ATRenew Inc. is a recommerce platform in China specializing in the recycling, refurbishment, and resale of pre-owned consumer electronics. Founded in 2011, the company operates an integrated online and offline business model that encompasses C2B, B2B, and B2C transactions. ATRenew sources used electronics directly from consumers through its AHS Recycle brand, which operates a network of offline stores and self-service kiosks across China, as well as through online trade-in programs in partnership with e-commerce platforms like JD.com and various smartphone manufacturers.
The company generates the majority of its revenue—approximately 92% in 2025—from net product revenues, which consist of the direct sale of pre-owned consumer electronics through its proprietary platforms such as PJT Marketplace (a B2B trading platform) and Paipai Marketplace (a B2C retail platform). The remaining 8% of revenue comes from net service revenues, which include commission fees charged to third-party merchants for using its marketplaces and services related to its multi-category recycling business. By utilizing proprietary inspection, grading, and pricing technologies, ATRenew standardizes the transaction process in the second-hand electronics market. The company's strategic partnership with JD.com provides an additional channel for sourcing and distributing pre-owned devices.
