SHANGHAI, Dec. 3, 2024
/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 it has been recognized
by the United Nations Global Compact's ("UNGC") "Forward Faster: 20
Examples of Private Sector's Sustainable Development in
China" campaign (the "Campaign").
This prestigious acknowledgment highlights ATRenew's commitment to
environmental, social, and governance (ESG) practices, and
reaffirms the Company's role as a transformative force in the
development of China's circular
economy.
The Campaign, launched with the support of the University of
Nottingham Ningbo China, comes as part of the UNGC's celebration of
the 20th anniversary of the ESG concept. ATRenew was one of 20
companies selected from a pool of 75 candidates following a
rigorous four-month evaluation process. The selection committee,
comprising high-level representatives from the UN system and
academic experts, chose ATRenew based on its exemplary performance
in adhering to ESG principles while maintaining economic viability,
operability, replicability, innovation, and inclusivity.
Kerry Xuefeng Chen, Founder,
Chairman, and Chief Executive Officer of ATRenew, commented,
"We are honored that our
practice of promoting ESG and sustainable development has
been included in the United Nations Global Compact's 20 case
examples. This achievement not only validates our
mission to give a second life to all idle goods but also
demonstrates our commitment to ESG principles. As we continue to
drive the development of the circular economy in China through our innovative recycling and
trade-in services, we remain dedicated to creating long-term value
for our stakeholders and contributing to a brighter future for
all."
ATRenew's recognition in this campaign underscores the Company's
pivotal contribution to sustainable practices within China's private sector. By facilitating the
recycling and trade-in of electronic devices and other consumer
goods to prolong their lifecycle, ATRenew plays a key role in
reducing electronic waste and demonstrating the potential of the
circular economy.
As a participant in the UNGC, ATRenew remains committed to its
principles-based approach to responsible business. The Company will
continue to integrate sustainable practices into its operations and
strive for continuous improvement in its ESG performance.
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. ATRenew is a participant
in the United Nations Global Compact, and adheres to its
principles-based approach to responsible business.
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
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.
Investor Relations 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.