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Cheche(CCG) - 2024 Q2 - Quarterly Report
2024-09-30 11:03
Exhibit 99.1 Page CHECHE GROUP INC. INDEX TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------| | Unaudited Interim Condensed Consolidated Balance Sheets as of December 31, 2023 and June 30, 2024 | F-2 | | Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Loss for the six months ended | | ...
Cheche Group Announces Partnership with Great Wall Motor's Insurance Brokerage
Prnewswire· 2024-09-12 12:30
Core Insights - Cheche Group Inc. has partnered with Laoyou Insurance Brokerage to enhance collaborations with auto manufacturers in China [1][2] - Laoyou Insurance is a subsidiary of Great Wall Motor Company, a leading Chinese auto manufacturer [1] - Cheche's insurance solutions are being integrated with GWM's direct-sales network across over 20 cities [1] Company Developments - The partnership with Laoyou Insurance reflects Cheche's strategy to engage with major domestic automotive groups [2] - Cheche aims to develop a comprehensive insurance solution for traditional automakers within one to two years [2] - The expansion of GWM's Smart Selection network is expected to drive growth in Cheche's insurance service offerings [2] Company Background - Cheche Group Inc. was established in 2014 and is headquartered in Beijing, China [4] - The company operates around 108 branches licensed to distribute insurance policies across 25 regions in China [4] - Cheche has evolved into a data-driven technology platform offering a full suite of digital insurance transaction services [4]
Cheche(CCG) - 2024 Q2 - Earnings Call Transcript
2024-08-29 12:00
Good morning and welcome to Cheshire's second quarter 2024 conference call. All participants will be in listen-only mode. If you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note today's conference is being recorded. I will now turn the conference o ...
Cheche Group Reports Second Quarter 2024 Unaudited Financial Results
Prnewswire· 2024-08-29 10:00
BEIJING, Aug. 29, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche", the "Company" or "we"), China's leading auto insurance technology platform, today announced its unaudited financial results for the second quarter ended June 30, 2024.Financial and Operational HighlightsNet revenues for the quarter increased 2.5% year-over-year to RMB851.8 million (US$117.2 million), while net revenues for the first half of 2024 increased 1.8% over the comparable prior year period to RMB1.6 billion (US$225.5mi ...
Cheche Group Schedules Second Quarter 2024 Earnings Release and Conference Call Date
Prnewswire· 2024-08-21 12:00
Group 1 - Cheche Group Inc. will host a conference call on August 29, 2024, at 8:00 a.m. EST to discuss its second quarter 2024 results [1] - The earnings release and investor deck will be available prior to the event in the "Quarterly Results" section under "Financials" [1] - A live webcast of the conference call will be accessible in the "Events" section on the investor relations website [1] Group 2 - Cheche Group Inc. was established in 2014 and is headquartered in Beijing, China [2] - The company operates a nationwide network of approximately 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China [2] - Cheche has evolved into a comprehensive, data-driven technology platform offering a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China [2]
Argus Research Initiates Equity Report Coverage on Cheche Group Inc. (NasdaqCM: CCG).
Prnewswire· 2024-07-11 12:45
Company Highlights - Cheche Group Inc. (CCG) is identified as a leading "Digital Connector" for the New Energy Vehicle (NEV) Auto Insurance Ecosystem in China, connecting auto insurers with various stakeholders [1] - The company is in the early stages of scaling its business in the world's second-largest auto market, which represents approximately 60% of the global electric vehicles on the road [1] Industry Insights - The NEV sector in China is expected to continue benefiting from favorable government policies, which are driving growth in the automobile insurance industry [2] - In 2023, Cheche Group experienced a more than five-fold increase in digital embedded policies, reaching 416,000, with written premiums exceeding $204 million [2] - The NEV market is viewed as being in the early stages of a long-term growth cycle [2] Financial Performance - For the full year of 2024, Cheche Group anticipates net revenue growth of 6%-12%, projecting revenues between RMB3.5 billion and RMB3.7 billion, and total written premiums growth of 8.4%-17.3%, estimating premiums between RMB24.5 billion and RMB26.5 billion [2] - As of March 31, 2024, Cheche Group reported total cash and short-term investments of RMB234.0 million (approximately $32.4 million) and a positive working capital position of RMB264.9 million (approximately $37 million) with a current ratio of 1.5 [3] - The company narrowed its adjusted net loss by 35.7% in 2023 and is projected to potentially reach profitability by 2025 [3] Company Overview - Established in 2014 and headquartered in Beijing, Cheche Group operates as a leading auto insurance technology platform with over 100 local branches licensed to distribute insurance policies across 25 provinces in China [3] - The company focuses on the NEV market and has evolved into a comprehensive, data-driven technology platform offering a full suite of services for digital insurance transactions and insurance SaaS solutions [3]
Cheche Group Announces Strategic Partnership with BAIC Group's Insurance Provider
Prnewswire· 2024-06-27 11:30
BEIJING, June 27, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it has entered into a strategic partnership with Beijing Anpeng Insurance Broker Co., Ltd. ("Beijing Anpeng"), as Cheche continues to deepen its collaborations with new energy vehicle ("NEV") manufacturers in China. Beijing Anpeng is a subsidiary of Beijing Automotive Group Co., Ltd. ("BAIC Group") and specifically handles the insurance ...
Cheche Group Announces Partnership with NIO Insurance Broker
Prnewswire· 2024-06-20 11:30
BEIJING, June 20, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced it has entered into a partnership with NIO Insurance Broker Co., Ltd. ("NIO Insurance Broker"), a subsidiary of NIO INC. (NYSE: NIO) ("NIO"), as Cheche continues to deepen its collaborations with new energy vehicle ("NEV") manufacturers. Cheche's accessible digital platform, powered by industry-leading technology, will digitalize the process ...
Cheche Group Reports First Quarter 2024 Unaudited Financial Results
prnewswire.com· 2024-05-30 11:00
BEIJING, May 30, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche", the "Company" or "we"), China's leading auto insurance technology platform, today announced its unaudited financial results for the first quarter ended March 31, 2024.Financial and Operational HighlightsNet revenues for the quarter increased 1.0% year-over-year to RMB787.1 million (US$109.0 million).Net loss for the quarter decreased 28.8% year-over-year to RMB31.3 million (US$4.3 million).Adjusted net loss(1) for the quarter i ...
Cheche Group Schedules First Quarter 2024 Earnings Release and Conference Call Date
prnewswire.com· 2024-05-24 12:00
Company Overview - Cheche Group Inc. is a leading auto insurance technology platform in China, established in 2014 and headquartered in Beijing [2] - The company operates a nationwide network of approximately 110 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China [2] - Cheche has evolved into a comprehensive, data-driven technology platform offering a full suite of services and products for digital insurance transactions and insurance SaaS solutions [2] Upcoming Events - The company will host a conference call to discuss its first quarter 2024 results on May 30, 2024, at 8:00 a.m. EST [1] - The first quarter 2024 earnings release and related investor deck will be available on the investor relations website prior to the event [1] - A live webcast of the conference call will be accessible in the "Events" section of the company's investor relations website [1]