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RERE.US Corporate Blog – December 2024
Below is a summary of the recent business development of the Company and the industry headlines in December 2024. Regarding the operational metrics, please refer to the Company’s quarterly earnings release and its filings with the U.S. SEC.
Key highlights
In December, the number of self-operated standard AHS stores increased by nearly 40, and the number of franchised standard AHS stores increased by about 90, gearing up the pace of expanding order fulfillment network nationwide. AHS Recycle has set a goal of “establishing a 5,000-store nationwide recycling service network and building up a 5,000-pax doorstep recycling engineer team in three years” to strive for building a solid recycling service capability infrastructure.
As part of the multi-category recycling initiatives, AHS Recycle has officially launched its game account recycling service. The first batch of services supports the recycling of Tencent/QQ Zone game accounts, including Honor of Kings, Peacekeeper Elite, and Naruto. This service involves online assessment and bidding by hundreds of business owners. Users receive pricings in 15 minutes, enjoy one-on-one customer service while cashing out their “virtual assets.”
Industry news
The Ministry of Commerce and four other departments jointly issued the “Pilot Work Plan for the Circulation of Second-hand Goods”
In December, the Ministry of Commerce and four other departments jointly issued the “Pilot Work Plan for the Circulation of Second-hand Goods”, aiming to form a number of replicable and promotable typical cases of second-hand goods circulation through a three-year pilot program. This will further advance the policy system for the circulation of second-hand goods and enhance the professional, standardized, distinctive, and branded operation levels of second-hand goods trading markets and corporates. Provincial-level commerce authorities, in conjunction with relevant departments, will organize the application work for pilot cities and corporates, and submit implementation plans to the Ministry of Commerce before January 24, 2025.