XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Schedule I - Additional Information of Parent Company | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule I - Additional Information of Parent Company | SCHEDULE I—ADDITIONAL INFORM ATION OF THE PARENT COMPANY ATRENEW INC. CONDENSED BALANCE SHEETS (Amounts in thousands, except for share, per share data or otherwise noted)
|  | As of December 31, |
|  | 2022 |  |  | 2023 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 34,548 |  |  |  | 22,199 |  |  |  | 3,127 |
Prepayments and other receivables, net |  |  | 32,403 |  |  |  | 53,665 |  |  |  | 7,559 |
Short-term investments |  |  | — |  |  |  | 71,570 |  |  |  | 10,080 |
Total current assets |  |  | 66,951 |  |  |  | 147,434 |  |  |  | 20,766 |
Non-current assets: |  |  |  |  |  |  |  |  |
Long-term investments |  |  | 19,806 |  |  |  | 5,628 |  |  |  | 793 |
Investments in and amounts due from subsidiaries |  |  | 3,783,114 |  |  |  | 3,559,862 |  |  |  | 501,396 |
Other non-current assets |  |  | 14,909 |  |  |  | — |  |  |  | — |
Total Non-current assets |  |  | 3,817,829 |  |  |  | 3,565,490 |  |  |  | 502,189 |
TOTAL ASSETS |  |  | 3,884,780 |  |  |  | 3,712,924 |  |  |  | 522,955 |
LIABILITIES |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  |  | 3,108 |  |  |  | 1,463 |  |  |  | 206 |
Total current liabilities |  |  | 3,108 |  |  |  | 1,463 |  |  |  | 206 |
TOTAL LIABILITIES |  |  | 3,108 |  |  |  | 1,463 |  |  |  | 206 |
SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Class A Ordinary shares (US$0.001 par value, 941,472,561 and 941,472,561 shares authorized, 100,854,060 and 102,120,726 shares issued and 96,388,001 and 87,795,879 outstanding as of December 31, 2022 and 2023, respectively) |  |  | 609 |  |  |  | 609 |  |  |  | 86 |
Class B Ordinary shares (US$0.001 par value, 47,240,103 shares authorized, issued and outstanding as of December 31, 2022 and 2023, respectively) |  |  | 305 |  |  |  | 305 |  |  |  | 43 |
Class C Ordinary shares (US$0.001 par value, 11,287,336 shares authorized, issued and outstanding as of December 31, 2022 and 2023, respectively) |  |  | 7 |  |  |  | 7 |  |  |  | 1 |
Additional paid-in capital |  |  | 13,131,263 |  |  |  | 13,268,487 |  |  |  | 1,868,827 |
Treasury shares (US$0.001 par value, 5,699,315 and 12,240,463 outstanding as of December 31, 2022 and 2023, respectively) |  |  | (217,920 | ) |  |  | (377,988 | ) |  |  | (53,238 | )
Accumulated deficit |  |  | (9,006,884 | ) |  |  | (9,163,134 | ) |  |  | (1,290,600 | )
Accumulated other comprehensive loss |  |  | (25,708 | ) |  |  | (16,825 | ) |  |  | (2,370 | )
TOTAL SHAREHOLDERS’ EQUITY |  |  | 3,881,672 |  |  |  | 3,711,461 |  |  |  | 522,749 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  | 3,884,780 |  |  |  | 3,712,924 |  |  |  | 522,955 |
SCHEDULE I—ADDITIONAL INFORMATION OF THE PARENT COMPANY ATRENEW INC. CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (Amounts in thousands, except for share, per share data or otherwise noted)
|  | Years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Net revenues |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expenses and (loss) income |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing expenses |  |  | (28 | ) |  |  | — |  |  |  | (72 | ) |  |  | (10 | )
General and administrative expenses |  |  | (7,228 | ) |  |  | (15,909 | ) |  |  | (15,079 | ) |  |  | (2,124 | )
Other operating income |  |  | — |  |  |  | 22,869 |  |  |  | 9,512 |  |  |  | 1,340 |
Interest income |  |  | 82 |  |  |  | — |  |  |  | — |  |  |  | — |
Interest expenses |  |  | (4,238 | ) |  |  | (1,297 | ) |  |  | — |  |  |  | — |
Share of results of equity investees |  |  | — |  |  |  | — |  |  |  | (12,644 | ) |  |  | (1,781 | )
Other (loss) income, net |  |  | (43,287 | ) |  |  | 207,914 |  |  |  | 50,480 |  |  |  | 7,110 |
Equity in losses of subsidiaries and share of loss from former VIE and former VIE’s subsidiaries |  |  | (761,848 | ) |  |  | (2,681,514 | ) |  |  | (188,447 | ) |  |  | (26,542 | )
Net loss attributable to the Company |  |  | (816,547 | ) |  |  | (2,467,937 | ) |  |  | (156,250 | ) |  |  | (22,007 | )
Accretion of convertible redeemable preferred shares |  |  | (508,627 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net loss attributable to ordinary shareholders |  |  | (1,325,174 | ) |  |  | (2,467,937 | ) |  |  | (156,250 | ) |  |  | (22,007 | )
Net loss attributable to the Company |  |  | (816,547 | ) |  |  | (2,467,937 | ) |  |  | (156,250 | ) |  |  | (22,007 | )
