ATRenew Announces Grand Opening of Paijitang Flagship Store in Shenzhen

Rhea-AI Summary

ATRenew (NYSE: RERE) has launched its Paijitang flagship store in Huaqiangbei, Shenzhen's premier electronics trade hub. The store showcases nearly 10,000 professionally inspected smartphones and operates as a front-end distribution center using a warehouse-to-retail model.

The store enhances ATRenew's B2B trading platform, Paijitang, which serves over 850,000 small and medium-sized businesses across China. The new model allows buyers to browse inventory, inspect devices, and complete purchases onsite, reducing inventory costs and cutting logistics delays by 3 to 5 days. This offline expansion complements their online platform, promoting industry standardization in the pre-owned consumer electronics market.

Positive

• New flagship store expands physical presence in key electronics hub
• Reduces logistics delays by 3-5 days
• Large inventory of 10,000 professionally inspected smartphones
• Serves extensive network of 850,000 SMB customers

Negative

• None.

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SHANGHAI, March 31, 2025 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the "Company") (NYSE: RERE), a leading technology-driven platform for pre-owned consumer electronics transactions and services in China, today launched the grand opening of its Paijitang flagship store in Shenzhen. Located in Huaqiangbei, the country's premier electronics trade hub, the store features nearly 10,000 professionally inspected smartphones, setting a new benchmark for transparency in the second-hand electronics market.

Paijitang, ATRenew's B2B trading platform, provides standardized and efficient transaction services to over 850,000 small and medium-sized businesses across China. The launch of its offline store enhances the platform's seamless online-to-offline integration, driving industry standardization and expansion.

"As a front-end distribution center, the Paijitang flagship store operates on a 'warehouse-to-retail model,' which enables buyers to browse inventory, inspect devices, and complete purchases onsite—helping businesses reduce inventory costs and minimizing logistics delays by 3 to 5 days," said Mr. Kerry Xuefeng Chen, Founder, Chairman, and CEO of ATRenew. "By offering a compliant and efficient sourcing solution, we are committed to fostering the long-term, sustainable growth of the pre-owned electronics industry."

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

View original content:https://www.prnewswire.com/news-releases/atrenew-announces-grand-opening-of-paijitang-flagship-store-in-shenzhen-302415453.html

SOURCE ATRenew Inc.

FAQ

What is the significance of ATRenew's (RERE) new Paijitang flagship store in Shenzhen?

The store showcases 10,000 inspected smartphones in Huaqiangbei electronics hub, serving as a distribution center that reduces logistics delays by 3-5 days and enhances B2B trading efficiency.

How many businesses does ATRenew's (RERE) Paijitang platform serve in China?

Paijitang serves over 850,000 small and medium-sized businesses across China with standardized transaction services.

What operational model does ATRenew's (RERE) new Shenzhen store use?

The store operates on a 'warehouse-to-retail model' allowing buyers to browse inventory, inspect devices, and complete purchases onsite.

How much does the new Paijitang store reduce logistics delays for RERE's operations?

The store's warehouse-to-retail model reduces logistics delays by 3 to 5 days.