ATRenew(RERE) - 2025 Q3 - Quarterly Report

Revenue Growth - Total revenue for Q3 2025 reached RMB5,149 million (US$723.3 million), up 27.1% year-on-year from RMB4,051 million in Q3 2024[4] - Net product revenues grew by 28.7% to RMB4,726 million (US$663.9 million) from RMB3,672 million in Q3 2024[8] - Net service revenues increased by 11.6% to RMB422.8 million (US$59.4 million) compared to RMB379 million in Q3 2024[8] - Net revenues for the three months ended September 30, 2025, increased to RMB 4,726,335, representing a 28.7% growth compared to RMB 3,672,239 in the same period of 2024[29] - Net product revenues for the nine months ended September 30, 2025, reached RMB 13,548,709, up from RMB 10,383,813, indicating a 30.5% year-over-year increase[29] Profitability - Adjusted income from operations increased by 34.9% year-on-year to RMB140 million (US$19.7 million) from RMB104 million in the same period of 2024[4] - Net income for Q3 2025 was RMB90.8 million (US$12.8 million), a 407.3% increase from RMB17.9 million in Q3 2024[10] - The company reported a net income of RMB 90,817 for the three months ended September 30, 2025, compared to RMB 17,883 in the same period of 2024, reflecting a significant increase of 407.5%[29] - Adjusted net income (non-GAAP) for the three months ended September 30, 2025, was RMB 110,179, up from RMB 90,056 in the same period of 2024, marking a 22.3% increase[33] - Basic net income per ordinary share for the three months ended September 30, 2025, was RMB 0.56, compared to RMB 0.11 in the same period of 2024[29] Operating Performance - The number of consumer products transacted was 10.9 million, compared to 9.1 million in the same period of 2024[4] - Operating costs and expenses were RMB5,033 million (US$707 million), an increase of 25.0% from RMB4,028 million in Q3 2024[7] - The company’s operating income for the three months ended September 30, 2025, was RMB 120,778, a substantial increase from RMB 24,885 in the same period of 2024[29] Future Outlook - For Q4 2025, the company expects total revenues to be between RMB6,080 million and RMB6,180 million, representing a year-over-year increase of 25.4% to 27.4%[13] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were RMB2,537.6 million (US$356.4 million), down from RMB2,919.6 million as of December 31, 2024[12] - Total assets as of September 30, 2025, were RMB 5,297,905, a decrease from RMB 5,090,721 as of December 31, 2024[26] - Total current liabilities decreased slightly to RMB 1,306,991 as of September 30, 2025, from RMB 1,330,033 as of December 31, 2024[26] - The company’s cash and cash equivalents increased to RMB 1,970,183 as of September 30, 2025, compared to RMB 1,627,654 as of December 31, 2024, showing a growth of 21.0%[26] Share Repurchase - The company repurchased approximately 0.5 million ADSs for about US$2.1 million during Q3 2025 as part of a US$50 million share repurchase program[14] Comprehensive Income - Total comprehensive income for the three months ended September 30, 2025, was RMB 91,709, compared to RMB 10,790 in the same period of 2024, indicating a significant improvement[30]