AtRenew had a huge growth in Q1 2022, with successful increases in numbers of several sections listed in the Financial Report for this quarter. ATRenew's future plan showed its differences compared with others and implied its high potential to grow in the future.
ATRenew (RERE: NYSE), also known as Aihuishou, is a consumer electronics transactions and services platform in China. On May 24, 2025, it announced its unaudited financial report of Q1 2022. From the report, ATRenew gained a net revenue of CNY 2.2 billion, up 45.7% year-over-year compared with CNY 1.5 billion in Q1 2021. The loss from operation was CNY 134.8 million, up 21% year-over-year compared with CNY 111.4 million in Q1 2021. The non-GAAP adjusted income from operations was CNY 3.9 million. Compared with the adjusted loss from operations of CNY 33.6 million in Q1 2021, ATRenew successfully well-functioned in Q1 2022.
The number of consumer products transacted in Q1 2022 was 8.4 million, up 31.3% compared with 6.4 million in Q1 2021. The revenue for the service section was up 46% year-over-year to reach CNY 297.6 million. ATRenew concluded the reasons for the increase in the number of consumer products and net revenue to be attributed to the increase in purchases and sales of second-hand consumer electronic products.
The total gross merchandise was CNY 9.4 billion, up 51.6% compared with CNY 6.2 billion in Q1 2021. In detail, the section of product sales was CNY 2.2 billion, up 57.1% year-over-year. The section for online marketplaces was CNY 7.2 billion, up 50% year-over-year. The high growth in the GME implied ATRenew's success in these sections.
Even though in this quarter, ATRenew might be hugely influenced by the COVID-19, ATRenew maintained its growth by opening offline stores. By the end of Q1 2022, the number of small warehouses has increased to 116 units. The number of national stores has increased to 1446 stores, with a coverage area of 214 cities.
ATRenew, in the future, would optimize and classify its stores and services, due to the macro uncertainty in China at present. Its CEO Mr. Chen mentioned that they would prioritize its operation efficiency and continue expanding more stores with caution. With additional consideration in the company’s direction, ATRenew showed its potential for high growth in the future.