In May, AHS Recycle strengthened its service coverage by opening 25 self-operated stores in key cities, including Shanghai, Beijing, Guangzhou, and Jinan. Simultaneously, it launched 28 franchised stores across Jiangsu, Zhejiang, Guangdong, Hubei, Henan, Hebei, Anhui, and Jilin provinces. This expansion in user touchpoints systematically increases nationwide service accessibility.

ATRenew released its 1Q25 financial results, demonstrating an efficient trade-in supply chain capability that boosts consumption. The company reported that its quarterly revenue exceeded RMB 4.65 billion, a 27.5% year-over-year increase, surpassing the high end of its guidance. Product revenue from its 1P business grew 28.8% YoY, driven by industry-leading fulfillment capabilities and rapid growth in retail revenue. Notably, AHS Recycle, in partnership with JD.com, delivered a best-in-class trade-in user experience, strongly supporting the national subsidy policy aimed at stimulating consumption. Service revenue rose 14.2% YoY, with multi-category recycling service revenue nearly doubling. This performance validates the diversified service capabilities of the AHS Recycle brand and its offline stores.

According to the Ministry of Commerce, China’s 2025 trade-in program for consumer goods across five major categories generated 1.1 trillion yuan in sales and distributed approximately 175 million subsidies directly to consumers, as of May 31, 2025. Among these, over 53 million consumers purchased nearly 57 million new mobile phones and electronic products through the trade-in program. Multiple regions have streamlined procedures to reduce upfront subsidy burdens on participating corporates, standardize pricing practices, and improve trade-in efficiency.