Wikipedia

ATRenew

ATRenew (formerly known as AiHuiShou) is a Chinese circular economy company established in 2011 and headquartered in Shanghai, founded by Kerry Xuefeng Chen.[2]

ATRenew Inc.
Native name
万物新生
FormerlyAiHuiShou
Company typePublic
Industry
Recommerce
Founded2011; 13 years ago (2011)
Founder
Headquarters
Shanghai
,
China
RevenueIncrease CN¥13.0 billion (2023)[1]
Number of employees
2,000+ (2024)
Websitewww.atrenew.com/en-us/
AHS Recycle store at MEGA, Shanghai Nanxiang Impression City

ATRenew operates two main business systems: the second-hand product trade and service system, and the urban green industry chain business. It has been endorsed as the "first ESG-related China concept stock" since its debut on the NYSE in June 2021.[3]

History edit

AiHuiShou, later rebranded as ATRenew, was officially launched in 2011.[4] It focuses on the recycling of electronics such as mobile phones and laptops.

In 2015, AiHuiShou began its collaboration on trade-in programs with e-commerce platforms, including JD.com, and consumer electronics brands such as Xiaomi.[5]

In 2017, AiHuiShou started automizing its operation system and built an operation center in Changzhou, allegedly the world's first automated transportation, quality inspection, sorting and storage system of non-standardized pre-owned electronic products.[5]

In 2018, AiHuiShou launched its B2B trading platform for pre-owned consumer electronics PJT Marketplace.[6] In July of the same year, AiHuiShou announced its new and the largest round of financing in the global second-hand electronics industry of $150 million, exclusively led by Tiger Global Management and co-invested by JD.com, with its valuation at over $1.5 billion.[7]

In June 2019, AiHuiShou integrated JD.com’s Paipai Marketplace.[4] Following the integration, AiHuiShou started managing the second-hand, idle, inventory, and resale businesses of 3C categories on JD.com.[8]

On September 22, 2020, AiHuiShou was rebranded as All Things Renew (ATRenew).[4] On June 18, 2021, ATRenew went public on the NYSE (NYSE: RERE), endorsed as the "first ESG-related China concept stock."[3][9]

In the second quarter of 2022, ATRenew invested heavily on its "multi-category" strategy. The business provides recycling services of photographic equipment, bags, watches, gold, prestige liquors, shoes, and other categories in physical stores.[citation needed] By the end of 2022, ATRenew has eight major regional operation centers, located in Dongguan, Changzhou, Wuhan, Chengdu, Tianjin, Xi'an, Shenyang, and Hong Kong.[5]

In June 2023, ATRenew began collaborating with Apple Inc. for its recycling and trade-in services at Apple’s official website and offline flagship stores in China.[10] In the same year, ATRenew joined the United Nations Global Compact (UNGC).[11]

Technology edit

Some of ATRenew's proprietary technological solutions include:[12]

  • Camera Box 3.0: intelligent mobile phone appearance inspection device
  • 007: a module for function inspection which automatically conducts functional tests for hardware
  • X-Ray: a module for dismantling and repairing inspection which conducts non-invasive laser scanning to examine the internal components of a phone

Recognition edit

  • ATRenew’s proprietary data erasure system AiQingChu has obtained ADISA Certification, making ATRenew the only one amongst Chinese second-hand consumer electronics trading platforms.[13] It supports over 20 different international mainstream standards.[12] Currently, the ADISA-certified AiQingChu is applied in more than 1800 AHS stores and ATRenew’s all 8 major operation centers in China.[13]
  • In September 2022, ATRenew was rated 17.6 by ESG rating agency Morningstar Sustainalytics, classified as “low risk." It ranks fourth among a total of 85 companies in the Online and Direct Marketing Retail sector.[14]
  • In November 2023, ATRenew was "highly commended" by the judging panel at the Reuters’ Global Business Responsibility Awards in the “Circular Transition” category alongside Oracle, Schneider Electric, and PepsiCo.[15]

Business lines edit

AHS Recycle edit

AHS Recycle is a C2B recycling and trade-in platform which provides recycling service to consumers and partners with JD.com and Apple for trade-in service. As of the end of 2023, AHS Recycle is present in 268 cities in China through 1,819 AHS stores offline.[6]

