ATRenew Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	21,048	16,328	12,966	9,869	7,780
Revenue Growth (YoY)	28.91%	25.94%	31.37%	26.85%	60.15%
Cost of Revenue	16,700	13,086	10,339	7,597	5,735
Gross Profit	4,348	3,242	2,627	2,273	2,045
Selling, General & Admin	3,690	3,056	2,641	2,890	2,702
Research & Development	243.91	210.36	195.68	227.81	264.56
Other Operating Expenses	-42.24	-53.43	-36.26	-41.24	-26.95
Operating Expenses	3,892	3,213	2,800	3,077	2,940
Operating Income	456.18	28.97	-173.34	-803.73	-895.07
Interest Expense	-6.04	-15.02	-7.06	-6.16	-16.78
Interest & Investment Income	20.5	26.86	37.88	17.78	8.37
Earnings From Equity Investments	-67.26	-64.66	-50.37	-6.47	-6.56
Other Non Operating Income (Expenses)	-10.34	-5.66	-1.11	87.41	-22.24
EBT Excluding Unusual Items	393.04	-29.51	-194.01	-711.18	-932.28
Impairment of Goodwill	-	-	-	-1,820	-
Gain (Loss) on Sale of Investments	-	-35.59	-4.77	-48.62	-28.13
Pretax Income	393.04	-65.11	-198.78	-2,580	-960.41
Income Tax Expense	56.75	-56.88	-42.53	-111.78	-143.86
Net Income	336.29	-8.23	-156.25	-2,468	-816.55
Preferred Dividends & Other Adjustments	-	-	-	-	508.63
Net Income to Common	336.29	-8.23	-156.25	-2,468	-1,325
Shares Outstanding (Basic)	242	242	243	244	144
Shares Outstanding (Diluted)	243	242	243	244	144
Shares Change (YoY)	0.36%	-0.33%	-0.40%	69.06%	412.74%
EPS (Basic)	1.39	-0.03	-0.64	-10.11	-9.17
EPS (Diluted)	1.38	-0.03	-0.64	-10.11	-9.17
Free Cash Flow	-	582.95	158.72	819.83	-1,092
Free Cash Flow Per Share	-	2.40	0.65	3.36	-7.56
Gross Margin	20.66%	19.86%	20.26%	23.03%	26.28%
Operating Margin	2.17%	0.18%	-1.34%	-8.14%	-11.50%
Profit Margin	1.60%	-0.05%	-1.21%	-25.01%	-17.03%
Free Cash Flow Margin	-	3.57%	1.22%	8.31%	-14.03%
EBITDA	723.24	296.03	160.39	-398.32	-521.33
EBITDA Margin	3.44%	1.81%	1.24%	-4.04%	-6.70%
D&A For EBITDA	267.06	267.06	333.73	405.41	373.75
EBIT	456.18	28.97	-173.34	-803.73	-895.07
EBIT Margin	2.17%	0.18%	-1.34%	-8.14%	-11.50%
Effective Tax Rate	14.44%	-	-	-	-
Advertising Expenses	-	122.48	124.66	82.92	82.34

Updated Mar 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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