Financial Data and Key Metrics Changes - The total gross income for the third quarter reached RMB 40.5 billion, reflecting a year-over-year growth of 24.4% [2][10] - Total revenue for the third quarter was RMB 4.05 billion, with product revenue increasing by 25.6% year-over-year [2][10] - Non-GAAP operating income was RMB 1.04 billion, representing a 40.9% increase year-over-year, with a non-GAAP operating margin of 2.6% [6][14] - The company reported its first GAAP operating income of RMB 24.9 million [7][14] Business Line Data and Key Metrics Changes - The core recycling business revenue in mainland China grew by over 30% year-over-year, significantly outpacing the overall market growth [2][3] - Revenue from the multi-category recycling business increased by 270% year-over-year, generating over RMB 30 million in service revenue [5][19] - The trading services through JD.com saw a year-over-year increase of 246% during the Double 11 promotion [4][17] Market Data and Key Metrics Changes - The second-hand consumer electronics industry in China is growing at approximately 10% year-over-year [7][8] - The value of goods collected through JD.com via regular recycling and trading services increased by over 40% year-over-year [4][17] - The acceptance of second-hand goods is rising, with direct-to-consumer sales through various channels growing significantly [6][22] Company Strategy and Development Direction - The company aims to enhance service capabilities and user experience in both online and physical stores to build brand trust and secure recycling resources [2][3] - There is a focus on expanding the multi-category recycling services to meet growing consumer demand, particularly in luxury goods and high-value items [19][20] - The long-term strategy emphasizes strengthening supply chain advantages and consumer trust in the AHS Recycle brand [8][9] Management Comments on Operating Environment and Future Outlook - Management noted that consumer spending is slowing down, but the company is adapting by opening new physical stores to meet demand for idle goods [3][4] - The company expects total revenues for the fourth quarter of 2024 to be between RMB 4,740 million and RMB 4,840 million, indicating a year-over-year increase of 22.4% to 24.9% [15] - There is optimism regarding the growth of the trading business, with expectations for increased consumer adoption of trade-in services [17][18] Other Important Information - The company has initiated an ESG campaign in collaboration with leading consumer brands to promote eco-friendly recycling practices [9] - As of September 30, 2024, the company had cash and cash equivalents totaling $2.4 billion, indicating a strong cash position despite a decrease from the previous quarter [15] Q&A Session Summary Question: How are trading subsidies driving business growth? - Management highlighted that collaboration with JD.com has led to significant growth in recycling and trading business, with trading services doubling year-over-year [16][17] Question: What is the progress of the multi-category recycling business? - The multi-category recycling business has seen a 270% increase in recycling volume, generating substantial service revenue and enhancing store-level operating profit [19][20] Question: What are the expectations for pre-owned smartphone transactions? - Management noted that while direct subsidies for smartphones are lacking, the company's cross-category trading capabilities are effectively capturing consumer demand [21][22]

3Q24 INVESTOR PRESENTATION November 2024 Safe Harbor 1 Forward-looking Statements This presentation has been prepared by ATRenew Inc. (the "Company") solely for informational purposes. This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations and projections with respect to, among other things, our financial condition, results of operations, plans, objectiv ...

实现GAAP层面全面盈利。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，二手消费电子产品交易和服务平台万物新生（爱回收）集团（纽交所股票代码： RERE）于11月20日美股盘前发布了2024年第三季度业绩报告。 · 1P(自营)产品收入达 36.7 亿元,同比增长 25.6%。 · 3P(平台)服务收入达 3.8亿元,同比增长 13.9%。 ● Q3 non-GAAP ● 同比增长 经营利润 1.04 亿元 40.9% · 连续九个季度实现 non-GAAP 经营利润,单季创 历史新高。 · 03 集团 non-GAAP 经营利润率较去年同期的 2.3% 提升至 2.6%,单季创历史新高。 03 non-GAAP ● 同比增长 净利润 9006 万元 89.3% 值得注意的是，万物新生的盈利能力全面优化—— 三季度，万物新生集团实现经营利润2489万元， 净利润为1788万元，实现单季GAAP标准下的全面盈利。 此外，本季度万物新生Non-GAAP经营利 润超1亿元，同比增长40.9%，创下历史新高；non-GAAP经营利润率由 2 023年同期 ...

Core Viewpoint - ATRenew Inc. reported strong financial results for the third quarter of 2024, with total net revenues increasing by 24.4% year-over-year, driven by the growth in pre-owned consumer electronics transactions and services [2][3][4]. Financial Performance - Total net revenues reached RMB4,051.2 million (US$577.3 million), up from RMB3,256.8 million in Q3 2023, marking a 24.4% increase [2][4]. - Net product revenues increased by 25.6% to RMB3,672.2 million (US$523.3 million) from RMB2,924.0 million in the same period of 2023 [5]. - Net service revenues rose by 13.9% to RMB379.0 million (US$54.0 million) compared to RMB332.8 million in Q3 2023 [5]. Operating Results - Income from operations was RMB24.9 million (US$3.5 million), a turnaround from a loss of RMB28.1 million in Q3 2023 [10]. - Adjusted income from operations (non-GAAP) was RMB104.0 million (US$14.8 million), compared to RMB73.8 million in the same period of 2023 [10][29]. - Net income was RMB17.9 million (US$2.6 million), compared to a net loss of RMB44.2 million in Q3 2023 [11]. Shareholder Returns - The company repurchased approximately 4.9 million ADSs for about US$12.1 million during the quarter, with a total of approximately 8.2 million ADSs repurchased for about US$20.1 million under its current share repurchase program [15]. Business Outlook - For Q4 2024, ATRenew expects total revenues to be between RMB4,740.0 million and RMB4,840.0 million, representing a year-over-year increase of 22.4% to 24.9% [13]. Recent Developments - ATRenew improved its Environmental, Social and Governance (ESG) score, ranking in the 93rd percentile among its global retail industry peers, attributed to enhanced transparency in climate strategy and business ethics [14].

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 ...