Foreign currency translation adjustments |  |  | 2,239 |  |  |  | (30,030 | ) |  |  | 8,883 |  |  |  | 1,251 |
Total comprehensive loss |  |  | (814,308 | ) |  |  | (2,497,967 | ) |  |  | (147,367 | ) |  |  | (20,756 | )
Accretion of convertible redeemable preferred shares |  |  | (508,627 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total comprehensive loss attributable to ordinary shareholders |  |  | (1,322,935 | ) |  |  | (2,497,967 | ) |  |  | (147,367 | ) |  |  | (20,756 | )
SCHEDULE I—ADDITIONAL INFORMATION OF THE PARENT COMPANY ATRENEW INC. CONDENSED STATEMENTS OF CASH FLOWS (Amounts in thousands, except for share, per share data or otherwise noted)
|  | Years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | USD |
Cash (used in) provided by operating activities |  |  | (4,295 | ) |  |  | 37,835 |  |  |  | 7,869 |  |  |  | 1,108 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchase of long-term investments |  |  | (32,427 | ) |  |  | (12,644 | ) |  |  | — |  |  |  | — |
Purchase of short-term investments |  |  | — |  |  |  | — |  |  |  | (71,570 | ) |  |  | (10,080 | )
Investments in and loan to subsidiaries’ and former VIE’s subsidiaries |  |  | (2,589,491 | ) |  |  | (595,130 | ) |  |  | (14,573 | ) |  |  | (2,052 | )
Collection of investments in and loan to subsidiaries’ and former VIE’s subsidiaries |  |  | — |  |  |  | 804,743 |  |  |  | 223,171 |  |  |  | 31,433 |
Cash (used in) provided by investing activities |  |  | (2,621,918 | ) |  |  | 196,969 |  |  |  | 137,028 |  |  |  | 19,301 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from exercise of options |  |  | — |  |  |  | 2,864 |  |  |  | 2,822 |  |  |  | 397 |
Repurchase of ordinary shares |  |  | — |  |  |  | (217,920 | ) |  |  | (160,068 | ) |  |  | (22,545 | )
Repayment for short-term borrowings |  |  | (32,230 | ) |  |  | (30,720 | ) |  |  | — |  |  |  | — |
Proceeds from issuance of convertible redeemable preferred shares |  |  | 1,138,232 |  |  |  | — |  |  |  | — |  |  |  | — |
Proceeds from IPO, net of issuance cost of RMB 46,931 |  |  | 1,488,866 |  |  |  | — |  |  |  | — |  |  |  | — |
Cash provided by (used in) financing activities |  |  | 2,594,868 |  |  |  | (245,776 | ) |  |  | (157,246 | ) |  |  | (22,148 | )
Net decrease in cash, cash equivalents |  |  | (31,345 | ) |  |  | (10,972 | ) |  |  | (12,349 | ) |  |  | (1,739 | )
Cash, cash equivalent at the beginning of the year |  |  | 76,865 |  |  |  | 45,520 |  |  |  | 34,548 |  |  |  | 4,866 |
Cash, cash equivalent at the end of the year |  |  | 45,520 |  |  |  | 34,548 |  |  |  | 22,199 |  |  |  | 3,127 |
Supplemental cash flow disclosures of continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Interest expenses paid |  |  | (4,238 | ) |  |  | (1,297 | ) |  |  | — |  |  |  | — |
Supplemental disclosure of non-cash investing and financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Exercise of warrant |  |  | 10,345 |  |  |  | — |  |  |  | — |  |  |  | — |
SCHEDULE I NOTES TO CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY 1. Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same date and for the same period for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. 2. The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries and former VIE. For the parent company, the Company records its investments in subsidiaries and former VIE under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the Condensed Balance Sheet as “Investments in subsidiaries, former VIE and former VIE's subsidiaries” or and the subsidiaries and former VIE’ profit or loss as “Equity in losses of subsidiaries and share of loss from former VIE and former VIE's subsidiaries” on the Condensed Statements of Comprehensive Income (loss). Ordinarily under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of subsidiaries and former VIE regardless of the carrying value of the investment even though the parent company is not obligated to provide continuing support or fund losses. 3. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures provide certain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the accompanying consolidated financial statements. 4. Besides the guarantee on the short-term borrowings of the subsidiaries as of the year ended December 31, 2023, there were no other material contingencies, significant provisions of long-term obligations, guarantees of the Company for the years ended December 31, 2021, 2022 and 2023.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration