Business
Cheche Group Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results
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 fourth quarter and full year ended December 31, 2024.
About this update from Cheche Group Inc.
[{"type":"text","content":"BEIJING, March 28, 2025 /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 fourth quarter and full year ended December 31, 2024.","length":302,"tagName":"p"},{"type":"text","content":"Financial and Operational Highlights","length":36,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net revenues for the quarter increased by 13.4% year-over-year to RMB983.6 million (US$134.8 million), while net revenues for the full year of 2024 increased by 5.2% over the prior year to RMB3.5 billion (US$475.8 million).","length":243,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating loss for the quarter decreased by 93.7% year-over-year to RMB3.0 million (US$0.4 million), while operating loss for the full year of 2024 decreased by 60.3% over the prior year to RMB66.5 million (US$9.1 million).","length":223,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted operating income(1) for the quarter was RMB1.3 million (US$0.2 million), compared to adjusted operating loss of RMB12.0 million in the prior-year quarter. Adjusted operating loss for the full year of 2024 decreased by 40.2% over the prior year to RMB28.2 million (US$3.9 million).","length":304,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss for the quarter decreased by 67.4% year-over-year to RMB10.4 million (US$1.4 million), while net loss for the full year of 2024 decreased by 61.6% over the prior year to RMB61.2 million (US$8.4 million).","length":232,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted net loss(1) for the quarter decreased by 38.6% year-over-year to RMB3.0 million (US$0.4 million). Adjusted net loss for the full year of 2024 decreased by 25.3% from RMB33.2 million in the prior year to RMB24.8 million (US$3.4 million).","length":250,"tagName":"p"}]},{"val":[{"type":"text","content":"Total written premiums placed for the quarter increased by 15.6% year-over-year to RMB7.4 billion (US$1.0 billion), while total written premiums placed for the full year of 2024 increased by 7.5% over the prior year to RMB24.3 billion (US$3.3 billion).","length":257,"tagName":"p"}]},{"val":[{"type":"t...