Últimas noticias sobre Cheche Group (NASDAQ:CCG) Bolsa

Cheche Group

Campus Crest Communities, Inc.

NYSE

Cheche Group Inc is an insurtech company. It is China's independent technology-empowered platform for auto insurance transaction services by digital auto insurance transaction premiums and insurance technology companies. The company has reshaped the traditional auto insurance distribution and services value chain to create a digital platform by improving operational efficiencies, reducing transaction costs, and expanding distribution channels. Its business scope ranges from digital insurance transactions, SaaS platforms for insurance intermediaries, AI-driven insurance pricing and underwriting services, auto insurance services for new energy vehicle (NEV) manufacturers, green auto insurance innovations, etc.

Campus Crest Communities

Cheche Group Inc. - Class A Ordinary Shares

Cheche Group Inc

CHINA CINDA ASSET MGMT CO by China Cinda Asset Management Co Ltd

China Cinda Asset Management Co Ltd

CREDIT CORP GROUP LTD by Credit Corp Group Ltd.

Credit Corp Group Ltd

China CGame Inc

C&C Group PLC

CHINA CLEAN ENERGY INC by China Clean Energy, Inc.

China Clean Energy Inc

Business Outlook
Cheche is affirming&nbsp;its full-year 2024 outlook:
<ul>
<li>Net Revenues are expected to range from RMB3.5 billion to RMB3.7 billion, representing an increase of 6.1% to 12.1%, compared to the full year of 2023.</li>
<li>Total written premiums placed are expected to range from RMB24.5 billion to RMB26.5 billion, representing an increase of 8.4% to 17.3%, compared to the full year of 2023.</li>
</ul>

Earnings

News

Guidance

Cheche Reaffirms 2024 Net Revenues Expectation Of RMB3.5B-RMB3.7B; Total Written Premiums Placed Of RMB24.5B-RMB26.5B

Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) reported quarterly earnings of $0.00 per share. The company reported $121.200 million in sales this quarter. This is a 7.41 percent increase over sales of $112.838 million the same period last year.

Cheche Group Q3 2024 Adj. EPS $0.00, Sales $121.200M Up From $112.838M YoY

<h3>Companies Reporting Before The Bell</h3>
• Icecure Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCM#NASDAQ">ICCM</a>) is projected to report quarterly loss at $0.08 per share on revenue of $708 thousand. 
• Tsakos Energy Navigation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEN#NYSE">TEN</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $164.00 million. 
• Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) is expected to report quarterly loss at $0.29 per share on revenue of $194.49 million. 
• Best Buy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is projected to report quarterly earnings at $1.29 per share on revenue of $9.63 billion. 
• Kohl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $3.71 billion. 
• JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) is estimated to report quarterly earnings at $2.51 per share on revenue of $2.26 billion. 
• Dick's Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) is expected to report quarterly earnings at $2.69 per share on revenue of $3.03 billion. 
• Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) is projected to report quarterly earnings at $1.64 per share on revenue of $2.41 billion. 
• Titan Machinery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) is projected to report quarterly earnings at $0.05 per share on revenue of $675.30 million. 
• Embecta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) is projected to report quarterly earnings at $0.36 per share on revenue of $276.88 million. 
• Ucloudlink Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCL#NASDAQ">UCL</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $26.70 million. 
• Zhihu (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZH#NYSE">ZH</a>) is estimated to report earnings for its third quarter. 
• Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is expected to report quarterly loss at $0.01 per share on revenue of $4.72 billion. 
• Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) is estimated to report quarterly earnings at $1.55 per share on revenue of $2.56 billion. 
• H World Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) is estimated to report quarterly earnings at $0.69 per share on revenue of $933.86 million. 
• Cadeler (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDLR#NYSE">CDLR</a>) is likely to report earnings for its third quarter. 
• Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) is projected to report quarterly earnings at $2.22 per share on revenue of $1.18 billion. 
• American Woodmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>) is projected to report quarterly earnings at $2.37 per share on revenue of $458.29 million. 
• Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) is projected to report earnings for its third quarter. 
• MediWound (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) is projected to report quarterly loss at $0.44 per share on revenue of $6.01 million. 
<h3>Companies Reporting After The Bell</h3>
• JOYY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YY#NASDAQ">YY</a>) is expected to report quarterly earnings at $0.92 per share on revenue of $562.00 million. 
• Iris Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $54.75 million. 
• 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) is expected to report quarterly loss at $0.09 per share on revenue of $113.65 million. 
• Guess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>) is expected to report quarterly earnings at $0.37 per share on revenue of $747.44 million. 
• Pinstripes Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNST#NYSE">PNST</a>) is projected to report quarterly loss at $0.21 per share on revenue of $30.59 million. 
• Urban Outfitters (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) is likely to report quarterly earnings at $0.85 per share on revenue of $1.34 billion. 
• Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $3.35 billion. 
• CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is estimated to report quarterly earnings at $0.81 per share on revenue of $983.03 million. 
• Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) is estimated to report quarterly earnings at $2.06 per share on revenue of $24.72 billion. 
• Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) is likely to report quarterly earnings at $0.32 per share on revenue of $572.16 million. 
• Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) is expected to report quarterly loss at $0.92 per share on revenue of $58.91 million. 
• Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) is likely to report quarterly earnings at $2.12 per share on revenue of $1.56 billion. 
• Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) is projected to report quarterly earnings at $1.76 per share on revenue of $2.13 billion. 
• Ambarella (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $79.03 million. 
• Yxt.Com Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YXT#NASDAQ">YXT</a>) is likely to report earnings for its third quarter. 
• Noah Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) is estimated to report earnings for its third quarter. 
• PagerDuty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) is projected to report quarterly earnings at $0.17 per share on revenue of $116.39 million. 
• HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) is expected to report quarterly earnings at $0.93 per share on revenue of $14.00 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADSK

