#China #NASDAQ #Beijing #Cheche Group #auto insurance

Cheche Group Responds to Nasdaq Notification

Cheche Group Inc. (NASDAQ: CCG), a prominent player in China's auto insurance technology landscape, has received a notification letter from Nasdaq concerning its compliance with the minimum bid price requirement. This notification, issued on June 5, 2025, indicates that the company's Class A ordinary share price has fallen below the $1.00 threshold for 31 consecutive business days, breaching Rule 5550(a)(2) of the Nasdaq Listing Rules.

While this development may raise concerns among investors, Cheche affirms that the notification does not immediately affect its stock listing or trading activities on the Nasdaq exchange. The company is in a scheduled compliance period lasting until December 2, 2025, during which it aims to elevate its stock price above the mandated limit. If the closing bid price reaches or exceeds $1.00 for a minimum of 10 consecutive business days, Nasdaq will confirm the company’s compliance, thereby resolving the issue.

In the absence of compliance by December 2, Cheche Group may still qualify for an extended period of 180 days to correct the issue, assuming it meets the continued listing standards regarding the market value of its shares and adheres to other initial listing requirements, excluding the bid price condition. In addition, Cheche Group plans to actively monitor its Class A ordinary shares' closing bid price during this compliance period and is evaluating various strategies to meet the bid price requirement.

Despite the Nasdaq notification, Cheche Group maintains that their operational and business activities remain unaffected. The company continues to fulfill all reporting requirements mandated by the U.S. Securities and Exchange Commission, alongside its contractual obligations. With a robust strategy and solid operational foundation, Cheche is well-positioned to tackle this challenge and further solidify its position in the market.

Founded in 2014 and headquartered in Beijing, China, Cheche is recognized as a leading auto insurance technology platform. The company has established a significant presence in the industry with 108 branches licensed to distribute insurance products across 25 different provinces, autonomous regions, and municipalities. Its growth can be attributed to its innovative approach leveraging technology to streamline the insurance transaction process, thereby enhancing customer experience and access to services.

The company emphasizes its commitment to innovation and strategic partnerships that enable it to scale effectively in the competitive auto insurance sector. Cheche Group is dedicated to providing comprehensive, data-driven solutions for both customers and partners, staying ahead of market trends and expectations.

As the company progresses, it will continue to keep stakeholders informed about any developments regarding its compliance status with Nasdaq. Cheche Group's focus remains steadfast on fostering strong relationships and securing new partnerships while scaling upward in its technological offerings. The team is enthusiastic about the opportunities ahead and is committed to ensuring compliance and operational excellence for sustainable growth in the future. For further insights on the company, visit Cheche Group's official website.