ATRenew to Report Fourth Quarter and Full Year 2025 Financial Results on March 11, 2026 [Accessibility Statement] Skip NavigationSHANGHAI, Feb. 25, 2026 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the "Company") (NYSE: RERE), a pioneer in the technology-driven trade-in solutions and circular economy for consumer products in China, today announced that it plans to release its unaudited financial results for the fourth quarter and full year of 2025 before the U.S. market opens on Wednesday, March 11, 2026.The ...

Core Viewpoint - The stock prices of several companies, including Lufax Holdings, Wanwu Xingsheng, Noah Wealth, JinkoSolar, and Trip.com, have experienced declines, indicating a negative trend in the market for these firms [1] Company Performance - Lufax Holdings saw a decline of 3.28% in its stock price [1] - Wanwu Xingsheng's stock dropped by 2.99% [1] - Noah Wealth experienced a decrease of 2.68% [1] - JinkoSolar's stock fell by 2.41% [1] - Trip.com reported a decline of 2.26% [1]

Core Insights - The article discusses the process and considerations involved in selling second-hand gold, emphasizing the importance of understanding market prices and the potential pitfalls in the selling process. Group 1: Understanding Gold Recovery - The only reliable price reference for gold recovery is the real-time gold price from the Shanghai Gold Exchange, which is updated twice daily [9] - Service fees for gold recovery vary between gold bars and gold jewelry, with jewelry typically incurring higher fees due to additional processing requirements [10][11] - Transparent testing and pricing are crucial; legitimate recovery processes require melting and re-testing the gold to determine its purity, rather than relying on visual assessments [12][13] Group 2: Comparison of Recovery Options - The first option, a local gold shop, offered a quick but informal transaction with no written documentation or formal testing, relying solely on the owner's verbal assessment [17][18] - The second option, a second-hand trading platform, provided a smooth online process but raised concerns about service fees and the lack of physical verification [20][24] - The third option, a company named "爱回收," demonstrated a comprehensive recovery process with clear pricing, real-time gold price references, and a transparent testing procedure, making it a more reliable choice [27][30][38] Group 3: Recommendations for Selling Gold - It is advised to prioritize "post-melting pricing" and avoid sellers who refuse to perform melting tests or provide vague assessments [40] - Understanding the service fee structure is essential; lower fees may indicate a lower gold price offered [40] - Choosing platforms with national qualifications and regulatory oversight, such as those listed on the New York Stock Exchange, can provide additional security in transactions [43]

Group 1 - Lexin increased by 8.72% [1] - Niu Technologies rose by 6.76% [1] - Wanwu Xingsheng gained 5.97% [1] - Century Internet climbed by 5.80% [1] - Daqo New Energy saw an increase of 5.64% [1]

Core Insights - ATRenew Inc. is positioned as a leading technology-driven platform for pre-owned consumer electronics in China, actively participating in global discussions on circular economy infrastructure [1][5] Group 1: Company Overview - ATRenew operates a comprehensive platform for pre-owned consumer electronics transactions and services, integrating C2B, B2B, and B2C capabilities since its inception in 2011 [6] - The company focuses on recycling and trade-in services to address environmental impacts, aiming to prolong the lifecycle of consumer electronics [6] Group 2: Industry Participation - ATRenew was the sole representative from China at the Circular Markets London event, which focused on global circular economy practices [1] - The event facilitated discussions among industry leaders on market dynamics, recycling value chains, and cross-border opportunities [2] Group 3: Market Dynamics - Mr. Jeremy Ji, ATRenew's Head of Corporate Strategy, highlighted the differences between China's pre-owned electronics market and those in North America and Europe, noting China's open market structure [3] - The company has developed automated operational infrastructure to standardize non-standard assets into a compliant global supply chain, addressing unique market conditions [4] Group 4: Strategic Vision - ATRenew aims to connect China's large device market with international demand for quality pre-owned products, leveraging its open market structure and growing trade-in participation [5] - The company seeks to align local sourcing advantages with international standards to enhance its competitiveness in the global circular market [5]

Core Viewpoint - Chinese concept stocks collectively strengthened, with the Nasdaq China Golden Dragon Index rising nearly 2% [1] Group 1: Stock Performance - Zenggu and Bomei Group surged over 9% [1] - NIO and New Oxygen increased by more than 8% [1] - Li Auto, Century Internet, Aihuishou, and Hesai rose over 4% [1] - GDS Holdings, Kingsoft Cloud, Baozun, and Huya gained over 3% [1] - Pony.ai, XPeng Motors, Baidu, and Bilibili climbed over 2% [1] - Alibaba, NetEase, and JD.com saw an increase of over 1% [1]

Group 1 - Kingsoft Cloud experienced a decline of 7.81% [1] - GDS Holdings saw a drop of 6.95% [1] - Bilibili fell by 6.63% [1] - Neng Chain Intelligent Electric decreased by 5.64% [1] - Wanwu Xingsheng dropped by 5.63% [1]

