ATRenew Inc. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>ATRenew Inc. (RERE) has submitted its 2023 annual report on Form 20-F, detailing its financial performance and corporate structure.</b>

AI Summary

ATRenew Inc. (RERE) filed a Foreign Annual Report (20-F) with the SEC on April 12, 2024. ATRenew Inc. (RERE) filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period ending December 31, 2023, and was filed on April 12, 2024. The company was formerly known as AiHuiShou International Co. Ltd. and AiHuiShou International Co., Ltd. The filing includes references to various financial instruments and share classes, including Series B, D, and E+ Convertible Redeemable Preferred Shares. Key dates and periods mentioned include 2018, 2019, 2021, 2022, and 2023, with specific events and share issuances noted.

Why It Matters

For investors and stakeholders tracking ATRenew Inc., this filing contains several important signals. This 20-F filing provides a comprehensive overview of ATRenew's financial position, operational activities, and corporate governance for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed information on share classes, former company names, and specific financial instruments offers insights into the company's historical evolution and capital structure, aiding in a deeper understanding of its financial complexities.

Risk Assessment

Risk Level: medium — ATRenew Inc. shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of information. However, without specific financial data or operational highlights within the provided text, it's difficult to assess the company's current financial health or growth trajectory, necessitating a medium risk assessment.

Analyst Insight

Investors should review the full 20-F filing to understand ATRenew's financial performance, risks, and strategic initiatives for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-12 — Filing Date (Filed as of date)
• 134 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• ATRenew Inc. (company) — Filer name
• RERE (company) — Ticker symbol
• AiHuiShou International Co. Ltd. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-12 (date) — Filing date
• Shanghai (location) — Business address city

FAQ

Industry Context

ATRenew Inc. operates in the retail sector, specifically focusing on the circular economy for pre-owned consumer electronics in China.

Regulatory Implications

As a foreign private issuer filing a Form 20-F, ATRenew Inc. complies with SEC regulations for annual reports, providing disclosures relevant to its operations and financial status.

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze ATRenew's competitive landscape and market position within China's pre-owned electronics market.
3. Assess the company's growth strategies and any disclosed risks or challenges for the upcoming fiscal year.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period end date for the 20-F filing.
• 2024-04-12: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — wo Class A ordinary shares, par value US$0.001 per share) RERE New York Stock Exch
• $ — re to the legal currency of China; "US$," "U.S. dollars," "$," and "dollars" ar
• $1 — .S. dollars were made at RMB7.0999 to US$1.00, the exchange rate set forth in the

Filing Documents

• rere-20231231.htm (20-F) — 5864KB
• rere-ex4_2.htm (EX-4.2) — 153KB
• rere-ex8_1.htm (EX-8.1) — 8KB
• rere-ex12_1.htm (EX-12.1) — 11KB
• rere-ex12_2.htm (EX-12.2) — 11KB
• rere-ex13_1.htm (EX-13.1) — 6KB
• rere-ex13_2.htm (EX-13.2) — 5KB
• rere-ex15_1.htm (EX-15.1) — 6KB
• rere-ex15_2.htm (EX-15.2) — 9KB
• rere-ex15_3.htm (EX-15.3) — 10KB
• rere-ex97.htm (EX-97) — 37KB
• img195414021_0.jpg (GRAPHIC) — 39KB
• img195414021_1.jpg (GRAPHIC) — 24KB
• 0000950170-24-043854.txt (&nbsp;) — 20330KB
• rere-20231231.xsd (EX-101.SCH) — 2458KB
• rere-20231231_htm.xml (XML) — 3757KB

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 145 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 145 PART II 148 Item 13. Defaults, Dividend Arrearages and Delinquencies 148 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 148 Item 15.

Controls and Procedures

Controls and Procedures 148 Item 16A. Audit Committee Financial Expert 149 Item 16B. Code of Ethics 149 Item 16C. Principal Accountant Fees and Services 149 Item 16D. Exemptions from the Listing Standards for Audit Committees 149 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 149 Item 16F. Change in Registrant's Certifying Accountant 150 Item 16G. Corporate Governance 150 Item 16H. Mine Safety Disclosure 151 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 151 Item 16J. Insider Trading Policies 151 Item 16K. Cybersecurity 151 PART III 152 Item 17.

Financial Statements

Financial Statements 152 Item 18.

Financial Statements

Financial Statements 152 Item 19. Exhibits 152

SIGNATURES

SIGNATURES 154 i INTROD UCTION Except where the context otherwise requires and for purposes of this annual report only: "ADRs" are to the American depositary receipts which may evidence the ADSs; "ADSs" are to the American depositary shares, every three of which represent two Class A ordinary shares; "AHS," "we," "us," "our company" and "our" are to our Cayman Islands holding company, ATRenew Inc. (formerly known as AiHuiShou International Co. Ltd.), its subsidiaries and, in the context of describing our operations and consolidated financial information, the consolidated affiliated entities, including Shanghai Wanwuxinsheng, during the effective period of the contractual agreements; "China" and the "PRC" are to the People's Republic of China; "Class A ordinary shares" are to our Class A ordinary shares, par value US$0.001 per share, conferring a holder of a Class A ordinary share one vote per share on all matters submitted for voting at general meetings of our company; "Class B ordinary shares" are to our Class B ordinary shares, par value US$0.001 per share, conferring a holder of a Class B ordinary share three votes per share on all matters submitted for voting at general meetings of our company; "Class C ordinary shares" are to our Class C ordinary shares, par value US$0.001 per share, conferring a holder of a Class C ordinary share fifteen votes per share on all matters submitted for voting at general meetings of our company; "executed transaction price" are to the transaction price that is not net of any coupons offered to the buyers on our marketplaces; "GMV" are to the total dollar value of goods distributed to merchants and consumers through transactions on our platform in a given period for which payments have been made, prior to returns and cancellations, excluding shipping cost but including sales tax; total GMV consists of GMV for product sales and GMV for online marketplaces; GMV for product sales measures the GMV from sales of

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information Our Holding Company Structure We are not an operating company but a Cayman Islands holding company with operations primarily conducted by our subsidiaries in China. The following diagram illustrates our corporate structure consisting of our principal subsidiaries as of the date of this annual report: (1) Prior to April 2022, the variable interest entity structure was established through a series of contractual arrangements between Shanghai Aihui, Shanghai Wanwuxinsheng, i.e. the former VIE, and the shareholders of Shanghai Wanwuxinsheng. As a result of such contractual arrangements, financial results of Shanghai Wanwuxinsheng and its subsidiaries were consolidated in our consolidated financial statements under the U.S. GAAP. In April 2022, Shanghai Aihui acquired all equity interests of Shanghai Wanwuxinsheng from the shareholders of Shanghai Wanwuxinsheng, following which Shanghai Wanwuxinsheng became a subsidiary of our company and the variable interest entity structure was completely unwound. ATRenew Inc. is a Cayman holding company and our operations are conducted primarily through subsidiaries in China. By purchasing the ADSs, you are purchasing interests in our Cayman holding company, as opposed to interests in our subsidiaries in China. Were this holding company structure to be challenged or disallowed by any regulatory authorities, our business operations would be materially and adversely affected and the value of the ADSs could significantly decline or become worthless. This holding company structure also involves certain risks in terms of dividend distribution, direct investment in entities in mainland China and obtaining benefits under the tax treaty. See "Item 3. Key Information—D.Risk Factors—Risks Related to Our Corporate Structure—If the PRC government finds that the historical contractual arrangements with the former VIE that establish the structure for operating certain of our businesses in mainland China did not comp

View Full Filing

View this 20-F filing on SEC EDGAR