ATRenew Inc. Reports Unaudited Fourth Quarter and Full Year 2025 Financial Results and Announces Cash Dividend

Core Insights - ATRenew Inc. reported strong financial results for Q4 and full year 2025, with total net revenues increasing by 29.0% year-on-year to RMB6,254.2 million (US$894.3 million) in Q4 and by 28.9% to RMB21,048.3 million (US$3,009.9 million) for the full year [1][2] Q4 2025 Highlights - The number of consumer products transacted reached 11.0 million, up from 9.4 million in Q4 2024 [1] - Income from operations was RMB171.6 million (US$24.5 million), a significant increase of 223.2% from RMB53.1 million in Q4 2024 [1] - Adjusted income from operations rose to RMB181.5 million (US$26.0 million), reflecting a 38.1% increase from RMB131.4 million in the same period of 2024 [1] - Total net revenues for Q4 2025 were RMB6,254.2 million (US$894.3 million), compared to RMB4,849.3 million in Q4 2024 [1] Full Year 2025 Highlights - The total number of consumer products transacted for the year was 41.7 million, compared to 35.3 million in 2024 [1] - Income from operations for the full year was RMB456.2 million (US$65.2 million), a dramatic increase of 1,473.1% from RMB29.0 million in 2024 [1] - Adjusted income from operations for the year was RMB555.0 million (US$79.4 million), up 35.5% from RMB409.7 million in 2024 [1] - Total net revenues for the full year increased to RMB21,048.3 million (US$3,009.9 million) from RMB16,328.4 million in 2024 [1] Operational Efficiency - The company attributed its improved profitability to economies of scale and enhanced operational efficiencies driven by technology and automation [1] - Research and development expenses increased by 15.9% to RMB243.9 million (US$34.9 million) for the full year, primarily due to higher personnel costs [1] - Selling and marketing expenses rose by 21.0% to RMB1,653.7 million (US$236.5 million) for the full year, driven by increased advertising and promotional expenses [1] Cash Dividend and Share Repurchase - The Board approved a cash dividend of US$0.1 per ADS and US$0.15 per ordinary share for FY2025, totaling approximately US$23.5 million [2] - ATRenew repurchased approximately 3.8 million ADSs for about US$13.1 million during 2025 [2] Business Outlook - For Q1 2026, ATRenew expects total revenues to be between RMB5,860.0 million and RMB5,960.0 million, representing a year-on-year increase of 25.9% to 28.1% [1]