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RERE.US Corporate Blog – June 2025
Below is a summary of the recent business development of the Company and the industry headlines in June 2025. Regarding the operational metrics, please refer to the Company’s quarterly earnings release and its filings with the U.S. SEC.
Key highlights
In June, AHS Recycle added a net total of 20 new self-operated standard stores in cities such as Chongqing, Chengdu, Changsha, Nanjing, Shanghai, and Shenzhen. At the same time, it strengthened partnerships with local business owners in provinces including Guangdong, Guangxi, Zhejiang, Jiangsu, Henan, Hubei, Guizhou, Anhui, Shandong, Liaoning, and Xinjiang, adding a net total of 26 new franchised standard stores. This expansion enhances AHS Recycle’s fulfillment capabilities for users in broader markets.
ATRenew released its 2024 Environmental, Social, and Governance (ESG) Report, setting carbon reduction targets for the first time. The company aims to reduce Scope 1 and Scope 2 greenhouse gas emissions intensity by 35% and Scope 3 emissions intensity by 50% by 2030, using 2024 as the baseline. Overall employee satisfaction improved from 4.64/5 in 2023 to 4.71/5 in 2024, reflecting stronger employee recognition of the positive and motivating work environment. Throughout the year, the Risk Management Committee held seven meetings, effectively identifying and resolving 24 risk issues. Additionally, the company achieved 100% remediation of SOX internal control deficiencies, demonstrating its standardized and rigorous management capabilities.
The 3rd China Corporate Carbon Neutrality Performance Awards were officially announced, with 24 outstanding companies recognized across four major awards for their exceptional contributions to carbon neutrality and high-quality development. ATRenew was honored with the Green Innovation Performance Award. The Green Innovation Performance Award recognizes enterprises that actively advance sustainable development goals in carbon neutrality, demonstrating pioneering models and industry-leading standards.
Industry news
National subsidy for trade-in programs to continue with phased central funding disbursement
On June 20, Xinhua News Agency reported that the policy to expand and strengthen consumer trade-in programs remains unchanged, with subsidy utilization progressing as expected, citing sources from relevant government bodies. The central government will allocate additional funds in the third and fourth quarters of 2025. Earlier this year, two batches totaling 162 billion yuan were disbursed in January and April to support local governments in implementing trade-in initiatives during the first and second quarters of 2025. An additional 138 billion yuan will be distributed in an orderly manner across the third and fourth quarters in 2025.
Apple joins China’s trade-in subsidy program through direct retail
On June 24, Apple announced on its official website in mainland China that select products would qualify for national subsidies, offering savings of up to 2,000 yuan. The promotion is exclusively available at the Apple Store Online (with Beijing delivery addresses) and physical retail stores in Shanghai. This marks the first time Apple's direct sales channels in China have participated in the national trade-in subsidy program.