SHANGHAI, Aug. 17, 2021
/PRNewswire/ -- AiHuiShou International Co. Ltd. ("ATRenew" or the
"Company") (NYSE: RERE), a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China, published its first
environmental, social, and governance ("ESG") report on
August 17, 2021, highlighting the
company's long-term initiatives focused on improving its
environmental impact and furthering its social contributions in
2020.
Established in 2011, ATRenew's mission is 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 while distributing the devices to prolong their
lifecycle. The Company is committed to improving the sustainability
and standardization of the consumer electronics industry by
mitigating the environmental impact of discarded consumer goods,
integrating sustainable business practices and corporate social
responsibility into its daily operations.
Mr. Kerry Xuefeng Chen, Founder
and Chief Executive Officer of ATRenew, commented, "ESG framework
is at the very core of our mission. As one of the first movers in
the global circular economy and pre-owned consumer electronics
industry, we took the initiative to release our first ESG report in
response to the Chinese government's peak carbon emissions and
carbon neutrality goals to strive for a pace of sustainable
development on par with international markets. We are confident
that we can make a difference not only as an industry leader, but
also as a socially responsible organization that continuously
allocates resources to achieving continued improvements in reducing
the environmental impact of consumer electronics, achieving
sustainability across our entire value-chain, and making greater
contributions to the society."
ESG Report Highlights:
1. Prioritize user
privacy and strengthen data security
At ATRenew, protecting personal data and privacy for consumers
is a top priority. The Company's collection and use of personal
data is in strict compliance with the Law of the People's Republic of China on the
Protection of Consumer Rights and Interests, the Data Security Law
of the People's Republic of
China, the Measures for the Determination of the
Collection and Use of Personal Information by APPs, and other
relevant national laws and regulations. In addition, the Company's
internal service protocols, such as the AiHuiShou[1]
Privacy Policy, have been further optimized to effectively
protect the "notice and consent" rights of our users. As a tangible
step to further safeguard the personal information and privacy of
customers, the AiHuiShou Data Grading and Classification
Standards stipulates the methods of classifying user data by
level of sensitivity and the criteria for storing and accessing
data.
To address user concerns on information protection during the
device recycling process, ATRenew independently developed
AiQingChu, a system that performs fast and thorough data wiping.
The system repeats multiple overwriting and wiping processes on all
consumer electronics recycled through the Company's self-operated
stores and other collection channels, including JD.com, to prevent
potential leaks and malicious recovery of user data during the
circulation process. Research and development for AiQingChu began
in 2018, and the system was put into use a year later. Since then,
it has successfully wiped data on over 6 million mobile phones,
tablets, and laptops.
2. Promote
recycling and strive to become a leader in carbon reduction
Over the past decade, ATRenew has been unceasing in its efforts
to further the recycling and reuse of consumer electronics to
promote sustainability and lower carbon emissions across the
industry. The Company's business model is structured as an
end-to-end model for a circular economy. It is in line with
China's 14th Five-Year
Development Plan for the Circular Economy, which proposes to
"vigorously develop a circular economy, promote resource
conservation and recycling, and build a recycling system for waste
materials and foster a recycling-oriented society." The Company
makes every effort to contribute to the national goal of achieving
peak carbon emissions and carbon neutrality by leveraging the
Company's platforms and technologies.
The Company regards the national pledge to peak emissions and
carbon neutrality as its own responsibility, as well as an
opportunity for the development of the pre-owned consumer
electronics industry. The Company endeavors to build a greener
supply chain with a lower carbon footprint. While becoming a
leading carbon-neutral company and a benchmark of carbon footprint
management in the industry, the Company intends to use its services
across the supply chain to inspire a wider range of business
partners to jointly fulfill the target of carbon neutrality.
3. Establish a
high-caliber ESG Committee
The ESG Committee has been established to systematically manage
the Company's environmental, social and governance initiatives, and
reports to the board of directors. The Company aims to maintain
transparent and timely communication regarding its efforts to
reduce greenhouse gas emissions and the carbon footprint of entire
product life cycle; improve human resource management, products,
and services; and enhance information security. The Company aspires
to integrate its operations into the circular economy through its
C2B, B2B, and B2C closed-loop value chain for pre-owned consumer
electronics transactions and services. Considering the Company's
current operations, strategic development goals, and best practices
from third-parties, the Company has identified the following
priorities for ESG management at the current stage: 1)
Environmental: carbon emissions reduction and pre-owned electronic
devices recycling; 2) Social: industry self-discipline, employee
development, and social welfare; and 3) Corporate Governance:
top-level governance and information security management. The list
of ESG priorities will be evaluated and updated at the beginning of
each year.
The Company looks forward to using its influence in the supply
chain to impact more business partners and industry participants to
jointly promote the sustainable development of the pre-owned
consumer electronics industry.
To view the report in full, please visit the ESG/Sustainability
section on ATRenew's Investor Relations website at
ir.aihuishou.com. Both English and Simplified Chinese versions are
available. The Company welcomes comments and questions at
ir@aihuishou.com as the Company aims to improve future ESG
performance and reporting.
[1] The Company rebranded
itself from "AiHuiShou" to "ATRenew" in 2020. As a result, internal
policies and standards made prior to this were named under the
brand "AiHuiShou".
About AiHuiShou International Co. Ltd.
Headquartered in Shanghai,
AiHuiShou International Co. Ltd. ("ATRenew") (NYSE: RERE) operates
a leading technology-driven pre-owned consumer electronics
transactions and services platform in China under the brand ATRenew, which stands
for "All Things Renew." 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.
Investor Relations Contact
In China:
AiHuiShou International Co. Ltd.
Investor Relations
Email: ir@aihuishou.com
In the United States:
ICR, LLC
Email: aihuishou@icrinc.com
Tel: +1-212-537-0461
View original
content:https://www.prnewswire.com/news-releases/aihuishou-international-co-ltd-publishes-first-esg-report-301356588.html
SOURCE AiHuiShou International Co. Ltd.