SHANGHAI, September 29, 2021 / PRNewswire / – AiHuiShou International Co. Ltd. (“ATRenew” or the “Company”) (NYSE: RERE), a technology-driven, pre-owned consumer electronic trading and services platform in China, participated in the Chinese Investors Summit on the Future of 36Kr in 2021 (the “Summit”) on September 23, 2021. Kerry Xuefeng Chen, Founder, President and CEO of the company attended the summit as a guest speaker to discuss the role of the company in meeting social responsibilities as a leading player in the industry.
At the Summit, national and international business leaders and investors gathered to exchange ideas on the social responsibilities of business operations and investments. Topics Kerry covered included business opportunities in the context of “dual carbon” goals (ie.
Kerry said that from China The “double carbon” goals and the publication of a circular economic policy show that the Chinese government encourages and supports the development of circular enterprises, which will be beneficial for ATRenew. Recently, the National Development and Reform Commission announced that it will collect opinions and suggestions from the general public on changes to the law on promoting circular economy. This suggests that the trade channels represented by “Internet + resource recycling” and second-hand markets should be more orderly and open in the future. As a result, companies will increasingly be able to meet the needs of consumers and support industry players both up and down the industry value chain.
In China, the rapid development of the country’s economy and technological capabilities, the increase in household consumption, the rise in living standards and the growth of unused goods have all led to an increase in the demand for circulation and used consumer goods transaction, with a focus 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 the life cycle of these products. China is the world’s largest market for mobile phones. Therefore, in the future, ATRenew will mainly focus on the category of mobile phones in the China Marlet. Apart from China, ATRenew plans to re-market used consumer electronics more widely.
Kerry also spoke about responsible and sustainable development, saying ATRenew would learn leading ESG practices both at home and abroad, take into account service to society and the achievement of the company’s business goals, and would continue to focus on creating long-term value. From a risk management perspective, ATRenew believes that companies with positive ESG attributes are more stable and sustainable in uncertain market environments. From a value creation perspective, ATRenew believes it has a responsibility to help solve social problems and achieve success. The Company aims to create equal social and business value. The value of a company with positive ESG attributes is not only reflected in its current performance, but also in its long-term social and business value. It requires entrepreneurs and investors to be more patient, to focus on creating long-term value and to have the firm conviction to support the joint construction of a better future.
Going forward, ATRenew is committed to promoting the sustainable development of the used consumer electronics industry. ATRenew has integrated ESG concepts and ESG management into its core and aims to further improve the stability and sustainability of its economic moats. In addition, the Company seeks to communicate and actively promote its findings and understanding of ESG integration both at home and abroad.
At August 17, 2021, the Company published its first “ESG” report, highlighting the Company’s long-term initiatives focused on improving its environmental impact and strengthening its social contributions in 2020. ir.aihuishou.com or request a copy by e-mail to [email protected]. English and Simplified Chinese versions are available.
About AiHuiShou International Co. Ltd.
Based at Shanghai, AiHuiShou International Co. Ltd. (“ATRenew”) (NYSE: RERE) operates a technology-driven second-hand consumer electronic services and transactions platform in China under the brand ATRenew, which stands for “All Things Renew”. Since its inception in 2011, ATRenew’s mission has been to give a second life to all unused goods, addressing the environmental impact of used consumer electronics devices by facilitating recycling and recycling services. exchange, and distributing devices to extend their life cycle. ATRenew’s open platform integrates C2B, B2B and B2C capabilities to strengthen its online and offline services. With end-to-end coverage of the entire value chain and proprietary inspection, grading and pricing technologies, ATRenew sets the standard for from China used consumer electronics industry.
Safe Harbor Declaration
This press release contains statements that may constitute “forward-looking” statements in accordance with the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “will.” , “Expects”, “anticipates”, “aims”, “future”, “intends”, “foresees”, “believes”, “believes”, “is likely to” and similar statements. Among other things, quotes in this announcement contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the United States 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 facilitate used consumer electronics transactions and provide relevant services; its ability to maintain and improve the recognition and reputation of its brand; general economic and trade conditions in the world and in China and the assumptions underlying or related to all of the above. Further information regarding these and other risks is included in the documents filed by ATRenew with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew assumes no obligation to update any forward-looking statement, except as required by applicable law.
Investor Relations Contact
AiHuiShou International Co. Ltd.
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SOURCE AiHuiShou International Co. Ltd.