A growing focus on precision trade-in scenarios to boost recycling and improve its operating efficiency is propelling ATRenew Inc. (RERE.US) to some of its strongest revenue growth in years and record profits, according to its latest quarterly results released on May 19.
（作者阳歌，本文仅代表个人观点）
Founded in 2011, ATRenew spent its early years honing its abilities to collect and sell used goods, with a special focus on smartphones. As it built up its business, it increasingly focused on boosting efficiency and profitability, taking steps like increasing higher-margin product compliant refurbishment over simply reselling recycled phones.
专业回收商万物新生（RERE.US）近期通过精准聚焦以旧换新场景来提升回收业务，从而提升运营效率。其5月19日公布的最新季报显示，公司在2026年第一季度创下利润新高，并实现近年来最强劲的营收增长。
The company also discovered it could leverage its brand as a top recycler into other product categories outside its original electronics, and today also offers recycling in other areas like gold, luxury bags and even vintage liquors.
万物新生成立于2011年，早年致力于提升回收和销售二手商品的能力，尤其是智能手机回收业务。随着业务发展，它越来越注重提升效率和盈利能力，采取了一系列措施，例如增加毛利率更高的产品翻新业务，而不是仅仅转售回收的手机。