In October, AHS Recycle’s Dubai office and warehouse commenced trial operations, combining an offline showroom with the online FoneSquare platform to serve merchant customers across the Gulf region and surrounding markets. The launch follows ATRenew’s July unveiling of its “two-track” international strategy in Hong Kong, which introduced FoneSquare, a cross-border B2B trading platform for pre-owned consumer electronics serving global merchants, and identified Hong Kong, Dubai and Miami as three global trade hubs for building out distribution and automated quality inspection networks. With trial operations under way, the Dubai hub is set to support the circulation of pre-owned smartphones and consumer electronics across Middle Eastern and North African markets, extending the Company’s standardized inspection and digital trading capabilities overseas.

According to preliminary data from Counterpoint Research, China’s smartphone shipments declined 10% year-over-year in the third quarter of 2026, the lowest for a third quarter since 2012. Rising memory costs have pushed up device prices, prompting consumers to delay replacements, wait for promotions, or turn to secondhand and refurbished devices. Huawei and Apple captured 21.3% and 19.5% of the market respectively, together accounting for 40% of the new-device market and underscoring the advantage of strong premium product portfolios. The iPhone 18 Pro series posted 23.5% year-over-year sales growth in its first three weeks on sale in China.

In October, CCTV’s finance channel reported on China’s pre-owned smartphone market, featuring the Shenzhen flagship store of PJT Marketplace, ATRenew’s domestic B2B trading platform. The report showcased the store’s standardized quality inspection and transparent distribution system, illustrating how the Company’s standardized capabilities help upgrade the pre-owned 3C industry and advance the circular economy by giving idle devices a second life. According to the report, in the first three quarters of 2026, China’s pre-owned smartphone market grew faster than the new-device market.