AMBA

AMWD

ARWR

BURL

CDLR

CRWD

DELL

EMBC

HTHT

ICCM

IREN

MANU

MDWD

NOAH

NTNX

PNST

TITN

URBN

WDAY

Earnings Scheduled For November 26, 2024

Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it received a notification letter dated November 15, 2024 (the "Notification Letter "), from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), indicating that the Company is no longer in compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules as the Company's closing bid price per Class A ordinary share, par value US$0.00001 per share, has been below US$1.00 for a period of 30 consecutive business days. The Notification Letter does not result in the immediate delisting of the Company's securities.
The Company would like to clarify that the Notification Letter has no current effect on the listing or trading of the Company's securities on Nasdaq. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until May 14, 2025&nbsp;(the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per Class A ordinary share&nbsp;is at least US$1.00 for&nbsp;a minimum&nbsp;of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

Cheche Group Announces Receipt Of Notification Letter From Nasdaq Regarding Minimum Price Deficiency

WIIM

Cheche Group shares are trading higher after Maxim Group initiated coverage on the stock with a Buy rating and announced a price target of $2.5.

Maxim Group initiates coverage on Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) with a Buy rating and announces Price Target of $2.5.

Price Target

Initiation

Analyst Ratings

Maxim Group Initiates Coverage On Cheche Group with Buy Rating, Announces Price Target of $2.5

Insider Trades

Cheche Group Announces CEO And Chairman, Lei Zhang, Purchase Class A Shares In The Open Market

Business Outlook
Cheche affirms its full year 2024 outlook, anticipating:
<ul>
<li>Net revenues&nbsp;to range from RMB3.5 billion to RMB3.7 billion, representing an increase of 6.1% to 12.1%, compared to the full year of 2023.</li>
<li>Total written premiums placed to range from RMB24.5 billion to RMB26.5 billion, representing an increase of 8.4% to 17.3%, compared to the full year of 2023.</li>
</ul>

Cheche Group Maintained FY24 Revenue Of RMB3.5B-RMB3.7B, Up By 6.1%-12.1% YoY

Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) reported quarterly losses of $(0.02) per share. The company reported $117.22 million in sales this quarter.

