Cheche Group Inc. (NASDAQ:CCG) Reports Financial Turnaround and Strategic Growth in NEV Insurance

• Cheche Group achieved its first full-year adjusted net profitability in 2025, with adjusted net income of $1.7 million (RMB 11.6 million).
• The company delivered positive net income of $1.1 million (RMB 7.8 million) in the second half of 2025.
• Revenue (net revenues) for the full year reached approximately $430 million (RMB 3.01 billion), supported by strong growth in New Energy Vehicle (NEV) insurance.
• Despite ongoing quarterly challenges and a full-year GAAP net loss, Cheche’s focus on AI-driven insurance solutions and expanding NEV partnerships positions it for continued improvement.

Cheche Group Inc. (NASDAQ:CCG) is a leading auto insurance technology platform in China. The company is transitioning from a traditional insurance platform toward an AI-driven intelligent insurance ecosystem to strengthen its competitive position in the evolving Chinese insurance market.

On April 2, 2026, Cheche reported earnings for the second half and full year 2025. The company achieved a notable financial inflection point, posting positive net income in the second half of 2025 and recording its first full-year adjusted net profit as a public company.

Key Financial Highlights for 2025:

• Net revenues: $430.4 million (RMB 3.01 billion), down 13.3% year-over-year. The decline was primarily due to a higher mix of NEV premiums, which carry lower service fee rates.
• Second half 2025 net income: $1.1 million (RMB 7.8 million), compared to a net loss of $0.9 million (RMB 6.4 million) in the prior-year period.
• Full-year 2025 net loss: $2.5 million (RMB 17.8 million), a 71% improvement from a $8.7 million (RMB 61.2 million) net loss in 2024.
• Adjusted net income (full year): $1.7 million (RMB 11.6 million), swinging from an adjusted net loss of $3.5 million (RMB 24.8 million) in the prior year — a swing of over RMB 35 million.

This turnaround was driven by disciplined cost control (operating expenses reduced ~19% year-over-year) and rapid expansion in the NEV segment. Cheche expanded its strategic partnerships with New Energy Vehicle companies to 16 OEM partnerships as of December 31, 2025. In the second half of 2025 alone, these NEV partnerships generated 1.2 million policies with corresponding written premiums of $532 million (RMB 3.7 billion), representing strong year-over-year growth.

CFO Wenting Ji highlighted the improved financial health and the company’s successful shift toward higher-quality NEV business.

Challenges and Outlook Despite the progress, Cheche still reported a full-year GAAP net loss and faced quarterly pressures, including negative EBITDA in certain periods. Cost of revenues for the full year was approximately $407.5 million (RMB 2.85 billion).

Looking ahead, management is optimistic about AI-powered pricing, anti-fraud tools, and further NEV penetration. The company provided 2026 guidance expecting net revenues of RMB 3.0–3.2 billion and a multi-fold increase in adjusted net income.