ATRenew Inc. Sponsored ADR (RERE) has released an update.
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ATRenew Inc., a major player in China’s pre-owned consumer electronics market, reported a strong 24.4% increase in third-quarter revenues, reaching RMB4,051.2 million. The company also achieved a significant turnaround, posting an income from operations of RMB24.9 million, highlighting successful cost optimization and enhanced profitability. Furthermore, ATRenew demonstrated commitment to shareholder value by repurchasing over US$12 million of its shares, while continuing to drive efficiency and sustainability in its operations.
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