The Complaint alleges that the registration statement and prospectus misstated and/or omitted facts concerning the Company’s then-existing exposure to China’s ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX’s reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results, and that as a result, investors purchased RLX shares at artificially inflated prices.