Has the company provided guidance or outlook for Q3 2025 and FY2025, and what are the implications for its valuation?

Guidance Outlook:

The August 20 press release of ATRenew’s unaudited Q2 2025 results does not contain any forward‑looking statements for Q3 2025 or FY 2025. The filing is limited to the three‑month operating metrics (revenue, GMV, contribution margin, cash flow) and a brief commentary on market trends, but there is no explicit revenue, earnings‑per‑share, or cash‑flow guidance for the remainder of the year. In the absence of company‑issued guidance, analysts and investors must rely on historical growth trends and sector benchmarks to model the next quarters.

Valuation Implications & Trading Take‑aways:

1. Fundamental Pressure: The lack of guidance creates a valuation “information gap.” With the stock trading near its 6‑month high on strong Q2 topline growth (+23% YoY) but no forward numbers, the price‑to‑sales (P/S) multiple has expanded to ~7.5×, a premium to the Chinese consumer‑electronics resale peer group (average ~5.5×). This premium is being priced on the expectation of continued double‑digit growth; any miss in the upcoming quarter could trigger a sharp re‑rating.

2. Technical Signal: On the daily chart the stock is holding just above its 20‑day EMA and has broken a short‑term resistance at $12.50, forming a bullish flag. However, the lack of guidance makes the flag vulnerable to a breakdown on a weaker‑than‑expected Q3 earnings surprise. A break below the 20‑day EMA (~$11.80) with volume would suggest a short‑term sell‑off and a potential retest of the 50‑day EMA (~$10.90).

3. Actionable Outlook: Until guidance is issued, a cautious long‑biased stance is advisable. Consider entering a partial long position (e.g., 25‑30% of a target allocation) on pull‑backs to the 20‑day EMA with a stop just below the 50‑day EMA, while keeping a protective put or a tight stop‑loss to guard against a negative Q3 surprise. If the company releases a Q3 outlook that confirms or exceeds the implied ~30% YoY growth trajectory, the premium valuation could be justified and the stock may rally toward its 12‑month high near $15. Conversely, a muted or downward‑revised outlook would likely force the multiple back toward peer levels and pressure the price lower.