ATRenew Named as Finalist in Reuters' Responsible Business Awards 2023

SHANGHAI,Aug. 11,2023 -- 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 named as a finalist for the Circular Transition Award in Reuters' Responsible Business Awards 2023. ATRenew was selected in recognition of its innovation and development of the circular economy,and specifically for its expertise in pre-owned product transactions and services.

Reuters' Responsible Business Awards recognize sustainable business leadership worldwide. The awards celebrate outstanding sustainable development strategies by highlighting companies that have a genuine impact on business,society,and the environment. The Circular Transition Award will go to a company that has adopted a technology,initiative,or project that assists the business in moving from a linear model to a circular one. The award is granted based on data,disclosures,and investments which highlight this emphasis on circularity,and it is important that the circular model be scalable across the business and potentially across the entire relevant sector. Reuters will announce the winner at a ceremony in London on November 1,2023.

Mr. Kerry Xuefeng Chen,Founder,Chairman,and Chief Executive Officer of ATRenew,commented,"We are proud to be recognized as a leader in the circular economy,and are excited to hear that we have been named as a finalist for Reuters' Circular Transition Award. This recognition is an acknowledgment of our commitment to sustainable development,and to our passion for the future growth of the circular economy in China and across the globe. As we continue to innovate and expand our business,we are excited to be able to contribute to the advancement of environmentally responsible business practices and drive sustainable economic growth."

ATRenew has a rich history of pioneering sustainable solutions. The Company's core business involves the recycling and reuse of pre-owned consumer electronics,and has recently expanded to a wide range of product categories including luxury handbags,camera equipment,and gold. ATRenew is dedicated to establishing a comprehensive circular system to break the cycle of waste,and aims to replace this linear approach with one that prolongs the life-cycle of existing products. In doing so,the Company hopes to reduce carbon emissions,cut down on pollution,and ultimately leave a positive impact on the environment and society.

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.

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