UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2024

 

Commission File Number: 001-40486

 

 

ATRenew Inc.

(Registrant’s Name)

 

 

12th Floor, No. 6 Building
433 Songhu Road, Shanghai
People’s Republic of China

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  Form 40-F 

 

 

 

 

---

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		ATRenew Inc. Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results
99.2		ATRenew Announces US$20 Million Share Repurchase Program

 

 

---

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

ATRenew Inc.

 

By:	/s/ Chen Chen
Name:	Chen Chen
Title:	Chief Financial Officer

 

Date: March 12, 2024

 

---

Exhibit 99.1

 

ATRenew Inc. Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results

 

SHANGHAI, March 12, 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 its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

 

Fourth Quarter 2023 Highlights

Full Year 2023 Highlights

Mr. Kerry Xuefeng Chen, Founder, Chairman, and Chief Executive Officer of ATRenew, commented, “We are delighted to report another quarter of record total net revenues, which exceeded the high-end of our fourth-quarter guidance. Our total revenue in 2023 increased by over 30% year-over-year to reach RMB13.0 billion. Our operational efficiency continued to enhance and led to a historical high in adjusted income from operations. This success came as we built premium user experience and trust, diligently developed trade-in solutions with e-commerce retailers and consumer electronics manufacturers, and as our innovative multi-category recycling services and refined pricing mechanisms won over more users. Looking into 2024, we have unflinching confidence in our core strategies, operational tactics, and the resilience of the circular economy.”

 

1. See “Reconciliations of GAAP and Non-GAAP Results” for more information.

2. “Number of consumer products transacted” represents the number of consumer products distributed to merchants and consumers through transactions on the Company’s PJT Marketplace, Paipai Marketplace and other channels the Company operates in a given period, prior to returns and cancellations, excluding the number of consumer products collected through AHS Recycle; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace, Paipai Marketplace and other channels the Company operates through the distribution process to end consumer.

 

---

Mr. Rex Chen, Chief Financial Officer of ATRenew, added, “In 2023, our adjusted income from operations totaled RMB251.7 million, driven by a balance between solid topline growth and effective cost controls. This year, we will continue to prioritize strengthening our capability and efficiency of the supply chain as we enhance our industry-leading position by disciplined investments in service quality upgrades, customer mindshare acquisition, and attractive recycling pricing. Today, we are pleased to announce a new share repurchase program, re-iterating our steadfast commitment to enhancing shareholder value.”

Fourth Quarter 2023 Financial Results

REVENUE

Total net revenues increased by 29.9% to RMB3,873.6 million (US$545.6 million) from RMB2,981.2 million in the same period of 2022.

OPERATING COSTS AND EXPENSES

Operating costs and expenses were RMB3,894.0 million (US$548.5 million), compared to RMB3,370.6 million in the same period of 2022, representing an increase of 15.5%.

 

---

LOSS FROM OPERATIONS

Loss from operations was RMB16.7 million (US$2.4 million), compared to RMB2,210.6 million in the same period of 2022.

Adjusted income from operations (non-GAAP) was RMB81.6 million (US$11.5 million), compared to RMB34.6 million in the same period of 2022.

NET (LOSS) INCOME

Net income was RMB2.8 million (US$0.4 million), compared to net loss of RMB2,151.2 million in the same period of 2022.

Adjusted net income (non-GAAP) was RMB91.0 million (US$12.8 million), compared to RMB22.5 million in the same period of 2022.

BASIC AND DILUTED NET INCOME PER ORDINARY SHARE

Basic and diluted net income per ordinary share were RMB0.02 (US$0.00), compared to negative RMB13.23 in the same period of 2022.

Adjusted basic and diluted net income per ordinary share (non-GAAP) were RMB0.57 (US$0.08), compared to RMB0.14 and RMB0.13 in the same period of 2022.

Full Year 2023 Financial Results

REVENUE

Total net revenues increased by 31.4% to RMB12,965.8 million (US$1,826.2 million) from RMB9,869.4 million in the full year of 2022.

OPERATING COSTS AND EXPENSES

Operating costs and expenses increased by 22.7% to RMB13,175.4 million (US$1,855.7 million) from RMB10,714.4 million in the full year of 2022.

