Cheche Group (CCG) Registration Filing summary

Company overview and business model

• Operates as an insurance technology platform focused on digital auto insurance transactions and SaaS solutions in China, leveraging a VIE structure due to PRC restrictions on foreign ownership in certain sectors.

• Offers a unified, cloud-based platform serving insurance carriers, intermediaries, third-party platforms, referral partners, and consumers, with flagship products including Easy-Insur and NEV Insurance Solution.

• Maintains a nationwide network with over 108 branches in 25 provinces and partnerships with about 100 insurance carriers, 4,500 intermediaries, 700 third-party platforms, and 1.3 million referral partners as of December 31, 2024.

• Business growth is largely organic, driven by word-of-mouth referrals and minimal marketing spend.

Financial performance and metrics

• Facilitated gross written premiums of RMB16.6B, RMB22.6B, and RMB24.3B in 2022, 2023, and 2024, respectively.

• Non-auto insurance premiums grew from RMB3.6B in 2022 to RMB5.2B in 2024.

• Number of policies written increased from 12.3M in 2022 to 17.3M in 2024.

• VIE and subsidiaries accounted for 73.9% of consolidated assets and 75.1% of liabilities as of December 31, 2024.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in applicable prospectus supplements.

• As an offshore holding company, may use proceeds to provide loans or capital contributions to PRC subsidiaries or VIE, subject to regulatory requirements.