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ATRenew Inc. reports news as a China-based technology-driven recycling and trade-in platform for consumer products and pre-owned consumer electronics. The company’s open platform integrates C2B, B2B and B2C capabilities across online and offline services, including marketplace activity tied to PJT Marketplace and Paipai Marketplace.
Recurring updates cover unaudited quarterly and annual financial results, product and service revenue trends, consumer products transacted, cash dividends, annual Form 20-F reporting, board and committee changes, and commentary on circular-economy practices in the pre-owned electronics value chain.
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.
ATRenew Inc. (NYSE: RERE) will release its unaudited financial results for Q1 2024 on May 20, 2024. The earnings conference call will take place on the same day to discuss the results.
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