We are delighted to see further scaling of our fulfillment network in January: 40 stores joined our comprehensive network, including self-operated AHS stores, jointly-operated AHS stores, AHS partner stores (a new type of AHS store, “合作店” in Chinese), and Paipai Selection stores. City-level operation stations totaled 99 nationwide. Such progress reflects that our business continues to penetrate deeply into both consumer and merchant communities.

Continue operations during the Chinese New Year holiday: Paipai Marketplace achieved new records during the holiday season – from January 1 to January 7, the overall GMV of Paipai and GMV of smartphone sales increased by 71% and 78% YoY respectively. Of note, GMV of Paipai Selection stores and its official website surged by 630% YoY, and GMV of Douyin and Kuaishou jumped by more than 300% YoY. The number of recycling and trade-in orders through JD increased by 83% and 173% YoY.
To ensure customer experience, AHS Recycle – recycling orders remained effective for 10 days, and door-to-door pick-up and mail services remained open. PJT Marketplace – it was business as usual with blind auctions, fixed price goods, and JD spare stock services. In order to support smooth transactions during the holiday season, PJT Marketplace also provided temporary inventory keeping service to buyers.

Rolled out corporate structure reconfigurations to implement city-level service integration strategy. On the business front, this is done through re-mapping the mainland China market into the north and the south, for a refined business performance evaluation, improved business penetration competencies and merchant community services. There was also an upgrade to the technology department, aiming at enhancing the offerings of marketplaces, privacy protection and data security, quality assurance, and innovations.

In January, ZTO Express joined the logistics service provider network of PJT Marketplace. In addition to mailing cost management, PJT Marketplace started to charge logistics service fees to buyers, ranging from RMB0.9 to RMB4.9 per device, manifesting improved user stickiness and monetization capability.

Rex Chen, CFO of ATRenew, exchanged a nexus of ideas at Bloomberg Daybreak Asia, regarding trade-in as a compelling alternative to buying new devices, extending electronics lifecycle through re-commercialization, and approaches of consumer education, etc. As an industry disruptor, ATRenew’s platform capabilities and digital tools also empower a wide range of medium and small businesses owners across China.

On January 21, Chinese authorities unveiled a master plan (full text in Chinese ) on boosting the green transformation of consumption in key areas, the latest move for the country to achieve its carbon peak and neutrality goals. The plan, jointly released by the National Development and Reform Commission and six other government organs, requires strengthening the support of green consumption technology and services, and expanding channels for sharing and reusing idle resources and goods. It also urges to optimize markets for transacting pre-owned home appliances, consumer electronics and clothing, and to standardize rules of online platforms and credit management of such transactions. It also encourages the development of quality inspection centers and third-party quality check laboratories.