Intense Market Competition: ATRenew operates in a highly competitive e-commerce sector for pre-owned consumer electronics in China, facing challenges from established e-commerce giants, specialized platforms, and emerging startups, which could impact market share and profitability.

Product Quality and Authenticity Concerns: The company's business model relies on sourcing, inspecting, and selling pre-owned items. Risks include difficulty in consistently guaranteeing product quality, detecting counterfeits, and ensuring accurate grading, which can lead to customer dissatisfaction and reputational damage.

Adverse Regulatory and Policy Changes in China: ATRenew is subject to a complex and evolving regulatory environment in China, encompassing e-commerce, data privacy, consumer protection, and environmental regulations. Changes in these policies or stricter enforcement could significantly increase operational costs or restrict business activities.