ATRenew(US:RERE)2025-03-11 18:26Financial 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]