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Cheche Group (CCG)
NASDAQ:CCG
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Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.02Last Year’s EPS
-$0.06Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 26, 2024
|% Change Since: 2.33%
|Next Earnings Date:Mar 27, 2025
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook for Cheche Group, highlighting its recent profitability, strong growth in the NEV sector, and successful expansion of partnerships. Despite some challenges related to lower commission rates and high claims ratios in NEV insurance, the company's strategic focus and cost reductions have led to substantial improvements.Company Guidance
During the Cheche Group's Q3 2024 earnings call, the company reaffirmed its full-year guidance, projecting net revenues between RMB 3.5 billion and RMB 3.7 billion, marking an increase of 6.1% to 12.1% compared to 2023. Total written premiums are expected to range from RMB 24.5 billion to RMB 26.5 billion, representing an 8.4% to 17.3% growth over the previous year. Cheche reported a significant milestone of achieving profitability this quarter, with net income of RMB 4.1 million, a notable turnaround from a RMB 55.4 million loss in Q3 2023. Additionally, NEV gross premiums saw a 120% increase to USD 126 million year-over-year, with embedded policies rising 140% to 200,000. These metrics reflect Cheche's strategic focus on NEV insurance, partnerships with 14 NEV manufacturers, and expansion into new markets like Southeast Asia and the Middle East.Profitable Inflection Point
Cheche achieved profitability in Q3 2024, with net income turning positive for the first time, recording RMB 4.1 million or USD 0.6 million compared to a RMB 55.4 million loss in Q3 2023.
Strong Growth in NEV Sector
NEV gross premiums grew 120% year-over-year to USD 126 million, and the number of embedded policies sold increased by 140% year-over-year to 292,000 policies.
Partnership Expansion
Cheche signed an agreement with Tokio Marine's Chinese subsidiary, marking its first collaboration with a foreign insurer and expanding service capabilities.
Reduction in Expenses
Selling and marketing expenses dropped by 53.6% to RMB 18.1 million, and general and administrative expenses decreased by 41.4% to RMB 20.4 million year-over-year.
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CCG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CCG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 26, 2024 | $0.86 | $0.92 | +6.98% |
| Aug 29, 2024 | $0.81 | $0.82 | +1.23% |
| May 30, 2024 | $1.44 | $1.24 | -13.89% |
| Mar 28, 2024 | $3.85 | $3.68 | -4.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cheche Group (CCG) report earnings?
Cheche Group (CCG) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is Cheche Group (CCG) earnings time?
Cheche Group (CCG) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CCG EPS forecast?
CCG EPS forecast for the fiscal quarter 2024 (Q4) is -$0.02.
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