ATRenew Inc. Unveils Strong Third Quarter Financial Results for 2025

Overview
On November 20, 2025, ATRenew Inc., a leading technology-driven platform for pre-owned consumer electronics transactions in China, declared its unaudited financial results for the third quarter of 2025. The company, traded under the NYSE ticker RERE, demonstrated remarkable financial performance amidst the rapidly evolving electronics market.

Third Quarter Highlights
During the three months ending on September 30, 2025, ATRenew reported a 27.1% increase in total net revenues, reaching RMB 5,149.2 million (approximately USD 723.3 million) compared to RMB 4,051.2 million in the same quarter of the previous year. This impressive growth in revenue indicates the company's effective strategies in capitalizing on the rising demand for pre-owned electronics.

The operational income also showcased a staggering rise of 385.1% year-on-year, amounting to RMB 120.8 million (USD 17.0 million). Adjusted operational income, excluding certain expenses, rose by 34.9% compared to last year, reaching RMB 140.3 million (USD 19.7 million).

Moreover, the number of consumer products transacted through ATRenew vastly increased to 10.9 million, up from 9.1 million in Q3 2024, signaling an effective expansion of their business operations.

Management Insights
Kerry Xuefeng Chen, the Founder and CEO of ATRenew, expressed his satisfaction with the company's performance. He stated, "In the third quarter of 2025, ATRenew once again delivered impressive results. Total revenue for the quarter reached a record high of RMB 5,149 million, up 27.1% year-on-year." He attributed this success to the strategic focus on enhancing supply chain capabilities and improving transaction efficiency within their marketplaces. This strategy enabled ATRenew to secure high-quality supplies and meet the growing demand for refurbished and compliant products, thereby delivering more value to their client base.

Rex Chen, the Chief Financial Officer, echoed this sentiment, highlighting improved profitability metrics across various sectors of the company. He noted the impact of increasing public acceptance of recycling and trade-in services, indicating that such trends are anticipated to elevate the company's overall profitability moving forward. Notably, ATRenew is implementing a shareholder return plan that aims to create additional value based on its improved financial performance.

Financial Overview
The revenue breakdown revealed that net product revenues surged by 28.7%, reaching RMB 4,726.3 million (USD 663.9 million), primarily driven by increased online sales of pre-owned consumer electronics. Net service revenues also rose by 11.6%, totaling RMB 422.8 million (USD 59.4 million), reflecting the success of ATRenew's multi-category recycling initiatives and robust marketplace revenues.

Despite operating costs rising to RMB 5,033.2 million (USD 707.0 million), the growth in revenues significantly outpaced expenses. Key areas such as merchandise costs ascended by 26.3% due to increased product sales, while fulfillment expenses and selling and marketing expenses saw respective hikes of 25.9% and 15.4%, mainly due to heightened activities in recycling and advertising efforts.

The company reported a net income of RMB 90.8 million (USD 12.8 million), a 407.3% increase from RMB 17.9 million in Q3 2024. Both basic and diluted net income per ordinary share reached RMB 0.56 (USD 0.08), markedly higher than the previous year's results.

Looking Ahead
As ATRenew sets its sights on the fourth quarter of 2025, it forecasts total revenues between RMB 6,080.0 million and RMB 6,180.0 million, projecting a year-over-year increase of 25.4% to 27.4%. This optimistic outlook is rooted in the management's confidence in current and future market conditions.

The company is also keeping an eye on expanding its share repurchase program, having already repurchased approximately 0.5 million American Depository Shares (ADS) for roughly USD 2.1 million during the third quarter. Such efforts underscore ATRenew's dedication to enhancing shareholder value.

With the commitment to addressing environmental concerns through recycling and trade-ins, ATRenew continues to establish itself as a leader in the pre-owned consumer electronics market, encouraging sustainable practices while driving substantial economic growth.

For anyone interested in the evolving landscape of pre-owned electronics, ATRenew's results offer substantial insights into the industry's future direction and potential opportunities for investors and consumers alike.