#China #Beijing #Cheche Group #auto insurance #NEV

Cheche Group Reports Unaudited Financial Results for 2025

Cheche Group Inc. (NASDAQ: CCG), known as a leading auto insurance technology platform in China, has shared its financial results for the second half and the entire year of 2025. The announcement reflects notable achievements, particularly in partnerships with New Energy Vehicle (NEV) companies, which have been crucial within the rapidly evolving auto insurance sector.

Business Highlights

In the latter half of 2025, Cheche Group formed partnerships with 16 NEV companies. This collaboration steered policy issuance to an impressive 1.2 million, accruing a corresponding written premium of RMB 3.7 billion (approximately $532 million). This marked a substantial increase of 61.8% in policies and 63.9% in premiums compared to the previous year.

Overall, for the full year of 2025, Cheche recorded 2 million embedded policies with a written premium totaling RMB 6.3 billion (around $902 million), showcasing a growth of 85.3% and 91.0% respectively, compared to the last fiscal year.

Financial Performance

Cheche's gross profit for the second half of 2025 experienced a modest rise of 0.5%, amounting to RMB 94.6 million ($13.5 million). In comparison, gross profit for the entire year rose by 1.0% to RMB 160.4 million ($22.9 million). The positive shift can be attributed to a business structure adjustment, where NEV premiums constituted 24.1% and 23.4% of all written premiums for the second half and full year 2025, respectively. This is a considerable increase from 17.2% and 13.6% in the previous year, reflecting improved gross margins driven by this structural enhancement.

Operating income in the latter half of 2025 transformed into RMB 6.1 million ($0.9 million), contrasting with an operating loss of RMB 9.3 million in the corresponding period of the previous year. For the entire year, operating losses decreased significantly by 68.6% to RMB 20.9 million ($3.0 million). Adjusted operating income for the second half reached RMB 18.5 million ($2.6 million), showcasing a leap from an adjusted operating loss of RMB 1.5 million in 2024.

The net income for the latter half of 2025 reached RMB 7.8 million ($1.1 million), materially improving from a net loss of RMB 6.4 million during the same period the previous year. The annual net loss for 2025 stood at RMB 17.8 million ($2.5 million), down from RMB 61.2 million in the preceding year.

Market Positioning and Strategic Partnerships

Cheche continues to leverage its strengths in the NEV market, launching various digital initiatives aimed at enhancing the insurance experience for consumers. 2025 also saw significant collaborations with major automotive manufacturers like BYD, Volkswagen, and Huawei, who are committed to refining and integrating Cheche's auto insurance services.

The expansion and innovation in Cheche’s service offerings not only target domestic growth but are also aimed at strengthening its international presence across key continents, including Asia-Pacific and Latin America.

Future Outlook

Heading into 2026, Cheche anticipates net revenues to range between RMB 3.0 billion and RMB 3.2 billion, marking flat growth or an increase up to 6.7% over 2025. The firm is also expecting to place written premiums totaling between RMB 28.0 billion and RMB 30.0 billion, indicating an expected advancement of about 3.7% to 11.1% over the past year.

The projected upward trajectory of NEV written premiums, anticipated to rise between RMB 10.5 billion and RMB 12.0 billion, represents an exciting growth opportunity with an increase forecast of 66.7% to 90.5% when compared to 2025.

In summary, Cheche Group is not just adapting but is strategically evolving in a competitive landscape that increasingly favors innovative and technology-driven insurance solutions. With its commitment to operational efficiency and partnerships within the NEV landscape, Cheche is poised for significant growth in the years to come.