Cheche Group Q2 EPS $(0.02), Sales $117.22M

Cheche Group Expands Partnership With ARCFOX, Launches Full-Service Insurance Platform And Plans To Offer Ancillary Products Like GAP And Extended Warranty Insurance

Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares are <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39521532/cheche-group-announces-strategic-partnership-with-baic-groups-insurance-provider" rel="noreferrer noopener">trading higher on Thursday.</a>
The company inked a pact with Beijing Anpeng Insurance Broker Co., Ltd., as Cheche strengthens collaborations with new energy vehicle manufacturers in&nbsp;China.
Beijing Anpeng is a subsidiary of Beijing Automotive Group Co., Ltd. (BAIC Group) and handles explicitly the insurance business of BAIC Group&#8217;s car brands.&nbsp;
&#8220;In the future, the Company is going to attach great importance to insurance business opportunities with both traditional and NEV manufacturers,&#8221; said Lei Zhang, Founder, CEO, and Chairman of Cheche
The BAIC Group initiative is gaining momentum, as ARCFOX&#8217;s service system launches as a direct-sales channel.
Beijing Automotive aims to expand to 200 dealerships by year-end, while Beijing Hyundai plans to cover 100 dealerships with its service system by then.
On June 20, the company announced a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39414366/cheche-group-rides-high-with-nio-partnership-eyes-expansion-details" rel="noreferrer noopener">partnership with NIO Insurance Broker</a>, a unit of NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>).
In the first quarter reported last month, Cheche said its partnerships with New Energy Vehicle&nbsp;companies led to 119,000 policies embedded in new New Energy Vehicle deliveries and corresponding written premium of&nbsp;RMB370.3 million&nbsp;with&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n39081987/cheche-group-reports-first-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">11 partnerships with NEV manufacturers.</a>&nbsp;
This represented an increase of 124.5% and 78.5% compared to the prior-year quarter, respectively.
Price Action: CCG shares are trading higher by 3.23% to $0.7928 at last check Thursday.
Photo via Shutterstock

Equities

Markets

Movers

General

What's Going On With Cheche Group Shares Today?

Cheche Group Form Strategic Partnership With BAIC Group's Insurance Provider

Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares are trading higher after the company announced a partnership with NIO Insurance Broker, a unit of NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), as Cheche continues to&nbsp;deepen&nbsp;its collaborations with new energy vehicle (NEV)&nbsp;manufacturers.
Under the deal, Cheche&#8217;s advanced digital platform aims to streamline NIO&#8217;s auto insurance process, lower front-end delivery costs, and enhance <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39408433/cheche-group-announces-partnership-with-nio-insurance-broker" rel="noreferrer noopener">digital management of their insurance operations</a>.
NIO&#8217;s tailored digital insurance service system is slated for launch next quarter.
&#8220;The global NEV industry continues to experience substantial growth led by the Chinese NEV manufacturers,&#8221; said Lei Zhang, Founder, CEO, and Chairman of Cheche.
In the first quarter reported last month, Cheche said its partnerships with New Energy Vehicle&nbsp;companies led to 119,000 policies embedded in new New Energy Vehicle deliveries and corresponding written premium of&nbsp;RMB370.3 million&nbsp;with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n39081987/cheche-group-reports-first-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">11 partnerships with NEV manufacturers.</a> This represented an increase of 124.5% and 78.5% compared to the prior-year quarter, respectively.
The latest announcement signifies Cheche&#8217;s New Energy Vehicle insurance business&#8217;s significant advancement.
Cheche plans to expand further by securing agreements with additional NEV companies by leveraging strong partnerships with leading Chinese New Energy Vehicle manufacturers.
This expansion will cover new policy issuance, insurance renewals, contract management, claims handling, and risk assessment.
&#8220;As a trusted service provider for&nbsp;NEV insurance services, we are committed to creating value for NIO and our other partners throughout the product lifecycle and will strive to retain our standing as the leading intelligent insurance platform for NEVs in&nbsp;China,&#8221; Zhang added.
Price Action: CCG shares are trading higher by 7.7% to $0.7960 at last check Thursday.
Photo via Shutterstock

Contracts

Cheche Group Rides High With NIO Partnership, Eyes Expansion: Details

Cheche Group shares are trading higher after the company announced a aprtnership with NIO Insurance Broker.

