)

ATRenew (RERE) investor relations material
ATRenew Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Total net revenues for Q2 2025 rose 32.2% year-over-year to RMB4,991.5 million, surpassing guidance, with 1H25 revenues at RMB9,644.9 million, up 29.8% year-over-year.
Net product revenues grew 34% to RMB4,558.7 million, and net service revenues increased 15.4% to RMB432.8 million.
Net income reached RMB72.3 million, reversing a net loss in Q2 2024; adjusted income from operations (non-GAAP) was RMB121.3 million, up from RMB94.1 million year-over-year.
10.3 million consumer products were transacted, up 22.6% year-over-year, driven mainly by 1P business growth.
Store network expanded to 2,092 AHS stores in 291 cities as of June 30, 2025, with a net increase of 576 stores year-over-year.
Financial highlights
Non-GAAP operating profit margin was 2.4%, stable year-over-year; GAAP operating margin for Q2 2025 was 1.8%, up 197 bps year-over-year.
Gross profit margin for 1P business improved to 13.2% from 12.1% year-over-year.
Fulfillment expenses as a percentage of revenue declined to 8.2% from 8.5% year-over-year.
Cash and equivalents, restricted cash, short-term investments, and funds receivable totaled RMB2.35 billion as of June 30, 2025.
Repurchased 12.3 million ADSs for US$31.1 million during FY24 and 1H25.
Outlook and guidance
Q3 2025 revenue guidance set at RMB5,050–5,150 million, representing 24.7%–27.1% year-over-year growth.
Confident in meeting full-year operational objectives and revenue growth targets for the second half.
Focus on expanding high-value scenarios, user-centric strategies, and long-term capacity building.
Continued investment in technology and automation to improve cost efficiency and inspection accuracy.
Expect scale effects to gradually improve operating profit margins starting next year.
Next ATRenew earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage