RLX Technology's MSCI ESG Rating Upgraded to "AA", Achieving the Highest Rating in the Global Tobacco Industry
SHENZHEN, China, Dec. 30, 2024 /PRNewswire/ -- RLX Technology Inc. ("RLX Technology" or the "Company") (NYSE:RLX), a leading global branded e-vapor company, has recently achieved an "AA" rating in the MSCI ESG rating, upgraded from an "A" rating. RLX Technology has secured the top position in the global e-cigarette industry for three consecutive years and has achieved the highest MSCI ESG rating in the global tobacco industry.
MSCI ESG ratings aim to measure a company's management of financially relevant ESG risks and opportunities and rate over 8,500 companies every year. MSCI ESG ratings have become a key reference for international capital market participants. The "AA" rating is a significant recognition of RLX Technology's ESG governance structure, further solidifying its leadership position in the e-vapor sector. The Company is also expected to gain increasing opportunities for inclusion in various fund portfolios or gain larger asset allocations.
Ms. Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors, and Chief Executive Officer of RLX Technology, stated, "We understand that corporate success lies not only in operational profitability, but also in social and environmental responsibility. The Company has focused on optimizing its product portfolio, supply chains, and operations to enhance corporate value while positively impacting society and the environment."
According to MSCI, RLX ranks best-in-class for risk management capabilities in product safety, quality, and chemical safety. It also ranks among the top 1% globally in risk management for accounting, business ethics, and tax transparency. Regarding supply chain labor standards, all assessments have met MSCI's "Top" standards.
Since its inception, RLX Technology has integrated ESG in its corporate strategy to foster sustainable development. Following the implementation of national e-cigarettes standards and regulations in China, RLX Technology fully upgraded its R&D system, establishing eight laboratories and implementing stringent factory quality controls. This significantly enhanced product innovation capabilities and established a comprehensive product quality assurance system throughout the product lifecycle.
The RLX Technology quality and safety laboratory was recognized by CNAS (China National Accreditation Service For Conformity Assessment) in July 2023 and passed expansion and modification assessment in June 2024. Currently, RLX Technology has established a comprehensive testing platform that can provide reliability, electrical performance, inhalation testing, and battery safety testing services for the e-vapor industry, and issue authoritative reports for export products according to international standards.
Furthermore, the Company maintains strict internal standards, incorporating ESG criteria into its supplier selection process. RLX Technology annually conducts ESG assessments of its core suppliers, performing external audits based on the "RLX Business Partner Code of Conduct", SA8000 standards, and other ESG-related metrics.
RLX Technology has always regarded ESG as one of its core competitive edges. It established an ESG committee at the Board level and has published ESG reports for four consecutive years. TÜV Rheinland, a leading international verification agency, has independently verified the report in 2022 and 2023 according to the AA1000 Assurance Standard v3, ensuring the accuracy and credibility of the substantive issues addressed.
Looking ahead, RLX remains committed to steadfastly implementing its long-term ESG strategy, actively fulfilling its corporate social responsibilities, and continuously creating greater value for clients, shareholders, partners, employees, and society.
About RLX Technology Inc.
RLX Technology Inc. (NYSE:RLX) is a leading global branded e-vapor company. The Company leverages its strong in-house technology, product development capabilities and in-depth insights into adult smokers' needs to develop superior e-vapor products.
For more information, please visit: http://ir.relxtech.com.
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SOURCE RLX Technology Inc.