SHANGHAI, Sept. 30,
2022 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the
"Company") (NYSE: RERE), a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China, today announced that Mr.
Lijun Xin and Mr. Yanzhong Yao have been appointed as new
directors to the Company's board of directors (the "Board"),
effective on September 30, 2022, to
fill in the vacancies arising from the resignations of Mr. Lei Xu
and Mr. Wei Tang. Mr. Lijun Xin will also replace Mr. Lei Xu to serve
as a member of the compensation committee of the Board and a member
of the nominating and corporate governance committee of the Board.
Upon the appointment of Mr. Lijun
Xin and Mr. Yanzhong Yao, the
Board consists of eight members: Mr. Kerry
Xuefeng Chen, Mr. Yongliang
Wang, Mr. Lijun Xin, Mr.
Yanzhong Yao, Mr. Chen Chen, Mr. Jingbo
Wang, Mr. Guoxing Jiang and
Ms. Rui Zhu.
Mr. Lijun
Xin is chief executive officer of JD Retail. Mr. Xin joined
JD.com (NASDAQ: JD and HKEX: 9618) in 2012 and has held several key
positions within JD.com. He pioneered the integration of online
retail and marketplace model in business operation when he was head
of the Apparel & Home business department. Later on, he led the
establishment of JD.com's healthcare business and was appointed as
chief executive officer of JD Health International Inc. (HKEX:
6618) in July 2019. Under the
leadership of Mr. Xin, JD Health was successfully listed on HKEX in
December 2020. Mr. Xin also serves as
a director of Dada Nexus Limited (NASDAQ: DADA) since August 2022. Mr. Xin holds an EMBA degree from
China Europe International Business School and a bachelor's degree
of science in electrical engineering and automation from Shanghai
Jiao Tong University.
Mr. Yanzhong Yao is presently
senior vice president of JD.com and president of JD Electronics and
Home Appliance. Since joining JD.com in 2004, Mr. Yao has held
several executive positions of JD Retail, including President of JD
Computers and Digital Products, JD Mobile Devices, and JD Life
Services, etc. Mr. Yao holds a joint EMBA degree from Peking
University and the University of Hong
Kong.
Mr. Kerry Xuefeng Chen, the
Company's Founder, Chairman, and Chief Executive Officer, on behalf
of the Board and the management of the Company, said, "We are
delighted to welcome Mr. Lijun Xin
and Mr. Yanzhong Yao to the Board.
As we devote ourselves to meeting the evolving needs of Chinese
consumers, we continue our close partnership with JD.com, creating
greater synergy with JD's retail system and providing safe,
convenient and value-for-money trade-in solutions for consumer
electronics. Our longtime goal of providing unmatched customer
service remains unchanged. We would like to thank Mr. Lei Xu and
Mr. Wei Tang for their invaluable
insight and their contributions to the successful growth of
ATRenew."
About ATRenew Inc.
Headquartered in Shanghai,
ATRenew Inc. operates a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China under the brand ATRenew.
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:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com
In the United States:
ICR, LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461
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SOURCE ATRenew Inc.
