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RERE - ATRenew Starts The Year Off Strong Braces For Covid Impact
AiHuiShou International Co. Ltd. American Depositary Shares (every three of which representing two Class A)
ATRenew‘s revenue rose 45.7% in the first quarter to 2.2 billion yuan as both product and service revenues recorded strong gains.
Company could benefit over the longer term from the rollout of China’s first guidelines for used electronics refurbishment by the city of Shenzhen in April.
Despite all the headwinds, ATRenew actually looks relatively competitive compared with global recycling peers in terms of valuation.