FX.co ★ Cheche Group Posts Adj. Loss In Q4; Net Revenues Up 12.1%

Cheche Group Inc. (CCG) has disclosed a net loss for shareholders of RMB 32.0 million in its fourth quarter, which denotes an improvement from the RMB 56.3 million loss reported in the same period last year. The per-share net loss was RMB 0.42 whereas it was RMB 1.8 a year ago. After making necessary adjustments, the net loss attributable to shareholders was RMB 4.9 million, a marked improvement from the adjusted loss of RMB 50.0 million. The adjusted net loss per share stood at RMB 0.06 in contrast to RMB 1.57 in the prior year.

Year-over-year, net revenues saw a 12.1% uptick, settling at RMB 867.8 million. Cheche attributed its growth to the surge in insurance transactions carried out through its platform by the company's referral and third-party platform partners. The total written premiums put forth during the quarter witnessed a year-over-year growth of 24.7%, amounting to RMB 6.4 billion.

For the upcoming fiscal year of 2024, Cheche has projected net revenues to be in the region of RMB 3.5 billion to RMB 3.7 billion. Additionally, the written premiums are expected to come in the range of RMB 24.5 billion to RMB 26.5 billion.