---

LOSS FROM OPERATIONS

Loss from operations was RMB173.3 million (US$24.4 million), compared to RMB2,623.7 million in the full year of 2022.

Adjusted income from operations (non-GAAP) was RMB251.7 million (US$35.5 million), compared to RMB6.9 million in the full year of 2022.

NET LOSS

Net loss was RMB156.3 million (US$22.0 million), compared to RMB2,467.9 million in the full year of 2022.

Adjusted net income (non-GAAP) was RMB225.2 million (US$31.9 million), compared to RMB50.8 million in the full year of 2022.

BASIC AND DILUTED NET LOSS PER ORDINARY SHARE

Basic and diluted net loss per ordinary share were RMB0.96 (US$0.14), compared to RMB15.16 in the same period of 2022.

Adjusted basic and diluted net income per ordinary share (non-GAAP) were RMB1.39 (US$0.20), compared to RMB0.31 and RMB0.30 in the same period of 2022.

CASH AND CASH EQUIVALENTS, RESTRICTED CASH, SHORT-TERM INVESTMENTS AND FUNDS RECEIVABLE FROM THIRD PARTY PAYMENT SERVICE PROVIDERS

Cash and cash equivalents, restricted cash, short-term investments and funds receivable from third party payment service providers were RMB2,854.4 million (US$402.0 million) as of December 31, 2023, as compared to RMB2,802.1 million as of December 31, 2022.

Business Outlook

For the first quarter of 2024, the Company currently expects its total revenues to be between RMB3,550.0 million and RMB3,650.0 million, representing an increase of 23.6% to 27.1% year-over-year. This forecast only reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

---

Recent Development

On December 9, 2022, ATRenew announced an extension of its share repurchase program under which the Company may repurchase up to US$100 million of its shares for another twelve-month period starting from December 28, 2022, with all other terms unchanged. During the fourth quarter of 2023, the Company repurchased 4,545,365 American depositary shares (“ADSs”) in the open market at an average price of US$1.78 per ADS, with a total cash consideration of US$8.1 million. As of December 31, 2023, the Company had repurchased a total of 18,360,694 ADSs for approximately US$56.5 million under this share repurchase program.

On March 12, 2024, ATRenew announced a new share repurchase program under which the Company may repurchase up to US$20 million of its shares over a twelve-month period beginning on March 12, 2024.

Conference Call Information

The Company’s management will hold a conference call on Tuesday, March 12, 2024 at 08:00 A.M. Eastern Time (or 08:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:

 

International:		1-412-317-6061
United States Toll Free:		1-888-317-6003
Mainland China Toll Free:		4001-206115
Hong Kong Toll Free:		800-963976
Access Code:		2934540

 

The replay will be accessible through March 19, 2024 by dialing the following numbers:

 

International:		1-412-317-0088
United States Toll Free:		1-877-344-7529
Access Code:		6692659

 

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at ir.atrenew.com.

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.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 29, 2023.

 

---

Use of Non-GAAP Financial Measures

The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses adjusted income from operations, adjusted net income and adjusted net income per ordinary share as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Adjusted income from operations is loss from operations excluding the impact of the impairment loss of deferred cost, intangible assets and goodwill, share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income is net loss excluding the impact of the impairment loss of deferred cost, intangible assets and goodwill, share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of impairment loss of deferred cost and intangible assets and amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income per ordinary share is adjusted net income attributable to ordinary shareholders divided by weighted average number of shares used in calculating net loss per ordinary share.

The Company presents non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans. The Company believes that adjusted income from operations and adjusted net income help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that are included in loss from operations and net loss. The Company also believes that the use of non-GAAP financial measures facilitates investors’ assessment of the Company’s operating performance. The Company believes that adjusted income from operations and adjusted net income provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. The impairment loss of deferred cost, intangible assets and goodwill, share-based compensation expenses, amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of impairment loss of deferred cost and intangible assets and amortization of intangible assets and deferred cost resulting from assets and business acquisitions have been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company’s. In light of the foregoing limitations, the non-GAAP financial measures for the period should not be considered in isolation from or as an alternative to income from operations, net income, and net income attributable to ordinary shareholders per share, or other financial measures prepared in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliations of GAAP and Non-GAAP Results.”

