Cheche Group Inc.

Good morning and welcome to CHCHR's second quarter 2024 conference call. All participants will be in listen-only mode. If you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note today's conference is being recorded. I will now turn the conference over to Crocker Coulson, Investor Relations for the Cheche Group. Mr. Coulson, the floor is yours.

Thanks a lot, Operator. Good morning, everyone. Thank you for joining us to review Cheche's 2024 second quarter results. This morning, Cheche posted the earnings release and related investor presentation to its website, which you can find at ir.chechegroup.com. With us on the call today are Lei Chang, Checha's Founder and Chief Executive Officer, and Sandra Gee, Checha's Chief Financial Officer. After the prepared remarks this morning are concluded, we're going to open up the call to your questions. But before we begin, some statements in this teleconference are forward-looking within the meaning of the federal securities laws. Although management believes these statements are reasonable, we can provide no assurance that they will prove to be accurate because they are perspective in nature. Actual results could differ materially from those we discussed today. We encourage you to review the most recent filings with the SEC for risk factors that could materially impact our results. As I mentioned, the earnings release is available on ir.chechergroup.com, and we encourage you to review the reconciliations of certain non-GAAP measures contained within. With that, it's my pleasure to turn the call over to Lei Zhang, Chief Executive Officer. Lei, please go ahead.

Thank you, Clark. Greetings, everyone. We are glad you have joined us. Our platform has continued to grow, with Churchill providing costs for about 49 million workers, blessing over $8 billion in written premiums, and collaborating with about 100 insurance carriers between 2021 and the second quarter of this year. We remain China's largest auto insurance technology platform by digital auto insurance transaction premiums and active driver in the ongoing digital transformation. Globally, the NEV industry continues to experience substantial growth lead by the Chinese NEV manufacturers. As NEV adoption rates in China climb, seeing the second-highest sales on the record in this quarter alone. we have maintained our leadership role as a provider of customized system and embedded insurance products. Today, positioned on the cusp of profitability in this arena, we continue to push forward, working strategic partnership and leveraging our innovative solutions to further create opportunities. We kicked off the quarter with the previously published Volkswagen Digital Sales and Service Partnership, which appoints Churchill as an exclusive service provider to Volkswagen EV insurance business. The following month, we announced a collaboration with NIO Insurance Broker, the insurance arm of NIO. where we committed the customizing digital insurance service system for the well-known EV manufacturer. BAIC Group is one of the largest auto manufacturers in China, producing and selling vehicles through its own brands as well as foreign-branded joint ventures. The agreement we announced with the BAIC Group's insurance subsidiary names as a co-partner with the opportunity to develop relationships with brands under its umbrella, with NEB or traditional internal combustion workers. The partnership has already led to several successes, including Beijing Automotive System, which is expected to cover 200 dealerships by year end. Beijing Hyundai system, which is planned for 100 dealerships over the same time horizon. And the robust partnership with ArcFox, that is set to include more products in addition to the service system, being launched as direct sales channel. Most recently, we signed an agreement with Dongfeng Motor Group's insurance arm, naming us an approved provider for its family of brands. Our first established partnership in this group is with a luxury NEV brand, Woya, which provides national listening and other comprehensive insurance services across China, including more than 900 Woya delivery stores. As of June 30, 2024, the number of embedded policies continues to grow up 147% year-over-year to 224,000 policies. NEV growth premiums are most doubled from the prior year, going 99% to 91 million USD over the same period. Our technology roadmap continues to prioritize winning additional higher profile EV manufacturers and growing our current market share. Our self-reinforcing cloud-based model is easy to scale and collects valuable data insights that are organically leveraged to drive increasing precision of our products. Churchill's primary revenue driver continues to passenger vehicle sales As such, the company's strategies are related with an underlying dynamic that propels the automotive industry in China. To ensure a thriving future, we have leveraged our unique position in the industry, passing the ever-increasing quantities of inbound data streams to enhance all touchpoints with the user, from renewal to claims. We assess the refined risk profiles to better update pricing models and predict trends better. Helping manufacturers command a great understanding of driving behavior and the large ecosystem. Working together, we will generate more value for our partners and higher margins for Churchill. In the long term, We will work to extend our partnership with auto manufacturers beyond China and into additional regions such as Southeast Asia, the Middle East, and Europe, where local insurance companies might struggle to underwrite embedded policies. Our platform, given our valuable data collected in the space, would be able to help develop a customized pricing model. We are pleased with our progress in 2024 and look forward to the opportunities in the back half of the year. I will now turn the call over to our Chief CFO, Sandra. Thank you.