Cheche Group Announces 35-for-1 Share Consolidation
Cheche Group Inc., a China-based auto insurance technology platform, has announced a 35-for-1 share consolidation. The move aims to regain compliance with Nasdaq's minimum bid price requirement.
Beijing-based Cheche Group Inc. announced it will implement a 35-for-1 share consolidation for its Class A and Class B ordinary shares. The company's shares are listed on Nasdaq under the ticker symbol CCG.
The consolidation, approved by shareholders on June 12, 2026, is expected to take effect at the market open on July 20, 2026. This is contingent upon Nasdaq's processing and the completion of administrative procedures. Following the consolidation, every 35 existing shares will be combined into one new share.
The company stated that the primary objective of this consolidation is to meet Nasdaq's minimum bid price requirement. The measure will affect all shareholders uniformly and will not alter individual percentage ownership, apart from potential adjustments due to the treatment of fractional shares.
Post-consolidation, Cheche Group is expected to have approximately 1.97 million Class A shares and 531,000 Class B shares outstanding. The terms of the company's warrants will also be adjusted accordingly.
Founded in 2014, Cheche Group operates as a technology platform for auto insurance in China, with a nationwide network.