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RERE.US Corporate Blog – December 2022
Below is a summary of the recent business development of the Company and the industry headlines in December 2022. Regarding the operational metrics, please refer to the Company’s quarterly earnings release and its filings with the U.S. SEC.
Operational update
In December, AHS Recycle opened a net of 12 joint-operated standard stores in North China and Northwest China and a net of 18 joint-operated store-in-stores in Southwest and North China. As of the end of December 2022, the total number of joint-operated AHS stores in China exceeded 1,300, reaching a doubled recycling network density in low- and middle-tier cities. This has also increased the popularity of AHS Recycle brand among its users, the recycling awareness among consumers, the recycling penetration rate as well as accessibility of quality products.
In December, AHS Recycle launched “recycle idle shoes and clothes for gifts” initiatives across 13 AHS stores in Beijing and Shanghai. Green recycling credits were awarded to users either on a piece-by-piece basis or by weight based on the condition and brands of their idle clothes and shoes, making it more convenient and practical to participate in environmental protection recycling. Users can exchange the awarded credits for souvenirs such as thermos cups, carry cups, and wireless chargers.
Key highlights
Focusing on the multi-category strategy, ATRenew further upgraded its organizational structure
On December 1, to build AHS Recycle into the most premium recycling brand in China while prioritizing new recycling categories in the coming seasons, ATRenew announced internally that the Company further upgraded its organizational structure. For backbone businesses around consumer electronics, including smartphones, tablets, and laptops, the Company’s existing platform capabilities will continue to function as a core growth driver. As for the emerging categories, such as pre-owned luxury goods, camera equipment, and gold, ATRenew assigns its storefront function to ensure consumer service excellence and aligns the targets across recycling, processing, and distributing functions with dedicated multi-category business strategy, so as to achieve rapid development.
ATRenew won the “Best ESG Award” issued by Zhitong Caijing (智通财经)
On December 19, the “7th Zhitong Caijing Public Company Awards” was held in Hangzhou where ATRenew won the “Best ESG Award”. The “Best ESG Award” recognized outperforming companies in 2022, especially against the COVID-19 resurgence, that continued adhering to customer centricity and fulfilling employer and social responsibilities. The award praised Hong Kong and US-listed companies that have communicated with global stakeholders while creating long-term value for society, the environment, shareholders, customers, employees and partners. More than 1,000 Hong Kong and US-listed companies from multiple industries participated in the selection this year.
Industry news releases key consumption trends in 2022 - trade-in option became increasingly popular on
According to JD Research Institute for Consumption and Industrial Development, more prudent and well-planned shopping decisions became one of the key trends among Chinese consumers in 2022 while value-for-money products and services were trending. In terms of electrics and home appliance consumption, JD’s data shows that in the first three quarters of 2022,’s orders for new mobile phones through trade-in increased by 240% year-on-year; orders for computer digital products through trade-in surged by 373% year-on-year; and orders for home appliances trade-in jumped by over 359% year-on-year, enabling over one million households to replace old home appliances with new ones.