ATRenew Inc. Reports Unaudited Third Quarter 2025 Financial Results
Financial Performance: ATRenew Inc. reported a 27.1% increase in total net revenues for Q3 2025, reaching RMB5,149.2 million (US$723.3 million), with a significant rise in income from operations by 385.1% year-on-year.
Operational Growth: The company transacted 10.9 million consumer products in Q3 2025, up from 9.1 million in the same period of 2024, reflecting strong demand in the pre-owned consumer electronics market.
Profitability Improvements: Adjusted income from operations rose by 34.9% year-on-year to RMB140.3 million (US$19.7 million), indicating enhanced operational efficiency and profitability metrics.
Future Outlook: ATRenew anticipates total revenues for Q4 2025 to be between RMB6,080.0 million and RMB6,180.0 million, projecting a year-over-year increase of 25.4% to 27.4%.
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Ternium's Credit Strength Transforms Cyclical Business into Durable Investment
- Credit Advantage: Ternium, as a leading steel producer in Latin America, showcases strong credit strength characterized by low leverage and ample liquidity, allowing it to invest during industry downturns and protect shareholder value.
- Value Investment: Ternium trades at earnings and cash flow multiples below normalized cycle peaks, reflecting persistent skepticism towards the steel industry, yet improved industry discipline lays the groundwork for future growth.
- Momentum Recovery: With stabilized pricing and recovered volumes, Ternium's stock is firmly in an intermediate and long-term uptrend, indicating increasing market recognition of its value.
- Market Positioning: Ternium's geographic exposure in Mexico and South America enables it to effectively meet infrastructure, automotive, and industrial demand, further solidifying its market leadership.
ATRenew, the Recycler, Aims for Global Growth
Company Growth and Revenue: ATRenew reported a 27% revenue increase in Q3, achieving record profits and improved gross margins, driven by strong direct-to-consumer sales and a growing awareness of its recycling services.
International Expansion Plans: The company has begun exporting Chinese devices and aims to enhance its global presence over the next two to three years, leveraging its established recycling capabilities and partnerships.
Three-Stage Development Strategy: ATRenew's strategy includes strengthening core capabilities, expanding its fulfillment team, and positioning its AHS Recycle brand as a leader in the recycling sector, while balancing new store openings with service team growth.
Diverse Product Offerings: The company is diversifying its product range beyond electronics to include items like luxury bags and vintage liquors, with its multi-category business experiencing significant growth, although it still represents a small portion of total revenue.
