This article only represents the author's own views.
There’s nothing like a government push to get your business flowing, especially when one of your key stakeholders – which just happens to be one of China’s top e-commerce companies – decides to fully embrace Beijing’s latest campaign to boost recycling.
Those were some of the key themes coming from ATRenew Inc. (RERE.US), one of China’s leading recyclers, which on Monday reported continued strong revenue growth in the first quarter, even as many Chinese companies stumble in the current climate of economic uncertainty. The company also reported improving margins as it hones its automation testing centers to boost its efficiency. It slipped back into the red after reporting its first net profit since its 2021 IPO in the previous quarter, though it remained profitable on a non-GAAP basis.