ATRENEW INC Stock Price, News & Analysis

AiHuiShou International Co. Ltd. (NYSE: RERE) has received high commendation from the Treasury Today Group's Adam Smith Awards Asia 2021 for 'Best in Class Treasury Solution' in the PRC category. This recognition highlights ATRenew's advancements in corporate treasury functions, including digital account management and supply chain finance, enhancing treasury efficiency and risk management. CEO Rex Chen emphasized ongoing investments in treasury team development to enhance stakeholder service.

SHANGHAI, Sept. 30, 2021 /PRNewswire/ -- AiHuiShou International Co. Ltd. (NYSE: RERE) has announced an extraordinary general meeting (EGM) scheduled for November 15, 2021, at 10:00 a.m. Beijing time. The meeting will address a proposal to change the company name to "ATRenew Inc." Shareholders of record as of October 8, 2021, are entitled to vote. ATRenew, established in 2011, operates a leading platform for pre-owned consumer electronics in China, focusing on sustainability and recycling through its innovative services.

AiHuiShou International Co. Ltd. (NYSE: RERE) participated in the 2021 China Investor Future Summit, where CEO Kerry Chen discussed the company’s commitment to social responsibility and environmental sustainability. The discussion focused on China's 'dual carbon' goals and the growth of a circular economy, which ATRenew is well-positioned to support. The demand for pre-owned consumer goods, particularly electronics, is rising in China. The company aims to extend the lifecycle of these products while enhancing its ESG integration for long-term stability and value creation.

On September 16, 2021, ATRenew (NYSE: RERE) presented at the CITIC CLSA Flagship Investors' Forum, outlining the growth potential in the pre-owned consumer electronics market in China. CEO Kerry Chen highlighted the need for sustainable practices to manage electronic waste, citing over 2.6 billion devices circulating in the country. ATRenew's integrated approach utilizes C2B, B2B, and B2C models, focusing on recycling and extending product lifecycles. The company emphasizes ESG accountability, recently publishing its first ESG report on August 17, 2021, enhancing brand recognition and sustainability efforts.

AiHuiShou International Co. Ltd. (NYSE: RERE) reported a56.2% increase in total net revenues for Q2 2021, reaching RMB1,867.7 million (US$289.3 million) compared to RMB1,195.8 million in Q2 2020. Despite this growth, the company faced aloss from operations of RMB507.3 million (US$78.6 million), significantly higher than RMB116.0 million in the prior year. Gross Merchandise Volume (GMV) rose69.6% to RMB7.8 billion, driven by online marketplace transactions.

The company expects Q3 2021 revenues between RMB1,870.0 million and RMB1,930.0 million.

AiHuiShou International Co. Ltd. (NYSE: RERE) will release its unaudited financial results for Q2 2021 before the U.S. market opens on August 17, 2021. An earnings conference call is scheduled for 8:00 A.M. ET on the same day, where management will discuss the results. Interested parties can access the call via designated numbers and through the company's investor relations website. Founded in 2011 and headquartered in Shanghai, ATRenew focuses on pre-owned consumer electronics transactions and sustainability.

AiHuiShou International Co. Ltd. (RERE) has responded to China's 14th Five-Year Plan for Circular Economy Development, emphasizing its commitment to recycling and the sustainable management of pre-owned consumer electronics. The Company donated over RMB0.6 million worth of iPads to rural schools, aiming to support education. ATRenew plans to enhance its services in the circular economy market, which is projected to grow at a CAGR of 23.7%, reaching 545.8 million units by 2025. The Company integrates C2B, B2B, and B2C capabilities to improve efficiency and set new industry standards.

AiHuiShou International Co. Ltd. has priced its initial public offering (IPO) of 16,233,000 American Depositary Shares (ADSs) at $14.00 each, totaling approximately $227 million. The ADSs will start trading on the New York Stock Exchange under the symbol 'RERE' on June 18, 2021. The offering is set to close around June 22, 2021, pending customary conditions. The underwriters have an option to purchase an additional 2,434,950 ADSs at the same price within 30 days. Goldman Sachs, BofA Securities, and China Renaissance are the joint bookrunners for this IPO.