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RERE.US Corporate Blog – September 2023
Below is a summary of the recent business development of the Company and the industry headlines in September 2023. Regarding the operational metrics, please refer to the Company’s quarterly earnings release and its filings with the U.S. SEC.
Operational update
In September, AHS Recycle has added 9 self-operated standard stores, mainly located in popular shopping malls in Hangzhou, Changsha and Dongguan, and has added 14 franchise standard stores in mid-tier cities in Southwest China and Central China. The new store opening nationwide enhances user awareness of AHS Recycle as it offers a wider array of recycling and circulation services for used goods.
AHS Recycle now supports trade-in programs for Dyson’s hair care products. This is a step forward based on the established collaboration of supporting Dyson’s official recycling services, trade-in services and refurbished product sales. AHS Recycle also strives to take a step further to support cross-category trade-in, for users to trade in used smart phones and home appliances for new Dyson products, strengthening the in-depth cooperation between the two parties in the field of circular consumption.
The 2023 Paipai Business Owner Conference in Chongqing was held in success, aiming to provide merchants with online expert community Q&A interaction and offline boot camps. In addition, the conference also offered traffic support and service fee discounts for a range of product categories while absorbing new merchant users. This conference aimed at providing a variety of operational capability empowerment to second-hand business owners.
PJT Marketplace launched a special laptop retail section, offering open auctions and bidding every afternoon. The products cover popular models from mainstream brands, making it easier for merchants to purchase laptops with better quality that are suitable for retail. There was also an upgrade related to POP prepayment. The basic quota of prepayment is based on the merchant's transaction volume and credit grading, and the temporary quota is unveiled for high-quality merchants. Merchants can also adjust the margin level based on their transaction activities to flexibly manage their capital needs.
Key highlights
ATRenew joins the United Nations Global Compact, becoming a pioneer of sustainability commitments
ATRenew announced that it has joined the United Nations Global Compact (the “UNGC”) initiative and its commitment to the UNGC’s ten universally accepted principles in the areas of human rights, labor, environment, and anti-corruption. ATRenew has become the first corporate member of China’s pre-owned consumer electronics industry to join this initiative.
AHS Recycle urges educational accessibility and green recycling through public welfare initiatives
AHS Recycle and Tencent’s 99 Giving Day philanthropy campaign awarded “little safflowers” to users who recycle idle goods with AHS Recycle. The awarded users can support the “Recycling for Love” digital education philanthropy project which donates pre-owned electronic devices to diversify educational resources for school children in rural areas. AHS Recycle also supported World Cleanup Day 2023 and called on Chinese residents to participate in garbage picking and sorting, and foster environmental protection responsibilities.
Industry news
Shanghai issues carbon inclusive management measures (trial)
On September 25th, the Shanghai Municipal Ecological Environment Bureau formulated and issued to all districts the “Shanghai Carbon Inclusive Management Measures (Trial)” to promote the formation of a green and low-carbon production lifestyle and ensure that Shanghai's carbon inclusive system is standardized and orderly run.