ATRenew Digs Closer to Profits With City-Level Recycling Drive

Company posted its first quarterly non-GAAP operating profits since going public, but its shares still fell amid broader investor concerns about U.S.-listed Chinese stocks Key Takeaways: ATRenew reported its revenue rose 48.2% in last year’s fourth quarter, as it posted its first quarterly non-GAAP operating profit since listing in the U.S. last year Company is boosting efficiency by doing more recycling at the city level, with a pilot localization program begun in two cities early last year now expanded to 22 cities By Doug Young Electronics recycling specialist ATRenew (RERE.US)…

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With Profitability in Sight, Smartphone Recycler ATRenew Goes Local

Company targets tripling of gross merchandise volume over the next four years as it aggressively expands a new city-based recycling model Recycling specialist ATRenew is aiming for more than 100 billion yuan in GMV by 2025, roughly tripling from this year’s level Company said it expects to become profitable on a non-GAAP basis next year By Doug Young Hold on to your hats. Electronics recycling specialist ATRenew Inc. (RERE.US), until recently known as AiHuiShou, is telling the world it’s aiming to sharply boost the gross merchandise value (GMV) of used…

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21Vianet Looks for New Chapter With Name Change

Shareholders approve VNET Group as company’s new name, marking latest adjustment in year of change for data center laggard Key takeaways 21Vianet’s shareholders have approved changing its name to VNET Group Move marks the latest change for the company, following arrival of new CFO in April and recent departure of its COO By Doug Young With all the turbulence in U.S.-China relations, 2021 could well go down as the year of the name change for U.S.-listed Chinese companies. Data center stalwart 21Vianet Group Inc. (VNET.US) has become the latest Chinese…

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AiHuiShou’s Q2 Revenue Rises 56%, Fueled by Growing Electronics Recycling Network

Company releases first ESG report alongside its maiden earnings, aiming to spotlight its role in achieving China’s carbon-reduction goals Key points: AiHuiShou posts 56% revenue growth in its latest reporting quarter while continuing to operate in the red Company simultaneously released first ESG report highlighting its role in helping China to achieve its carbon-reduction goals By Doug Young Sometimes your best asset isn’t in your financial statements. That seems to be the message coming from electronics recycling specialist AiHuiShou International Co. Ltd. (RERE.US), which has just conveniently released its first…

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AiHuiShou Seeks Gold in Growing Heaps of Used Gadgets

IPO-bound recycling specialist could be valued higher than U.S. stalwart eBay on potential for its services business and international expansion Key points: AiHuiShou has strong growth potential due to its positioning as a trusted middleman facilitating the sale of used electronics Company could be valued strongly due to big growth for its service offerings and international expansion potential By Doug Young “Let the buyer beware,” is a common English saying that especially applies to used goods. When it comes to expensive items, like cars and electronics, buyers are often reluctant…

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