Cheche Group signs term sheet for 20% stake in Long Way Fortune at implied US$490 million valuation

Cheche Group signed a non-binding term sheet for a strategic minority investment in Long Way Fortune, a residential solar-and-storage business.

• Initial stake set at 20%, with an option to lift ownership to as much as 51% over time, tied to conditions and milestones.
• Stock-for-stock structure at an implied equity value of USD 490 million, with consideration stock-linked and released on a delayed schedule.
• Closing targeted by Dec. 31, 2026, subject to due diligence, definitive documents, required approvals, regulatory clearances, and Nasdaq clearance.