ATRENEW INC Reports Earnings Results for Q2 of FY2023
August 25, 2023
🌥️Earnings Overview
Atrenew Inc ($NYSE:RERE) released their financial results for Q2 of the 2023 fiscal year on August 23rd, 2023. The company experienced a 38.1% growth in total revenue for the quarter ending June 30th, 2023, rising to CNY 2963.7 million compared to the same period last year. Net income for this quarter was CNY -64.8 million, an improvement from -125.2 million in the previous year.
Market Price
The stock opened at $2.5 but closed at $2.3, a decrease of 1.7%, compared to its previous closing price of $2.3. ATRENEW INC‘s management attributed the strong financial performance to their investments in new technologies and products, as well as their focus on customer service. This will allow investors to benefit from the company’s successful performance and continued growth. Overall, ATRENEW INC appears to be in a strong position for the fiscal year 2023, and its shareholders are sure to reap the rewards of their investments in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Atrenew Inc. More…
| Total Revenues | Net Income | Net Margin |
| 11.35k | -2.3k | -4.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Atrenew Inc. More…
| Operations | Investing | Financing |
| 881.3 | -516.68 | -186.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Atrenew Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.01k | 1.23k | 17.22 |
Key Ratios Snapshot
Some of the financial key ratios for Atrenew Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 35.9% | – | -21.0% |
| FCF Margin | ROE | ROA |
| 7.2% | -38.3% | -29.7% |
Analysis
At GoodWhale, we strive to offer our users the most comprehensive financial and business analysis. We have conducted a thorough analysis of ATRENEW INC’s financials and we are pleased to share our findings with you. Based on our Risk Rating analysis, ATRENEW INC is a medium risk investment in terms of both financial and business aspects. However, we have identified a few risk warnings in the company’s balance sheet, cashflow statement, and financial journal. These risk warnings require further investigation before any decisions can be made about investing with the company. If you would like to access details about these risk warnings, sign up as a registered user on GoodWhale to receive full access to our analysis. More…
Peers
The company competes in the global renewable energy market with such companies as Jeffs Brands Ltd, Ceconomy AG, and Alibaba Group Holding Ltd. All of these companies are dedicated to providing innovative renewable energy solutions to their customers and are committed to making a positive impact on the environment.
– Jeffs Brands Ltd ($NASDAQ:JFBR)
Jeffs Brands Ltd is a consumer food and beverage company with products ranging from condiments to snacks. Its market capitalization as of 2023 is 5.87M, which is indicative of the company’s size and potential. The Return on Equity (ROE) of -103.49% is concerning, however, as the measure suggests the company is not efficiently utilizing its shareholders’ investments. This could be due to a number of factors such as high debt or poor management decisions. Therefore, investors should be aware of the company’s financials and risk level before investing.
– Ceconomy AG ($BER:CEC)
Ceconomy AG is a German consumer electronics company that operates across Europe with a focus on sales, service, and consultancy for consumer electronics, IT, and telecommunications products. As of 2023, the company has a market cap of 1.12B, making it a mid-sized business in this sector. The company also has a strong return on equity of 18.97%, which is indicative of its financial strength and stability. Ceconomy AG is well-positioned to continue growing in the future.
– Alibaba Group Holding Ltd ($SEHK:09988)
Alibaba Group Holding Ltd is a Chinese multinational technology company specializing in e-commerce, retail, internet, and technology services. With a market cap of 1.77T as of 2023, the company is one of the world’s largest and most valuable companies. Furthermore, Alibaba’s Return on Equity (ROE) of 5.65% provides investors with an indication of the company’s profitability and its ability to generate returns for its shareholders. The company has proven itself to be a leader in the tech space, serving millions of customers each day through its various products and services.
Summary
ATRENEW INC reported strong second quarter FY2023 earnings, with total revenue increasing by 38.1% year-over-year to CNY 2963.7 million. This is a positive sign for investors in ATRENEW INC, as it highlights the potential for increased returns in future quarters. Investment analysts will be looking to see if ATRENEW can continue its growth trajectory, and should be monitoring company performance closely.
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