车车集团上半年收入下滑并大幅下调全年收入和新能源车保费指引

----- form6-k.htm -----
6-K
1
form6-k.htm
6-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
OF
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of September 2026
Commission
File Number 001-41801
Cheche
Group Inc.
8/F,
Desheng Hopson Fortune Plaza
13-1
Deshengmenwai Avenue
Xicheng
District, Beijing 100088, China
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
September 4, 2026
By:
/s/
Lei Zhang
Name:
Lei
Zhang
Title:
Chief
Executive Officer and Director
EXHIBIT
INDEX
Exhibit
Number
Description
99.1
Press Release

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EX-99.1
2
ex99-1.htm
EX-99.1
Exhibit
99.1
Cheche
Group Reports First Half 2026 Unaudited Financial Results
BEIJING– September 4, 2026 –
Cheche Group Inc
. (NASDAQ: CCG) (“Cheche”, “the Company” or “we”),
China’s leading auto insurance technology platform, today announced its unaudited financial results for the six months ended June
30, 2026.
Key
Business Highlights
●
Partnerships
with New Energy Vehicle (NEV) companies
numbered 18 in the first half 2026 and led to
1,049,000 policies with corresponding written premium of RMB3.2 billion (US$472.0 million),
representing an increase of 29.5% and 23.7%, respectively, compared to the prior-year period.
●
Net
revenues
decreased 34.4% to RMB885.0 million (US$130.4 million) as we have been proactively
restructuring business portfolio to focus on high-margin segments.
●
Gross
margin
increased to 6.5% from 4.9% in the prior-year period, driven by an improved
business mix, with NEV premiums increasing
to 31.0% of total written premiums from 22.5% in the prior-year period.
Management
Comments
“In
the first half of 2026, Cheche made meaningful progress in reshaping our business for the next phase of growth,” said Lei
Zhang, Founder, CEO and Chairman of Cheche. “We made deliberate choices to shift away from lower-margin, less strategic
revenue streams and concentrate our resources on the business and capabilities where we believe we can create greater long-term
value through technology, data and differentiated solutions. As a result, while net revenues declined 34.4% to RMB885.0
million, gross margin expanded by 160 basis points, reflecting a fundamentally stronger revenue mix.
“This
transformation is now visibly expressed in our recent launch of the ABAO Agent Family – a suite of five specialized AI agents,
built on Cheche’s proprietary vertical insurance large language model that spans the full NEV insurance lifecycle from dynamic
pricing to claims processing. Together with our Cheche Score and proprietary NEV intelligent pricing model, ABAO marks our strategic
evolution from a digital insurance transaction platform into an AI-driven insurance infrastructure provider. These capabilities are
deepening our relationships with insurance carrier partners, improving the economics of our core
operations and expanding the ways in which our technology can be applied.
“Transformation requires discipline, and we remain focused on streamlining operations, strengthening our foundation
and directing resources toward our highest-value opportunities. We are also exploring ways to broaden our platform and enhance the scale
and resilience of our operations as we enter the next phase of our evolution. Our objective is to build a more diversified enterprise
with the flexibility to pursue compelling opportunities while maintaining disciplined execution and a clear focus on shareholder value.”
Unaudited
First Half Year 2026 Financial Results
Net
Revenues
were RMB885.0 million (US$130.4 million), representing a 34.4% year-over-year decrease from the prior-year period as a result
of the restructuring of our business portfolio.
Cost
of Revenues
decreased 35.5% year-over-year to RMB827.6 million (US$122.0 million) from the prior-year period due to a decline in
net revenues and higher gross margin driven by the restructuring of our business portfolio.
Gross
profit
decreased 12.6% to RMB57.5 million (US$8.5 million) compared to the prior-year period due to the decrease of net revenues,
partially offset by the improved business structure which led to a higher gross margin.
