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United States securities and exchange commission logo





                              November 20, 2020

       Sean Di
       General Counsel
       RLX Technology Inc.
       5/F, Block B, Baifu International Building
       Chaoyang District, Beijing 100027
       People's Republic of China

                                                        Re: RLX Technology Inc.
                                                            Draft Registration
Statement on Form F-1
                                                            Submitted October
26, 2020
                                                            CIK No. 0001828365

       Dear Mr. Di:

              We have reviewed your draft registration statement and have the
following comments. In
       some of our comments, we may ask you to provide us with information so
we may better
       understand your disclosure.

              Please respond to this letter by providing the requested
information and either submitting
       an amended draft registration statement or publicly filing your
registration statement on
       EDGAR. If you do not believe our comments apply to your facts and
circumstances or do not
       believe an amendment is appropriate, please tell us why in your
response.

             After reviewing the information you provide in response to these
comments and your
       amended draft registration statement or filed registration statement, we
may have additional
       comments.

       Draft Registration Statement Submitted October 26, 2020

       General

   1.                                                   Please supplementally
provide us with copies of all written communications, as defined in
                                                        Rule 405 under the
Securities Act, that you, or anyone authorized to do so on your behalf,
                                                        present to potential
investors in reliance on Section 5(d) of the Securities Act, whether or
                                                        not they retain copies
of the communications. Please contact the staff member associated
                                                        with the review of this
filing to discuss how to submit the materials, if any, to us for our
                                                        review.
 Sean Di
FirstName LastNameSean   Di
RLX Technology   Inc.
Comapany 20,
November  NameRLX
              2020 Technology Inc.
November
Page 2    20, 2020 Page 2
FirstName LastName
Prospectus Summary
Corporate History and Structure, page 3

2.       Please add Relx Inc. to the structure chart on page 4.
Conventions that Apply to this Prospectus, page 7

3.       We note that in your definition of the Restructuring on page 8, you
disclose an expected
         issuance of additional ordinary shares to Relx Inc. to settle a
certain amount of capital
         support provided to you by Relx Inc. in the form of advances. Please
revise your
         disclosure to provide more information regarding this share issuance.
Indicate to what
         extent this would dilute ownership and/or value of the ADSs after the
completion of the
         offering.
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Results of Operations, page 87

4.       We note your disclosures regarding the factors for which fluctuations
in income
         statement line items are attributed. In light of the significant
period to period fluctuations,
         please discuss and quantify the underlying reasons for the change. For
example, with
         respect to the changes sales to offline distributors, you should
describe and quantify to the
         extent possible the underlying drivers or metrics associated with the
expansion of your
         distribution and retail network and any associated trends or
uncertainties (e.g., volume and
         average sales price). Please refer to SEC Release Nos. 33-6835 and
33-8350.
5.       Furthermore, we note your disclosure that cost of revenues increased
largely in line with
         the increase in your net revenues. Given the significance of such
costs to your results of
         operations for each period presented as well as the size of your
operations, please revise
         and expand your MD&A to separately quantify and discuss factors
responsible for
         changes in the levels of the company   s cost of revenues. Please note
that even when total
         amounts of costs of revenues or operating costs do not materially vary
from period to
         period, the impacts of material variances in components of cost of
revenues or operating
         costs that offset each other should be separately disclosed,
quantified, and discussed (not
         netted). This disclosure should be presented in a manner so as to
allow investors to discern
         the relative contribution of each of multiple components cited to the
total change in cost of
         revenues and resultant gross profit.
Capital Expenditures, page 93

6.       We note that you will continue to incur capital expenditures to meet
the needs of your
         business. To the extent you have any material commitments for capital
expenditures,
         please disclose them pursuant to Part I. Item 5.B of Form 20-F.
 Sean Di
FirstName LastNameSean   Di
RLX Technology   Inc.
Comapany 20,
November  NameRLX
              2020 Technology Inc.
November
Page 3    20, 2020 Page 3
FirstName LastName
Critical Accounting Policies, page 94

7.       We note your section on critical accounting policies. It appears that
the items included are
         a mere repetition of your Significant Accounting Policies section in
the notes to your
         financial statements. Pursuant to FR-60, this MD&A section is intended
to focus on the
         sensitivity aspects of your critical accounting policies, that is, the
likelihood that
         materially different amounts would be reported under different
conditions or assumptions.
         In making disclosures under FR-60, registrants need not repeat
information that is already
         included in the financial statements or other sections of the filing.
An example of
         additional information to address in critical accounting policies
would be your basis for
         estimates for returns and subsidies and whether such estimates have
varied form period to
         period, or any other data that might impact assumptions in order for
an investor to better
         understand the company's basis for accounting for judgmental areas.
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Quantitative and Qualitative Disclosures about Market Risk, page 99