PJT Marketplace edit

PJT Marketplace is a B2B platform is a platform that allows businesses to buy and sell secondhand electronics. It provides price assessment services to both buyers and sellers on the platform.[7][16]

Paipai Marketplace edit

Paipai Marketplace has taken over the second-hand, idle, inventory, and resale businesses of 3C categories on JD.com. It is a B2C retail platform for the re-commercialization of premium pre-owned consumer devices.[8][16]

AHS Device edit

AHS Device is the overseas business of ATRenew, which operates in Southeast Asia, Latin America, Africa, etc. It has made investments in mobile phone recycling companies including India’s Cashify and Brazil’s Trocafone.[7] AHD Device has placed self-service recycling kiosks in partnership with Janpara in Japan, and with Finland-based Swappie in Sweden.[17]

LOVERE edit

LOVERE (AiFenLei) focuses on garbage sorting and trash recycling, offering financial incentives to encourage households to recycle more.[4] It provides intelligent recycling machines and offers waste management solutions to promote recycling and sorting.[18] The LOVERE intelligent recycling kiosks accept recyclable waste, and reward those who use them with credits on the WeChat app.[19]

References edit

  1. ^ https://ir.atrenew.com/node/7376/html
  2. ^ "ATRenew Inc. (RERE)". Yahoo Finance.
  3. ^ a b Beese, Matthew (2021-07-01). "Cathay Capital Backs the NYSE IPO of ATRenew, One of the Pioneers of the Circular Economy in China". Cathay Capital. Retrieved 2024-04-17.
  4. ^ a b c d Lu, Agnes Xueer (2020-09-22). "Recycling Unicorn AiHuiShou Completes E+ Round of Financing, Releases New Group Name "All Things Renew"". Pandaily. Retrieved 2024-04-17.
  5. ^ a b c "20-F". www.sec.gov. Retrieved 2024-04-19.
  6. ^ a b "Kerry Xuefeng Chen - ATRenew - Leading the "Internet + Environmental Protection" Circular Economy - ValiantCEO". 2022-01-06. Retrieved 2024-04-25.
  7. ^ a b c Yuan, Li. "China's new unicorn: Secondhand electronics platform Aihuishou now worth US$1.5 billion". CompassList. Retrieved 2024-04-25.
  8. ^ a b Lee, Emma (2019-06-04). "JD.com merges used goods platform Paipai with Aihuishou in recycling push · TechNode". TechNode. Retrieved 2024-04-25.
  9. ^ BERNAMA (2021-06-21). "GTJAI ASSISTS ATRENEW DEBUT ON NEW YORK STOCK EXCHANGE". BERNAMA. Retrieved 2024-04-17.
  10. ^ Pandaily (2023-06-30). "ATRenew Becomes a Partner of Apple's 'Trade-in' Service". Pandaily. Retrieved 2024-04-19.
  11. ^ "Aihuishou International Ltd ADR (RERE-N) Quote - Press Release". The Globe and Mail. 2024-04-29. Retrieved 2024-04-29.
  12. ^ a b Brunn, Michael (2022-08-08). ""The pre-owned electronics market still has room to develop and grow"". RECYCLING magazine. Retrieved 2024-04-22.
  13. ^ a b Thompson, David. "The Revolving World of Electronics: A Dialogue with ATRenew's Kerry Chen".
  14. ^ "Aihuishou International Ltd ADR (RERE-N) Quote - Press Release". The Globe and Mail. 2024-04-19. Retrieved 2024-04-22.
  15. ^ "Sustainability Awards 2024". events.reutersevents.com. Retrieved 2024-04-19.
  16. ^ a b Pandaily (2021-11-23). "ATRenew Inc.: Is There a Great Story to Tell?". Pandaily. Retrieved 2024-04-25.
  17. ^ Taylor, Brian. "ATRenew seeks global growth path". Recycling Today.
  18. ^ "AiFenLei - Company Profile - Tracxn". tracxn.com. 2024-03-01. Retrieved 2024-04-25.
  19. ^ "Partnership with LOVERE". endplasticwaste.org. Retrieved 2024-04-25.

External links edit

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