Cheche Group Partners With NIO Insurance; Terms Not Disclosed

<h4>Key Takeaways:</h4>
<ul>
<li>Cheche&rsquo;s net revenue rose 1% year-on-year in the first quarter, lagging growth rates for the value and number of transactions on its platform</li>
<li>The results indicate both insurance underwriters and Cheche are facing pricing pressure from growing competition in a sluggish auto market</li>
</ul>
By Warren Yang
China car sales that remain stuck in the slow lane are putting the brakes on revenue growth at&nbsp;Cheche Technology Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ccg#NASDAQ">CCG</a>). The country&rsquo;s recent proliferation of green vehicles provided one of the few sparks in the Tencent-backed online auto insurance company&rsquo;s&nbsp;<a href="https://www.prnewswire.com/news-releases/cheche-group-reports-first-quarter-2024-unaudited-financial-results-302159309.html">latest results</a>&nbsp;announced last week. But a broader sluggish car market, combined with intensifying competition, are likely to make Cheche&rsquo;s road to profitability an uphill climb.
Cheche reported its net revenue increased a mere 1% year-on-year to 787 million yuan ($109 million) in the first quarter. The revenue gain was markedly slower than improvements in the company&rsquo;s other performance metrics, as well as car sales growth in China during the three months, according to its second earnings report as a listed company.
The total amount of written premiums for insurance policies distributed through Cheche&rsquo;s platform increased 9.2% in the first quarter from a year earlier, while the number of transactions rose more than 20%.
The discrepancy between those growth rates indicates that both insurance underwriters and Cheche itself are facing pricing pressure, most likely due to stiff competition for business in China&rsquo;s sluggish car market. Cheche&rsquo;s underwriter partners may be cutting their policy prices to drive up sales in the competitive space. As that happens Cheche may be feeling pressure to lower its fees to support those partners, resulting in its nearly flat revenue growth despite the big increase in transactions on its platform.
Demand for new auto insurance is closely tied to vehicle sales. And the car market in China is sputtering as a slowing economy leads to intensifying competition among not only car makers and dealers, but also providers of related services like insurance.
During the first three months of this year, overall growth in vehicle sales in China grew an underwhelming 10.6% year-on-year.
Like many other players in China&rsquo;s auto ecosystem, Cheche is getting a critical boost from the country&rsquo;s new electric-vehicle (NEV) boom. The company started directly partnering with NEV makers back in 2022 in hopes of selling insurance to their customers. As part of the collaborations, Cheche embeds its platform in the carmakers&rsquo; operating systems to provide vehicle owners with easy access to a full suite of insurance functions, including renewals and claim submissions, as well as auxiliary services like repairs.
<h3>NEV Partnerships</h3>
In March, Cheche signed an agreement with an affiliate of&nbsp;Xiaomi&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/xiacf#OTC">XIACF</a>) to provide an auto insurance software-as-a service (SaaS) system for the smartphone maker, which launched its first electric vehicle to much fanfare that same month. Cheche will also offer services for Xiaomi car owners in various cities across China, including Beijing and Shenzhen.
Then last month, Cheche struck a partnership with Volkswagen&rsquo;s China venture to become the exclusive NEV insurance service provider for the German automaker, which has some ambitious plans to catch up with local rivals in China&rsquo;s battery-powered car market.
At the end of March, Cheche had partnerships with 11 NEV companies, which yielded 370 million yuan of written premiums in the first quarter, accounting for nearly 7% of the total for the period.
&ldquo;The rapid growth of the NEV market has created new opportunities for auto insurance offerings and propelled revenue growth of auto insurance providers,&rdquo; Cheche said in its earnings statement. &ldquo;Cheche believes that the further growth of the NEV market and the introduction of innovative NEV auto insurance solutions will further fuel the revenue contribution of its partnership with NEV manufacturers.&rdquo;
Cheche may be able to facilitate more insurance transactions through its growing tie-ups with NEV manufacturers, which may help to drive up its business volume growth. But growing revenue and improving margins may be more difficult, as the company&rsquo;s first-quarter results show.
Various factors can stop Cheche from increasing or simply sustaining the fees it charges its partners, which are one of its main income sources. Competition among those partners is one such factor, particularly after regulators started allowing insurers to set rates freely in 2015, making pricing a key differentiator among policies. As an insurance broker and not an actual policy underwriter, Cheche doesn&rsquo;t directly get squeezed by such competition. But it comes under pressure to lower its fees as its underwriting partners get squeezed.
On the expenditure side, Cheche also pays fees to its referral partners and other third parties, wiping out most of its revenue. Because of this, its gross profit margin was just about 4.3% in the first quarter, a bad figure for any business, never mind an online service provider that is typically expected to boast much higher margins.
The company&rsquo;s overall operating expenses vastly outweigh its gross profit, which means it&rsquo;s deeply in the red. It reported its adjusted net loss widened to 12.2 million yuan in the first quarter from a 7.8 million yuan loss a year earlier, partly due to post-listing fees related to its recent listing.
Cheche expects its revenue to increase 6% to 12% this year. That may look modest, but it&rsquo;s not so bad when considering that the China Association of Automobile Manufacturers expects domestic sales of passenger cars to increase just 3% this year. NEV sales will grow far faster than the overall market, at a projected pace of more than 20%, meaning Cheche&rsquo;s ability to drive deeper into that section of the market may determine whether it can hit its revenue target.
Cheche shares slid after its latest earnings disclosure, and have now lost almost 95% of their value since the company went public last September through a backdoor listing involving a merger with special purpose acquisition company (SPAC). They now trade at a depressed price-to-sales (P/S) ratio of just 0.17. Among comparable companies, the ratio for online car loan facilitator&nbsp;Yixin Group Ltd.&nbsp;(2858.HK) is higher but still not extremely impressive at 0.6, suggesting a lack of investor enthusiasm about businesses tied to China&rsquo;s auto market.
As things stand now, Cheche seems to be facing a bumpy road ahead as it seeks to win back investor interest.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Penny Stocks

