ATRenew: 2025 Was Just The Beginning Of A Turnaround

ATRenew delivered robust Q4 2025 results, with revenue up 29% YoY and significant margin expansion. ATRenew's aggressive AHS store expansion and multi-category recycling, especially gold, are driving growth and higher margins. Favorable macro tailwinds, including rising smartphone prices and Chinese trade-in subsidies, position ATRenew for accelerated growth in 2026.