Cheche Group

CCG

Internet Content & Information · Communication Services

Price

$16.13

+0.18 (+1.13%)

Market Cap

$38.1M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+3.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.3M (2021) → 2.4M (2025)

Winston Score History

The full picture

Cheche Group is a Chinese technology company that runs an online platform for buying car insurance. Drivers in China can compare quotes from different insurance companies and purchase policies directly through Cheche's platform. The company acts as a digital middleman between insurance providers and customers, similar to how sites like Compare the Market work in other countries.

Cheche makes money by earning a commission or fee each time a customer buys an insurance policy through its platform. The company operates almost entirely in China, where car ownership has grown rapidly over the past two decades. Its gross margin of around 5% is thin, which reflects how competitive the online insurance distribution market is in China. The main risk the business faces is that large insurers or well-funded tech giants like Alibaba or Tencent could build similar tools and cut out smaller platforms like Cheche entirely.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-15.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+133.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥37M/ year

→ Flat (-2% vs prior year)

1.2% of revenue

Below sector average (12%)

Steady R&D investment year-over-year

Insider Activity

61.7%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~3 years

¥171M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

¥171M cash & investments at current burn rate

Revenue declining

Cheche Group's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

6.0%

Thin — 6.0% gross margin

Profit after running costs

Operating Margin

0.4%

Thin — 0.4% operating margin

Return on the money invested

ROCE

-4.6%

Weak — -4.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-13.3%

Shrinking sales (-13.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-1.3%

Burning cash (-1.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.27

Conservative — low debt load (0.27)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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