Selling
and Marketing Expenses
decreased 4.3% to RMB35.6 million (US$5.3 million) from RMB37.3 million in the prior-year period, mainly due
to the decrease in staff cost and share-based compensation expenses. Excluding share-based compensation expenses, selling and marketing
expenses were RMB34.5 million (US$5.1 million), a decrease of 2.5% compared to the prior-year period.
General
and Administrative Expenses
increased 55.4% to RMB57.9 million (US$8.5 million) from RMB37.3 million for the prior-year period due
to the recognition of RMB35.1 million (US$5.2 million) specific allowance of credit losses for long-aged and high-risk
receivables, partially offset by the decrease in share-based compensation expenses and professional service fees. Excluding share-based
compensation expenses, general and administrative expenses increased 112.7% year over year, from RMB26.6 million to RMB56.5 million (US$8.3
million).
Research
and Development Expenses
decreased 21.0% to RMB14.5 million (US$2.1 million) from RMB18.3 million in the prior-year period, mainly
due to the decrease in staff costs and professional service fees. Excluding share-based compensation expenses, research and development expenses
decreased 21.0% to RMB14.1 million (US$2.1 million) from RMB17.8 million in the prior-year period.
Total
Operating Expenses
increased 16.4% to RMB108.0 million (US$15.9 million) from RMB92.8 million in the prior-year period, mainly due
to the recognition of specific allowance of credit losses for long-aged and high-risk receivables, partially offset by the decrease in
staff cost, share-based compensation expenses and professional service fees. Excluding share-based compensation expenses, total operating
expenses increased 31.8% to RMB105.1 million (US$15.5 million) from RMB79.8 million in the prior-year period.
Net
Loss
increased 72.3% to RMB44.1 million (US$6.5 million) from RMB25.6 million in the prior-year period. Excluding non-GAAP expenses,
the
Adjusted Net Loss
increased 257.7% to RMB37.7 million (US$5.6 million) from RMB10.5 million in the prior-year period.
Net
Loss Per Share
, basic and diluted, was RMB18.57 (US$2.74), increasing RMB7.68 from a loss of RMB10.89 for the prior-year period.
Adjusted
Net Loss Per Share
, basic and diluted, was RMB15.89 (US$2.34), increasing RMB11.4 from a loss of RMB4.49 for the prior-year period.
First
Half Year 2026 Business Developments
●
On
January 29, 2026, Cheche announced that Volkswagen (Anhui) Digital Sales and Services Co., Ltd (“DSSO”), Beijing Cardif Airstar
Property & Casualty Insurance Co., Ltd. (“Cardif Airstar Insurance”), and Cheche Group Inc. held a strategic cooperation
signing ceremony on January 29, 2026. They will collaborate to develop digital insurance services for Volkswagen owners and
expand into areas such as intelligent pricing, intelligent-driving insurance, and non-auto insurance. The partnership aims to establish
a digital financial and insurance service system covering the full lifecycle of electric vehicle ownership.
●
On
May 28, 2026, Cheche announced the official launch of its proprietary, AI large model-driven intelligent connected vehicle pricing product.
Targeting China’s expanding market of approximately 20 million intelligent connected NEVs, the platform utilizes advanced machine learning
and multi-dimensional data analytics. By analyzing real-time driving behavior, usage patterns, and localized risk scenarios, the technology
delivers precise, personalized insurance pricing tailored to individual drivers.
●
On
June 22, 2026, Cheche announced the official launch of “ABAO Agent,” an AI-powered intelligent underwriting agent. ABAO
Agent is now commercially deployed in auto insurance renewal scenarios at scale. Its 24/7 autonomous capabilities allow the agent
to independently execute the complete renewal workflow—customer outreach, needs identification, policy follow-up, and conversion—functions
that previously required dedicated human teams. The result is a reduction in labor and operational costs for carrier partners, with
no compromise to service continuity.
●
On
June 24, 2026, Cheche announced the launch of “Cheche Score,” a proprietary AI-powered dynamic pricing solution for NEV insurance.
