雾芯科技2026年第二季度业绩电话会议纪要

要点总结 1.会议基本信息 本次为 RLX Technology（雾芯科技）2026 年第二季度业绩电话会议，于 2026 年 8 月 15 日召开。会议提供中英文双语同传服务，中文线为同声传译模式，英文线为主要会议语言。会议开始前出现较长时间的技术故障与线路连接问题，多次重拨后接入。 2.财务业绩概况 第二季度净营收为人民币 48.68 亿元（约合 6.81 亿美元），同比增长 51.0%。净利润为人民币 20.36 亿元（约合 2.85 亿美元）。公司在本季度继续维持盈利增长态势，营收增速显著。 3.业务运营情况 公司业务覆盖国内与国际市场，运营范围包括 B2B 及 FMCG（快速消费品）渠道。国内业务在监管框架下持续运营，产品合规与许可证管理为当前运营重点。国际业务方面，公司在美国市场持续推进 PMTA（烟草产品上市前申请）相关合规工作，美国市场当前处于持续审核与合规推进阶段。 4.合规与监管进展 国内业务严格执行电子烟监管相关法规，持牌经营，产品符合国标要求。美国市场 PMTA 申请仍在推进中，公司持续配合监管机构要求，补充提交相关材料。公司整体合规体系持续完善，适应国内外监管环境变化。 5.市场与渠道 国内线下渠道保持稳定运营，门店体系持续优化。国际渠道方面，公司在美国等核心市场推进合规产品销售网络建设。公司持续关注新兴市场机会，但当前以合规为先，稳步拓展。 6.技术与产品 公司持续投入产品研发，推进新一代产品线布局。产品创新围绕减害方向展开，符合监管导向与消费者需求。 7.风险提示 国内外监管政策变化可能对公司业务产生影响。美国市场 PMTA 审批结果存在不确定性。行业竞争格局持续演变，公司需保持产品与渠道竞争力。 问答整理 Q1：公司第二季度营收增长的主要驱动因素是什么？ 答：第二季度净营收为人民币 48.68 亿元，同比增长 51.0%，主要得益于国内业务稳定运营以及国际业务持续拓展。公司持续优化产品结构与渠道布局，推动整体业绩增长。 Q2：美国市场 PMTA 的进展如何？对公司业务有何影响？ 答：公司在美国市场持续推进 PMTA 相关合规工作，目前仍处于审核过程中。公司积极配合监管要求，补充提交相关材料。美国市场的合规进展将直接影响公司在该市场的业务拓展节奏，公司对此保持审慎乐观态度。 Q3：国内监管政策对公司业务的影响如何？ 答：公司严格执行国内电子烟监管法规，持牌合规经营。当前国内业务在监管框架下保持稳定运营，公司持续完善合规体系，确保产品符合国家标准。监管政策的落地有助于行业长期健康发展，公司作为持牌企业将受益于行业规范化。 Q4：公司未来的增长战略是什么？ 答：公司将继续坚持合规为先的经营理念，在国内市场深耕渠道与产品创新，在国际市场稳步推进合规产品的市场拓展。同时，公司将持续投入研发，围绕减害方向推进产品迭代，以满足监管要求和消费者需求。 原文 雾芯科技 20260815_原文2026 年 08 月 15 日 发言人 Hello, lais NN jomon. 发言人 Thank you for standing b for RLX technologies six aris, come first call at this time. 发言人 Operator, are not this on line mode, other meats or mark what be a cation and in resection,this const call is been recoding and is sect to this for for for I have not to on the call over toyour host mr. 发言人 Susan has a time money for the please check lam, thank cin money hello h one welcome toother Chloe is or ching service unforced the come chenier and Operation reset release for thisother service day and have 没 on my you can out of the arnes prose for visited on I al ofservice and dialed doret com suspended day is call of the roof or this case one for final ofservice research and me thank thank how de before you thank you please know that excusefor come for look spent make on to sever tion the US。 发言人 For this reduction reformative six six please check on time and service new expiatory spinadmit in time time pert to other service exception before of inception is not in service and inservice service the extraction of this page is inaction of service and in service please it catorreales to connect the project or and spent. 发言人 你好，回去。 发言人 First the are be on of roof，the phone is invoice, and other service can not and checkOperation to at this ford of information exceed s request and the call now please know thatother n ge is arding service and this come call in excuse of aug chenet ers s out to not getcHennai service service. 发言人 Is conan recons the to more that measure to the other get is this call methone we is english atmean other problem time chinese interperting chinese line, please know that the china line isinsist on mode and chinese person is for convening service service in cof and describing cymembership in the oral ange reproval have not time the call of coming k one this go have 喂喂，thank you. Thank thank you are calling to call. 发言人 Thank thank you are calling to call. 发言人 Please liver sorry, the cochineal in not real n orbar comment ent to calls or vivan conran go gogo top one grade four time eight six zero in the concoer lab are excepted in service four fourinquest four five six eight zero zero two three four six six five eight mi M, B is exceed renew incalls for it modulated, not you to and other demand reaching the trade moment before thefirst orate chen two for dream five release expert peradventure other reduction commentmage moba power for orator or please talking time day clips to dial out leading to the seenthe Jason please hold of orter on the line the mal calls out kein service number the nest andagain please check please hold on to to it it chartering redial execution and out to my legalOperation in transfer. 发言人 The the refiners are that to stay the phone for other nearby spended profile service that andtring lord wlan the dialing of cut what doing and I dial conradt phaon the can so releaseservice and try that calling the number. 发言人 Release service across internecine, becoming more and more restricted st. 发言人 The service information that is to reset for ork. 发言人 The unit con is a case in time for release cover. 发言人 Can pgdn what hotel is? 发言人 Try again restricted laver scribes and lime on that store. 发言人 A inservice later welcome is relection the post the Opera cured to check the engine thisholding to host has spent number, can live number the moment and consistent for for threefor out now confide no connection and redial to enter for service conlin class action are besuspending service to meet the starry incoming telephone Operation perdita line ofsuspended hon Operation across the money the calls available left in meted momentcondition hold mode and the suspend to sta