Cheche Group Posts First $1.7M Adjusted Profit, Grows NEV OEM Partnerships to 16
Cheche Group delivered its first full-year adjusted net profit of $1.7 million in 2025, supported by a $1.1 million net income in H2 and disciplined expense cuts of 19%. Its NEV partnerships grew to 16 OEMs, generating 1.2 million policies with $532 million in premiums, while revenues reached $430.4 million.
1. Financial Turnaround
In 2025 Cheche saw net revenues of $430.4 million, down 13.3% year-over-year, and reduced its full-year GAAP net loss to $2.5 million—a 71% improvement from 2024. The company swung to a full-year adjusted net profit of $1.7 million and delivered $1.1 million of net income in the second half, reversing a $0.9 million loss in H2 2024.
2. NEV Segment Growth
Cheche expanded its New Energy Vehicle insurance partnerships to 16 OEMs by December 31, 2025. In H2 the NEV segment issued 1.2 million policies, driving written premiums of $532 million and positioning the company for continued growth in higher-volume, lower-rate business.
3. Cost Control Measures
Disciplined expense management led to a 19% reduction in operating expenses year-over-year, while cost of revenues for the full year was approximately $407.5 million. These measures underpinned the swing to adjusted profitability despite continued GAAP net losses.
4. 2026 Outlook
Management expects 2026 net revenues of RMB 3.0–3.2 billion and a multi-fold increase in adjusted net income. The company plans to leverage AI-powered pricing and anti-fraud tools alongside deeper NEV market penetration to drive future profitability.