Cheche Group Announces Partnership with Great Wall Motor's Insurance Brokerage

BEIJING, Sept. 12, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it has entered into a partnership with Laoyou Insurance Brokerage Co., Ltd. ("Laoyou Insurance"), as Cheche continues to increase its collaborations with auto manufacturers in China.

Laoyou Insurance is a wholly controlled subsidiary of Great Wall Motor Company Limited ("GWM"), a top ten Chinese auto manufacturer that largely produces sport-utility vehicles and pick-up trucks with brands such as Haval, Wey, Tank, Poer, and Ora.

Cheche's insurance solutions and mature transaction system have been gradually rolled out in conjunction with GWM's newly established direct-sales network, operated by Great Wall Smart Selection Information Technology (Baoding) Co., LTD ("Smart Selection"), in more than 20 cities nationwide.

"Our new partnership with Laoyou Insurance, like our recently announced collaboration with BAIC Group's insurance provider, Beijing Anpeng, demonstrates Cheche's commitment to an evolving business model that readily engages major domestic automotive manufacturing groups," said Lei Zhang, Founder, CEO, and Chairman of Cheche. "This agreement highlights the success of our efforts to establish successful business partnerships with both new energy vehicle manufacturers and traditional automakers."

As GWM's Smart Selection direct-sales network continues to expand, Cheche's comprehensive insurance service offerings, such as contracts management services, insurance operation services and insurance products design, are growing accordingly. Cheche plans to develop a comprehensive insurance solution tailored for traditional automakers within one to two years.

Safe Harbor Statements

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About Cheche Group Inc.

Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en.

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SOURCE Cheche Group Inc.

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