Cheche Group (CCG) investor relations material

Executive summary

• Achieved strong growth in NEV/AUV insurance, with 810,000 embedded policies and written premiums up 150.6% year-over-year, supported by 15 partnerships and a 135.5% increase in policies transacted.

• NEV/AUV premiums now represent 22.5% of total written premiums, up from 9.3% last year, driving higher gross margins and improved business structure.

• Total written premiums for H1 2025 increased 4% to RMB 11.5 billion, with 8.3 million policies issued.

• Launched AI-driven insurance tools and fintech solutions for automakers, supporting both domestic and global expansion.

• Positioned as the largest independent technology platform for auto insurance and NEV embedded solutions in China, targeting 30%-40% market share in 3-5 years.

Financial highlights

• Net revenues for H1 2025 were RMB 1,348.7 million, down 17.7% year-over-year due to a higher NEV/AUV mix with lower service fee rates.

• Gross profit rose 1.7% to RMB 65.8 million, with gross margin improvement despite lower net revenues.

• Net loss improved 53.4% year-over-year to RMB 25.6 million; adjusted net loss improved 56.9% to RMB 10.5 million.

• Operating expenses decreased 23.9% to RMB 92.8 million, with selling, marketing, and G&A expenses down significantly.

• Cash, cash equivalents, and short-term investments at RMB 167.2 million as of June 30, 2025.

Outlook and guidance

• Net revenue guidance for 2025 revised to RMB 3.0–3.3 billion, down from RMB 3.6–3.8 billion, reflecting business structure changes.

• Full-year written premiums expected at RMB 25.5–27.0 billion, with NEV/AUV premiums at RMB 7.0–8.0 billion.

• Adjusted operating results expected to shift from loss to profit in 2025.

• NEV/AUV business projected to account for 50%-70% of total business in 3-5 years.