Cheche Group Inc.

Recent Developments

On September 9, 2026, we entered into a non-binding term sheet in connection with a proposed strategic investment in Long Way Fortune (“Target”), a residential solar-plus-storage business with operations currently in Australia and Singapore. The term sheet contemplates an initial 20% minority investment in the Target with the potential for us to increase our ownership interest in the Target to up to 51% over time, subject to agreed conditions and performance milestones. The transaction will be a stock-for-stock investment in the Target at an overall implied equity value of US$490 million, with our consideration being stock-linked and subject to a delayed schedule of release over the next few years. The term sheet is non-binding and does not obligate us to consummate the proposed investment.

On September 1, 2026, we announced the launch of the ABAO Agent Family, a suite of five specialized AI agents built on our proprietary vertical insurance large language model, which marks our strategic evolution from a digital insurance transaction platform into an AI-driven insurance infrastructure provider.

On June 24, 2026, we announced the launch of “Cheche Score,” a proprietary AI-powered dynamic pricing solution for new energy vehicle (“NEV”) insurance, which establishes a data-driven, differentiated pricing model purpose-built for the era of intelligent driving and represents a significant step forward in our strategy to redefine risk management across China’s fast-growing NEV insurance market.

On June 22, 2026, we announced the official launch of “ABAO Agent,” an AI-powered intelligent underwriting agent. Built on our proprietary, large language model and deeply integrated with core insurance workflows, ABAO Agent delivers end-to-end intelligent automation across underwriting and policy renewal, which marks a pivotal step in our strategic evolution from a digital insurance transaction platform to a AI-driven insurtech company.

On May 28, 2026, we announced the official launch of our proprietary, AI large model-driven intelligent connected vehicle pricing product. Targeting China’s expanding market of approximately 20 million intelligent connected NEVs, the product utilizes advanced machine learning and multi-dimensional data analytics. By analyzing real-time driving behavior, usage patterns, and localized risk scenarios, the technology delivers precise, personalized insurance pricing tailored to individual drivers.