Cheche Score is fully commercialized and functioning across multiple cities in China. Cheche has entered into dedicated AI-powered renewal
cooperation agreements with several of China’s largest insurance carriers, jointly building a digital operating ecosystem that connects
intelligent pricing, precision renewal, and closed-loop customer service.
●
On September 1, 2026, Cheche announced the launch of the ABAO Agent Family, a suite of five specialized AI agents built on Cheche’s
proprietary vertical insurance large language model. Spanning the full NEV insurance lifecycle, from dynamic pricing optimization to claims
processing and specialized diagnostics, the ABAO Agent Family marked Cheche’s strategic evolution from a digital insurance transaction
platform into an AI-driven insurance infrastructure provider.
Balance
Sheet
As
of June 30, 2026, the Company had RMB173.7 million (US$25.6 million) in total cash and cash equivalents, restricted cash and short-term
investments.
Business
Outlook
For
the full year 2026:
●
Cheche is revising its
Net Revenue
guidance to an approximate range of RMB1.5 billion to RMB1.8 billion, from the previously
announced approximate range of RMB3.0 billion to RMB3.2 billion, to reflect the impact of its ongoing business
restructuring.
●
Cheche is revising its
NEV Written Premiums Placed
guidance to an approximate range of RMB8.0 billion to RMB10.0 billion from
the previously announced approximate range of RMB10.5 billion to RMB 12.0 billion, to reflect the change of NEV sales in the
domestic market.
●
Cheche ceased using
Total Written Premiums Placed
as a key business performance indicator as a result of its strategic
pivot.
●
Cheche is estimating an
Adjusted Net Loss
range of RMB42.7 million to RMB47.4 million for the full year 2026, due primarily
to the ongoing restructuring.
Exchange
Rate Information
This
announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the reader’s convenience.
Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.7851 to US$1.00,
the exchange rate on June 30, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation
that the RMB or U.S. dollar amounts referenced could be converted into U.S. dollars or RMB, as the case may be, at any particular rate
or at all.
About
Cheche Group Inc.
Established
in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around
101 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing
on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform
that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more
at
https://www.chechegroup.com/en
.
Cheche
Group Inc.:
IR@chechegroup.com
Crocker
Coulson
crocker.coulson@aummedia.org
(646)
652-7185
Non-GAAP
Financial Measures
Cheche
has provided non-GAAP financial measures in this press release that have not been prepared in accordance with generally accepted accounting
principles (GAAP) in the United States.
Cheche
uses adjusted selling and marketing expenses, adjusted general and administrative expenses, adjusted research and development expenses,
adjusted total operating expenses, adjusted net loss, and adjusted net loss per share, which are non-GAAP financial measures, in evaluating
our operating results and for financial and operational decision-making purposes.
Cheche
defines adjusted total operating expenses as total operating expenses adjusted for the impact of share-based compensation. Cheche defines
adjusted net loss as net loss adjusted for the impact of share-based compensation expenses, amortization of intangible assets, and changes
in fair value of amounts due to a related party related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously
named Fanhua Times Sales and Service Co., Ltd), and change in fair value of warrants. Adjusted net loss per share, basic and diluted, is
calculated as adjusted net loss divided by weighted-average ordinary shares outstanding.
Cheche
believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by
the impact of share-based compensation expenses, amortization of intangible assets related to acquisition, and change in fair value of
amounts due to a related party related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua
Times Sales and Service Co., Ltd),and change in fair value of warrants. Cheche believes that such non-GAAP financial measures also provide
useful information about its operating results, enhance the overall understanding of its past performance and future prospects, and allow
for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.
The
non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. They should not be considered
in isolation or construed as alternatives to net loss or any other measure of performance or as an indicator of Cheche’s operating
performance. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies.
Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s
data. Cheche encourages investors and others to review the Company’s financial information in its entirety and not rely on a single
financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP
measures. Cheche mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance
measures, all of which should be considered when evaluating its performance.
Safe
Harbor Statements
This
press release 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,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions
that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also
include, but are not limited to, statements regarding projections, estimations, and forecasts of revenue and other financial and performance
metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, the Company’s
advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions,
whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions
of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company’s actual results,
levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements.
Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S.
Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained
in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known
and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views
of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may
be required by law, the Company does not undertake any duty to update these forward-looking statements.
Unaudited
Condensed Consolidated Balance Sheets (All amounts in thousands, except for share and per share data)
December 31,
June 30,
June 30,
2025
2026
2026
RMB
RMB
USD
ASSETS
Current assets:
Cash and cash equivalents
144,511
131,730
19,415
Restricted cash
5,000
41,779
6,157
Short-term investments
226
226
33
Amounts due from related parties
-
14,303
2,108
Accounts receivable, net
1,145,752
665,931
98,146
Prepayments and other current assets
60,059
64,256
9,470
Total current assets
1,355,548
918,225
135,329
Non-current assets:
Restricted cash
21,086
-
-
Property, equipment and leasehold improvement, net
831
893
132
Intangible assets, net
3,850
2,800
413
Right-of-use assets
6,453
5,016
739
Goodwill
84,609
84,609
12,470
Other non-current assets
2,477
1,981
292
Total non-current assets
119,306
95,299
14,046
Total assets
1,474,854
1,013,524
149,375
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable
842,728
430,847
63,499
Short-term borrowings
80,500
98,190
14,471
Contract liabilities
1,044
1,238
182
Salary and welfare benefits payable
83,686
79,321
11,690
Tax payable
22,657
18,320
2,700
Amounts due to a related party
50,626
52,949
7,804
Accrued expenses and other current liabilities
19,206
20,167
2,974
Short-term lease liabilities
4,727
3,510
517
Total current liabilities
1,105,174
704,542
103,837
Non-current liabilities:
Deferred tax liabilities
963
700
103
Long-term borrowings
9,800
-
-
Long-term lease liabilities
801
604
89
Deferred revenue
1,432
1,432
211
Warrant
1,512
1,544
228
Total non-current liabilities
14,508
4,280
631
Total liabilities
1,119,682
708,822
104,468
Ordinary shares
6
6
1
Treasury stock
(1,025
)
(1,025
)
(151
)
Additional paid-in capital
2,550,197
2,553,093
376,279
Accumulated deficit
(2,192,846
)
(2,236,903
)
(329,679
)
Accumulated other comprehensive loss
(1,160
)
(10,469
)
(1,543
)
Total the Company’s
shareholders’ equity
355,172
304,702
44,907
Total liabilities and shareholders’ equity
1,474,854
1,013,524
149,375
Unaudited
Condensed Consolidated Statements of Operations and Comprehensive Loss (All amounts in thousands, except for share and per share data)
For the Six Months Ended
June 30,
June 30,
June 30,
2025
2026
2026
RMB
RMB
USD
Net revenues
1,348,652
885,048
130,440
Cost of revenues
