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RERE - With Profitability In Sight Smartphone Recycler ATRenew Goes Local
AiHuiShou International Co. Ltd. American Depositary Shares (every three of which representing two Class A)
Recycling specialist ATRenew is aiming for more than 100 billion yuan in GMV by 2025, roughly tripling from this year’s level.
Company said it expects to become profitable on a non-GAAP basis next year.
ATRenew began trialing the model in the cities of Langfang in Hebei province and Huzhou in Zhejiang province earlier this year, and is aiming to expand that to 50 cities next year and 100 cities over the next three to four years.