Cheche Group Approves 35-for-1 Share Consolidation

Shareholders of Beijing-based auto insurance platform Cheche Group Inc. have voted to approve a significant share consolidation. The decision, reached during an extraordinary general meeting held Wednesday, will combine every 35 existing class A and class B ordinary shares into single units with a higher par value.

The resolution mandates a restructuring of the company’s capital, shifting the par value of shares from US$0.00001 to US$0.00035. Alongside the consolidation, investors backed an amendment to the company’s memorandum and articles of association to reflect these changes. The meeting took place at the firm’s headquarters at the Desheng Hopson Fortune Plaza in Beijing.

Management will determine the specific effective date for the consolidation. Founded in 2014, Cheche Group currently operates a network of approximately 108 branches across 25 Chinese provinces and municipalities, providing digital insurance transaction services and SaaS solutions.