Maintaining RLX Technology At 'Strong Buy'

RLX Technology is rated a 'Strong Buy' due to robust international expansion and solid fundamentals. International sales now comprise 76.5% of RLX's Q4 revenue, with rapid market share gains in Asia Pacific and strategic moves in Europe. The company maintains a strong cash position ($1.19B), actively returns capital via dividends and buybacks, and extended its $170M repurchase authorization through 2027.