Q1 2025 ATRenew Inc Earnings Call Transcript
Key Points
- Total net revenues for the first quarter exceeded the high end of guidance, increasing 27.5% year over year to RMB4,653.5 million.
- Non-GAAP property income increased by 39.5% year over year to over RMB110 million, with a non-GAAP operating margin reaching 2.4%.
- 1P business revenue grew by 28.8% year over year, with product revenue increasing by over 50%.
- The strategic partnership with JD.com has strengthened, improving the trade-in supply chain and user experience.
- The number of registered merchants in PJT exceeded 1 million, with a double-digit year over year increase in active trading merchants.
- Fulfillment expenses increased by 38.1% to RMB430 million, with non-GAAP fulfillment expenses rising by 40.2%.
- Selling and marketing expenses increased by 30.4% to RMB420 million, with non-GAAP selling and marketing expenses rising by 72.8%.
- Revenue from Apple's official trading business declined year over year due to high base effects from previous pricing strategies.
- The non-GAAP fulfillment expense ratio rose by 0.9% year over year due to increased staff and operational costs.
- Non-GAAP selling expenses ratio increased by 2.2%, driven by higher promotion and advertising expenses.
Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to ATRenew Inc's first quarter 2025 earnings conference call. (Operator Instructions) I will now turn the call over to the first speaker today, Mr. Jeremy Ji, Director of Corporate Development and Investor Relations of the Company. Please go ahead, sir.
Thank you. Hello everyone, and welcome to ATRenew first quarter 2025 earnings conference call. Speaking first today is Kerry Chen, our Founder, Chairman and CEO, and he will be followed by Rex Chen, our CFO. After that, we'll open the call to questions from analysts.
The first quarter 2025 financial results were released early today. The earnings press release and investors slides accompanying this call are now available at our website ar.new dotcom. There will also be a transcript following this call for your convenience.
For today's agenda, Kerry will share his thoughts of our quarterly performance and business strategy,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
