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Exhibit 99.1 AiHuishou International Co. Ltd. Reports Unaudited Second Quarter 2021 Financial Results SHANGHAI , August 17 , 2021 / PRNewswire / -- AiHuiShou International Co. Ltd. ( " 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights • • • • Total net revenues grew by 56.2 % to RMB1,867.7 million ( US $ 289.3 million ) from RMB1,195.8 million in the second quarter of 2020 . Loss from operations was RMB507.3 million ( US $ 78.6 million ) , compared to RMB116.0 million in the second quarter of 2020. Adjusted loss from operations ( non - GAAP ) ¹ was RMB51.0 million ( US $ 7.9 million ) , compared to RMB36.6 million in the second quarter of 2020 . Total Gross Merchandise Volume ( “ GMV2 ” ) increased by 69.6 % to RMB7.8 billion from RMB4.6 billion in the second quarter of 2020. GMV for product sales increased by 72.7 % to RMB1.9 billion from RMB1.1 billion in the second quarter of 2020. GMV for online marketplaces increased by 68.6 % to RMB5.9 billion from RMB3.5 billion in the second quarter of 2020 . Number of consumer products transacted³ increased by 27.9 % to 7.8 million from 6.1 million in the second quarter of 2020 . Mr. Kerry Xuefeng Chen , Founder , Chairman , and Chief Executive Officer of ATRenew , commented , " We are pleased to deliver robust financial and operational results in our first quarterly earnings release as a public company . Our NYSE listing in June marked a paramount milestone following a decade of commitment and effort to fulfill our mission to give a second life to all idle goods . During the quarter , we further upgraded our pre - owned consumer products supply chain and automated operation capabilities , elevating the efficiency of pre - owned consumer electronics transactions on our platform . Meanwhile , we continued to empower small merchants in mid- and lower- tier cities and optimize the consumer experience . By leveraging our proprietary technology and services along with the pre - owned electronics supply chain we have established , we are well - positioned to increase the overall penetration and circulation rate of pre - owned consumer electronics in China , and to generate sustainable value for our shareholders and society while supporting the development of China's circular economy . " 1 See " Reconciliations of GAAP and Non - GAAP Results " for more information . 2 " GMV " represents the total dollar value of goods distributed to merchants and consumers through transactions on the Company's platform in a given period for which payments have been made , prior to returns and cancellations , excluding shipping cost but including sales tax . 3 " 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 . 1