ATRENEW INC Stock Price, News & Analysis

ATRenew Inc. (NYSE: RERE) reported a strong first quarter for 2022, with total net revenues rising by 45.7% to RMB2,206.5 million (US$348.1 million), up from RMB1,514.4 million in Q1 2021. Despite a loss from operations of RMB134.8 million (US$21.3 million), adjusted income from operations improved to RMB3.9 million (US$0.6 million). Gross Merchandise Volume increased by 51.6% to RMB9.4 billion. The company anticipates revenues between RMB2,000.0 million and RMB2,050.0 million for Q2 2022. Cash and equivalents slightly decreased to RMB2,419.5 million, while share repurchases from December 2021 continued.

ATRenew has appointed Ms. Rui Zhu as an independent director effective May 17, 2022. She takes over from Mr. Yongliang Wang, who remains a director and President. The Board now includes eight members, which enhances its diversity. Ms. Zhu's expertise in consumer behavior and marketing is expected to provide valuable insights as ATRenew pursues growth opportunities in China's circular economy. This strategic appointment aligns with the company's mission of promoting sustainability in pre-owned consumer electronics.

ATRenew Inc. (NYSE: RERE) announced it will release its unaudited financial results for Q1 2022 before the U.S. market opens on May 24, 2022. The company will hold an earnings conference call at 08:00 A.M. Eastern Time on the same day, which will also be available via a live and archived webcast on its investor relations website.

Founded in 2011, ATRenew specializes in pre-owned consumer electronics transactions in China, aiming to lessen environmental impacts through recycling and trade-in services.

ATRenew Inc. (NYSE: RERE) provided an update regarding its status under the Holding Foreign Companies Accountable Act (HFCAA) on May 5, 2022. Following the filing of its annual report on Form 20-F for 2021, the U.S. SEC provisionally identified the Company as a Commission-Identified Issuer. This designation indicates that the Company's auditor's working papers cannot be fully inspected by the PCAOB. ATRenew emphasizes its commitment to comply with regulations and its mission to support a circular economy through pre-owned electronics services.

ATRenew Inc. (NYSE: RERE), a leading pre-owned consumer electronics platform in China, announced the filing of its annual report on Form 20-F for FY 2021 with the SEC on April 27, 2022. Shareholders can access the report via the SEC's website or ATRenew's investor relations site. Additionally, the company released its 2022 letter to shareholders, 'A Trailblazer in the New Circular Economy,' authored by CEO Kerry Xuefeng Chen, outlining the company's commitment to sustainability and the circular economy.

ATRenew Inc. (NYSE: RERE), a leader in pre-owned consumer electronics in China, will present at multiple conferences in March 2022. Key events include the Goldman Sachs Internet Series on March 14-15, the Morgan Stanley Virtual Hong Kong Summit on March 23, and the Bank of America Securities APAC TMT Conference on March 24-25. The Company will provide insights into its recent financial performance and business highlights, along with engaging in Q&A sessions with interested investors. ATRenew, headquartered in Shanghai, has been committed to promoting sustainable practices through its technology-driven platform since 2011.

ATRenew reported a 48.2% revenue increase to RMB2,435.8 million ($382.2 million) for Q4 2021, surpassing prior guidance. However, the loss from operations widened to RMB125.9 million ($19.8 million) compared to RMB59.1 million in Q4 2020. Full-year revenues grew 60.1% to RMB7,780.3 million ($1.2 billion), with a net loss of RMB816.5 million ($128.1 million). The company anticipates Q1 2022 revenues between RMB2,150 million to RMB2,200 million.

ATRenew Inc. (NYSE: RERE) has announced plans to release its unaudited financial results for Q4 and the full year of 2021 on March 10, 2022. The earnings conference call will take place at 08:00 A.M. ET on the same day. ATRenew operates as a leading platform for pre-owned consumer electronics in China, focusing on recycling and trade-in services to extend the lifecycle of devices. The company aims to enhance its brand recognition and address environmental impacts through its technology-driven operations.

ATRenew Inc. (NYSE: RERE) has authorized a share repurchase program to buy back up to US$100 million of its shares over the next twelve months, starting December 28, 2021. The repurchases may occur in various ways including open market transactions and block trades, depending on market conditions. Funding will come from the company’s existing cash. This move is aimed at enhancing shareholder value by reducing the number of outstanding shares and potentially increasing earnings per share (EPS).