Cheche Group Announces Receipt of Notification Letter from Nasdaq

Rhea-AI Summary

Cheche Group (NASDAQ: CCG), China's leading auto insurance technology platform, received a notification from Nasdaq on June 5, 2025, regarding non-compliance with the minimum bid price requirement. The company's Class A ordinary shares have traded below $1.00 for 31 consecutive business days. Cheche has until December 2, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day compliance period. The notification does not affect current listing status, business operations, SEC reporting requirements, or other Nasdaq listing standards compliance.

Positive

• Company remains compliant with all other Nasdaq listing standards
• Potential eligibility for additional 180-day compliance period if initial deadline is not met
• Current business operations and SEC reporting requirements remain unaffected

Negative

• Stock price has remained below $1.00 for 31 consecutive business days
• Risk of potential delisting if compliance is not achieved by December 2, 2025
• Company needs to implement measures to boost stock price above $1.00

Insights

Capital Markets Compliance Specialist

Cheche Group's Nasdaq non-compliance notice threatens listing status if share price remains below $1; company has until December to remedy.

Cheche Group has received a Nasdaq deficiency notice for failing to maintain the minimum bid price requirement of $1.00 per share for 31 consecutive business days. This triggers a standard compliance process that gives the company a 180-day grace period until December 2, 2025 to regain compliance. To resolve this issue, Cheche's stock needs to close at or above $1.00 for at least 10 consecutive business days during this period.

This notification represents a preliminary warning rather than an immediate delisting action. Importantly, Cheche remains in compliance with all other Nasdaq listing standards, and the notification doesn't affect their operations or SEC reporting obligations. If the company fails to meet requirements by December, they may qualify for an additional 180-day extension if they satisfy other listing criteria and formally notify Nasdaq of their intent to address the issue.

While the company hasn't disclosed specific remediation plans, typical options include a reverse stock split (reducing share count to increase per-share value), business initiatives to improve investor sentiment, or transactions that might increase share value. The situation merits close monitoring as sustained non-compliance could eventually lead to delisting, which would significantly impact liquidity and institutional investment accessibility for Cheche's securities.

BEIJING, June 10, 2025 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it received a notification letter, dated June 5, 2025 (the "Notification Letter "), from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), indicating that the Company is no longer in compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules as the Company's closing bid price per Class A ordinary share, par value US$0.00001 per share, has been below US$1.00 for a period of 31 consecutive business days. The Notification Letter does not result in the immediate delisting of the Company's securities.

The Company would like to clarify that the Notification Letter has no current effect on the listing or trading of the Company's securities on Nasdaq. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until December 2, 2025 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per Class A ordinary share is at least US$1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event that the Company does not regain compliance by December 2, 2025, subject to the determination by the staff of Nasdaq, it may be eligible for an additional 180 calendar days compliance period if it meets the continued listing requirements for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement of the Nasdaq, and provides written notice to Nasdaq of its intention to cure for the minimum bid price requirement.

The Company intends to monitor the closing bid price of its Class A ordinary shares between now and December 2, 2025, and is considering its options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Company is currently in compliance with all other Nasdaq continued listing standards. The Notification Letter does not affect the Company's business operations, its U.S. Securities and Exchange Commission reporting requirements or contractual obligations.

Safe Harbor Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding existing and new partnerships and customer relationships, projections, estimation, and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company's ability to scale and grow its business, the Company's advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company's management and are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.

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.

Cheche Group Inc.:

IR@chechegroup.com

Crocker Coulson
crocker.coulson@aummedia.org
(646) 652-7185

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SOURCE Cheche Group Inc.

FAQ

What is the deadline for Cheche Group (CCG) to regain Nasdaq compliance?

Cheche Group has until December 2, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

Why did Cheche Group (CCG) receive a Nasdaq notification letter?

Cheche Group received the notification because its stock price traded below $1.00 for 31 consecutive business days, violating Nasdaq's minimum bid price requirement.

What happens if Cheche Group (CCG) fails to meet the December 2025 deadline?

If Cheche fails to meet the deadline, it may be eligible for an additional 180-day compliance period if it meets other continued listing requirements and provides written notice to Nasdaq.

Does the Nasdaq notification affect Cheche Group's (CCG) current listing status?

No, the notification does not affect Cheche Group's current listing status, business operations, or SEC reporting requirements.

What options does Cheche Group (CCG) have to regain compliance?

Cheche Group needs to maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days before December 2, 2025, to regain compliance.