Investment Rating - The report maintains an "Overweight" rating for the consumer discretionary sector [7] Core Insights - The "Work Plan" issued by the State Council aims to stimulate domestic demand by fostering new growth points in service consumption, focusing on six key areas including transportation, housekeeping, and online audiovisual services, as well as three potential areas: performance services, sports events, and emotional experience services [1][2] - The report emphasizes that service consumption is a natural direction for consumption upgrading and the pursuit of a better life by residents, with significant long-term potential in China as service consumption typically increases with GDP growth [1] - The report suggests that the recovery of service consumption will help shift traffic from online to offline, benefiting related industries such as dining, tourism, and retail [1] Summary by Sections Service Consumption Growth - The "Work Plan" includes twelve specific measures to enhance service consumption, with a focus on optimizing supply and encouraging innovative consumption scenarios [2][4] - The report highlights the importance of developing high-quality supply and encourages proactive exploration of new business models in the service sector [4] Transportation and Tourism Integration - The "Work Plan" proposes initiatives such as developing senior tourism trains and enhancing the quality of cruise and night tour services, which are expected to benefit related sectors [3] - The report notes that the integration of transportation and tourism, along with the emergence of quality tourism supply, will lead to an upturn in specific tourism segments [3] Investment Recommendations - The report recommends focusing on leading companies in the consumer sector, including: - Travel Chain: Recommended companies include Atour, Huazhu Group, Shoulv Hotel, and China Duty Free [5] - Ready-to-Drink Beverages and Dining: Recommended companies include Guming, Yum China, Yihai International, Dashihua, Chabaidao, Xiaocaiyuan, and Haidilao [5] - Emotional Consumption: Recommended companies include Pop Mart, Laopu Gold, Blukoo, Miniso, Shangmei, Maogeping, and Juzibio [5] - Scenario Chains: Recommended companies include Guoquan, Wancheng Group, Wanwu Xingsheng, and Shengbeila [5] - Sports Apparel: Recommended companies include Anta, Amer Sports, and Li Ning [5] Key Company Insights - Pop Mart has initiated share buybacks, reflecting confidence in growth prospects, and is expected to accelerate the diversification of its IP structure [12] - Laopu Gold is anticipated to perform well during the upcoming Spring Festival, with expectations of exceeding sales forecasts due to ongoing brand expansion and strong market demand [12] - Miniso's recent performance has exceeded guidance, driven by a successful large store strategy and improved operational efficiency [12]

本文源自：金融界AI电报 新东方涨5.22%，海天网络涨5.14%，万物新生涨4.99%，贝壳涨4.20%，复朗集团涨4.12%。 ...

Summary of the Conference Call for 万物新生 Company Overview - **Company**: 万物新生 - **Industry**: E-commerce and second-hand electronics Key Points Financial Performance - Total revenue for Q3 2026 reached 5.15 billion RMB, a year-on-year increase of 27% [3] - EP business product revenue grew over 28%, contributing significantly to overall revenue [3] - Non-GAAP operating profit margin improved to 2.7% [3] - The company plans to allocate 60% or more of non-GAAP net profit for dividends or buybacks from 2025 to 2027 [3] Business Model and Revenue Structure - ET to C (direct-to-consumer) business increased to 36%, with a target of 50% [2][4] - The gross margin for retailing quality second-hand goods is approximately 6% higher than TOB models [2] - Platform business maintained double-digit growth, with significant increases in 拍拍堂 and 拍拍交易 [2][4] - The commission rate for platform services has been reduced to around 6% [2][4] Market Trends and Policies - The old-for-new subsidy policy indirectly benefits the company by promoting new device sales, leading to more quality recycling sources [6][7] - The rise in storage costs has led to price increases for new Android devices, making second-hand Apple and Huawei phones more competitively priced [8][9] Competitive Advantages - The company's core competitive advantage lies in its 1P model, providing a convenient transaction experience across C-end recycling, B2B platform transactions, and B2C retail [2][13] - The company differentiates itself from C2C models like 闲鱼 by offering a closed-loop industry chain [13] Future Growth Targets - The company aims for a revenue growth of 25% in 2026, with a non-GAAP operating profit margin target of 3.1% [2][14] - Net profit is expected to grow by over 50% [14] - Plans to open 5,000 stores by 2027, focusing on both self-operated and franchise models [16] Product and Service Innovations - Exploring new business models, including exporting unique iPhone versions and enhancing recycling penetration [15] - Plans to improve the efficiency of quality inspection through automation, potentially reducing fulfillment costs by 1.5% [20][19] Marketing and Sales Strategy - Marketing expenses are expected to be flexible, with a focus on brand promotion through new media channels [21] - A budget of 250 million RMB is allocated for new media marketing in 2025 [21] Industry Dynamics - The gold recovery service has seen significant growth, with over 80% of transactions involving gold [5][24] - The platform's user base is expected to grow from 1.37 million to around 1.6 million by year-end [25] Revenue Channels - 京东 accounts for approximately 45% of EP business revenue, benefiting from government subsidies and user engagement [23] - The take rate for platform services remains stable at around 6% [26] Conclusion - The company is well-positioned for growth with a clear strategy to enhance its business model, improve operational efficiency, and capitalize on market trends in the second-hand electronics industry.