Core Viewpoint - ATRenew Inc. plans to release its unaudited financial results for Q3 2024 on November 20, 2024, before the U.S. market opens [1]. Company Overview - ATRenew Inc. is a leading technology-driven platform for pre-owned consumer electronics transactions and services in China, headquartered in Shanghai [4]. - The company has been operational since 2011, focusing on recycling and trade-in services to address the environmental impact of pre-owned electronics [4]. - ATRenew integrates C2B, B2B, and B2C capabilities, providing end-to-end coverage of the value chain with proprietary inspection, grading, and pricing technologies [4]. - The company is a participant in the United Nations Global Compact, adhering to responsible business principles [4]. Earnings Conference Call - The management will hold an earnings conference call on November 20, 2024, at 07:00 A.M. Eastern Time to discuss the financial results [2]. - Listeners can access the call through various toll-free numbers, including 1-888-317-6003 for the United States [2]. - A live and archived webcast will be available on the company's investor relations website [3].

Investment Rating - The report suggests a positive investment outlook for the company, recommending active attention due to its leading position in the second-hand 3C trading market and favorable growth prospects [2][3]. Core Insights - The company, Wanwu Xinxing (RERE), has established itself as a leader in the second-hand 3C product trading sector in China, benefiting from supportive government policies and increasing consumer acceptance of second-hand transactions [2][6]. - The company's revenue has shown robust growth, with a CAGR of approximately 48.8% from 2019 to 2023, and a 27.3% year-on-year increase in the first half of 2024 [2][13]. - Wanwu Xinxing has a strong cash position, with a total of 2.769 billion CNY in cash and equivalents as of the first half of 2024, enabling share buyback programs to enhance shareholder returns [2][16]. Company Overview - Wanwu Xinxing, founded in 2011, has evolved into a comprehensive platform for second-hand 3C products, offering services across various categories including electronics, luxury goods, and more [2][6]. - The company operates a multi-brand strategy with platforms like "Aihuishou," "Paimitang," and "Paipai," facilitating a full-chain transaction model from collection to sales [2][8]. - As of the first half of 2024, the company has expanded to 1,516 offline stores across over 260 cities in China, enhancing consumer trust and transaction volume [2][6]. Financial Analysis - From 2019 to 2023, the company's revenue increased from 3.932 billion CNY to 12.966 billion CNY, with a significant reduction in net losses, achieving a Non-GAAP net profit of 101 million CNY in the first half of 2024 [13][16]. - The adjusted operating profit margin has been on the rise, reaching 2.3% in the first half of 2024, indicating improved profitability [2][16]. Industry Overview - The second-hand consumer market in China is experiencing significant growth, driven by longer replacement cycles for consumer electronics and increasing acceptance of second-hand products [20][21]. - The market for second-hand consumer electronics is projected to grow from 143.8 billion CNY in 2018 to 425.4 billion CNY in 2022, with a CAGR of 31.1% [24][26]. - Government policies promoting recycling and second-hand transactions are expected to further support market expansion [26][27].

SHANGHAI, Aug. 29, 2024 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the "Company") (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced its latest Environmental, Social and Governance (ESG) scores as assessed by S&P Global's Corporate Sustainability Assessment ("CSA") released on August 23, 2024. ATRenew achieved a notable improvement with an S&P Global ESG Score of 35 in 2024, up from 33 in the previous year. This places the Co ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has shown strong revenue growth, with Q2 2024 total revenue reaching 3.78 billion RMB, a year-on-year increase of 27.4% [3][4] - Non-GAAP operating profit for Q2 2024 was 94.07 million RMB, up 81.0% year-on-year, marking the eighth consecutive quarter of positive Non-GAAP operating profit [3][4] - The company expects Q3 2024 revenue to be between 3.97 billion and 4.07 billion RMB, representing a year-on-year growth of 21.9% to 25.0% [3] Revenue Breakdown - In Q2 2024, the company's 1P product revenue was 3.40 billion RMB, a 29.0% increase year-on-year, driven by growth in second-hand electronic product sales [4] - 3P service revenue reached 370 million RMB, a 14.6% increase year-on-year, attributed to the growth of services like "拍机堂" and multi-category business services [4] Financial Performance - The company's gross margin for Q2 2024 was 20.8%, a decrease of 0.7 percentage points from the same period last year [3] - Non-GAAP net profit for Q2 2024 was 80.49 million RMB, up 121.2% year-on-year, with a Non-GAAP net profit margin of 2.1%, an increase of 0.9 percentage points year-on-year [3][4] Future Projections - The company forecasts revenues of 16.4 billion, 20.5 billion, and 24.8 billion RMB for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 27%, 24%, and 21% [5][6] - Non-GAAP net profits are projected to be 400 million, 610 million, and 850 million RMB for the same years, with growth rates of 76%, 55%, and 38% respectively [5][6]

sturtiATRenew (NYSE:RERE), China's largest electronics recycling platform, has just reported its results for the quarter ended 30 June 2024. To summarize, the company’s earnings results were much better compared to the same period a year ago. Even though the stock is trading near the 52-week highs, it is cheap compared to its first days of trading after the IPO that took place on 18 June 2021. Let me explain why RERE still remains an attractive buy. Previous article about ATRenew My previous analysis of ...

