# CCG earnings call intelligence

LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/CCG) · [Earnings tab](https://www.lopjlb.com/stock/CCG?tab=earnings)

Updated: 2026-09-07T01:32:58

Quarters analyzed: 2

## Latest CallCard · Q4

Cheche Group achieved first full-year adjusted profitability in 2025 (RMB 11.6M) despite revenue decline from NEV mix shift; guided for 2026 net revenue RMB 3.0-3.2B, NEV premiums RMB 10.5-12B, and adjusted net income to multiply several fold; advancing AI across insurance value chain and expanding 

**Guidance:** maintained — Provided specific 2026 ranges: net revenue RMB 3.0-3.2B, total written premiums RMB 28-30B, NEV written premiums RMB 10.5-12B, adjusted net income to multiply several fold vs 2025.

**Tone:** mgmt 0.7 · Q&A pressure 0.2 · divergence 0.5

Management highlighted first full-year adjusted profitability, gross margin expansion, AI-driven transformation, deepening OEM partnerships, and confident 2026 guidance.

### Demand visibility

Strong NEV premium growth (91% YoY) offsets traditional auto fee compression; 2026 guidance implies continued NEV expansion.

NEV embedded policies grew 85% YoY to 2.0M, premiums 91% to RMB 6.3B (23.4% of total). Total written premiums up 11% to RMB 27B. Management expects NEV premiums to reach RMB 10.5-12B in 2026 (66-90% YoY). International demand from Chinese automaker exports (8M vehicles annually) provides long-term vector.

### Margins / costs

Gross margin expanding as higher-margin NEV mix grows; operating expenses down ~20% YoY driving adjusted operating profitability.

H2 2025 gross profit +0.5% to RMB 94.6M despite revenue -9.4%; full-year gross profit +1% to RMB 160.4M. Gross margin expansion from NEV share increase (23.4% vs 13.6%). Total operating expenses -19.6% to RMB 181.2M; adjusted operating income RMB 5.6M vs loss prior year.

### Capital allocation

Selective investment in international expansion and AI capabilities; cash balance RMB 170.8M; no dividends/buybacks mentioned.

Management prioritizes growing renewal insurance penetration via AI tools, expanding platform relationships with Huawei, Volkswagen, other NEV partners, and selective international investment. R&D leverages AI/LLM to accelerate development without proportional headcount increase. Cash and short-term investments RMB 170.8M as of Dec 31, 2025.

### Milestones

- **AI pricing model deployment with insurers** [on_track]: Actively deploying AI pricing model in collaboration with several leading insurance companies and through data partnerships with intelligent connected vehicle manufacturers.
- **Insurance anti-fraud and risk control model** [delivered]: Recognized in Top 100 AI product of 2024; integrates big data, AI, and biometrics for fraud identification, precise risk pricing, and claims efficiency.
- **AI agent for car owner renewal engagement** [on_track]: Developing and

## Quarter one-liners

- **2025 Q4:** Cheche Group achieved first full-year adjusted profitability in 2025 (RMB 11.6M) despite revenue decline from NEV mix shift; guided for 2026 net revenue RMB 3.0-3.2B, NEV premiums RMB 10.5-12B, and adjusted net income to multiply several fold; advancing AI across insurance value chain and expanding 
- **2025 Q2:** Cheche posted a 47% loss reduction, strong NEV premium growth and launched AI-driven insurance tools, while revising 2025 revenue guidance lower and targeting 30‑40% NEV market share with global expansion plans.

## Guidance path

2025 Q2:lowered → 2025 Q4:maintained

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