(Yicai Global) May 31 -- China's biggest second-hand consumer electronics retailer, the JD.Com-backed operator of AHS Recycle stores and Paipai mobile application, has filed to go public on the New York Stock Exchange.

Aihuishou International would trade with the ticker 'RERE', the Shanghai-based company said in its prospectus filed with the US Securities and Exchange Commission on May 29, without disclosing its fundraising target sum.

Founded in 2011, Aihuishou has expanded to 172 cities with its nearly 780 stores after cooperating with e-commerce giant JD.Com and handset maker Xiaomi to open offline outlets instead of focusing solely on online operations.

The proceeds of the share sale should expand the company's reach. Some 30 percent of the sum should be used for diversifying Aihuishou's services, and a similar amount for expanding the company's retail network. A fifth of the total should go into improving technology and another 20 percent into general uses such as marketing and sales, as well as strategic investments and acquisitions.

Aihuishou had a 6.6 percent market share in terms of gross merchandise volume for used electronics in China last year, according to a report by sovereign wealth fund China Investment. GMV jumped 66 percent to CNY22.8 billion (USD3.6 billion) in the 12 months ended March from a year ago.

Profitability is not far. The IPO-hopeful reported a net loss of CNY104 million (USD16.3 million) in 2020. Its revenue climbed nearly 24 percent to CNY4.9 billion (USD741 million) from a year earlier.

JD.Com currently holds a 34.7 percent stake in Aihuishou. Wuyuan Capital has 14 percent of the equity.

Editor: Emmi Laine, Xiao Yi