(1,282,869
)
(827,573
)
(121,969
)
Gross profit
65,783
57,475
8,471
Operating expenses:
Selling and marketing expenses
(37,250
)
(35,637
)
(5,252
)
General and administrative expenses
(37,255
)
(57,902
)
(8,534
)
Research and development expenses
(18,293
)
(14,457
)
(2,131
)
Total operating expenses
(92,798
)
(107,996
)
(15,917
)
Operating loss
(27,015
)
(50,521
)
(7,446
)
Other expenses:
Interest income
1,669
1,112
164
Interest expense
(1,213
)
(1,396
)
(206
)
Foreign exchange gains
893
6,630
977
Government grants
1,295
2,839
418
Changes in fair value of warrant
1,114
(80
)
(12
)
Changes in fair value of amounts due to related party
(2,052
)
(2,330
)
(343
)
Others, net
(454
)
(552
)
(81
)
Loss before income tax
(25,763
)
(44,298
)
(6,529
)
Income tax benefit
195
241
36
Net loss
(25,568
)
(44,057
)
(6,493
)
Other comprehensive loss:
Foreign currency translation adjustments, net of nil tax
(1,302
)
(9,316
)
(1,373
)
Fair value changes of amounts due to related party due to own credit risk
(453
)
7
1
Total other comprehensive loss
(1,755
)
(9,309
)
(1,372
)
Total comprehensive loss
(27,323
)
(53,366
)
(7,865
)
Net loss per ordinary shares outstanding
(1)
Basic
(10.89
)
(18.57
)
(2.74
)
Diluted
(10.89
)
(18.57
)
(2.74
)
Weighted average number of ordinary shares outstanding
(1)
Basic
2,348,249
2,372,032
2,372,032
Diluted
2,348,249
2,372,032
2,372,032
(1)
The shares and per share information are presented on a retroactive basis to reflect the 35-for-1 share consolidation of its Class A
ordinary shares and Class B ordinary shares effective on July 20, 2026.
Reconciliation
of GAAP Operating Expenses to Non-GAAP Operating Expenses (Unaudited)
(All
amounts in thousands)
For the Six Months Ended
June 30,
June 30,
June 30,
2025
2026
2026
RMB
RMB
USD
Selling and marketing expenses
(37,250
)
(35,637
)
(5,252
)
Add: Share-based compensation expenses
1,851
1,135
167
Adjusted Selling and marketing expenses
(35,399
)
(34,502
)
(5,085
)
General and administrative expenses
(37,255
)
(57,902
)
(8,534
)
Add: Share-based compensation expenses
10,674
1,354
200
Adjusted General and administrative expenses
(26,581
)
(56,548
)
(8,334
)
Research and development expenses
(18,293
)
(14,457
)
(2,131
)
Add: Share-based compensation expenses
512
407
60
Adjusted Research and development expenses
(17,781
)
(14,050
)
(2,071
)
Total operating expenses
(92,798
)
(107,996
)
(15,917
)
Adjusted total operating expenses
(79,761
)
(105,100
)
(15,490
)
Reconciliation
of GAAP Net Loss and Net Loss Per Ordinary Share to Non-GAAP Net Loss and Net Loss Per Ordinary Share (Unaudited)
(All
amounts in thousands, except for share data and per share data)
For the Six Months Ended
June 30,
June 30,
June 30,
2025
2026
2026
RMB
RMB
USD
Net loss
(25,568
)
(44,057
)
(6,493
)
Add: Share-based compensation expenses
13,040
2,896
427
Amortization of intangible assets related to acquisition
1,050
1,050
155
Changes in fair value of warrant
(1,114
)
80
12
Changes in fair value of amounts due to related party
2,052
2,330
343
Adjusted net loss
(10,540
)
(37,701
)
(5,556
)
Weighted average number of ordinary shares used
in computing non-GAAP adjusted net loss per ordinary share
(1)
Basic
2,348,249
2,372,032
2,372,032
Diluted
2,348,249
2,372,032
2,372,032
Net loss per ordinary share
(1)
Basic
(10.89
)
(18.57
)
(2.74
)
Diluted
(10.89
)
(18.57
)
(2.74
)
Non-GAAP adjustments to net loss per ordinary
share
(1)
Basic
6.40
2.68
0.40
Diluted
6.40
2.68
0.40
Adjusted net loss per ordinary share
(1)
Basic
(4.49
)
(15.89
)
(2.34
)
Diluted
(4.49
)
(15.89
)
(2.34
)
(1)
The shares and per share information are presented on a retroactive basis to reflect the 35-for-1 share consolidation of its Class A
ordinary shares and Class B ordinary shares effective on July 20, 2026.