 

---

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

 

---

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share and per share and otherwise noted)

 

		As of December 31,				As of December 31,
		2022				2023
		RMB				RMB				US$
ASSETS
Current assets:
Cash and cash equivalents			1,703,626				1,978,696				278,694
Restricted cash			—				210,000				29,578
Short-term investments			782,230				410,547				57,824
Amount due from related parties, net			115,501				89,592				12,619
Inventories			433,467				1,017,155				143,263
Funds receivable from third party payment service providers			316,277				253,107				35,649
Prepayments and other receivables, net			539,077				567,622				79,948
Total current assets			3,890,178				4,526,719				637,575
Non-current assets:
Amount due from related parties, net, non-current			180,000				—				—
Long-term investments			219,583				467,095				65,789
Property and equipment, net			118,600				148,223				20,877
Intangible assets, net			544,650				270,631				38,118
Other non-current assets			95,744				80,411				11,326
Total non-current assets			1,158,577				966,360				136,110
TOTAL ASSETS			5,048,755				5,493,079				773,685
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings			123,983				349,931				49,287
Accounts payable			73,335				532,293				74,972
Contract liabilities			195,369				119,715				16,862
Accrued expenses and other current liabilities			449,489				465,123				65,511
Accrued payroll and welfare			132,468				146,371				20,616
Amount due to related parties			47,604				78,032				10,991
Total current liabilities			1,022,248				1,691,465				238,239
Non-current liabilities:
Operating lease liabilities, non-current			33,523				22,495				3,168
Deferred tax liabilities			111,312				67,658				9,529
Total non-current liabilities			144,835				90,153				12,697
TOTAL LIABILITIES			1,167,083				1,781,618				250,936
TOTAL SHAREHOLDERS' EQUITY			3,881,672				3,711,461				522,749
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			5,048,755				5,493,079				773,685

 

---

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Amounts in thousands, except share and per share and otherwise noted)

 

		Three months ended December 31,												Years ended December 31,
		2022				2023								2022				2023
		RMB				RMB				US$				RMB				RMB				US$
Net revenues
Net product revenues			2,687,917				3,522,474				496,130				8,676,672				11,658,298				1,642,037
Net service revenues			293,256				351,098				49,451				1,192,752				1,307,484				184,155
Operating (expenses) income (1)(2)
Merchandise costs			(2,370,546	)			(3,149,968	)			(443,664	)			(7,596,613	)			(10,338,870	)			(1,456,199	)
Fulfillment expenses			(274,927	)			(301,081	)			(42,406	)			(1,123,495	)			(1,123,994	)			(158,311	)
Selling and marketing expenses			(594,027	)			(317,025	)			(44,652	)			(1,536,052	)			(1,250,860	)			(176,180	)
General and administrative expenses			(76,605	)			(62,187	)			(8,759	)			(230,421	)			(265,981	)			(37,463	)
Technology and content expenses			(54,456	)			(63,774	)			(8,982	)			(227,812	)			(195,679	)			(27,561	)
Other operating (loss) income, net			(1,305	)			3,752				528				41,238				36,264				5,108
Goodwill impairment loss			(1,819,926	)			—				—				(1,819,926	)			—				—
Loss from operations			(2,210,619	)			(16,711	)			(2,354	)			(2,623,657	)			(173,338	)			(24,414	)
Interest expense			(1,078	)			(1,558	)			(219	)			(6,163	)			(7,056	)			(994	)
Interest income			2,961				13,217				1,862				17,780				37,875				5,335
Other (loss) income, net			(13,678	)			832				117				38,791				(5,887	)			(829	)
Loss before income taxes and share of loss in equity method investments			(2,222,414	)			(4,220	)			(594	)			(2,573,249	)			(148,406	)			(20,902	)
Income tax benefits			71,476				8,923				1,257				111,783				42,530				5,990
Share of loss in equity method investments			(307	)			(1,925	)			(271	)			(6,471	)			(50,374	)			(7,095	)
Net (loss) income			(2,151,245	)			2,778				392				(2,467,937	)			(156,250	)			(22,007	)
Net (loss) income per ordinary share:
Basic			(13.23	)			0.02				0.00				(15.16	)			(0.96	)			(0.14	)
Diluted			(13.23	)			0.02				0.00				(15.16	)			(0.96	)			(0.14	)
Weighted average number of shares used in calculating net (loss) income per ordinary share
Basic			162,569,309				160,765,588				160,765,588				162,819,410				162,160,835				162,160,835
Diluted			162,569,309				160,765,588				160,765,588				162,819,410				162,160,835				162,160,835
Net (loss) income			(2,151,245	)			2,778				392				(2,467,937	)			(156,250	)			(22,007	)
Foreign currency translation adjustments			8,751				(7,014	)			(988	)			(30,032	)			8,883				1,251
Total comprehensive loss			(2,142,494	)			(4,236	)			(596	)			(2,497,969	)			(147,367	)			(20,756	)

