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On July 20, the "10th Anniversary Theme Exhibition of Hubei Carbon Market" was held in Wuhan. At the event, in order to build a carbon inclusive city cooperation and exchange platform, the organizers joined forces from all walks of life to formally launch the "Carbon Inclusive City Cooperation Alliance" and jointly launched the "Carbon Inclusive City Cooperation Initiative". As a leading circular economy company, Zhuanzhuan Group was invited to become a member of the alliance and jointly participate in launching the initiative based on the industry's natural green attributes and related initiatives in the low-carbon green field.

The "Carbon Inclusive City Cooperation Alliance" was jointly initiated by Carbon Emission Rights Registration and Settlement (Wuhan) Co., Ltd. (referred to as "China Carbon Registration"), Hubei Carbon Emission Rights Trading Center, Wuhan Carbon Inclusive Management Co., Ltd., and Tencent Zhenyi (Beijing) Enterprise Development Co., Ltd., aiming to build an open collaboration platform with voluntary participation from government departments, enterprises, industry associations, universities, research institutes and other forces. The alliance aims to unite the builders and participants of various carbon inclusive models, integrate the resources of alliance members in terms of market, technology, talents, etc., to form a carbon inclusive cooperation mechanism with appeal, influence and sustainable operation, and comprehensively improve the low-carbon and inclusive social governance level of carbon inclusive cities.

It is understood that in 2022, Zhuanzhuan Group announced its transformation and upgrading into a circular economy industry company, adhering to the concept of green development and integrating circular economy into all aspects of corporate development. In July 2023, Zhuanzhuan Group became the official supplier of second-hand recycling services for the 31st Summer Universiade in Chengdu, introducing second-hand circular economy examples for large-scale international comprehensive events; in November of the same year, at the 28th United Nations Climate Change Conference (COP28), Zhuanzhuan Group appeared in related topics as an excellent example of circular consumption promoting carbon emission reduction and carbon inclusiveness, becoming a company in China's second-hand recycling field participating in COP.

In addition, as a member of the "Carbon Inclusive Cities Cooperation Alliance", Zhuanzhuan Group will actively participate in all aspects of the "Carbon Inclusive Cities Cooperation Initiative", including promoting exchanges and cooperation among carbon inclusive cities, building a quantitative foundation for carbon inclusive emission reductions, sharing open and mutually beneficial carbon inclusive resources, building a diversified and market-oriented inclusive incentive mechanism, and promoting public participation in climate action.

It is worth mentioning that in August 2023, Zhuan Zhuan Group also joined the Science Based Targets Initiative (SBTi), becoming the first company in the domestic second-hand recycling industry to propose a science-based target commitment and join SBTi.

The relevant person in charge of Zhuanzhuan Group said that with the help of the "Carbon Inclusive City Cooperation Alliance" platform, it will actively explore new paths and models of low-carbon development with other member units in the future. Through close cooperation and exchanges, Zhuanzhuan Group will help promote the high-quality construction of local carbon inclusive systems and contribute to the realization of carbon peak and carbon neutrality goals.