{
  "id": 3749117,
  "title": "ATRenew (RERE): Secondhand Tech Giant Quietly Posting Record Profits",
  "url": "https://urgent.news/2026/08/27/atrenew-rere-secondhand-tech-giant-quietly-posting-record-profits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T13:46:27.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/atrenew-rere-secondhand-tech-giant-134627979.html"
  },
  "original_language": "en",
  "account": "On August 20, ATRenew (NYSE: RERE) disclosed second-quarter earnings surpassing expectations, with revenue increasing 32.4% year-over-year to RMB 6.6 billion. Net income surged 78.6% to RMB 129.1 million. The company continued purchasing shares while expanding into new markets. The growth stems from ATRenew's 1P model, which involves buying, refurbishing, and reselling devices directly. Net product revenue rose 35.9% to RMB 6.2 billion, and the company handled 11.6 million consumer products, up from 10.3 million a year earlier. Gross margin in the 1P business improved to 15.7% from 13.2% a year ago, and the curated resale of phones and computers rose 92.4%, now accounting for 48.8% of product revenue. Revenue from refurbished products alone grew 87.8%. Luxury recycling revenue jumped 77.3% after upgrading select stores, and the B2B marketplace, PJT, grew its merchant base to 2.2 million and increased inspection penetration to 84.4%. Overseas, the company reached HKD 120 million in monthly export sales in June and is developing FoneSquare and ReRe brands in Hong Kong, Dubai, and Miami. However, not all aspects of the business performed equally. Net service revenue declined 4.2% to RMB 414.6 million due to discounts given to merchants during a promotional push. Gold recycling revenue dropped 35%, as gold prices declined and the company opted to increase payouts to users instead of protecting its own profits. Costs are rising, with fulfillment expenses increasing 31.1% to RMB 540 million due to hiring more door-to-door recycling teams. The company has also reduced its physical footprint, closing underperforming AHS stores to 2,117 locations. Management cautioned that expectations for Apple's next iPhone lineup could shift device volume to the fourth quarter and early next year. Guidance suggests a slower pace ahead, with third-quarter revenue expected to be between RMB 6.3 billion and RMB 6.4 billion, a 23.1% to 25.1% growth rate from the 32.4% growth this quarter. Only 20 hedge funds held ATRenew heading into the quarter, down from 21, and short interest is low at 1.3% of float. Despite the impressive growth, shares trade at a multiple of 9.85 times forward earnings, which may appear more cautious given the recent income growth.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}