Cheche Group Announces 35-for-1 Share Consolidation

Cheche Group Inc. (NASDAQ: CCG ) ("Cheche" or the "Company"), China's leading auto insurance technology platform, announced that it will effect a 35-for-1 share consolidation of its Class A ordinary shares and Class B ordinary shares (the "Share Consolidation"). The Share Consolidation was approved by the Company's shareholders at the extraordinary general meeting duly convened and held on June 12, 2026, Beijing time (June 11, 2026, U.S. Eastern time). Pursuant to the shareholders' approval and the authority granted thereunder, the Company has determined that the Share Consolidation is expected to become effective as of the opening of business on July 20, 2026, U.S. Eastern time, subject to Nasdaq's processing and the completion of the remaining administrative procedures. Beginning with the opening of trading on July 20,2026, U.S. Eastern time, subject to Nasdaq's processing and completion of the remaining administrative procedures, the Company's Class A ordinary shares are expected to trade on a post-Share Consolidation basis on Nasdaq under the existing trading symbol "CCG" and under the new CUSIP/CINS number G20707124 and new ISIN KYG207071245. At the effective time of the Share Consolidation, every thirty-five (35) issued and outstanding Class A ordinary shares of par value US$0.00001 each will be consolidated into one (1) Class A ordinary share of par value US$0.00035 each. Every thirty-five (35) issued and outstanding Class B ordinary shares of par value US$0.00001 each will also be consolidated into one (1) Class B ordinary share of par value US$0.00035 each. Immediately prior to the effective time of the Share Consolidation, the Company has 69,093,430 Class A ordinary shares and 18,596,504 Class B ordinary shares outstanding. Immediately following the effective time of the Share Consolidation, the Company is expected to have 1,974,098 Class A ordinary shares and 531,328 Class B ordinary shares outstanding. No fractional shares will be issued in connection with the Share Consolidation. Any fractional share entitlements resulting from the Share Consolidation will be rounded to the nearest whole share. As a result of such rounding, the number of issued and outstanding shares after the Share Consolidation may differ slightly from the number that would result from a strict application of the 35-for-1 ratio. The Company's warrants are expected to continue trading on Nasdaq under the existing trading symbol "CCGWW". In connection with the Share Consolidation, proportionate adjustments will be made to the Company's outstanding warrants in accordance with the terms of the warrant agreement. As a result, the number of Class A ordinary shares issuable upon exercise of the warrants and the applicable exercise price will be proportionately adjusted to reflect the 35-for-1 Share Consolidation. The Share Consolidation is intended to enable the Company to regain compliance with Nasdaq's minimum bid price requirement. The Share Consolidation will affect all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's equity, except for adjustments that may result from the treatment of fractional shares entitlements.