SHANGHAI, June 20,
2023 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or
the "Company") (NYSE: RERE), a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China, today released its 2022
environmental, social, and governance ("ESG") report (the
"Report"). The Report discloses the Company's commitment and
efforts towards cultivating the circular economy and promoting
sustainable consumption. It addresses the concerns of key
stakeholders, including users, employees, investors, regulatory
agencies, and communities, regarding sustainable development.
To view the report in full, please visit
https://www.atrenew.com/2022_ESG_Report_EN.pdf. Highlights of the
Company's ESG efforts include:
Taking Proactive Steps Towards Green Operations While
Promoting Energy Conservation and Efficiency:
- Implementing proactive measures towards green operations,
conserving energy, and reducing emissions: During the reporting
period, ATRenew's greenhouse gas emission intensity (scope 1 +
scope 2) was recorded at 0.30 tons of CO2 equivalent per
million RMB, achieving a decrease of 18.9% compared with 2021. Over
the past three years, ATRenew's carbon emissions have consistently
decreased, demonstrating concrete results from the Company's energy
conservation and emissions reduction efforts.
- Enhancing the reuse of packaging materials: ATRenew has
procured more environmentally friendly and durable packaging
materials to reduce material usage and promote packaging
circularity. In 2022, the Company reused 18 tons of packaging
fillers for B2B parcels, and recycled and reused 36,000 packaging
boxes for B2C parcels.
- Taking responsibility for green electronic waste
disposal: ATRenew dismantled 270,000 electronic devices in an
environmentally-friendly way, reducing electronic product pollution
by 43.2 tons. As part of the Company's commitment to
environmentally-responsible operations, suppliers are required to
classify, recycle, and reuse metal materials at the end of the
dismantling process, minimizing the environmental impact of heavy
metals.
Broadening the Circular Economy Ecosystem Through Innovation
and Service:
- Expanding the circular economy's service scope through
multi-category recycling: Since the second quarter of 2022,
ATRenew has offered multi-category recycling services to cater to a
wider range of recycling needs for AHS Recycle users. These
services have shifted the linear model of non-electronic products
from "make-use-dispose" to the circular cycle of
"make-use-recycle-reuse". By the end of 2022, ATRenew's
multi-category recycling services covered 63 stores in 14 cities
across China.
- Continuously improving service accessibility: At the end
of 2022, ATRenew operated a total of 1,920 offline stores
nationwide, with a net addition of 612 stores during the year. This
expansion improved access to safe and convenient recycling services
in China's mid-to-low-tier cities.
In 2022, the Company also installed self-service recycling kiosks
for pre-owned mobile phones in Japan, empowering its partners and
facilitating the efficient turnover of pre-owned mobile phones
overseas.
- Strengthening product quality control: ATRenew obtained
ISO 9001 certification for its quality management system. The
Company has continuously enhanced its platform's quality control
capabilities within the pre-owned electronics ecosystem.
- Contributing to the pre-owned electronics industry's
standardized development: ATRenew has been active in soliciting
opinions on industry standards for compliant refurbishment. The
Company has engaged in the compliant refurbishment of electronic
products based on the first pre-owned electronic refurbishment
guidelines released by the People's Procuratorate of Shenzhen.
- Empowering industry participants in their digital
development: ATRenew provided specialized training to 8,047 PJT
merchants, helping them effectively digitize and professionalize
their online trading operations and management.
Enhancing Governance Structure and Measures, Solidifying a
Foundation for Sustainable Development:
- Creating a more inclusive board structure: The Company's
board of directors consists of eight members, including two female
directors. Three out of the eight members are independent
directors. The directors possess extensive industry experience, and
provide corporate governance insights from professional fields
including internet and retail, capital markets, marketing, and
sustainable development.
- Strengthening internal control and internal audit
system: ATRenew's Internal Control and Internal Audit
Department conducted a self-assessment on internal controls related
to financial reporting and promptly rectified the shortcomings in
accordance with the requirements of the Sarbanes-Oxley Act. In
2022, the Company held 11 Risk Management Committee meetings,
discussed 34 risk issues, and rectified 27 issues. ATRenew also
planned and executed a series of audit projects, including
anti-fraud investigation, inventory management and
procurement management, while rectifying nearly 90% of the
identified deficiencies.
- Bolstering intellectual property protection: During
2022, ATRenew obtained 53 new intellectual property authorizations
and 43 new patents. While upholding rigorous standards and norms,
the Company made efforts to enhance education and reinforce
requirements for the protection of intellectual property among
platform merchants by leveraging the influence of the industry
chain.
- Improving ESG rating: In the reporting year, ATRenew
received an ESG rating of 17.6 out of 100 from Morningstar
Sustainalytics, which assessed the Company to be at "Low Risk" of
experiencing material ESG factors. The Company ranked fourth out of
85 companies in the "online and direct retail" sector globally, a
significant improvement compared to its pre-IPO rating.
Putting People First, Focusing on Employee Development, and
Giving Back to Employees and Society:
- Emphasizing talent cultivation and development: At the
end of 2022, including full-time employees, outsourced staff and
part-time personnel, the Company had a talent headcount of 5,211
people. Through compliant recruitment, diverse training approaches,
specialized training programs, and initiatives promoting physical
and mental well-being, the Company ensures the sustainable
development of its employees.
- Enhancing employee satisfaction through effective
communication: ATRenew's "Listener Program" feedback channel
received 697 suggestions from employees in 2022. By effectively
resolving issues, addressing employee feedback, and utilizing
methods such as quarterly performance reviews, ATRenew ensured
smooth communication between the Company and its employees. These
efforts yielded a 4.47% improvement in the results of the Company's
2022 employee satisfaction survey.
- Engaging in philanthropy and supporting education through
digital devices: In 2022, ATRenew made philanthropic donations
totaling RMB1 million. The Company
also donated pre-owned electronic learning devices through its "AHS
Charity and Love · Digital Education Aid Program for Rural
Children" program. These donations benefitted a total of 10,770
students in rural villages, improving their access to educational
resources.
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
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.