Slide 1: Fourth Quarter & Full Year Ended 2024 Earnings Presentation
CHECHE GROUP Fourth Quarter & Full Year Ended 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: Digital Transformation of Auto Insurance
Digital Transformation of Auto Insurance Intelligent Driving Intelligent Claims Insurance SaaS Systems Processing Insurance product End-to-end underwriting AI-driven intelligent innovation and claims solutions claims service CHECHE GROUP’S RISK MANAGEMENT EXPERTISE IN THE ERA OF INTELLIGENT DRIVING
Slide 4: Cheche at a Glance
CHECHE AT GLANCE LARGEST NATIONWIDE >50 Million Independent technology 108 branches in 25 provinces, Vehicles Quoted3 platform for auto insurance autonomous regions, and services transactions1 & NEV municipalities embedded solutions provider2 >$10 Billion ~100 >1.3 Million Cumulative written premium
Slide 5: Cheche's Ecosystem
CHECHE’S ECOSYSTEM EV Makers NEV Insurance Solution Insurance Carriers New Policy Renewal Claims & Repair Value-added API Docks Services Claim Docks New Car Used Car Maintenance Repair Sales Sales Policy Management Auto Dealers Repair Stores Channel Management SaaS System for Auto Dealers and Repair
Slide 6: Transforming NEV Insurance
TRANSFORMING NEV INSURANCE BUILT ON DIGITALIZATION POWERED BY AI INNOVATION Data Multi- Integration Insurer Pool SaaS System Online Quotes Traditional Auto Management & Underwriting Insurance Intelligent Claims Embedded Intelligent Inspection Driving Behavior Interface Applications of Large AI Opera
Slide 7: Robust Growth of Global NEV Industry
ROBUST GROWTH OF GLOBAL NEV INDUSTRY In 2024, global NEV sales reached 18 million units, with China contributing about 13 million units, representing a significant 70% share, and by the end of 2024, China's total new energy vehicle count had reached 31.4 million units. 2024中国新能源汽车 2024 NEV Penetrati
Slide 8: NEV Insurance, New Growth Engine in Auto Insurance Market
NEV INSURANCE, NEW GROWTH ENGINE IN AUTO INSURANCE MARKET The rapid growth in the scale of the NEV market has driven a swift increase in demand for NEV insurance. In 2024, auto insurance premiums amounted to RMB 914 billion, representing 5.3% growth, while NEV insurance premiums surpassed RMB 140 bi
Slide 9: Leading Intelligent NEV Insurance Platform in China
LEADING INTELLIGENT NEV INSURANCE PLATFORM IN CHINA 15 Partnerships with Top NEV Companies SaaS System Quotes & Claims Ecosystem Compliance Platform Development Digitized Operation Management INTELLIGENT NEV INSURANCE PLATFORM Product Design AI Modelling Liability Product Rate Setting Dynamic Pricin
Slide 10: 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 15 partnerships as of December 31, 2024. • During the quarter, over 441,000 policies were embedded, while the premium scale reached about RMB
Slide 11: Q4 and 2024 Business Growth
Q4 AND 2024 BUSINESS GROWTH Policy Transaction Volume Premium Transaction Scale (policies in millions) (RMB in billions) 7.4 5.1 6.4 4.8 Q4'23 Q4'24 Q4'23 Q4'24 24.3 22.6 17.3 15.8 2023 2024 2023 2024 11
Slide 12: Q4 Financial Summary
Q4 FINANCIAL SUMMARY Three Months Ended December 31, 2023 2024 2024 RMB RMB USD (in millions) Net Revenues 867.8 983.6 134.8 Cost of Revenues (824.4) (932.0) (127.7) Cost and Operating Expenses1 (916.4) (986.7) (135.2) Net (Loss)/ Income (32.0) (10.4) (1.4) Adjusted Net (Loss)/Income2 (4.9) (3.0) (0
Slide 13: 2024 Financial Summary
2024 FINANCIAL SUMMARY Year Ended December 31, 2023 2024 2024 RMB RMB USD (in millions) Net Revenues 3,301.4 3,473.1 475.8 Cost of Revenues (3,161.2) (3,314.4) (454.1) Cost and Operating Expenses1 (3,469.2) (3,539.7) (484.9) Net (Loss)/ Income (159.6) (61.2) (8.4) Adjusted Net (Loss)/Income2 (33.2)
Slide 14: 2025 Outlook
2025 OUTLOOK Range from RMB3.6 billion to RMB3.8 billion, representing an increase of Net Revenues 3.7% to 9.4 %, compared to the full year of 2024 Range from RMB25.5 billion to RMB27.0 billion, representing an increase Total Written Premiums Placed of 4.9% to 11.1%, compared to the full year of 202
Slide 15: Strategic Growth Pillars
STRATEGIC GROWTH PILLARS Investing in technology Deepening relationships with partners Expanding into new verticals Broadening SaaS offerings Driving platform traffic 15 15
Slide 16: Appendix
PPENDIX re
Slide 17: Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands, except for share and per share data) i
Slide 18: 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) ii
Slide 19: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Cheche has provided non-GAAP financial measures in this presentation that have not been prepared in accordance with generally accepted accounting principles (GAAP) in the United States. Cheche uses adjusted cost of revenues, adjusted selling and marketing expenses, adjust
Slide 20: Reconciliation of GAAP Cost and Operating Expenses to Non-GAAP
Reconciliation of GAAP Cost and Operating Expenses and Operating Loss/Income to Non-GAAP Cost and Operating Expenses and Operating Loss/Income (Unaudited) (amounts in thousands, except share data and per share amounts) iv
Slide 21: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures (Unaudited) (All amounts in thousands, except for share data and per share data) For the Three Months Ended For the Year Ended December 31, December 31, December 31, December 31, December 31, December 31, 2,023 2,024 2,024 2,023 2,024 2,024 RMB RMB USD RMB
Slide 22: Thank You
THANK YOU Technology Enables Better Lives NASDAQ : CCG