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Stock impact report

Chinese recycling firm Carbon Zero aims to replicate success overseas after Nasdaq IPO [Yahoo! Finance]

ATRenew Inc. American Depositary Shares (every three of which representing two Class A ordinary shares) (RERE) 
Company Research Source: Yahoo! Finance
Carbon Zero, founded in 2016, operates an online platform that dispatches recycling orders from individuals, retail outlets and consumer brands to its recycling personnel. With thousands of physical sorting centres across China, the company then sells recycled items to dismantling and disposal firms. "The recycling industry in China is relatively fragmented ... with a large number of individual practitioners," founder and CEO Baitong Tang said in an interview last week. "There is a need for a platform-based company or a formal recycling system to effectively integrate these scattered and disorderly operations. Our model happens to address this issue." Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Last year, Carbon Zero generated revenues of nearly 4 billion yuan (US$564.6 million), Show less Read more
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