Financial Performance - Total net revenues reached RMB 5,149.2 million, a 27.1% year-over-year increase[12] - Net product revenues increased by 28.7% year-over-year, reaching RMB 4,726.3 million[12] - Net service revenues grew by 11.6% year-over-year to RMB 422.8 million[12] - GAAP income from operations saw a significant increase of 385.1% year-over-year, reaching RMB 120.8 million[12] - Non-GAAP income from operations increased by 34.9% to RMB 140.3 million[12] Business Updates - Net product revenues, excluding ATI and international business, increased by 31.9% year-over-year[14] - Multi-category recycling services within the 3P business grew by 55.1% year-over-year[14] - Total transaction units increased by 19.8% year-over-year, reaching 10.9 million units[14] Store Network Expansion - The total number of AHS stores reached 2,195, representing a net increase of 558 stores year-over-year[15] - Self-operated standard stores increased by 228, reaching 997 stores[15] - Joint-operated standard stores increased by 422, reaching 1,099 stores[15]

Financial Performance - Total net revenues for 2Q25 reached RMB 4,991.5 million, a 32.2% year-over-year increase[11] - Net product revenues for 2Q25 were RMB 4,558.7 million, up 34.0% year-over-year[11] - Net service revenues for 2Q25 amounted to RMB 432.8 million, reflecting a 15.4% year-over-year growth[11] - GAAP income from operations for 2Q25 was RMB 91.1 million, a quarterly high[11] - Non-GAAP income from operations for 2Q25 was RMB 121.3 million, a 28.9% year-over-year increase[11] - ATRenew repurchased 12.3 million ADSs with US$ 31.1 million during FY24 and 1H25[11] Business Updates - 1P business net product revenues increased by 34.0% year-over-year in 2Q25[13] - Excluding Apple Trade-In and international businesses, 1P business net product revenues increased by 39.2% year-over-year in 2Q25[13] - 3P business net service revenues increased by 15.4% year-over-year in 2Q25[13] - Multi-category recycling services saw a 107.1% year-over-year increase in 2Q25[13] - Transaction volumes in 2Q25 reached 10.3 million units, a 22.6% year-over-year increase[13] - The total AHS store count reached 2,092 as of June 30, 2025, a net increase of 576 year-over-year[13]

Financial Performance - Total net revenues for 4Q24 reached RMB 4,849.3 million, a 25.2% year-over-year increase[7] - Net product revenues for 4Q24 were RMB 4,460.6 million, up 26.6% year-over-year[7] - Net service revenues for 4Q24 amounted to RMB 388.7 million, reflecting a 10.7% year-over-year growth[7] - Non-GAAP income from operations for 4Q24 increased by 61.0% year-over-year to RMB 131.4 million[7] - For the full year 2024, total net revenues reached RMB 16,328.4 million, a 25.9% year-over-year increase[7] - Full year 2024 GAAP income from operations was RMB 29.0 million, achieving a profit-making milestone[7] - Non-GAAP income from operations for the full year 2024 grew by 62.8% year-over-year to RMB 409.7 million[7] Business Updates - Net product revenues from the Trade-In Apple (ATI) program increased by 71.1% year-over-year in 4Q24 and 223.2% year-over-year for the full year 2024[9] - Net service revenues from multi-category recycling increased by 131.9% year-over-year in 4Q24 and 319.0% year-over-year for the full year 2024[10] - The company transacted 9.4 million units in 4Q24, a 10.6% year-over-year increase, and 35.3 million units for the full year, a 9.3% year-over-year increase[12] Operational Strategy - The company is focused on improving cost efficiency with technology, with Non-GAAP fulfillment expenses as a percentage of total revenues declining from 12.9% in FY21 to 8.3% in FY24[34] - As of December 31, 2024, ATRenew has 1,861 offline stores[41]