RLX Technology (RLX) co-founder reports major indirect share stakes

Rhea-AI Filing Summary

RLX Technology Inc. director and co-founder Wen Yilong filed an initial Form 3 disclosing significant indirect holdings of Class A ordinary shares. The filing shows 93,343,940 Class A shares held by StarryInv Holding Limited, a British Virgin Islands company connected to The UBGDX Family Trust for which Wen is settlor and a beneficiary.

The filing also lists share awards administered by BJ BJ Limited under the 2021 Plan, representing 11,973,466, 5,986,733 and 5,986,731 Class A ordinary shares underlying stock options. These options have a $0.15 exercise price with expirations on September 30, 2030 and exercise dates in 2023, 2024 and 2025, and are all reported as indirectly held.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Wen Yilong

(Last) (First) (Middle)

35/F, PEARL IFC, JIAN'AN

1 ROAD, BAO'AN DIST

(Street)

SHENZHEN, GUANGDONG 518100

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
RLX Technology Inc. [ RLX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-founder

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	93,343,940	I	Held by StarryInv Holding Limited(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	01/31/2023	09/30/2030	Class A ordinary shares	11,973,466	$0.15	I	Held by BJ BJ Limited(2)
Stock Option (right to buy)	01/31/2024	09/30/2030	Class A ordinary shares	5,986,733	$0.15	I	Held by BJ BJ Limited(2)
Stock Option (right to buy)	01/31/2025	09/30/2030	Class A ordinary shares	5,986,731	$0.15	I	Held by BJ BJ Limited(2)

Explanation of Responses:

1. Represents 93,343,940 Class A ordinary shares held by StarryInv Holding Limited, a British Virgin Islands company. Mr. Yilong Wen is the sole director of StarryInv Holding Limited. StarryInv Holding Limited is owned by Cititrust Private (Cayman) Limited as the trustee of The UBGDX Family Trust. Under the terms of The UBGDX Family Trust, Mr. Yilong Wen is the settlor of The UBGDX Family Trust. Mr. Yilong Wen and his family members are the trust's beneficiaries.

2. Represents 23,946,930 Class A ordinary shares underlying share awards held by BJ BJ Limited who is administering share incentive awards under the 2021 Plan.

	/s/ Yilong Wen	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Wen Yilong’s RLX (RLX) Form 3 filing disclose?

The Form 3 shows Wen Yilong’s indirect beneficial ownership in RLX Technology. It reports a large block of Class A ordinary shares held through StarryInv Holding Limited and additional stock options and share awards administered by BJ BJ Limited under the company’s 2021 equity incentive plan.

How many RLX Technology Class A shares are held via StarryInv Holding Limited?

The filing reports 93,343,940 Class A ordinary shares held by StarryInv Holding Limited. StarryInv is owned by a trust for which Wen Yilong is settlor and he and his family members are beneficiaries, giving him indirect beneficial ownership of this large share position.

What stock options linked to RLX (RLX) shares are reported in this Form 3?

The Form 3 lists three stock option positions over Class A ordinary shares with underlying amounts of 11,973,466, 5,986,733 and 5,986,731 shares. Each carries a $0.15 exercise price and an expiration date of September 30, 2030, with exercise dates in 2023, 2024 and 2025.

How are BJ BJ Limited and the 2021 Plan involved in RLX equity awards?

The filing explains that 23,946,930 Class A ordinary shares underlie share awards held by BJ BJ Limited. BJ BJ Limited administers share incentive awards under RLX Technology’s 2021 Plan, meaning these option-based awards are managed through this entity and reported as indirectly owned.

Is Wen Yilong’s ownership in RLX Technology direct or indirect?

All holdings disclosed in this Form 3 are reported as indirect. Class A shares are held through StarryInv Holding Limited, which is owned by a family trust, and the stock options and share awards are held by BJ BJ Limited, which administers awards under RLX Technology’s 2021 Plan.