ATRenew (RERE) reported fourth quarter net income of RMB 77.4 million, compared to RMB 2.8 million, a year ago. Net income per ordinary share was RMB 0.48, compared to RMB 0.02. Adjusted net income was RMB 122.9 million, an increase of 35.1%. Adjusted net income per ordinary share was RMB 0.76 compared to RMB 0.57.
Total net revenues grew by 25.2% to RMB 4.85 billion. Net product revenues increased by 26.6% to RMB 4.46 billion.
For the first quarter, the company currently expects total revenues to be between RMB 4.55 billion and RMB 4.65 billion, an increase of 24.6% to 27.4% year-over-year.
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