Offline Stores and Platforms Will Continue to Support
the Circulation of Pre-owned Products During the New Year
Holiday
SHANGHAI, Jan. 17,
2023 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or
the "Company") (NYSE: RERE), a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China, today announced that its
core AHS Recycle, PJT Marketplace, and Paipai Marketplace
businesses will provide uninterrupted services during Chinese New
Year. ATRenew's offline stores, platforms, and fulfillment network
will continue to deliver premium recycling services to consumers
and merchant users throughout the festive period.
Mainland China's 2023 Chinese
New Year holiday takes place from January 21
to January 27. During the holiday, AHS Recycle and Paipai's
offline stores will modify their business hours to reflect shopping
malls' adjusted opening times, ensuring that users are seamlessly
provided with the full range of recycling channels: from in-store,
to door-to-door, to delivery. Furthermore, users who submit orders
during this period will still receive the Company's 10-day price
match pledge, guaranteeing they obtain the highest recycling price
during the holiday period. PJT Marketplace's core auction events
will continue to be held, and Paipai's online business will provide
uninterrupted delivery services throughout the holiday for the
fifth successive year. The Company's online platforms' pre- and
after-sales support will be fully available online, and operation
centers and city-level operation stations will collect and ship
goods as usual.
Mr. Kerry Xuefeng Chen, Founder,
Chairman, and Chief Executive Officer of ATRenew, commented, "We
fully recognize the strong demand from consumers to dispose of
superfluous possessions to welcome the Chinese New Year. To better
meet this demand, we launched our uninterrupted Chinese New Year
service at AHS offline stores in 2021, unceasingly providing our
customers with safe and convenient recycling services for
electronic devices during the holiday. For the holiday period, we
are expanding our uninterrupted service to multiple categories such
as luxury goods, gold, vintage liquor, and diamonds. This upgrade
will make it even more convenient for our customers to receive
cashback while continuing the tradition of 'out with the old and in
with the new'. Our platform business PJT Marketplace guarantees
fulfillment for our merchant users during the holiday, ensuring the
seamless circulation of pre-owned electronic devices. As a result,
small- and medium-sized businesses can generate a steady stream of
income by providing consumers with a 'new year savings' recycling
service for high-quality pre-owned devices through Paipai. As we
enter the Year of the Rabbit, we look forward to successfully
providing our users with an optimized and more accessible recycling
experience through our uninterrupted services during the festive
period."
About ATRenew Inc.
Headquartered in Shanghai,
ATRenew Inc. operates a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China under the brand ATRenew.
Since its inception in 2011, ATRenew has been on a mission to give
a second life to all idle goods, addressing the environmental
impact of pre-owned consumer electronics by facilitating recycling
and trade-in services, and distributing the devices to prolong
their lifecycle. ATRenew's open platform integrates C2B, B2B, and
B2C capabilities to empower its online and offline services.
Through its end-to-end coverage of the entire value chain and its
proprietary inspection, grading, and pricing technologies, ATRenew
sets the standard for China's
pre-owned consumer electronics industry.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. ATRenew may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about ATRenew's beliefs,
plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: ATRenew's
strategies; ATRenew's future business development, financial
condition and results of operations; ATRenew's ability to maintain
its relationship with major strategic investors; its ability to
provide facilitate pre-owned consumer electronics transactions and
provide relevant services; its ability to maintain and enhance the
recognition and reputation of its brand; general economic and
business conditions globally and in China and assumptions underlying or related to
any of the foregoing. Further information regarding these and other
risks is included in ATRenew's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and ATRenew does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
For more information, please contact:
In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com
In the United States:
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461
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SOURCE ATRenew Inc.