ATRenew Inc. announced its unaudited financial results for the second quarter ended June 30, 2025, reporting total net revenues of RMB 4,991.5 million (US$696.8 million), a substantial 32.2% increase year-over-year, surpassing the high end of the company's guidance. This strong performance was driven by a 34% year-over-year surge in 1P product revenue and a 15.4% increase in 3P service revenue.
The company achieved GAAP income from operations of RMB 91.1 million (US$12.7 million), a significant improvement from a loss of RMB 5.6 million in Q2 2024. Notably, ATRenew reported GAAP net income of RMB 72.3 million (US$10.1 million), marking its fourth consecutive quarter of net GAAP profitability, compared to a net loss of RMB 10.7 million in the same period last year. Non-GAAP operating profit reached RMB 121.3 million (US$16.9 million).
ATRenew continued its strategic expansion, operating 2,092 AHS stores across 291 cities in China as of June 30, 2025. The company also provided optimistic guidance for the third quarter of 2025, expecting total revenues between RMB 5,050.0 million and RMB 5,150.0 million, representing a year-over-year increase of 24.7% to 27.1%. Additionally, the company repurchased approximately 1.6 million ADSs for US$4.0 million in Q2 2025, bringing total repurchases under its previous program to 12.3 million ADSs for US$31.1 million.
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