The company's financial position shows increasing strain as total debt surged to $132.8 million, resulting in a debt-to-equity ratio of 0.39 as of 2025Q2.
| Total Current Assets | 1.16B | 1.18B | 780.25M | 600.85M | 752.56M |
| Cash & Short-Term Investments | 167.2M | 152.9M | 264.87M | 149.77M | 426.14M |
| Cash Only | 149.19M | 117.47M | 243.39M | 114.94M | 362.38M |
| Short-Term Investments | 18.01M | 35.42M | 21.47M | 34.82M | 63.76M |
| Accounts Receivable | 942.72M | 1B | 505.98M | 435.88M | 311.85M |
| Days Sales Outstanding | 104.28 | 105.6 | 55.94 | 59.39 | 65.59 |
| Inventory | 0 | 0 | 0 | 13.65M | 13.54M |
| Days Inventory Outstanding | - | - | - | 1.96 | 2.99 |
| Other Current Assets | 34.14M | 1.99M | 1.59M | -3.2M | -2.75M |
| Total Non-Current Assets | 129.37M | 107.11M | 113.72M | 111.65M | 116M |
| Property, Plant & Equipment | 9.23M | 7.02M | 11.92M | 16.89M | 19.14M |
| Fixed Asset Turnover | 347.58x | 494.68x | 277.06x | 158.58x | 90.67x |
| Goodwill | 84.61M | 84.61M | 84.61M | 84.61M | 84.61M |
| Intangible Assets | 4.9M | 5.95M | 8.05M | 10.15M | 12.25M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 30.62M | 9.53M | 9.15M | 0 | 0 |
| Total Assets | 1.28B | 1.29B | 893.98M | 712.5M | 868.56M |
| Asset Turnover | 2.57x | 2.70x | 3.69x | 3.76x | 2.00x |
| Asset Growth % | 117.03% | 44.07% | 25.47% | -17.97% | - |
| Total Current Liabilities | 883.42M | 878.27M | 501.53M | 344.03M | 347.62M |
| Accounts Payable | 683.97M | 725.82M | 316.87M | 227.16M | 180.3M |
| Days Payables Outstanding | 80.29 | 79.93 | 36.59 | 32.68 | 39.77 |
| Short-Term Debt | 71.9M | 30M | 20M | 0 | 10M |
| Deferred Revenue (Current) | 4.3M | 1.78M | 4.29M | 888K | 8.71M |
| Other Current Liabilities | 13.17M | 9.04M | 9.33M | 9.49M | 7.13M |
| Current Ratio | 1.31x | 1.34x | 1.56x | 1.75x | 2.16x |
| Quick Ratio | 1.31x | 1.34x | 1.56x | 1.71x | 2.13x |
| Cash Conversion Cycle | 23.98 | - | - | 28.66 | 28.8 |
| Total Non-Current Liabilities | 59.93M | 53.9M | 14.26M | 1.63B | 1.53B |
| Long-Term Debt | 53.32M | 0 | 0 | 0 | 10.51M |
| Capital Lease Obligations | 10.2M | 2.14M | 5.4M | 6.23M | 8.29M |
| Deferred Tax Liabilities | 3.11M | 1.49M | 2.01M | 2.54M | 3.06M |
| Other Non-Current Liabilities | 4.57M | 48.84M | 5.42M | 1.62B | 1.5B |
| Total Liabilities | 943.35M | 932.17M | 515.79M | 1.97B | 1.87B |
| Total Debt | 132.85M | 35.17M | 29.35M | 13.9M | 36.67M |
| Net Debt | -16.34M | -82.3M | -214.04M | -101.04M | -325.72M |
| Debt / Equity | 0.39x | 0.10x | 0.08x | - | - |
| Debt / EBITDA | -4.17x | - | - | - | - |
| Net Debt / EBITDA | 0.51x | - | - | - | - |
| Interest Coverage | -83.35x | -79.41x | -116.03x | -35.11x | -23.87x |
| Total Equity | 341.47M | 355.75M | 378.18M | -1.26B | -1.01B |
| Equity Growth % | -15.36% | -5.93% | 130% | -25.4% | - |
| Book Value per Share | 4.15 | 4.11 | 5.01 | -15.86 | -12.65 |
| Total Shareholders' Equity | 341.47M | 355.75M | 378.18M | -1.26B | -1.01B |
| Common Stock | 6K | 6K | 5K | 30K | 30K |
| Retained Earnings | -2.2B | -2.18B | -2.11B | -1.26B | -1B |
| Treasury Stock | -1.02M | -1.02M | -1.02M | -1.02M | -1.03M |
| Accumulated OCI | 4.33M | 6.09M | 1.15M | -66K | -7.8M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Regulatory commission rate compression
As reported in recent financial filings, Cheche Group's equity base has faced significant pressure, with retained earnings deepening to -$2.2 billion, signaling that the company's business model has yet to achieve the scale necessary to reverse long-term capital erosion and stabilize its overall financial trajectory.
The persistent accumulation of negative retained earnings suggests that the company's core intermediary operations are not generating sufficient value to offset historical losses. Investors should monitor whether the recent increase in total liabilities, which reached $943.4 million, indicates a structural reliance on external financing to sustain ongoing operations.
Based on the latest quarterly data, Cheche Group's total debt has surged from $23.2 million in 2024Q3 to $132.8 million in 2025Q2, pushing the debt-to-equity ratio to 0.39 and suggesting a shift toward debt-funded operations as the company attempts to navigate its current liquidity constraints.
While a 0.39 debt-to-equity ratio remains relatively modest, the rapid escalation in debt levels during a period of negative operating margins warrants caution. This trend may indicate that internal cash generation is insufficient to cover operational requirements, forcing the company to tap into credit markets to maintain its platform.
According to the provided balance sheet data, Cheche Group's current ratio has compressed to 1.31 as of 2025Q2, reflecting a narrowing buffer against short-term obligations that may limit the company's flexibility in responding to sudden regulatory shifts or volatility in the Chinese automotive insurance market.
The decline in cash reserves from a peak of $243.4 million in 2023Q4 to $149.2 million in the most recent quarter highlights a tightening liquidity position. This trend suggests that the company is consuming its cash runway at a pace that may necessitate further capital raises if operational break-even remains elusive.
As indicated by the company's balance sheet, goodwill remains stagnant at $84.6 million, representing a significant portion of total equity that may be subject to future impairment charges if the underlying business units fail to meet their projected growth targets in the competitive Chinese market.
Given the company's negative operating margins and the highly competitive nature of the insurance intermediary sector, the carrying value of these intangible assets appears vulnerable. Investors should consider the possibility that these assets may not be fully recoverable, which would further impair the company's already strained equity position.
Quick answers to the most common questions about buying CCG stock.
As of 2024, Cheche Group Inc. (CCG) had total assets of $1.29B including $1.18B in current assets.
Cheche Group Inc. (CCG) carries total debt of $35.2M, offset by $152.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cheche Group Inc. (CCG) has total shareholders' equity (book value) of $355.8M ($4.11 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cheche Group Inc. (CCG) reported a current ratio of 1.34x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.