CHECHE

BEIJING, China – February 28, 2024 – Cheche Group Inc. (NASDAQ: CCG) (“Cheche,” “the Company,” or “we”), China’s leading auto insurance technology platform, hosted a digital development seminar for financial institutions and insurance companies on February 27^th.

The rise of new energy vehicles (“NEVs”) has ushered in an era of opportunity for the industry. The seminar provided thought leaders an opportunity to share their experiences in digitalization and technological achievements, including innovative product design and the optimization of risk assessment models, as well as prognosticate about the future.

Participants consisted of leaders from the realms of finance, insurance, and the government, including Tian Junli, deputy mayor of Xicheng District, Beijing; Chief Representative Koike Itoku from the Bank of Japan’s China office; Sueyoshi Kensuke from Tokio Marine & Nichido Fire Insurance Co., Ltd. in Beijing; Zhou Cheng and Li Wenbo from the CITIC Financial Assets Company, among others.

Tian Junli, deputy mayor of the Xicheng District, Beijing, shared that, "The Xicheng District is committed to building a fintech innovation zone. Recent science and technology policies introduced in the district are attracting financial technology companies by rewarding innovation with service guarantees and policy support.”

The seminar aimed to promote multi-party cooperation and explore innovation opportunities and challenges in the insurance industry. Itoku Koike, Chief Representative of the Bank of Japan’s Representative Office in China, said, "The Japanese culture is relatively conservative. In contrast, China has maintained a leading position in innovative applications of science and technology in recent years. We should learn from the experience of Chinese companies from both economic perspectives and promote the reform and upgrade of Japan’s financial industry.”

Highlighting trends in China’s insurance industry, Lei Zhang, Founder, Co-Chief Executive Officer, and Chairman of Cheche, said, “As connected cars become more prevalent, the real-time exchange of vehicle-machine data will continue to drive revolutionary change in the insurance industry. In the future, vehicles will be regarded as large-scale intelligent terminals, providing subscription services, autonomous driving, auto insurance and value-added services. Comprehensive packages will become an important starting point for car companies to obtain long-term value. ”

“Dramatic changes in the auto insurance industry, such as the transfer of vehicle driving responsibilities, the innovation of auto insurance products, the digitization of channels, and traffic portals are ushering in the industry’s ‘Nokia moment.’ Changes in the traditional auto insurance business model in terms of management and user lifecycle operations have provided new growth opportunities to the insurance industry. We look forward to working with a wide range of partners to jointly explore new business models and develop new insurance products to meet market demand and jointly promote the digital and intelligent development of the insurance industry," he concluded.

The seminar not only discussed feasible strategies for the development of the NEV insurance business, but it also offered a broader perspective on the development of the insurance industry.

Kensuke Sueyoshi, the chief representative of the Beijing Representative Office of Tokio Marine & Nichido Fire Insurance Co., Ltd., said, "Auto insurance premiums account for about half of the total premium income of the Shanghai department of Tokio Marine, mainly through reinsurance business in cooperation with large Chinese insurance companies and agreements with Japanese car companies to carry out direct insurance business. These agreements provide Tokyo Marine a path to building its auto insurance business in China. Propelled by the rapid development of China's NEVs, China's auto insurance industry is undergoing a digital transformation, and we hope that the resulting reform and innovation can be leveraged to promote international cooperation."

Since its inception in 2014, Cheche has been committed to implementing technology innovation-driven strategies and accelerating the digital service capabilities of the insurance industry. Cheche’s products consist of an online insurance trading platform, a new energy automobile insurance service platform, an insurance intermediary SaaS system, AI-intelligent pricing, and an anti-fraud auxiliary system model, among other offerings. Cheche shareholder and Prime Impact CEO Mark Long expressed his trust and expectations for the Company in his speech and noted that he believes Cheche has performed well and anticipates that its digital capabilities, long-term development potential, and quality management team will translate to great success in the future.

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 110 branches licensed to distribute insurance policies across 30 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.

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 projections, estimations, 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 be materially different 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.

Cheche Group Inc.:

IR@chechegroup.com

Crocker Coulson

crocker.coulson@aummedia.org

(646) 652-718