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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
ATRenew
ATRenew (RERE) investor relations material
ATRenew Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary20 Aug, 2026
Executive summary
Total net revenues for Q2 2026 reached CNY 6.61 billion (RMB 6,609.3 million), up 32.4% year-over-year, exceeding guidance and driven by strong pre-owned electronics sales.
Non-GAAP operating profit grew 70.1% year-over-year to CNY 210 million (RMB 206.3 million), with margin expanding to 3.1%.
GAAP net income for Q2 2026 was RMB 129.1 million, up 78.6% year-over-year; non-GAAP net income was RMB 157.1 million, up 57.3%.
11.6 million consumer products transacted, up 12.6% year-over-year, mainly driven by 1P transactions.
Share repurchase program extended for 12 months from June 30, 2026, with 3.3 million ADSs repurchased for US$14.8 million to date.
Financial highlights
Net product revenues increased 35.9% year-over-year to CNY 6.19 billion (RMB 6,194.7 million), mainly from online pre-owned electronics sales.
Net service revenues declined 4.2% year-over-year to CNY 410 million (RMB 414.6 million), impacted by merchant subsidies and promotional discounts.
Merchandise costs rose 31.9% to CNY 5.22 billion (RMB 5,219.2 million); 1P gross margin improved to 15.7% from 13.2% year-over-year.
Non-GAAP fulfillment expenses increased 30.5% to CNY 530 million, but as a percentage of revenue, decreased to 8.1%.
Cash, equivalents, restricted cash, short-term investments, and funds receivable totaled CNY 2.16 billion (RMB 2,157.2 million) as of June 30, 2026.
Outlook and guidance
Q3 2026 revenue guidance set at CNY 6.34–6.44 billion (RMB 6,340.0–6,440.0 million), up 23.1%–25.1% year-over-year, factoring in new flagship smartphone launches.
Expectation to maintain strong growth in both revenue and profit for the full year, with continued margin improvement.
Total net revenues exceeded the high end of guidance for the quarter, indicating strong business momentum.
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Latest events from ATRenew
- FY23 revenue rose 31.4%, with adjusted operating income of RMB251.7 million.RERE
Q4 2023 - Strong growth in secondhand electronics, retail expansion, and automation drive margin gains.REREEmerging Growth Conference
- Secondhand electronics leader grows 29%, expands globally, and boosts shareholder returns.RERESidoti Small-Cap Virtual Investor Conference
- Net revenues rose 32.4% and net income surged 215.7% year-over-year, with strong Q2 guidance.REREQ1 2026
- Record 2025 revenue and profit, new buyback and dividend, and strong 2026 outlook.REREQ4 2025
- Revenue up 32.2% year-over-year, net income positive, and new shareholder return plan launched.REREQ2 2025
- Q3 revenue up 24.4% with first GAAP operating profit and robust multi-category recycling growth.REREQ3 2024
- Q2 revenue up 27.4% year-over-year, with record profitability and strong new category growth.REREQ2 2024
- Q1 2024 saw 27.1% revenue growth, expanding recycling, and a broader store network.REREEmerging Growth Conference 72
Next ATRenew earnings date
Q3 202619 Nov, 2026
ATRenew
Next ATRenew earnings date
Q3 202619 Nov, 2026
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Frequently asked questions
ATRenew Inc. operates as a pre-owned consumer electronics transactions and services platform based in China. The company primarily deals with the recycling and resale of electronic products such as mobile phones, laptops, tablets, and digital cameras. ATRenew's business model includes purchasing used electronic devices from consumers and businesses, inspecting, grading, and pricing these items, and then reselling them through both online and offline channels. The company also offers online marketplaces for merchants to sell their products, charging commissions on these transactions. It is headquartered in Shanghai, and its shares are listed on the NYSE.