* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, May 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

ATRenew Extends Quarterly Profit Streak as Diversification Push Gains Stream

May 23, 2024
in Technology
ATRenew Extends Quarterly Profit Streak as Diversification Push Gains Stream
Share on FacebookShare on Twitter

Chinese pre-owned electronics recycling and trading major ATRenew on Monday extended its quarterly profit for the seventh straight quarter as it gets a tailwind from a nationwide consumer goods trade-in program while its effort to branch out into non-electronics gathers steam.

The operator of China’s top pre-owned consumer electronics transactions and services platform recorded 80.22 million yuan ($11.09 million) in adjusted operating profit in the first quarter, an 80.8 percent jump from a year earlier, according to a filing with the New York Stock Exchange. Its first-quarter revenue grew up 27.1 percent to 3.65 billion yuan, meeting the top end of its guidance.

This brings its operating profit streak to the seventh consecutive quarter on a non-GAAP basis adjusting for spending on employee share incentives, the amortization of intangible assets and deferred costs from acquisitions.

Buoyed by the government-backed trade-in campaign, the company saw the amount of recycled items for trade-ins via online retailer JD.com increase 43 percent on year over the past quarter. ATRenew is JD.com’s exclusive supply chain partner for recycling preowned consumer electronics and facilitating the replacement.

China’s state planner said on Tuesday that 27 localities including the capital city of Beijing have rolled out action plans for equipment upgrades and consumer goods replacement, issuing incentives such as trade-in subsidies and consumption coupons.

As the old-for-new initiative is turning into an important enabler for boosting domestic demand, users have shown growing enthusiasm toward getting involved in the initiative, said Kerry Xuefeng Chen, founder and chairman of ATRenew. He vowed stepped-up efforts to ride the wave of China’s transition toward a circular economy in which recycling and other strategies would be employed to enable sustainable use of natural resources.

Along with the popularity of a low-carbon lifestyle, demand for cost-effective used items has been on the rise. ATRenew’s self-operated business through consumer-oriented retail channels including Paipai on JD.com, live streaming platforms, AHS stores, and official websites registered an over 80 percent gain in sales over the first quarter.

Adding to its expertise in recycling used electronics, the mainstay of ATRenew, a shift toward non-electronics was shown to have gained momentum.

Since ATRenew’s multi-category strategy came on stream in 2022, the platform operator has maintained impressive growth in the amount of recycled non-electronics. Its recycling portfolio has been broadened to include second-hand bags, wristwatches, gold, famed liquor, shoes, and clothing, thanks to its vast network of brick-and-mortar outlets.

SEE ALSO: ATRenew Posts Record Profit as Quality Control Automation Push Drives Efficiency

For the first quarter, the transaction value of its multi-category recycling business amounted to 600 million yuan, quadrupling that for the same period of 2023. In a sign of high user stickiness, 18 percent of the users who have opted for the platform to recycle luxury items completed recycling other stuff within 30 days, per the company.

As measured by user satisfaction, gold recycling, known for transparent prices and reliable transactions, sat atop the platform’s net promoter score rankings.

Additionally, the company booked 280 million yuan in its compliant refurbishing business, accounting for a bigger part of its quarterly revenue.

Its growing focus on automation also proves efficient in lowering expenses. As its automated operation center in Dongguan, a manufacturing hub in South China’s Guangdong Province, becomes in fuller swing, the company’s fulfillment costs as a percentage of operating income by non-GAAP measurement fell 0.8 percentage points year-on-year to 8.3 percent in the first quarter, read ATRenew’s disclosure.

The synergy of revenue magnification and cost control efficiency has apparently resulted in improved profitability.

The company’s adjusted operating profit margin stood at 2.2 percent for the first quarter, up 70 basis points from the year-ago period, according to Chen Chen, chief financial officer of ATRenew.

Sign up today for 5 free articles monthly!

Pandaily Substack subscribe

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Pandaily – https://pandaily.com/atrenew-extends-quarterly-profit-streak-as-diversification-push-gains-stream/

Tags: ATRenewextendstechnology
Previous Post

HiPhi Undergoes Restructuring, Set to Receive $1 Billion Investment”

Next Post

Joe Budden Seemingly Denies Dissing Rory & Mal On Drake “Family Matters” Freestyle

What’s in your backyard? Public invited to test soil samples for toxics – Department of Ecology – State of Washington (.gov)

Discover What’s Lurking in Your Backyard: Join Us for a Soil Testing Event!

May 10, 2025
Scientists develop next-gen energy storage technologies that enable high power and capacity simultaneously – Tech Xplore

Revolutionary Energy Storage Technologies Set to Transform Power and Capacity!

May 10, 2025
Psychic Medium explores afterlife through science and psychic insight – MSN

Unlocking the Afterlife: A Psychic Medium’s Journey Through Science and Spiritual Insight

May 10, 2025

Unhealthy Habits May Accelerate Heart Aging: What You Need to Know!

May 10, 2025
Trump ramps up plans for 2026 World Cup amid friction with neighbors: ‘Tensions are a good thing’ – Politico

Trump Intensifies 2026 World Cup Ambitions Despite Neighborly Tensions: ‘Conflict Can Be Beneficial

May 10, 2025
The NSF Is Being Dismantled — With Broad Implications For The American Economy – Forbes

Unraveling the NSF: What Its Dismantling Means for the Future of the American Economy

May 10, 2025
SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

May 10, 2025
New committee launches for female health and safety – IAFF

New committee launches for female health and safety – IAFF

May 9, 2025
How smart people fall for conspiracy theories – CNN

Unraveling the Paradox: Why Intelligent Minds Are Drawn to Conspiracy Theories

May 9, 2025
Artificial intelligence (AI) – The Guardian

Unlocking the Future: How Artificial Intelligence is Transforming Our World

May 9, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (596)
  • Economy (607)
  • Entertainment (21,520)
  • General (15,210)
  • Health (9,649)
  • Lifestyle (612)
  • News (22,149)
  • People (610)
  • Politics (614)
  • Science (15,829)
  • Sports (21,117)
  • Technology (15,597)
  • World (597)

Recent News

What’s in your backyard? Public invited to test soil samples for toxics – Department of Ecology – State of Washington (.gov)

Discover What’s Lurking in Your Backyard: Join Us for a Soil Testing Event!

May 10, 2025
Scientists develop next-gen energy storage technologies that enable high power and capacity simultaneously – Tech Xplore

Revolutionary Energy Storage Technologies Set to Transform Power and Capacity!

May 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version