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ATRenew Announces Grand Opening of Paijitang Flagship Store in Shenzhen

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SHANGHAI, March 31, 2025 /PRNewswire/ — ATRenew Inc. (“ATRenew” or the “Company”) (NYSE: RERE), a leading technology-driven platform for pre-owned consumer electronics transactions and services in China, today launched the grand opening of its Paijitang flagship store in Shenzhen. Located in Huaqiangbei, the country’s premier electronics trade hub, the store features nearly 10,000 professionally inspected smartphones, setting a new benchmark for transparency in the second-hand electronics market.

Paijitang, ATRenew’s B2B trading platform, provides standardized and efficient transaction services to over 850,000 small and medium-sized businesses across China. The launch of its offline store enhances the platform’s seamless online-to-offline integration, driving industry standardization and expansion.

“As a front-end distribution center, the Paijitang flagship store operates on a ‘warehouse-to-retail model,’ which enables buyers to browse inventory, inspect devices, and complete purchases onsite—helping businesses reduce inventory costs and minimizing logistics delays by 3 to 5 days,” said Mr. Kerry Xuefeng Chen, Founder, Chairman, and CEO of ATRenew. “By offering a compliant and efficient sourcing solution, we are committed to fostering the long-term, sustainable growth of the pre-owned electronics industry.”

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. ATRenew is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ATRenew’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ATRenew’s strategies; ATRenew’s future business development, financial condition and results of operations; ATRenew’s ability to maintain its relationship with major strategic investors; its ability to facilitate pre-owned consumer electronics transactions and provide relevant services; its ability to maintain and enhance the recognition and reputation of its brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ATRenew’s filings with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact
In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com

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SOURCE ATRenew Inc.

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Tuya Smart Secures Prestigious Spot Among “2025 Forbes China AI Tech Enterprises Top 50”

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May 28, 2025

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NEW YORK, May 27, 2025 /PRNewswire/ — Forbes China has released its “2025 Forbes China AI Tech Enterprises Top 50” list, recognizing Tuya Smart (NYSE: TUYA, HKEX: 2391), a leading global AI cloud platform service provider, as one of the country’s top AI technology companies. Tuya is notably the only AI cloud platform included in this year’s ranking in recognition of its robust technological capabilities and significant contributions to advancing AI accessibility and commercialization.

The list highlights outstanding Chinese enterprises driving AI innovation, showcasing the industry’s development and growing influence. According to Forbes China, companies that combine breakthroughs in advanced technologies with deep industry expertise are poised to shape the next technological era.

This year’s selection includes one primary list—Top 50 AI Tech Enterprises—alongside four subcategories. The main list focuses on identifying the most influential and representative players in China’s AI sector. A panel of distinguished global and domestic AI scholars and experts evaluated nominees across several criteria, including technological innovation, market performance, and industry impact.

Eva Na, Vice President of Marketing and Strategic Cooperation and CMO of Tuya Smart, said: “Being named to the ‘2025 Forbes China AI Tech Enterprises Top 50’ is a strong endorsement of Tuya’s long-term commitment to AI innovation and ecosystem development. We will continue to leverage our technological strengths and open ecosystem, working with global partners to lower barriers to AI adoption, promote equitable AI access, and deliver more user-friendly smart products that bring tangible value to businesses, households, and individuals worldwide.”

 

View original content:https://www.prnewswire.com/news-releases/tuya-smart-secures-prestigious-spot-among-2025-forbes-china-ai-tech-enterprises-top-50-302466605.html

SOURCE Tuya Smart

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Al Ansari Exchange and UnionPay International Launch Real-Time Remittance Service to China via MoneyExpress

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May 28, 2025

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Dubai, UAE, May 28, 2025 /PRNewswire/ — Al Ansari Exchange, a subsidiary of Al Ansari Financial Services and the largest remittance and foreign exchange company in the UAE, and UnionPay International UPI announced today the launch of MoneyExpress remittance service in the UAE. This partnership marks a significant milestone, as Al Ansari Exchange becomes the first exchange company in the entire GCC region to integrate directly with UnionPay’s infrastructure, streamlining remittances through a fully digital, real-time interface ensuring speed, transparency, and user convenience.

This agreement was signed during Seamless Middle East 2025, in the presence of Mr. Ali Al Najjar Chief Operating Officer at Al Ansari Exchange and Mr. Luping Zhang, General Manager of Middle East of UnionPay International.

