ATRENEW INC Stock Price, News & Analysis

ATRenew Inc. (NYSE: RERE), a leading pre-owned consumer electronics platform in China, has announced an improvement in its S&P Global Corporate Sustainability Assessment ESG score for 2024. The company's score increased to 35 from 33 in the previous year, placing it in the 93rd percentile among global RTS retailing industry peers.

ATRenew showed progress across all three ESG dimensions:

• Environmental: Score of 40, demonstrating strong performance in environmental policy and management
• Social: Score increased to 31 from 20 in 2023, showing progress in human capital management
• Governance & Economic: Score of 31, showcasing commitment to ethical business practices

The assessment identified climate strategy, human capital management, and business ethics as key drivers of ATRenew's ESG performance. The company also received high marks for information security and cybersecurity.

ATRenew Inc. (NYSE: RERE) reported strong financial results for Q2 2024. Total net revenues grew by 27.4% year-over-year to RMB3,776.7 million (US$519.7 million). The company significantly reduced its loss from operations to RMB5.6 million (US$0.8 million), compared to RMB61.0 million in Q2 2023. Adjusted income from operations (non-GAAP) increased to RMB94.1 million (US$12.9 million), marking a new quarterly record. The number of consumer products transacted rose to 8.4 million. ATRenew renewed its cooperation with JD.com and increased its share repurchase program to US$50.0 million. For Q3 2024, the company expects total revenues between RMB3,970.0 million and RMB4,070.0 million, representing 21.9% to 25.0% year-over-year growth.

ATRenew Inc. (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, has announced its plans to release unaudited financial results for the second quarter of 2024 on August 20, 2024, before the U.S. market opens. The company will hold an earnings conference call at 08:00 A.M. Eastern Time (08:00 P.M. Beijing Time) on the same day to discuss the financial results.

Investors and interested parties can access the call through various international and toll-free numbers. A live and archived webcast of the conference call will also be available on the company's investor relations website at https://ir.atrenew.com. The replay of the call will be accessible until August 27, 2024.

ATRenew (NYSE: RERE) has published its 2023 ESG report, marking the fourth consecutive year of showcasing its commitment to sustainable development. Key highlights include a 6.67% reduction in greenhouse gas emissions, systematic climate risk management, and increased reuse of packaging materials. The company responsibly disposed of 111,700 electronic devices, reducing e-waste by 17.83 tons.

ATRenew also focused on enhancing information security, expanding door-to-door services, and increasing the representation of women in senior management to 28.13%. Employee satisfaction improved by 4.5%, and contributions to social welfare included donations to educational projects and environmental clean-ups.

The company upheld high ethical standards, conducted extensive anti-corruption training, and improved internal control systems with a 100% correction rate for SOX deficiencies. ATRenew also joined the United Nations Global Compact, reinforcing its commitment to international ESG standards.

In 2023, ATRenew expanded its recycling services and brand collaborations, including partnerships with Apple and Huawei. The company's automated quality inspection system, Matrix 3.0, enhanced inspection accuracy by 10% and efficiency by 50%.

ATRenew announced an expansion of its share repurchase program. Initially set at $20 million, the board has increased the limit to $50 million. Additionally, the program's term has been extended to June 27, 2025. The program aims to reflect the company's commitment to enhancing shareholder value.

ATRenew (NYSE: RERE), a prominent technology-driven platform for pre-owned consumer electronics in China, will participate in the Bank of America Internet Tour in Shanghai on June 28, 2024. The company's management will attend in-person and conduct a group meeting for investors and analysts. This session will include a presentation on ATRenew's recent financial and business achievements, followed by a Q&A segment. Investors can contact their Bank of America representative for event registration details.

ATRenew Inc. (NYSE: RERE) has renewed its business cooperation agreement with JD.com (NASDAQ: JD) for a term extending from June 1, 2024, to December 31, 2027.

This agreement focuses on the second-hand consumer electronics market, leveraging both companies' strengths in user traffic, technology support, and logistics to enhance customer experiences. The partnership aims to deliver high-quality and competitively priced pre-owned electronics in China.

ATRenew (NYSE: RERE) reported a 27.1% increase in first-quarter 2024 revenues to RMB3,651.1 million (US$505.7 million). Loss from operations reduced to RMB43.4 million (US$6.0 million) from RMB67.6 million a year prior. Adjusted income rose to RMB80.2 million (US$11.1 million) from RMB44.4 million. Net loss widened to RMB92.9 million (US$12.9 million) from RMB50.0 million. Revenue expectations for Q2 2024 range between RMB3,670.0 million and RMB3,770.0 million, a 23.8%-27.2% increase year-over-year. Cash and equivalents fell to RMB2,599.9 million (US$360.1 million). On April 26, 2024, Mervin Ye Zhou joined the board, replacing Lijun Xin.

ATRenew Inc. (NYSE: RERE) will participate in the Goldman Sachs TechNet Conference Asia Pacific 2024 in Hong Kong from May 22-23, 2024. ATRenew's management will engage with investors and analysts, presenting recent financial and business updates, and holding Q&A sessions.