ATRenew Inc. Sponsored ADR (RERE) has released an update.
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ATRenew Inc., a leading Chinese platform for pre-owned consumer electronics, reported a 27.1% increase in net revenues for Q1 2024 compared to Q1 2023, and a reduced loss from operations. The company’s adjusted income from operations showed a significant year-over-year improvement, reflecting sustained progress on the path to profitability. ATRenew attributes its growth to robust developments in both retail and recycling service businesses, supported by China’s national initiatives promoting domestic demand through large-scale trade-ins of consumer products.
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