ATRenew Polishes Recycling Credentials To Record First Profit

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Key Takeaways: ATRenew’s revenue rose 30% in the fourth quarter, as its non-GAAP operating margin improved by 0.9 percentage points on growing efficiencies The company’s iPhone recycling collaboration with Apple generated an additional 300 million yuan in revenue during the fourth quarter By Doug Young There’s nothing like a first-ever profit to get investors excited, especially when you’re one of China’s few companies that continues to log strong growth despite the nation’s slowing economy. That was the bottom line for investors, who sharply boosted shares of ATRenew Inc. (NYSE:RERE) after the recycling specialist announced its first-ever quarterly net profit since...