SHANGHAI, Sept. 16, 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, presented on the sustainable
development of the pre-owned consumer electronics industry during
the "Sustainable Society" themed webinar at the 28th
Annual CITIC CLSA Flagship Investors' Forum in 2021 (the "Event").
Kerry Xuefeng Chen, Founder,
Chairman, and Chief Executive Officer attended the Event on behalf
of the Company as its keynote speaker.
Kerry first talked about the growth potential and development of
the pre-owned electronics market. The rapid development of
information digitization, disposable income, and the mobile
Internet in China have greatly
shortened the iteration and replacement cycle of smart consumer
electronic products. According to China Insight Consultancy
statistics, there were more than 2.6 billion consumer electronic
devices with use value circulating in China as of 2020. The majority of these
devices were left unused or discarded, despite the fact that the
disposal of electronic devices leads to tremendous waste and carbon
emissions. Furthermore, when consumer electronic devices are
discarded inappropriately, heavy metals from these devices can
cause serious environmental harm. Therefore, the best solution is
to identify and resell the electronic products that still have use
value, so as to effectively alleviate the pressures of electronics
disposal by extending the lifecycle of electronic products.
Discussing his vision for the sustainable development of the
pre-owned consumer electronics market, Kerry expressed that through
10 years of hard work, ATRenew has integrated C2B, B2B, and B2C
capabilities to cover the entire pre-owned consumer electronics
value chain. Through the Company's independent research and
development of quality inspection, grading, and pricing
technologies, ATRenew has integrated Internet and environmental
protections to develop a business model and establish an enterprise
supporting the development of the circular economy. The Company
actively applies this business model to raise consumer awareness of
recycling, enhance the transaction efficiency for pre-owned
consumer products, prolong product lifecycles, set new industry
standards, and promote industry development.
Based on the GRI standards of the Global Sustainability
Standards Board (GSSB), industry standards of the Sustainability
Accounting Standards Board Foundation (SASB), and ATRenew's careful
study of the relevant topics from MSCI, the world's leading rating
agency, and Sustainalytics, ATRenew draws on the experience of
world leaders in ESG accountability to take the lead among public
companies participating in the circular economy and release an
annual ESG report. The Company took the lead in transparently
disclosing all systems and measures designed for protecting user
privacy and data security, standardizing the pre-owned electronics
industrial chain, measuring the carbon emissions of all related
parties in the industry chain in 2020, as well as ensuring the
rights, safety, and welfare of its employees. ATRenew goes further
to clarify each of the three critical issues in its ESG efforts.
For environmental issues, the Company emphasizes energy
conservation, emission reduction, and recycling, formulating clear
supplier evaluation standards for the upstream and downstream
supply chains, especially as relating to green transportation and
environmentally friendly disposal. Socially, the Company emphasizes
industry self-discipline, development of a transparent external
communication mechanism, and the healthy development of employees,
as well as comprehensive employee training, promotion mechanisms,
and welfare. When addressing social responsibility, the Company has
carried out digital education assistance programs for rural
children and donated goods to areas that have been impacted by
COVID-19 and are in need. In terms of corporate governance, the
Company improved its top-level governance, established an ESG
Committee, and enhanced corporate governance through effective risk
and information security management mechanisms.
ATRenew is committed to and fully confident in promoting the
sustainable development of the pre-owned consumer electronics
industry. Riding the rapid pace of development, ATRenew has
established a sense of sustainable development and embedded an
environmental, social, and governance ("ESG") framework into
its very core. The Company continues to enhance its competitive
advantages, business stability, and sustainability. The Company
further strengthens its collaborations with supply chain
participants and opens itself up to stakeholder supervision and
broader communication channels. Environmentally, ATRenew will
leverage its recycling expertise to build on its specialization
strengths and fuel expansion, supplementing its quantitative plan
to provide social benefits and bring its corporate governance to
the next level.
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 of 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.