Slide 1: Cheche Group First Quarter 2024 Earnings Presentation
CHECHE GROUP First Quarter 2024 Earnings Presentation Technology Enables Better Lives
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “projec
Slide 3: Cheche at a Glance
CHECHE AT A GLANCE LARGEST LEADING Independent Technology Platform for Provider of EV embedded solutions Auto Insurance Services Transactions1 in the industry2 NATIONWIDE ~49 Million 110+ branches in 25 Provinces Vehicles Covered Quoted3 and ~1.2M Referral Partners4 ~ 4.0Million >$7 Billion Policies
Slide 4: Unique Value Proposition
UNIQUE VALUE PROPOSITION VALUE PROPOSITION FOR INSURERS VALUE PROPOSITION FOR AND INSURANCE INTERMEDIARIES e Enterp CONSUMERS Mor Clients rise Customer acquisitions at scale Broad consumer choice n gra r Co tio Inte eepe Moumers ns re D Highly integrated into Customer insights Tra consumer touchpoin
Slide 5: Critical Market Dynamics in China
CRITICAL MARKET DYNAMICS IN CHINA Explosive Sales of NEVs Government Policies Promote Reform • Embedded auto insurance offerings create new revenue streams • Greater consumer choice and transparency • High cost of collisions increases risk to insurers • Increased personalization of premiums to • For
Slide 6: Unique Characteristics of NEV Insurance
UNIQUE CHARATERISTICS OF NEV INSURANCE Embedded / Subscribed Data Driven Life-Time Value System Insurance AI Actuarial Development Operations Data Analytics Model Insurance throughout the Lifecycle Industry Integrated Products, Smart Data Connections, AI Actuarial Scenario Insurance, Value Added Pat
Slide 7: Leading NEV Intelligent Insurance Platform in China
LEADING NEV INTELLIGENT INSURANCE PLATFORM IN CHINA 11 Partnerships with Top NEV Manufacturers SaaS System Quotes & Claims Ecosystem Compliance Platform Development Digitized Operation Management NEV INTELLIGENT INSURANCE PLATFORM Product Design AI Modelling Liability Product Rate Setting Dynamic Pr
Slide 8: Cheche Critical Milestones
CHECHE CRITICAL MILESTONES New NEV Partnerships • Leading provider of NEV embedded solutions in the industry. • Cheche continues to capture market share with 11 partnerships as of March 31, 2024. • During the quarter, over 119,000 policies were embedded in new car deliveries, while the premium scale
Slide 9: Q1 Business Growth
Q1 BUSINESS GROWTH Policy Transaction Volume Premium Transaction Scale (policies in millions) (RMB in billions) 5.4 5.0 4.0 3.3 Q1'23 Q1'24 Q1'23 Q1'24 9
Slide 10: Q1 Financial Summary
Q1 FINANCIAL SUMMARY Three Months Ended March 31, 2023 2024 2024 RMB RMB USD (in millions) Net Revenues 779.7 787.1 109.0 Cost of Revenues (745.9) (753.4) (104.3) Operating Expense1 (80.7) (65.7) (9.1) Net Loss (43.9) (31.3) (4.3) Adjusted Net (Loss)2 (7.8) (12.2) (1.7) Net Loss attributable to Chec
Slide 11: 2024 Outlook
2024 OUTLOOK Expected to range from RMB3.5 billion to RMB3.7 billion, Net representing an increase of 6.1% to 12.1%, compared to the Revenue full year of 2023. Total Written Expected to range from RMB24.5 billion to RMB26.5 billion, Premiums representing an increase of 8.4% to 17.3%, compared to the
Slide 12: Strategic Growth Pillars
STRATEGIC GROWTH PILLARS Investing in technology Deepening relationships with partners Expanding into new verticals Broadening SaaS offerings Driving platform traffic 12 12
Slide 13: Appendix
APPENDIX
Slide 14: Unaudited Condensed Consolidated Balance Sheets
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for share and per share data) Decem ber 31, March 31, March 31, 2023 2024 2024 RMB RMB USD ASSETS Current assets: Cash and cash equivalents 243,392 219,566 30,410 Short-term investments 21,474 14,416 1,997 Accounts rec
Slide 15: Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (All amounts in thousands, except for share and per share amounts) For the Three Months Ended March 31, March 31, March 31, 2023 2024 2024 RMB RMB USD Net revenues 779,650 787,144 109,018 Cost of revenues (745,943) (753
Slide 16: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Cheche has provided in this presentation non-GAAP financial measures that have not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). Cheche uses adjusted total operating expenses, adjusted net loss and adjusted net loss
Slide 17: Reconciliation of GAAP to Non-GAAP Measures
RECONCILIATION OF GAAP TO NON-GAAP MEASURES (Unaudited) (amounts in thousands, except share data and per share amounts) For the Three Months Ended March 31, March 31, March 31, 2023 2024 2024 RMB RMB USD Net loss (43,947) (31,271) (4,331) Add:Share-based compensation expenses 31,495 17,268 2,392 Amo
Slide 18: Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses
Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses (Unaudited) (All amounts in thousands) For the Three Months Ended March 31, March 31, March 31, 2023 2024 2024 RMB RMB USD Selling and marketing expenses (30,812) (22,319) (3,092) Add:Share-based compensation expenses 9,059 2,6
Slide 19: Thank You
THANK YOU Technology Enables Better Lives NASDAQ : CCG