 

---

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (CONTINUED)

(Amounts in thousands, except share and per share and otherwise noted)

 

		Three months ended December 31,												Years ended December 31,
		2022				2023								2022				2023
		RMB				RMB				US$				RMB				RMB				US$
(1) Includes share-based compensation expenses as follows:
Fulfillment expenses			(15,665	)			(5,480	)			(772	)			(44,088	)			(23,390	)			(3,294	)
Selling and marketing expenses			(12,025	)			(3,974	)			(560	)			(35,547	)			(17,240	)			(2,428	)
General and administrative expenses			(21,940	)			(16,974	)			(2,391	)			(72,270	)			(73,156	)			(10,304	)
Technology and content expenses			(7,970	)			(4,967	)			(700	)			(22,331	)			(20,616	)			(2,904	)
(2) Includes amortization of intangible assets and deferred cost resulting from assets and business acquisitions as follows:
Selling and marketing expenses			(88,747	)			(66,412	)			(9,354	)			(352,748	)			(288,749	)			(40,669	)
Technology and content expenses			(1,580	)			(482	)			(68	)			(6,320	)			(1,928	)			(272	)
(3) Includes impairment loss of deferred cost, intangible assets and goodwill as follows:
Selling and marketing expenses			(271,114	)			—				—				(271,114	)			—				—
Technology and content expenses			(6,217	)			—				—				(6,217	)			—				—
Goodwill impairment loss			(1,819,926	)			—				—				(1,819,926	)			—				—

 

---

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except share and per share and otherwise noted)

 

		Three months ended December 31,												Years ended December 31,
		2022				2023								2022				2023
		RMB				RMB				US$				RMB				RMB				US$
Loss from operations			(2,210,619	)			(16,711	)			(2,354	)			(2,623,657	)			(173,338	)			(24,414	)
Add:
Share-based compensation expenses			57,600				31,395				4,423				174,236				134,402				18,930
Amortization of intangible assets and deferred cost resulting from assets and business acquisitions			90,327				66,894				9,422				359,068				290,677				40,941
Impairment loss of deferred cost, intangible assets and goodwill			2,097,257				—				—				2,097,257				—				—
Adjusted income from operations (non-GAAP)			34,565				81,578				11,491				6,904				251,741				35,457
Net loss			(2,151,245	)			2,778				392				(2,467,937	)			(156,250	)			(22,007	)
Add:
Share-based compensation expenses			57,600				31,395				4,423				174,236				134,402				18,930
Amortization of intangible assets and deferred cost resulting from assets and business acquisitions			90,327				66,894				9,422				359,068				290,677				40,941
Impairment loss of deferred cost, intangible assets and goodwill			2,097,257				—				—				2,097,257				—				—
Less:
Tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions			(71,476	)			(10,047	)			(1,415	)			(111,783	)			(43,654	)			(5,990	)
Adjusted net income (non-GAAP)			22,463				91,020				12,822				50,841				225,175				31,874
Adjusted net income per ordinary share (non-GAAP):
Basic			0.14				0.57				0.08				0.31				1.39				0.20
Diluted			0.13				0.57				0.08				0.30				1.39				0.20
Weighted average number of shares used in calculating net loss per ordinary share
Basic			162,569,309				160,765,588				160,765,588				162,819,410				162,160,835				162,160,835
Diluted			169,321,970				160,765,588				160,765,588				170,702,595				162,160,835				162,160,835

 

---

Exhibit 99.2

ATRenew Announces US$20 Million Share Repurchase Program

 

SHANGHAI, March 12, 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 that its board of directors has authorized a share repurchase program, under which the Company may repurchase up to US$20 million of its shares over a twelve-month period.

 

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance.

 

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

---