SHANGHAI, June 20, 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 will attend the Bank of America Internet Tour in Shanghai on June 28, 2024.ATRenew's management will attend in-person and host one group meeting for interested investors and analysts. During the meeting, there will be a presentation on the Company's recent financial and business highligh ...

SHANGHAI, May 31, 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 renewed the business cooperation agreement with JD.com (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)) for a term from June 1, 2024 to December 31, 2027. The two parties will continue to cooperate in the second-hand business by integrating resources and leveraging their ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][6]. Core Insights - The company reported a total revenue of 3.65 billion RMB for Q1 2024, representing a year-on-year increase of 27.1%. The Non-GAAP operating profit was 80 million RMB, up 80.8% year-on-year, with a Non-GAAP operating profit margin of 2.2%, an increase of 0.7 percentage points compared to the same period last year [3][4]. - The company anticipates Q2 2024 revenue to be between 3.67 billion and 3.77 billion RMB, reflecting a year-on-year growth of 23.8% to 27.2% [3]. Revenue Breakdown - The company's Q1 2024 revenue breakdown shows that 1P product revenue was 3.31 billion RMB, a year-on-year increase of 28.5%, primarily driven by increased sales of second-hand electronic products, which accounted for 90.7% of total revenue, up 1.0 percentage points year-on-year [4]. - The 3P service revenue was 340 million RMB, a year-on-year increase of 15.1%, attributed to growth in the PJT market and multi-category recycling services [4]. Profitability Analysis - The gross profit margin for Q1 2024 was 19.3%, down 2.3 percentage points from the previous year. The company’s fulfillment expenses were 310 million RMB, up 16.3% year-on-year, due to increased personnel costs from more recycling transactions [4]. - The Non-GAAP net profit for Q1 2024 was 20 million RMB, a decrease of 58.7% year-on-year, with a Non-GAAP net profit margin of 0.6%, down 1.2 percentage points from the previous year [3][4]. Future Projections - The company is projected to achieve revenues of 16.4 billion, 20.4 billion, and 24.8 billion RMB for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 27%, 24%, and 21% [6][7]. - Non-GAAP net profits are expected to be 400 million, 620 million, and 870 million RMB for the same years, with growth rates of 76%, 57%, and 39% respectively [6][7]. Market Performance - The company has outperformed the S&P 500 index over various time frames, with a 74.84% increase over the last 1 month and 146.36% over the last 3 months [5]. - As of May 21, 2024, the company's stock price was 2.64 USD, with a market capitalization of approximately 579.44 million USD [5]. Valuation Metrics - The report indicates a projected P/E ratio of 11, 7, and 5 for the years 2024, 2025, and 2026 respectively, suggesting a favorable valuation outlook [6][7].

ATRenew Inc. (NYSE:RERE) Q1 2024 Earnings Conference Call May 20, 2024 8:00 AM ET Company Participants Jeremy Ji - Director of Corporate Development and Investor Relations Kerry Chen - Founder, Chairman, and Chief Executive Officer Rex Chen - Chief Financial Officer 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 Inc.’s First Quarte ...

SHANGHAI, May 20, 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 unaudited financial results for the three months ended March 31, 2024. First Quarter 2024 Highlights Total net revenues grew by 27.1% to RMB3,651.1 million (US$505.7 million) from RMB2,871.8 million in the first quarter of 2023.Loss from operations was RMB43.4 million (US$6.0 million), compar ...

SHANGHAI, May 7, 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 will attend the Goldman Sachs TechNet Conference Asia Pacific 2024 in Hong Kong from May 22-23, 2024. ATRenew's management will attend in-person and host one-on-one or group meetings for interested investors and analysts. There will be a presentation on the Company's recent financ ...

SHANGHAI, May 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 first quarter of 2024 before the U.S. market opens on Monday, May 20, 2024.The Company's management will hold an earnings conference call at 08:00 A.M. Eastern Time on Monday, May 20, 2024 (08:00 P.M. Beijing Time on the same day) to ...

Core Viewpoint - ATRenew Inc. has appointed Mr. Mervin Ye Zhou to its board of directors, filling the vacancy left by Mr. Lijun Xin's resignation, which reflects the company's commitment to strategic growth and excellence [1][3]. Company Overview - ATRenew Inc. is a leading technology-driven platform for pre-owned consumer electronics transactions and services in China, established in 2011 [4]. - The company aims to address the environmental impact of pre-owned electronics by facilitating recycling and trade-in services, thereby prolonging the lifecycle of devices [4]. - ATRenew integrates C2B, B2B, and B2C capabilities, providing end-to-end coverage of the entire value chain with proprietary inspection, grading, and pricing technologies [4]. New Board Member Profile - Mr. Mervin Ye Zhou is currently a vice president at JD.com, overseeing strategic investments, mergers and acquisitions, and portfolio management [2]. - He has over 10 years of experience at SoftBank China Venture Capital and previously worked at McKinsey & Company as an Engagement Manager [2]. - Mr. Zhou holds a bachelor's degree in electronic engineering from Tsinghua University and a Ph.D. in electrical engineering and computer sciences from UC Berkeley [2]. Leadership Statement - Mr. Kerry Xuefeng Chen, the Founder, Chairman, and CEO of ATRenew, expressed gratitude to Mr. Lijun Xin for his contributions and welcomed Mr. Zhou, highlighting his extensive experience in business and finance as valuable for the company's future [3].

Core Viewpoint - ATRenew Inc. has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC, highlighting its position as a leading technology-driven platform for pre-owned consumer electronics in China [1]. Company Overview - ATRenew Inc. is headquartered in Shanghai and operates a pre-owned consumer electronics transactions and services platform under the brand ATRenew [2]. - The company was founded in 2011 and aims to give a second life to idle goods, addressing the environmental impact of pre-owned electronics through recycling and trade-in services [2]. - ATRenew integrates C2B, B2B, and B2C capabilities, providing end-to-end coverage of the entire value chain with proprietary inspection, grading, and pricing technologies [2]. - The company is a participant in the United Nations Global Compact, adhering to principles of responsible business [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered American depositary shares (every three ADSs represent two Class A ordinary shares, par value US$0.001 per share) RERE New York Stock Exchange Class A ordinary shares, par value US$0.001 per share* New York Stock Exchange FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT P ...