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BEIJING - Cheche Group Inc. (NASDAQ:CCG), a Chinese auto insurance technology platform with a market capitalization of $67.42 million, announced Tuesday it received a notification letter from Nasdaq indicating non-compliance with the exchange’s minimum bid price requirement.
The notification, dated June 5, 2025, was issued after Cheche’s closing bid price for its Class A ordinary shares remained below $1.00 for 31 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Currently trading at $0.81, the stock has moved between $0.56 and $1.54 over the past 52 weeks. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
According to the company’s press release statement, the notification does not result in immediate delisting of Cheche’s securities. The company has been granted a compliance period of 180 calendar days, until December 2, 2025, to regain compliance with the minimum bid price requirement. InvestingPro subscribers have access to exclusive insights and detailed compliance history for listed companies, with multiple ProTips available regarding Nasdaq listing requirements.
Cheche can regain compliance if its closing bid price reaches at least $1.00 for a minimum of 10 consecutive business days during this period. If the company fails to meet this requirement by the deadline, it may be eligible for an additional 180-day compliance period if it meets other continued listing standards.
The company stated it will monitor its share price and is considering options to address the situation. Cheche emphasized it remains in compliance with all other Nasdaq continued listing standards and that the notification does not affect its business operations or SEC reporting requirements.
Cheche Group, established in 2014, operates a network of approximately 108 branches across 25 provinces, autonomous regions, and municipalities in China, providing digital insurance transaction services and insurance SaaS solutions. The company generated revenue of $475.84 million in the last twelve months, with a 5.2% growth rate. Get comprehensive analysis and detailed metrics with InvestingPro’s exclusive Research Report, part of our coverage of over 1,400 US-listed companies.
In other recent news, Cheche Group reported a strong performance for the fourth quarter of 2024, with total written premiums increasing by 15.6% to RMB 7.4 billion ($1 billion). The company’s net revenues for the quarter grew 13.4% year-over-year, reaching RMB 983.6 million ($134.8 million), while operating losses were significantly reduced by 93.7% to RMB 3 million ($400,000). Cheche Group anticipates a shift from operating loss to profitability in 2025, bolstered by its expansion into New Energy Vehicles (NEVs) and AI-driven solutions. In a strategic move to enhance its offerings, Cheche Group announced a new partnership with Jetour Auto, aiming to integrate digital insurance services with Jetour’s customer offerings. This collaboration will introduce a digital insurance transaction platform to streamline auto insurance processes for Jetour Auto’s customers. Additionally, Cheche Group has been recognized for its innovative AI-driven Tianwu Insurance Anti-Fraud and Risk Control model, which highlights the company’s focus on leveraging technology. Analysts have noted the company’s strong capital position and expect continued growth, particularly in the NEV sector.
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