From November 11 to 22, 2024, the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (hereinafter referred to as "COP29") will be held in Baku, the capital of Azerbaijan. A thematic side event titled "Practices from China and Abroad in Supporting Climate Change through Circular Economy" will take place on November 20, featuring Vice Minister of the Ministry of Ecology and Environment Zhao Yingmin and China's Special Envoy on Climate Change Liu Zhenmin.

Hu Zuoxiong, Chairman of the Board of Directors of Lingxiong Technology (parent company of Bear U Rental), was invited as the sole representative of China's DaaS (Device as a Service) industry to attend the thematic side event and share the company's active explorations and practical achievements in "Practicing Circular Economy Concepts to Achieve the 'Dual Carbon' Strategic Goals."

Innovatively creating a digital DaaS service model.
Showcasing new practices of China's circular economy.

As an important platform for global climate governance, COP29 carries unprecedented expectations and missions, bringing together heads of state, climate experts, and civil representatives to jointly discuss strategies and pathways to combat climate change and promote sustainable development for humanity.

Image: Hu Zuoxiong, Chairman of the Board of Directors of Lingxiong Technology, shares the company's explorations and practices in implementing circular economy.

At the thematic side event, Hu Zuoxiong, Chairman of the Board of Directors of Lingxiong Technology, stated that as a representative of China's innovative practices in circular economy, Lingxiong Technology has adhered to the concept of "Digital Intelligence Innovation and Circular Development" for 20 years. On one hand, the company has focused on providing excellent customer service, innovating and continuously enriching the connotation of digital DaaS service models, and continuously creating new value to enhance customer satisfaction. On the other hand, it actively practices the concept of circular economy, strengthening collaboration among DaaS businesses to promote resource recycling and create substantial carbon reduction value for society.

Hu Zuoxiong introduced that the digital closed-loop DaaS service model created by Lingxiong Technology Innovation provides enterprises with a full-stack service that includes IT equipment recycling services, IT equipment subscription services, IT technology subscription services, and equipment management saas, covering the full lifecycle management needs of small and medium-sized enterprises from equipment acquisition, maintenance, management to equipment retirement and recycling. This model, with a complete business closed-loop ecosystem, helps tens of thousands of enterprises reduce costs and increase efficiency while extending the lifespan of millions of devices through synergies among different businesses, maximizing equipment usage rates, and providing new exploration and practice for promoting the high-quality development of china's circular economy.

By deeply integrating the concept of green circular development into various aspects of daily operation, Lingxiong Technology maintains high-quality growth each year, with its revenue scale consistently ranking first in the industry for many years. Data shows that Lingxiong Technology's revenue steadily grew to nearly 1.8 billion yuan in 2023, and in the first half of 2024, revenue reached a historical high for the same period, continuing to maintain the first position in the industry.

The value of DaaS services is increasingly prominent.
Becoming an important force in achieving national strategic goals.

Hu Zuoxiong stated that Lingxiong Technology can continuously achieve high-quality development due to the national strategic emphasis and strong support for circular economy and private enterprise development and also benefits from the company's innovation in creating and continuously enriching the connotation of the digital DaaS service model. "The 20 years of practice by Lingxiong Technology proves that the DaaS service model has rich social value, national strategic value, and economic value."

Image: Hu Zuoxiong, chairman of the board of directors of Lingxiong Technology and founder of Little Bear U Rental.

In addition, Hu Zuoxiong introduced that Lingxiong Technology recycles hundreds of thousands of second-hand IT devices (such as office computers, servers, etc.) each year from the top 100 internet plus-related companies in china. All recycled IT devices are centralized for green disposal by Lingxiong Technology. In 2023, Lingxiong Technology extended the lifespan of 1.3 million refurbished devices, contributing to a carbon reduction of over 0.017 million tons for society and continuously providing positive contributions to the country’s "dual carbon" strategic goals and the effective implementation of the "two new" strategies.

"Currently, china is further intensifying the implementation of the 'two news' policy. As a leading company in china's daas industry, Lingxiong Technology will take on responsibilities, continuously cultivate and develop new productive forces, and constantly enrich and refine the connotation of the digital closed-loop daas service model, allowing more IT equipment to extend its lifespan, significantly enhance the recycling value of IT equipment, and provide a 'Lingxiong sample' for the effective implementation of the 'two news' policy in china, contributing even more to the realization of china's 'dual carbon' strategic goals." Hu Zuoxiong stated.

Additionally, to strengthen cross-industry cooperation and accelerate the global economic low-carbon transition, on the day of the event, Lingxiong Technology and other companies jointly initiated the 'Corporate Initiative to Accelerate the Development of Circular Economy to Support Climate Action.'