ATRenew (RERE) Emerging Growth Conference 72 summary

Financial performance and business growth

• Net revenues reached CNY 3.65 billion in Q1 2024, up 27.1% year-over-year, with product revenues at CNY 3.3 billion.

• Gross profit margin for product revenues improved to 10.9%, driven by compliant refurbishment business.

• Service revenues rose 15.1% year-over-year to CNY 341 million, supported by expanding marketplace transactions.

• Non-GAAP operating income grew over 80% year-over-year to CNY 80 million, marking the seventh consecutive profitable quarter.

• Total cash position stands at CNY 2.6 billion, supporting long-term growth.

Marketplace and operational expansion

• PJT marketplace serves over 680,000 registered users and continues rapid expansion.

• Overall marketplace take rate reached 5.4% and is expected to grow sustainably.

• Multi-category recycling business, including luxury goods and gold, achieved CNY 600 million GMV in Q1.

• 18% of luxury goods recyclers returned within 30 days to recycle other products, boosting core business.

Store network and consumer services

• Operates 711 self-operated stores in major Chinese cities, plus 557 joint-operated stores and 160 shop-in-shops.

• Physical presence now covers over 250 cities, enhancing accessibility for recycling services.

• Store staff provide data erasing, migration, and quality assurance services to consumers.