SHANGHAI, Sept. 29, 2021 /PRNewswire/ -- AiHuiShou
International Co. Ltd. ("ATRenew" or the "Company") (NYSE: RERE), a
leading technology-driven pre-owned consumer electronics
transactions and services platform in China, participated in 36Kr's 2021 China
Investor Future Summit (the "Summit") on September 23, 2021. Kerry
Xuefeng Chen, Founder, Chairman, and Chief Executive Officer
of the Company attended the Summit as a guest speaker to discuss
the Company's role in shouldering social responsibilities as a
leading industry player.
At the Summit, business leaders and domestic and international
investors came together to exchange ideas regarding the social
responsibilities of business operations and investments. Topics
addressed by Kerry included business opportunities against the
backdrop of "dual carbon" goals (i.e. carbon neutrality and peak
carbon levels), the development of a circular economy, and
ATRenew's environmental, social, and governance ("ESG") insights
and practices.
Kerry stated that China's "dual
carbon" goals and release of circular economic policy show that the
Chinese government encourages and supports the development of
circular businesses, which will be beneficial to ATRenew. Recently,
the National Development and Reform Commission announced that it
will collect the general public's opinions and suggestions on
amendments to the Circular Economy Promotion Law. This suggests
that the commercial pathways represented by "Internet + resource
recycling" and second-hand markets are expected to be more orderly
and more open going forward. As a result, corporates will be
increasingly capable of serving the needs of consumers and
supporting industry participants both upstream and downstream in
the industry value chain.
In China, the rapid development
of the country's economy and technological capabilities, increase
in household consumption, higher standard of living, and growth in
idle goods have all led to an increase in the demand for
circulation and transaction of pre-owned consumer goods, with a
particular emphasis on consumer electronics. ATRenew believes that
the best way to mitigate the waste of resources and environmental
pollution caused by electronic products is to leverage its
sustainable business model to further extend these products' life
cycles. China is the world's
largest market for mobile phones. Therefore, going forward, ATRenew
will mainly focus on the mobile phone category in the China market. Outside of China, ATRenew plans to re-commercialize
pre-owned consumer electronics more broadly.
Kerry also spoke on responsible and sustainable development,
saying that ATRenew would learn from the leading ESG practices both
at home and abroad, take into account serving society and achieving
the Company's business goals, and continue to focus on long-term
value creation. From the perspective of risk management, ATRenew
believes that companies with positive ESG attributes are more
stable and sustainable in uncertain market environments. From the
perspective of value creation, ATRenew believes that it has a
responsibility to help solve social problems and achieve success.
The Company aims to create social value and commercial value in
equal proportions. The value of an enterprise with positive ESG
attributes is not only reflected in its current performance, but
also in its long-term social and commercial worth. This requires
entrepreneurs and investors to be more patient, focus on long-term
value creation, and have a firm conviction to support the joint
construction of a better future.
Looking ahead, ATRenew is committed to promoting the sustainable
development of the pre-owned consumer electronics industry. ATRenew
has embedded ESG concepts and ESG management into its core and aims
to further enhance the stability and sustainability of its economic
moats. In addition, the Company seeks to actively communicate and
promote its findings and understandings of ESG integration both at
home and abroad.
On August 17, 2021, the Company
published its first "ESG" report, highlighting the Company's
long-term initiatives focused on improving its environmental impact
and furthering its social contributions in 2020. To view the report
in full, please visit the ESG section on ATRenew's Investor
Relations website at ir.aihuishou.com or request a copy via email
at ir@aihuishou.com. Both English and Simplified Chinese versions
are available.
About AiHuiShou International Co. Ltd.
Headquartered in Shanghai,
AiHuiShou International Co. Ltd. ("ATRenew") (NYSE: RERE) operates
a leading technology-driven pre-owned consumer electronics
transactions and services platform in China under the brand ATRenew, which stands
for "All Things Renew." Since its inception in 2011, ATRenew has
been on a mission to give a second life to all idle goods,
addressing the environmental impact of pre-owned consumer
electronics by facilitating recycling and trade-in services, and
distributing the devices to prolong their lifecycle. ATRenew's open
platform integrates C2B, B2B, and B2C capabilities to empower its
online and offline services. Through its end-to-end coverage of the
entire value chain and its proprietary inspection, grading, and
pricing technologies, ATRenew sets the standard for China's pre-owned consumer electronics
industry.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. ATRenew may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about ATRenew's beliefs,
plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: ATRenew's
strategies; ATRenew's future business development, financial
condition and results of operations; ATRenew's ability to maintain
its relationship with major strategic investors; its ability to
provide facilitate pre-owned consumer electronics transactions and
provide relevant services; its ability to maintain and enhance the
recognition and reputation of its brand; general economic and
business conditions globally and in China and assumptions underlying or related to
any of the foregoing. Further information regarding these and other
risks is included in ATRenew's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and ATRenew does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
In China:
AiHuiShou International Co. Ltd.
Investor Relations
Email: ir@aihuishou.com
In the United States:
ICR, LLC
Email: aihuishou@icrinc.com
Tel: +1-212-537-0461
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SOURCE AiHuiShou International Co. Ltd.