ATRenew Inc. (NYSE:RERE) Q2 2024 Earnings Conference Call August 20, 2024 8:00 AM ET Company Participants Jeremy Ji - Director of Corporate Development and IR Kerry Chen - Founder, Chairman, and CEO Rex Chen - CFO Conference Call Participants Joyce Ju - Bank of America Xiaoxin Chen - CICC Michael Kim - Zacks Small Cap Research Operator Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to ATRenew’s Incorporated Second Quarter 2024 Earnings Conference Call. At this tim ...

Financial Performance - Total net revenues increased by 27.4% year-over-year, reaching RMB 3,776.7 million in 2Q24 compared to RMB 2,963.7 million in 2Q23[10] - Product revenues grew by 29.0% year-over-year, amounting to RMB 3,401.8 million in 2Q24 from RMB 2,636.7 million in 2Q23[10] - Service revenues increased by 14.6% year-over-year, reaching RMB 374.9 million in 2Q24 compared to RMB 327.0 million in 2Q23[10] - Non-GAAP income from operations increased significantly by 81.0% year-over-year, reaching RMB 94.1 million in 2Q24 compared to RMB 52.0 million in 2Q23[10] - Non-GAAP operating margin improved by 70 basis points, reaching 2.5% in 2Q24 from 1.8% in the previous year[10] Business Expansion and Operations - The company has 1,516 offline stores as of June 30, 2024, to increase consumer awareness for recycle and reuse[5] - The company had 2,768.7 million RMB in cash and cash equivalents, restricted cash, short-term investments, and funds receivable from third-party payment service providers as of June 30, 2024[8] - The company has 730 self-operated AHS stores and 585 standard joint-operated stores, along with 201 shop-in-shop joint-operated stores as of June 30, 2024[9] - Refurbished device sales exceeded RMB 580 million in the first half of 2024[20] - GMV for recycling used goods of new categories exceeded RMB 1.5 billion in the first half of 2024[21] - Gold product recycling GMV had a five-fold year-on-year increase in 2Q24[50]

SHANGHAI, Aug. 6, 2024 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the "Company") (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced that it plans to release its unaudited financial results for the second quarter of 2024 before the U.S. market opens on Tuesday, August 20, 2024.The Company's management will hold an earnings conference call at 08:00 A.M. Eastern Time on Tuesday, August 20, 2024 (08:00 P.M. Beijing Time on the sa ...

Core Viewpoint - ATRenew Inc. has released its 2023 ESG report, highlighting its commitment to sustainable practices and the circular economy, addressing stakeholder concerns regarding environmental and social governance. Environmental Initiatives - ATRenew's greenhouse gas emissions intensity was recorded at 0.28 tons of CO2 equivalent per million RMB, a decrease of approximately 6.67% compared to 2022, marking four consecutive years of reduced carbon emissions [1] - The company established a climate risk management process following TCFD recommendations and conducted scenario analyses, enhancing its climate risk management capabilities [1] - ATRenew reused 24 tons of packaging filler materials in its B2B business and 192,000 packaging units in its B2C business during 2023 [1] - The company dismantled 111,700 electronic devices in an eco-friendly manner, reducing electronic waste pollution by 17.83 tons [1] Social Contributions - ATRenew expanded its door-to-door service coverage to 94% of cities, improving customer access to recycling services [2] - The company had a talent headcount of 6,288 by the end of 2023, with the proportion of women in senior management increasing from 22.58% to 28.13% [2] - Employee satisfaction increased to a score of 4.64 out of 5, a 4.5% rise from 2022 [2] - ATRenew donated approximately RMB100,000 worth of educational devices to support rural education, benefiting 11,770 children [3] Governance Practices - ATRenew conducted 342 anti-corruption training sessions with 3,491 participants, maintaining a corruption-free record in 2023 [4] - The board of directors includes eight members, with two female directors and three independent directors, enhancing governance diversity [4] - The company improved its internal control systems in accordance with the Sarbanes-Oxley Act, achieving a 100% correction rate for identified deficiencies [4] - ATRenew obtained 46 new intellectual property authorizations and 36 patents in 2023, enhancing its intellectual property protections [4] Innovation and Development - ATRenew expanded its multi-category recycling strategy to include bags, watches, gold, fine wines, and clothing, reaching 252 stores in 27 cities by the end of 2023 [5] - The company partnered with Apple for official recycling and trade-in services, refurbishing 496,035 units in 2023 [5] - ATRenew's Matrix 3.0 automated quality inspection system improved inspection accuracy by 10% and efficiency by 50% [5]

SHANGHAI, June 21, 2024 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the "Company") (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced that the Company's board of directors has approved modifications to the size and term of its existing share repurchase program adopted in March 2024, increasing the aggregate value of shares that may be repurchased from US$20 million to US$50 million and extending the effective term to June 27, ...