In August, the number of jointly-operated AHS stores increased by 77. ATRenew continues prioritizing the cooperative store (shop-in-shop) model to strengthen penetration in the lower-tier cities in central China, thus providing a wider range of Chinese consumers with electronics product recycling services. These stores also strengthen consumer awareness of the brand name of AHS Recycle and green consumption through recycling and reuse.

ATRenew partnered with a leading pre-owned product transactions operator in Japan. By placing the upgraded proprietary smartphone recycling kiosks in its partner’s stores in Tokyo, ATRenew made a step forward in empowering its partners overseas with electronics recycling and inspection capabilities. ATRenew aims to establish such collaboration in more economies and accelerate the circulation of pre-owned electronic gadgets through technology empowerment.

PJT Marketplace slightly reduced the logistics fee subsidy for buyers and POP sellers since September 1 as it optimizes customer services. The flexibility in fee adjustment reflects the trust and stickiness of the merchant users and an improved monetization capability.

On August 2, ATRenew held its 2022 Investor Day on Zoom webinar, vividly demonstrating its business capabilities of AHS Recycle (C2B), PJT Marketplace (B2B), and Paipai Marketplace (B2C). The webinar included virtual tours of a physical AHS store and the automated operation in Changzhou, an interview with a PJT Marketplace merchant user representative, and a live Q&A session regarding business strategy with senior management. This virtual investor day offered more comprehensive perspectives of the Company. Feel free to send an email to ir@atrenew.com for webinar replay.

On August 24, ATRenew released its earnings report for the second quarter of 2022, demonstrating a resilient growth momentum as its topline continues beating guidance. In the context of the Covid resurgence, ATRenew reported an increase of 14.9% year-on-year in total net revenues, reaching RMB2.15 billion in the quarter. Total GMV increased by 10.3% to RMB8.6 billion yuan. The Company also reported a cash inflow from operating activities of RMB280 million and a comprehensive cash position of RMB2.6 billion, further solidifying the foundation for a sustainable and healthy development.

The Chinese edition of Harvard Business Review and FESCO jointly initiated a program to award new organizational management model and generate greater social value by expanding the influence of outstanding cases. As a result of its innovation and strategy execution abilities, ATRenew was acknowledged by both business and academia for its achievements in talent training, teamwork and organizational effectiveness, thus winning the award as a pre-owned consumer electronics industry representative.

Although most consumers have not yet "completely understood" the connotations and categories of environmental protection, they have already begun to practice green and environmental-friendly consumptions, mainly through trade-in services provided by multiple platforms, according to a survey by the Economic Daily and JD.com (link to the full data set in Chinese). Trade-in is not only a means to promote consumption upgrade, but also leads the formation of green consumption, in a way. Furthermore, the concept of "circular supply chain" derives from it.