Slide 1: Cheche Group Third Quarter 2024 Earnings Presentation
CHECHE GROUP Third 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 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 >$9 Billion ~100 ~1.3 Million Cumulative written premiums
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 Digital Accessibility 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 Intelligent NEV Insurance Platform in China
LEADING INTELLIGENT NEV INSURANCE PLATFORM IN CHINA 14 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 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 14 partnerships as of September 30, 2024. • During the quarter, over 292,000 policies were embedded in new car deliveries, while the premium s
Slide 9: Q3 Business Growth
Q3 BUSINESS GROWTH Policy Transaction Volume Premium Transaction Scale (policies in millions) (RMB in billions) 5.6 5.9 4.0 4.2 Q3'23 Q3'24 Q3'23 Q3'24 9
Slide 10: Q3 Financial Summary
Q3 FINANCIAL SUMMARY Three Months Ended September 30, 2023 2024 2024 RMB RMB USD (in millions) Net Revenues 823.3 850.5 121.2 Cost of Revenues (784.8) (808.1) (115.2) Cost and Operating Expenses1 (872.0) (856.8) (122.1) Net (Loss)/ Income (55.4) 4.1 0.6 Adjusted Net (Loss)/Income 2 (0.6) 2.6 0.4 Net
Slide 11: Affirming 2024 Outlook
Affirming 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 Revenues 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%, comp
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) December 31, September 30, September 30, 2023 2024 2024 RMB RMB USD ASSETS Current assets: Cash and cash equivalents 243,392 131,110 18,683 Short-term investments 21,474 63,512 9,050 Accou
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 For the Nine Months Ended September 30, September 30, September 30, September 30, September 30, September 30, 2023 2024 2024
Slide 16: 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 17: Reconciliation of GAAP Cost and Operating Expenses to Non-GAAP
Reconciliation of GAAP Cost and Operating Expenses to Non-GAAP Cost and Operating Expenses (Unaudited) (amounts in thousands, except share data and per share amounts) For the Three Months Ended For the Nine Months Ended September 30, September 30, September 30, September 30, September 30, September
Slide 18: 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 Nine Months Ended Septem ber 30, Septem ber 30, Septem ber 30, Septem ber 30, Septem ber 30, Septem ber 30, 2023 2024 2024 2023 2024 2024 RM
Slide 19: Thank You
THANK YOU Technology Enables Better Lives NASDAQ : CCG