“Digital innovation is at the heart of our strategy, and the launch of MoneyExpress marks a significant step forward in cross-border payment solutions,” said Ali Al Najjar, COO of Al Ansari Exchange. “By directly integrating with UnionPay’s network, we are removing traditional barriers to remittance, delivering a faster, more cost-effective, and customer-centric solution that strengthens our position as a digital leader in financial services.”

“We are pleased to partner with Al Ansari Exchange to introduce MoneyExpress in the UAE,” said Luping Zhang, of UnionPay International. “This service offers customers a secure, real-time, and cost-effective way to send money to China. With upfront exchange rate settlement and direct crediting in RMB, it simplifies the process and eliminates hidden fees, enhancing convenience for senders and recipients alike.”

Unlike traditional remittance channels, MoneyExpress guarantees the exchange rate upfront and credits the recipient’s UnionPay card in Chinese renminbi (RMB) instantly, without intermediary or bank handling fees. This provides customers with greater cost transparency and immediate access to their funds.

With a network of over 270 branches and digital channels across the UAE, Al Ansari Exchange combines deep market expertise with advanced compliance standards to offer seamless financial services. This milestone and strategic partnership between Al Ansari Exchange and UnionPay International paves the way for future collaborations that will expand secure and efficient payment solutions across new corridors.

View original content:https://www.prnewswire.co.uk/news-releases/al-ansari-exchange-and-unionpay-international-launch-real-time-remittance-service-to-china-via-moneyexpress-302466622.html

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OSL Wealth Debuts Stablecoin Yield-Generating Product via Ethena

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May 28, 2025

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TL;DR: OSL Wealth Partnership with Ethena, giving institutional clients dollar-pegged stability, auto-compounding on-chain yield, and daily liquidity.

HONG KONG, May 28, 2025 /PRNewswire/ — OSL Wealth, under OSL Group, announces a new yield-generating product that seamlessly channels the performance of Ethena Labs’ Staked USDe (sUSDe) to OSL’s professional and institutional clients.

Clients simply trade through OSL’s OTC desk—using USD or USDT—and receive an instrument that (i) auto-compounds historically low-to-mid-teen net APY into its price, (ii) maintains constant 1:1 redemption into USDe for dollar stability, (iii) offers business-day subscriptions and redemptions with no lock-ups or performance fees, and (iv) is safeguarded around the clock in OSL’s segregated, insured custody.

sUSDe is the reward-bearing version of Ethena’s synthetic stablecoin, USDe. By pairing ETH collateral with short perpetual-futures hedges, the underlying protocol harvests funding-rate income and staking rewards, compounding them into the token’s value while preserving a 1:1 dollar peg. OSL Wealth now wraps that mechanism inside its own regulated offering, so clients can benefit from sUSDe’s yield without managing staking wallets, on-chain hedges, or complex custody flows.

Tony Luk, Head of OSL Wealth stated, “Our clients want dollar stability that earns a real return, delivered through an institution they already trust. By integrating sUSDe under OSL’s compliance, custody, and security framework, we’ve turned a technically demanding DeFi strategy into a turnkey income product.”

“OSL has set the bar for regulated digital asset services in Asia,” noted Steven Shi, Head of Institutional Growth, Ethena Labs. “Their adoption of sUSDe brings our yield-bearing stablecoin to an audience that demands both transparency and institutional-grade safeguards.”

¹ Past performance is not indicative of future results. Yield fluctuates with perp-funding rates and staking returns.

About OSL Hong Kong

As a subsidiary of the publicly listed OSL Group (HKEX: 863.HK), OSL Digital Securities is Hong Kong’s first and most established SFC-licensed and insured digital asset platform. Operating since 2018, the platform provides institutional-grade digital asset services to corporations, financial institutions, professional and retail investors.

OSL Hong Kong delivers services across five core domains: OTC brokerage, Omnibus broker solutions, custody, wealth management, and retail services. The OTC brokerage services provide 24/7 high-liquidity crypto trading with fiat on/off-ramp services. Custody solutions feature client-asset segregated wallet management backed by US$1 billion insurance coverage. The wealth management suite offers crypto investments to traditional investors, including tokenised treasuries, RWAs, structured crypto products, and quant investment strategies. Retail services bring institution-grade security and crypto access to professional and retail investors.

As a pioneer in bridging traditional finance and the digital asset economy, OSL Group adheres to its core concept: Open, Secure, and Licensed, empowering the next generation of global financial infrastructure. In addition to Hong Kong, OSL Group expands operations under full regulatory compliance in Japan, Australia, Europe and beyond.

For more information, visit osl.com.

About Ethena Labs 

Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history. Ethena has $6.2 billion in TVL today, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs, a contributor to the protocol, is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit and OKX among others.

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SOURCE OSL

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