Compliance can be achieved if the share price reaches at least $1.00 for ten consecutive business days within this timeframe. Credit: Bigc Studio / Shutterstock.

Chinese auto insurance technology company Cheche Group has secured notification from the Nasdaq Stock Market over a non-compliance issue regarding its share price.

The company’s closing bid price per Class A ordinary share has been under $1.00 for 30 consecutive business days, triggering a notice from Nasdaq’s Listing Qualifications Department.

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The notification, dated 15 November 2024, does not imply an immediate delisting of Cheche Group’s securities.

Instead, the company has been granted 180 days, ending on 14 May 2025, to meet the minimum bid price requirement.

Compliance can be achieved if the share price reaches at least $1.00 for ten consecutive business days within this timeframe.

If Cheche Group fails to comply by 14 May 2025, it may be granted another 180 days to meet the requirement, provided it fulfils other listing standards and notifies Nasdaq of its plans to address the bid price issue.

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The company has affirmed its commitment to monitoring its share price and is exploring options to regain compliance with Nasdaq’s Listing Rules.

It has clarified that its business operations, SEC reporting obligations, and contractual commitments remain unaffected by the current situation.

Cheche Group, along with its Class A ordinary shares and warrants, began trading on the Nasdaq Stock Market on 18 September 2023 under the ticker symbols “CCG” and “CCGWW,” respectively.

Founded in 2014 and based in Beijing, Cheche Group has approximately 108 branches.

The company is licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities throughout China.