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 ...

SHANGHAI, June 26, 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 released its 2023 environmental, social, and governance ("ESG") report (the "Report"). This marks the fourth consecutive year of disclosing the Company's steadfast commitment to advancing the circular economy and promoting sustainable consumption. The Report addresses the concerns of key stakeholders, inc ...

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, ...

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 ...