8.       Please revise your disclosure to use one of the suggested formats
outlined in Part I, Item
         11 of Form 20-F.
9.       Additionally, we note from your concentration disclosure that one
manufacturer
         accounting for 72% of your total purchase amount. Further, on page
F-29 you disclose
         that revenue from one offline distributor was greater than 10% of net
revenue for your
         fiscal 2018 period. Please revise to disclose the name and percentage
of any customer
         who accounts for ten percent or more of your revenues for the periods
presented in your
         registration statement. Refer to Part I, Item 4.B.6 of Form 20-F and
Item 101(c)(1)(vii) of
         Regulation S-K.
Business
Overview, page 106

10.      Please revise your disclosure to clarify whether your products are
sold in countries other
         than China. Please consider including regulatory disclosures related
to selling your
         products in other countries.
Supply Chain Management, page 115

11.      We note your disclosure that you have entered into supply agreements
with certain third-
         party manufacturers. We also note that one manufacturer accounted for
72% of your total
         purchase amount for the year ended December 31, 2019. Please file your
agreement with
         this manufacturer as an exhibit or tell us why you are not required to
do so. Refer to Item
         601 of Regulation S-K.
 Sean Di
FirstName LastNameSean   Di
RLX Technology   Inc.
Comapany 20,
November  NameRLX
              2020 Technology Inc.
November
Page 4    20, 2020 Page 4
FirstName LastName
Principal Shareholders, page 147

12.      Please add Relx Inc. to the table. In addition, please tell us why you
have not included the
         share ownership of Long Jiang and Yilong Wen in the total amounts for
All Directors and
         Executive Officers as a Group.
Description of Share Capital
Our Post-Offering Memorandum and Articles of Association
Exclusive Forum, page 154

13.      We note your disclosure that the United States District Court for the
Southern District of
         New York shall be the exclusive forum within the United States for the
resolution of any
         complaint asserting a cause of action arising out of or relating in
any way to the federal
         securities laws of the United States. We note also your disclosure on
page 170 that the
         United States District Court for the Southern District of New York
(or, if the United States
         District Court for the Southern District of New York lacks subject
matter jurisdiction over
         a particular dispute, state courts in New York County, New York) shall
have exclusive
         jurisdiction to hear and determine any dispute arising from or
relating in any way to the
         deposit agreement. Please revise your disclosure to clearly describe
any risks or other
         impacts these provisions may have on investors and please address
whether there is any
         question as to whether a court would enforce the provisions.
Significant Accounting Policies
ac) Segment reporting, page F-28

14.      We note that the Group's chief operating decision maker has been
identified as its Chief
         Executive Officer, who reviews consolidated results of the Group when
making decisions
         about allocating resources and assessing performance. The Group has
internal reporting
         of revenue, cost and expenses by nature as a whole. Hence, the Group
has only one
         operating and reportable segment. Please tell us and clarify in your
disclosure what "by
         nature as a whole" means. In your response, describe the most detailed
level
         of information provided to the CODM and board of directors and the
level of information
         used for budgets and compensation of individuals reporting to the
CODM.
 Sean Di
FirstName LastNameSean   Di
RLX Technology   Inc.
Comapany 20,
November  NameRLX
              2020 Technology Inc.
November
Page 5    20, 2020 Page 5
FirstName LastName
Notes to the Consolidated Financial Statements
Note 16. Share-based compensation, page F-40

15.      You disclose that awards granted under the Parent Incentive Plan are
subject to a service
         condition and performance condition and the grant date is considered
to be the "date the
         performance results [are] communicated." Revise to disclose whether
this represents
         when the performance target is defined and communicated to the
employee or when the
         performance target is expected to be met. Refer to ASC 718-10-55-80 to
83 and 92 to 95.
         In addition, revise to disclose the nature of your performance
conditions, including if the
         performance condition is established at inception of the award
arrangement or at a later
         date, pursuant to ASC 718-10-50-1(a) and 2(a)(1).
        You may contact Effie Simpson at 202-551-3346 or Melissa Raminpour at
202-551-3379
if you have questions regarding comments on the financial statements and
related
matters. Please contact Erin Purnell at 202-551-3454 or Asia Timmons-Pierce at
202-551-3754
with any other questions.



                                                              Sincerely,

                                                              Division of
Corporation Finance
                                                              Office of
Manufacturing
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