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 ...

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]

Core Insights - Cheche Group Inc. has partnered with Volkswagen Anhui to become the exclusive service provider for NEV insurance, aiming to enhance the attractiveness and penetration of Volkswagen Anhui's branded insurance products [1][2] Company Overview - Cheche Group Inc. was established in 2014 and is headquartered in Beijing, China, operating a nationwide network of approximately 110 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China [3] - The company 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 [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of exchange on which registered Class A ordinary shares, $0.00001 par value per share CCG The NASDAQ Stock Market LLC Warrants, each exercisable for one Class A ordinary share at an exercise price of $11.50 per share CCGWW The NASDAQ Stock Market LLC FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUAN ...

BEIJING, March 21, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced it will host a conference call to discuss fourth quarter and full year 2023 results on Thursday, March 28, 2024, at 8:00 a.m. EST. The fourth quarter and full year 2023 earnings release and related investor deck will be available on the investor relations website at ir.chechegroup.com prior to the event. A live webcast will be available in t ...

BEIJING, March 5, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, has expanded its partnership with Sinopec Easy Joy Sales Co., Ltd ("Sinopec Easy Joy"), a subsidiary of China Petroleum & Chemical Corporation ("Sinopec"), to provide embedded auto insurance services in over 5,000 of Sinopec's gas stations nationwide. Sinopec Easy Joy operates Sinopec's non-oil businesses, with a nationwide retail footprint that includes ove ...

Core Viewpoint - Cheche Group Inc. has appointed two new executive officers, Ms. Wenting Ji as Chief Financial Officer and Ms. Yanjun Liu as Chief Operating Officer, effective February 28, 2024 [1] Group 1: Executive Appointments - Ms. Wenting Ji has a strong background in finance, having served as CFO for multiple companies including Xiaoyezi Music Technology Group and Quhuo Limited, and holds degrees in economics from Nankai University [2] - Ms. Yanjun Liu has been with Cheche since 2018 as a vice president and has prior experience as finance director at Dayanghuida Science and Technology and assistant finance general manager at Anbang Insurance Group [3] - The founder and co-CEO, Mr. Lei Zhang, expressed confidence in the new appointments, highlighting Ms. Ji's financial expertise and Ms. Liu's strategic skills as valuable assets for the company's growth [4] Group 2: Company Overview - Cheche Group Inc. was established in 2014 and is headquartered in Beijing, China, operating as a leading auto insurance technology platform with around 110 branches across 30 provinces [5] - The company has evolved into a comprehensive, data-driven technology platform offering a full suite of services for digital insurance transactions and insurance SaaS solutions in China [5]

Core Insights - Cheche Group Inc. reported a 10.5% year-over-year increase in net revenues for Q3 2023, reaching RMB823.3 million (US$112.8 million) [2] - The company experienced a net loss of RMB55.4 million (US$7.6 million) for the quarter, which is an increase of RMB27.6 million compared to the prior-year quarter [2][8] - Adjusted net loss for Q3 2023 significantly decreased by 96.4% to RMB0.6 million (US$0.1 million) [2][8] Financial Performance - Net revenues for the first nine months of 2023 increased by 27.7% to RMB2.4 billion (US$333.6 million) [2] - Total written premiums for Q3 2023 grew by 30.4% year-over-year to RMB5,639.3 million (US$773.0 million) [2] - The total number of policies issued in Q3 2023 increased by 23.5% to 4.0 million [2] Business Highlights - Cheche established partnerships with 10 New Energy Vehicle (NEV) manufacturers, leading to over 117,000 embedded insurance policies in new NEV deliveries, generating premiums of RMB399.0 million (US$54.7 million) [2][11] - The company added over 50,000 new referral partners in the quarter, increasing active intermediaries to approximately 4,500 [2] - Cheche's gross margin improved by 70 basis points in Q3 2023 due to operational efficiencies and enhanced technology [4] Market Position and Strategy - Cheche is positioned as a leader in providing embedded insurance solutions within the NEV sector, capitalizing on the rapid growth of NEV sales in China [4][10] - The company aims to leverage its extensive network of insurer relationships and referral partners to capture market share and enhance underwriting and claims management [4] - Cheche's management anticipates continued momentum in Q4 2023, driven by promotions from insurers and manufacturers [4] Outlook - The company updated its 2023 financial outlook, expecting net revenues to meet or exceed RMB3.1 billion (US$454.0 million) and total written premiums to be between RMB21.0 billion and RMB22.0 billion [18] - The strategic focus remains on increasing NEV market share while controlling operating expenses for long-term growth [18]