ATRenew Announces US$50 Million Share Repurchase Program

Rhea-AI Summary

ATRenew (NYSE: RERE), China's leading technology-driven pre-owned consumer electronics transactions platform, has announced a significant share repurchase program of up to US$50 million. The program will run for 12 months starting June 30, 2025.

The company plans to execute the repurchases through various means, including open market transactions at prevailing prices, privately negotiated deals, and block trades. The program will be funded from ATRenew's existing cash reserves and will be subject to periodic review by the board of directors, who may adjust its terms and size.

Positive

• Board authorized substantial US$50 million share repurchase program
• Program demonstrates confidence in company's financial position with funding from existing cash balance
• Flexible repurchase approach through multiple channels including open market and private transactions

Negative

• Program may reduce company's cash reserves available for operations and growth

SHANGHAI, June 30, 2025 /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 its board of directors has authorized a new share repurchase program, under which the Company may repurchase up to US$50 million of its shares (including in the form of American depositary shares) over a 12-month period starting from June 30, 2025. 

The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance.

About ATRenew Inc.

Headquartered in Shanghai, ATRenew Inc. operates a leading technology-driven pre-owned consumer electronics transactions and services platform in China under the brand ATRenew. Since its inception in 2011, ATRenew has been on a mission to give a second life to all idle goods, addressing the environmental impact of pre-owned consumer electronics by facilitating recycling and trade-in services, and distributing the devices to prolong their lifecycle. ATRenew's open platform integrates C2B, B2B, and B2C capabilities to empower its online and offline services. Through its end-to-end coverage of the entire value chain and its proprietary inspection, grading, and pricing technologies, ATRenew sets the standard for China's pre-owned consumer electronics industry. ATRenew is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ATRenew's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ATRenew's strategies; ATRenew's future business development, financial condition and results of operations; ATRenew's ability to maintain its relationship with major strategic investors; its ability to facilitate pre-owned consumer electronics transactions and provide relevant services; its ability to maintain and enhance the recognition and reputation of its brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ATRenew's filings with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com 

In the United States:
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461

View original content:https://www.prnewswire.com/news-releases/atrenew-announces-us50-million-share-repurchase-program-302494230.html

SOURCE ATRenew Inc.

FAQ

What is the size of ATRenew's (NYSE: RERE) new share repurchase program?

ATRenew announced a US$50 million share repurchase program that includes both shares and American depositary shares.

How long will ATRenew's (RERE) share buyback program last?

The share repurchase program will run for 12 months, starting from June 30, 2025.

How will ATRenew (RERE) fund its share repurchase program?

ATRenew plans to fund the repurchases from its existing cash balance.

What methods will ATRenew (NYSE: RERE) use to execute its share buyback?

The company may repurchase shares through open market purchases at prevailing prices, privately negotiated transactions, block trades, and other legally permissible means.

Can ATRenew (RERE) modify the terms of its share repurchase program?

Yes, the company's board of directors will review the program periodically and may authorize adjustments to its terms and size.