Cheche Group (CCG) H1 2026 earnings summary

Executive summary

• Partnerships with 18 NEV companies resulted in 1,049,000 policies and RMB3.2 billion in written premiums, up 29.5% and 23.7% year-over-year.

• Business restructuring focused on high-margin segments, leading to a 34.4% decline in net revenues but a gross margin increase to 6.5% from 4.9%.

• Strategic evolution into an AI-driven insurance infrastructure provider, highlighted by the launch of the ABAO Agent Family and proprietary AI pricing models.

Financial highlights

• Net revenues fell 34.4% year-over-year to RMB885.0 million (US$130.4 million).

• Gross profit decreased 12.6% to RMB57.5 million (US$8.5 million), with gross margin rising to 6.5%.

• Net loss increased 72.3% to RMB44.1 million (US$6.5 million); adjusted net loss rose 257.7% to RMB37.7 million (US$5.6 million).

• Net loss per share was RMB18.57 (US$2.74); adjusted net loss per share was RMB15.89 (US$2.34).

Outlook and guidance

• Full-year 2026 net revenue guidance revised to RMB1.5–1.8 billion, down from RMB3.0–3.2 billion.

• NEV written premiums placed guidance lowered to RMB8.0–10.0 billion from RMB10.5–12.0 billion.

• Adjusted net loss for 2026 estimated at RMB42.7–47.4 million due to ongoing restructuring.