ATRenew Q1 Revenues Jump 32.4% to RMB6.16 B; Net Income Surges 215.7%
ATRenew's first-quarter net revenues rose 32.4% year-on-year to RMB6,160.1 million, while net income surged 215.7% to RMB135.1 million. Adjusted operating income grew 70.2% to RMB190.5 million and the company processed 10.8 million units of consumer products, supported by higher self-operated sourcing and expanded refurbishing capacity.
1. Strong Top-Line and Profit Growth
In Q1 2026, ATRenew achieved 32.4% revenue growth to RMB6,160.1 million and improved income from operations by 154.9% to RMB185.3 million. Net income rose 215.7% to RMB135.1 million, while adjusted operating income grew 70.2% to RMB190.5 million.
2. Revenue Mix and Volume Performance
Net product revenues climbed 34.4% to RMB5,729.8 million as sales of pre-owned electronics scaled, and service revenues increased 10.4% to RMB430.3 million. The number of consumer products transacted rose to 10.8 million from 9.5 million in Q1 2025.
3. Expense Trends and Operating Leverage
Operating expenses increased 30.7% to RMB5,987.9 million, driven by higher merchandise costs (+33.2% to RMB4,816.8 million), fulfillment expenses (+22.5% to RMB524.0 million), and elevated selling, marketing, G&A and R&D spending. Economies of scale and improved sourcing efficiency supported margin expansion.