XIACF

Weak China Car Market Puts Brakes On Cheche's Growth

Shares of Pure Storage, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) rose sharply in today's pre-market trading following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/05/39075223/pure-storage-stock-climbs-after-better-than-expected-q1-results">first-quarter financial results.</a>
Pure Storage reported quarterly earnings of 32 cents per share, which beat the analyst consensus estimate of 21 cents. Quarterly sales clocked in at $693.479 million, beating the analyst consensus estimate of $680.972 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Pure Storage shares jumped 10.5% to $69.60 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) rose 60.5% to $6.27 in today's pre-market trading after gaining around 17% on Wednesday. Smart For Life completed restructuring program, enhancing financial stability.</li>
<li>Cue Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) shares gained 56.7% to $0.0860 in pre-market trading. Cue Health shares dipped around 40% on Wednesday after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.</li>
<li>Verb Technology Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>) gained 31.1% to $0.2114 in pre-market trading after gaining 15% on Wednesday.</li>
<li>OneMedNet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONMD#NASDAQ">ONMD</a>) gained 28.7% to $2.51 in pre-market trading after the company announced that it has entered into a non-exclusive three-year Master Services Agreement with an undisclosed U.S.-based medical technology company.</li>
<li>Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares rose 26.4% to $1.82 in pre-market trading after gaining 8% on Wednesday. Cheche Group is expected to host a conference call to discuss first quarter 2024 results on Thursday, May 30.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) shares gained 20.6% to $0.3280 in pre-market trading after jumping around 45% on Wednesday.  </li>
<li>Nexalin Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXL#NASDAQ">NXL</a>) shares climbed 20.2% to $0.7997 in pre-market trading after dipping 29% on Wednesday.</li>
<li>C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) gained 11.2% to $26.60 in pre-market trading following strong fourth-quarter earnings</li>
<li>American Superconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMSC#NASDAQ">AMSC</a>) shares gained 7.7% to $17.00 in pre-market trading following strong quarterly earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>NovaBay Pharmaceuticals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBY#NYSE">NBY</a>) shares declined 42.4% to $0.0940 in pre-market trading. NovaBay Pharmaceuticals announced plans for a 1-for-35 reverse stock split and revealed the receipt of NYSE American notice regarding stockholders&#8217; equity.</li>
<li>UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) shares declined 29.5% to $12.91 in pre-market trading after the company reported first-quarter earnings and announced a CEO transition.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) shares dipped 24.2% to $0.7198 in pre-market trading. Innovative Eyewear reported closing of $2.5 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares fell 21.5% to $0.2309 in pre-market trading after jumping 80% on Wednesday.</li>
<li>Sonoma Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNOA#NASDAQ">SNOA</a>) shares fell 19.1% to $0.2104 in pre-market trading after gaining over 28% on Wednesday.</li>
<li>Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares fell 15.6% to $228.55 in pre-market trading. Salesforce reported upbeat earnings for the first quarter, while sales missed estimates. The company issued weak guidance for the second quarter.</li>
<li>Monogram Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGRM#NASDAQ">MGRM</a>) shares fell 12.5% to $1.77 in pre-market trading.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares fell 12.2% to $2.32 in pre-market trading. BEN shares surged around 108% on Wednesday after the company announced a $4.95 million private placement and appointed Paul Chang to Co-CEO.</li>
<li>Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) shares declined 10.8% to $0.4044 in pre-market trading after falling 12% on Wednesday. In a recent exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers.</li>
<li>Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) fell 10.2% to $65.80 in pre-market trading after reporting quarterly earnings.</li>
</ul>
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Why Pure Storage Shares Are Trading Higher By Over 10%; Here Are 20 Stocks Moving Premarket

