ATRenew Inc. announced its unaudited financial results for the first quarter ended March 31, 2025, reporting total net revenues of RMB 4,653.5 million, a 27.5% increase year-over-year, surpassing the high end of its guidance range. The company achieved GAAP net income of CNY 42.8 million, a significant improvement from a net loss of CNY 92.86 million in the prior year, with basic earnings per share of CNY 0.18.
The strong revenue growth was primarily driven by the accelerated performance of its 1P business, with 1P product revenue growing 28.8% year-over-year. Excluding the high-base impact from Apple's official trade-in program and overseas business, product revenue increased by over 50% year-over-year. C2B consumer electronics recycling value also surged over 50% year-over-year, benefiting from national subsidies and increased demand from JD.com users.
ATRenew continued to expand its operational footprint, adding a net of 458 AHS stores year-over-year by the end of March 2025. The company's 1PtoC revenue grew by 73.5% year-over-year, with its proportion of 1P revenue increasing to 33%. Looking ahead, ATRenew provided guidance for the second quarter of 2025, expecting total revenues between RMB 4,710.0 million and RMB 4,810.0 million, representing a year-over-year increase of 24.7% to 27.4%.
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