When it comes to recycled goods, there’s nothing like being able to touch and feel what you’re buying.
That’s one of the key lessons that ATRenew Inc. (RERE.US) has learned in the 14 years since its inception, and is a central focus as it works to build a name as China’s top recycling brand. The company showed it was making strides in that direction last week by reporting its fastest revenue growth in two years during the second quarter, as it also posted a fourth consecutive quarter of GAAP operational profitability.
ATRenew also unveiled a major new program to return its growing profits to shareholders, which companies typically do as both share buybacks and by paying dividends. ATRenew has engaged in share buybacks for a while now. But the new program’s unveiling – including its ambitious goal of returning no less than 60% of the company’s adjusted net profits to shareholders – hints that it could also offer dividends in the not-too-distant future.