Cheche Group shares are trading higher following Q1 earnings.

Business&nbsp;Outlook
For the full year of 2024, Cheche expects:
<ul>
<li>Net revenues&nbsp;to range from&nbsp;RMB3.5 billion&nbsp;to&nbsp;RMB3.7 billion, representing an increase of&nbsp;6.1%&nbsp;to&nbsp;12.1%, compared to the full year of 2023.</li>
<li>Total written premiums placed to range from&nbsp;RMB24.5 billion&nbsp;to&nbsp;RMB26.5 billion, representing an increase of&nbsp;8.4%&nbsp;to&nbsp;17.3%, compared to the full year of 2023.</li>
</ul>

Cheche Group Expects 2024 Net Revenues Of RMB3.5B-RMB3.7B, YoY Increase Of 6.1%-12.1%; Total Written Premiums Placed Of RMB24.5B-RMB26.5B, YoY Increase Of 8.4%-17.3%

Cheche Group Q1 Adj. EPS $(0.02), Sales $109.02M

Cheche Group (CCG) has released an update. Lei Zhang, CEO of China's prominent auto insurance tech company Cheche Group, has increased his stake in...

Cheche Group CEO Invests in Company's Growth

Cheche Group (CCG) has released an update. Cheche Group Inc., a leader in China's auto insurance technology, has announced a strategic partnership ...

Cheche Group Forges Strategic Insurance Partnership

Warning: CCG is at high risk of performing badly

Intel's results were better than feared. Wall Street says it's not out of the woods yet.

Cheche Group receives notification letter from Nasdaq

Cheche Group announced that it received a notification letter dated November 15, from the Listing Qualifications Department of The Nasdaq Stock Mar...

Cheche Technology receives Nasdaq notice of non-compliance

Cheche Group (CCG) has released an update. Cheche Group Inc., a prominent auto insurance technology platform in China, has received a notification ...

Cheche Group Faces Nasdaq Compliance Challenge

Cheche Group Non-GAAP EPS of $0.00 beats by $0.03, revenue of $121.2M misses by $0.79M

Cheche Group Inc. Class A ( ($CCG) ) has released its Q3 earnings. Here is a breakdown of the information Cheche Group Inc. Class A presented to it...

Cheche Group Reports First-Time Profitability in Q3 2024

Maxim Group analyst Allen Klee maintained a Buy rating on Cheche Group (CCG – Research Report) yesterday. The company's shares closed yesterday at ...

Maxim Group Sticks to Its Buy Rating for Cheche Group (CCG)

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Cheche Group Schedules Second Quarter 2024 Earnings Release and Conference Call Date

Cheche Group Reports Second Quarter 2024 Unaudited Financial Results

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Cheche Group Announces Strategic Partnership with The Tokio Marine & Nichido Fire Insurance Company (China) Limited

Cheche Group Schedules Third Quarter 2024 Earnings Release and Conference Call Date

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Cheche Group Announces Receipt of Notification Letter from Nasdaq

/C O R R E C T I O N -- Cheche Group Inc./

Cheche Group Reports Third Quarter 2024 Unaudited Financial Results

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