限) line. Core technical capabilities span the full industry chain: a CNAS-certified RELX Lab, a Life Sciences Laboratory established September 2020, a dedicated Shenzhen factory in operation since August 2019, ISO9001-2015 certification (March 2020), and the Sunflower age-verification system deployed December 2019. Supporting infrastructure includes the RELX ME mobile app (Bluetooth device pairing, usage tracking, store locator) and smart vending machines with facial-recognition age verification.

The business model is hardware-driven: RELX sells closed-system devices plus recurring proprietary pod consumables through licensed tobacco retail stores in China and through direct international distribution channels. In China, distribution is gated to tobacco专卖零售许可证 holders under the 2022 national e-vapor standards. FY2025 net revenues were RMB 3,958.9 million (US$566.1 million), up 44.0% year-over-year, with international business representing 76.5% of Q4 2025 revenues. The company went public on the NYSE in January 2021, completed an international acquisition in May 2025, and has an active US$500 million ADS repurchase program (~$170 million remaining through December 2027). Headcount is 501–1,000 across offices in Shenzhen (HQ and factory), Shanghai (flagship retail), and international markets.

Name

RELX Technology

Legal name

深圳雾芯科技有限公司 (Shenzhen Wuxin Technology Co., Ltd.)

Website

https://relxtech.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

RELX Technology (NYSE: RLX) is a China-founded e-vapor company that designs, manufactures, and sells the RELX closed-system rechargeable device line and proprietary pods for adult consumers, distributed through licensed tobacco retail stores in China and direct international channels spanning 76.5% of Q4 2025 revenue.

Ownership category

akta.pro rank

Product category

E-vapor Hardware

NAICS

Beverage and Tobacco Product Manufacturing (312), Tobacco, Electronic Cigarette, and Other Smoking Supplies Retailers (459991)

SIC

Cigarettes (2111)

akta.pro primary industry

Electronic Nicotine Delivery Systems (ENDS/Vapes) Devices Manufacturing & Brands (CRADAJAF)

akta.pro secondary industries

E-liquids & Nicotine Salts Manufacturing & Brands (CRADAJAG), Dedicated Vape & E-Cigarette Shops (Specialty Retail) (CRANAEAA), Vape & E-Cig Accessories Retail (Mods, Pods, Coils, Batteries, Chargers) (CRANAEAG)

Keywords

• Closed-system e-vapor
• Rechargeable vaping devices
• Nicotine pod cartridges
• Vape hardware manufacturing
• Tobacco alternative products

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Marketing or Sales, Personnel, Technology or R&D

Revenue model

1. E-vapor Product Sales: RELX Technology generates revenue primarily from selling RELX brand closed-system rechargeable e-vapor devices and consumable pods/cartridges. Q4 2025 net revenues were RMB1,141.3 million (US$163.2 million) and full-year FY2025 net revenues rose 44.0% to RMB3,958.9 million (US$566.1 million). International business represented 76.5% of Q4 net revenues.
2. International E-vapor Business: Growing international expansion segment contributing the majority of revenues (76.5% of Q4 2025). Includes contributions from acquired entity acquired in May 2025.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

RELX Technology designs, manufactures, and sells closed-system rechargeable e-vapor devices and consumable flavor pods/cartridges under the RELX brand, marketed to adult smokers as alternatives to traditional cigarettes. The company also operates the RELX ME mobile application and a network of smart vending machines. Distribution is through licensed tobacco retail stores in China and through international channels, which contributed 76.5% of Q4 2025 revenues.

Product overview

RELX Technology (雾芯科技) is a China-based company founded in January 2018 that operates as a single-brand e-vapor product company. The company's core offering is the RELX悦刻 brand of closed-system rechargeable e-vapor products, including devices and pods (烟弹). The product portfolio spans hardware devices (with 悦刻无限 being a notable award-winning line), a mobile application (RELX ME) for device connectivity and usage tracking, and smart vending machines with facial recognition age verification. Supporting operations include an in-house research laboratory (悦刻实验室/RELX Lab) with CNAS certification, the 向阳花系统 age verification system, and the 守护者计划 minor protection initiative. Products are distributed through offline retail stores with tobacco sales licenses and smart vending machines.

Differentiator

Problem solved

Functional benefit

Products and services

• RELX悦刻 (RELX) Closed-System E-vapor Devices and Pods The flagship RELX-branded line of closed-system rechargeable e-vapor devices and consumable flavor pods/cartridges, manufactured in-house at the Shenzhen facility (operational since August 2019), marketed to adult smokers as an alternative to traditional cigarettes and sold through licensed tobacco retail stores in China and through international distribution channels.
• RELX ME Mobile Application The official RELX-branded mobile application that connects to RELX devices via Bluetooth and provides a store locator function to help users find nearby authorized retailers and products.
• RELX悦刻智能贩卖机 (RELX Smart Vending Machines) RELX-branded automated vending hardware equipped with facial recognition technology for age verification, used as an additional retail channel for RELX e-vapor products alongside licensed tobacco retail stores and flagship stores (first flagship store opened in Shanghai, January 2020).

Quantifiable outcome

• Q4 2025 net revenues increased 40.3% year-over-year to RMB1,141.3 million
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Imperial Brands: International tobacco company with combustible brands (Davidoff, Gauloises) and next-generation product lines (blu, Pulze, ZoneX). Comparable as a multi-category operator balancing legacy and reduced-risk products.
• Reynolds American / Vuse: Owns the Vuse closed-pod e-vapor brand and is a subsidiary of British American Tobacco. Directly comparable on closed-pod vape category and US distribution scale, while also offering a broader combustible/next-gen portfolio.
• Altria Group: US tobacco incumbent with combustible cigarette brands (Marlboro) and a stake in JUUL, plus investments in heated tobacco and oral nicotine. Comparable on regulatory exposure, category-defending incumbency, and capital-return discipline.
• Philip Morris International: Global tobacco incumbent leading the reduced-risk transition with IQOS heated tobacco and ZYN nicotine pouches. Comparable as a large-cap tobacco operator pivoting adult smokers toward non-combustible formats, the same end market RELX targets.
• British American Tobacco: Global tobacco incumbent owning Vuse, Velo (nicotine pouches), and glo heated tobacco. Comparable as a multi-category nicotine portfolio competing for the same adult smoker conversion opportunity.
• Japan Tobacco International: Global tobacco incumbent with heated-tobacco (Ploom) and reduced-risk products, particularly strong in Asia. Comparable as a geographically diversified incumbent investing in non-combustible categories.

Direct peers

• Smoore International: China-listed (HKEX: 06969) manufacturer of e-vapor devices and ceramic heating technology; supplies many global closed-pod brands. Most directly comparable to RELX as a Chinese-headquartered atomizer/device manufacturer serving the same closed-system category.
• JUUL Labs: US-based closed-pod e-vapor brand built around a single device-and-pod system. Comparable to RELX on closed-system format, adult-smoker target, and regulatory scrutiny around youth access and flavors.
• NJOY: US closed-pod e-vapor brand (NJOY ACE) that gained FDA marketing authorization for its menthol and tobacco-flavored products. Directly comparable on closed-system design, tobacco-flavor SKU mix, and PMTA-regulated go-to-market.

Emerging players

• Turning Point Brands: US specialty nicotine company offering vaping, oral nicotine (Zonnic), and other smokeless products. Comparable as a smaller, focused player competing for adult smoker conversion across multiple non-combustible formats.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/relxtech
• LinkedInlinkedin.com/company/relxtech

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RELX Technology