Cheche Group Inc, an online platform for auto insurance distribution in China, has announced receipt of a notice from the Nasdaq Stock Market indicating that the company has fallen short of the minimum bid price threshold required for continued listing.
According to a June 5 communication from Nasdaq’s Listing Qualifications Department, Cheche’s Class A ordinary shares had traded below US$1.00 for 31 consecutive business days, breaching the criteria outlined in Nasdaq Listing Rule 5550(a)(2).
The company clarified that its listing remains active and that the notice does not immediately affect its trading status.
Under applicable rules, Cheche has until Dec. 2, 2025, to address the issue. If its share price closes at or above US$1.00 for at least 10 straight trading days during this period, Nasdaq will consider the matter resolved.
Failing that, Cheche may qualify for a further 180-day extension if it continues to meet other listing conditions and communicates its plan to regain compliance.
The company stated it is evaluating options and intends to continue tracking its stock price closely. It also affirmed that the notice has no impact on business operations or reporting obligations.
In its unaudited financial results for 2024, Cheche reported a 5.2% increase in full-year revenue, reaching RMB3.5 billion (US$475.8 million).
Fourth-quarter (Q4) revenue grew 13.4% from the same period in 2023, totalling RMB983.6 million (US$134.8 million), primarily attributed to increased insurance activity via affiliate partners.
Annual operating losses declined significantly to RMB66.5 million (US$9.1 million), marking a 60.3% improvement from 2023.
The fourth quarter saw operating losses narrow to RMB3.0 million (US$0.4 million), representing a year-on-year decline of 93.7%.
When adjusted for one-time items, the company posted a Q4 operating profit of RMB1.3 million (US$0.2 million), while the adjusted annual loss dropped 40.2% to RMB28.2 million (US$3.9 million). The net loss for the year came in at RMB61.2 million (US$8.4 million), down from RMB159.6 million the year prior.
The total value of written premiums for 2024 reached RMB24.3 billion (US$3.3 billion), a 7.5% increase, while the number of policies issued rose to 17.3 million, up from 15.8 million in 2023.
Cheche reported in March that it had regained compliance with Nasdaq’s minimum bid price requirement, following a non-compliance notice received in late 2024.
The company’s share price met the minimum standard in February 2025, maintaining compliance for 10 consecutive trading days.
For 2025, Cheche projects revenues in the range of RMB3.6 billion to RMB3.8 billion, with written premiums expected to fall between RMB25.5 billion and RMB27.0 billion.
New energy vehicle (NEV)-related premiums are forecast to rise to RMB7.0 billion to RMB8.0 billion, continuing the growth trajectory in this segment.
