ATRenew's stock price plummeted 6.67% during the intraday session on Wednesday, following the release of the company's first-quarter 2026 financial results the previous evening.

The sharp decline came despite ATRenew reporting robust Q1 figures, including a 32.4% year-over-year revenue increase to RMB 6.16 billion and a 70.2% surge in non-GAAP operating profit. However, investor sentiment appeared to be weighed down by the company's second-quarter revenue guidance of RMB 6.24 billion to RMB 6.34 billion, which implies a growth rate of 25% to 27%. This represents a sequential deceleration from the 32.4% growth achieved in Q1, potentially falling short of market expectations for sustained or accelerated expansion.

Management highlighted positive operational shifts, including a growing direct-to-consumer business and improved margins, and announced an extension of its share repurchase program. Nevertheless, the market's reaction suggests a focus on the moderating growth outlook for the coming quarter.