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RERE - ATRenew Polishes Recycling Credentials To Record First Profit
AiHuiShou International Co. Ltd. American Depositary Shares (every three of which representing two Class A)
2024-03-19 13:30:00 ET
Summary
ATRenew’s revenue rose 30% in the fourth quarter, as its non-GAAP operating margin improved by 0.9 percentage points on growing efficiencies.
The company’s iPhone recycling collaboration with Apple generated an additional 300 million yuan in revenue during the fourth quarter.
Even after the big jump in its stock price, ATRenew’s shares still trade at a relatively low price-to-sales (P/S) ratio of 0.20.
The recycling specialist has been profitable on a non-GAAP basis for the last two years, but made its first GAAP net profit in last year’s fourth quarter. ...