Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Research Coverage on Small and Micro-Cap Companies

Equity Bottom-Up

<ul><li>Key 2Q25 takeaways include: 1) RERE remains well positioned to increasingly capitalize on national subsidies on new mobile phones, particularly in light of key trade-in programs with JD.com and Apple, with senior officials continuing to source similar partnerships with other consumer electronics brands and e-commerce platforms to drive broader recycling/trade-in activity 2) management remains committed to further expanding the retail footprint, as well as the underlying product mix, to enhance supply chain/recycling capabilities, with ongoing upgrades to RERE's fulfillment capabilities driving reduced transaction times, improving customer experiences, enhanced AHS Recycle brand loyalty, and rising revenue contributions and 3) in light of steadily rising adjusted net income and more opportunistic share repurchases, the Board recently approved a three-year shareholder return plan centered on allocating at least 60% of annual adjusted net income to dividends and/or share repurchases, with this year's allocation likely skewed more in favor of a special dividend in March 2026.</li></ul>

Key 2Q25 takeaways include: 1) RERE remains well positioned to increasingly capitalize on national subsidies on new mobile phones, particularly in light of key trade-in programs with JD.com and Apple, with senior officials continuing to source similar partnerships with other consumer electronics brands and e-commerce platforms to drive broader recycling/trade-in activity 2) management remains committed to further expanding the retail footprint, as well as the underlying product mix, to enhance supply chain/recycling capabilities, with ongoing upgrades to RERE's fulfillment capabilities driving reduced transaction times, improving customer experiences, enhanced AHS Recycle brand loyalty, and rising revenue contributions and 3) in light of steadily rising adjusted net income and more opportunistic share repurchases, the Board recently approved a three-year shareholder return plan centered on allocating at least 60% of annual adjusted net income to dividends and/or share repurchases, with this year's allocation likely skewed more in favor of a special dividend in March 2026.

ATRenew

RERE: 2Q25 Earnings