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万物 新生 ATRENEW ATRenew Inc. Reports Unaudited Third Quarter 2021 Financial Results November 18 , 2021 SHANGHAI , Nov. 18 , 2021 / PRNewswire / -- ATRenew Inc. ( " ATRenew " or the " Company " ) ( NYSE : RERE ) , a leading technology - driven pre - owned consumer electronics transactions and services platform in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights • Total net revenues grew by 48.0 % to RMB1,962.3 million ( US $ 304.5 million ) from RMB1,326.1 million in the third quarter of 2020 . • Loss from operations was RMB150.5 million ( US $ 23.4 million ) , compared to RMB84.7 million in the third quarter of 2020 . Adjusted loss from operations ( non - GAAP ) [ 1 ] was RMB28.5 million ( US $ 4.4 million ) compared to RMB6.9 million in the third quarter of 2020 . • Total Gross Merchandise Volume ( " GMV [ 2 ] " ) increased by 56.6 % to RMB8.3 billion from RMB5.3 billion in the third quarter of 2020. GMV for product sales increased by 58.3 % to RMB1.9 billion from RMB1.2 billion in the third quarter of 2020. GMV for online marketplaces increased by 56.1 % to RMB6.4 billion from RMB4.1 billion in the third quarter of 2020 . • Number of consumer products transacted [ 3 ] increased by 23.4 % to 7.9 million from 6.4 million in the third quarter of 2020 . [ 1 ] See " Reconciliations of GAAP and Non - GAAP Results " for more information . [ 2 ] " GMV " represents the total dollar value of goods distributed to merchants and consumers through transactions on the Company's platform in a given period for which payments have been made , prior to returns and cancellations , excluding shipping cost but including sales tax . [ 3 ] " Number of consumer products transacted " represents the number of consumer products distributed to merchants and consumers through transactions on the Company's PJT Marketplace , Paipai Marketplace and other channels the Company operates in a given period , prior to returns and cancellations , excluding the number of consumer products collected through AHS Recycle ; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace , Paipai Marketplace and other channels the Company operates through the distribution process to end consumer . Mr. Kerry Xuefeng Chen , the Founder , Chairman , and Chief Executive Officer of ATRenew , commented , " Despite the slowdown in new device sales , we delivered another strong quarter of robust scale and revenue growth , showcasing the vitality of China's circular economy . In response to macro policies , we are proactively pushing to further the country's goals for peak carbon emissions , carbon neutrality , and developing a circular economy by promoting standardization of the pre - owned consumer industry and driving the growth of a new type of real economy for compliant recycling and trade - ins of pre - owned consumer electronics . " " In terms of our operations , we upgraded our new generation automated inspection system , Matrix 2.0 , further improving automation and operational efficiency while fortifying the technological infrastructure for further long - term development . Additionally , we continued to explore our city - level distribution model , achieved end - to - end coverage on recycling , operation , and sales , and made new breakthroughs in enhancing our pre - owned consumer electronics turnover efficiency . " Mr. Rex Chen , the Chief Financial Officer of ATRenew , added , " We continued our growth momentum with GMV and revenue growth beyond expectations in the third quarter . GMV for product sales increased by 58.3 % year over year , primarily driven by organic growth in our AHS stores and strong support from our strategic partners including JD Group . As we improved our platform's service capabilities , our service revenue sustained healthy growth , increasing by 67.3 % year over year . Our comprehensive take rate rose to 4.6 % , and , more importantly , revenue contribution from services grew to 15.2 % during the third quarter , diversifying our revenue mix . Looking forward to the fourth quarter and 2022 , we are confident in our ability to increase efficiency through streamlining our operations , improving profitability and capital utilization efficiency , and creating long - term value for both shareholders and our environment . " Third Quarter 2021 Financial Results REVENUE Total net revenues increased by 48.0 % to RMB1,962.3 million ( US $ 304.5 million ) from RMB1,326.1 million in the same period of 2020 . • Net product revenues increased by 45.0 % to RMB1,665.0 million ( US $ 258.4 million ) from RMB1,148.4 million in the same period of 2020. The increase was primarily attributable to an increase in the sourcing volume and the corresponding sales of pre - owned consumer electronics through PJT Marketplace , Paipai Marketplace and the Company's offline channels . • Net service revenues increased by 67.3 % to RMB297.3 million ( US $ 46.1 million ) from RMB177.7 million in the same