| Schedule of Bank Borrowings |
Schedule
of Bank Borrowings
| | |
Maturity date | |
Principal amount | | |
Interest rate per annum | | |
December 31, 2025 | | |
June 30, 2026 | |
| China Minsheng Bank(i) | |
January 14, 2026 | |
| 9,900 | | |
| 2.80 | % | |
| 9,900 | | |
| - | |
| China Minsheng Bank(i) | |
November 3, 2026 | |
| 9,900 | | |
| 2.50 | % | |
| 9,900 | | |
| 9,900 | |
| Bank of Beijing(ii) | |
June 5, 2026 | |
| 10,000 | | |
| 2.80 | % | |
| 10,000 | | |
| - | |
| Bank of Beijing(ii) | |
June 19, 2026 | |
| 10,000 | | |
| 2.80 | % | |
| 10,000 | | |
| - | |
| Industrial Bank(iii) | |
May 29, 2026 | |
| 5,000 | | |
| 2.80 | % | |
| 5,000 | | |
| - | |
| Industrial and Commercial Bank of China(iv) | |
June 26, 2026 | |
| 5,000 | | |
| 2.35 | % | |
| 5,000 | | |
| - | |
| Industrial and Commercial Bank of China(iv) | |
June 26, 2026 | |
| 5,000 | | |
| 2.35 | % | |
| 5,000 | | |
| - | |
| Industrial and Commercial Bank of China(v) | |
June 26, 2026 | |
| 5,000 | | |
| 2.35 | % | |
| 5,000 | | |
| - | |
| Bank of China(vi) | |
June 30, 2026 | |
| 10,000 | | |
| 2.15 | % | |
| 10,000 | | |
| - | |
| Bank of China(vi) | |
April 30,2027 | |
| 10,000 | | |
| 2.24 | % | |
| - | | |
| 10,000 | |
| Bank of Shanghai(vii) | |
September 8, 2026 | |
| 5,000 | | |
| 2.40 | % | |
| 5,000 | | |
| 5,000 | |
| Bank of Shanghai(viii) | |
August 28, 2026 | |
| 5,000 | | |
| 2.40 | % | |
| 5,000 | | |
| 5,000 | |
| China CITIC Bank (ix) | |
December 30, 2026 | |
| 700 | | |
| 2.80 | % | |
| 700 | | |
| 700 | |
| China CITIC Bank (ix) | |
March 23,2027 | |
| 9,300 | | |
| 2.50 | % | |
| - | | |
| 9,300 | |
| Bank of Beijing(x) | |
May 8, 2027 | |
| 4,800 | | |
| 2.60 | % | |
| 4,800 | | |
| 4,600 | |
| Bank of Beijing(x) | |
May 8, 2027 | |
| 5,000 | | |
| 2.60 | % | |
| 5,000 | | |
| 4,800 | |
| Bank of Beijing(x) | |
May 8, 2027 | |
| 5,000 | | |
| 2.60 | % | |
| - | | |
| 5,000 | |
| Bank of Beijing(x) | |
May 8, 2027 | |
| 4,000 | | |
| 2.60 | % | |
| - | | |
| 4,000 | |
| China Minsheng Bank(xi) | |
April 16,2027 | |
| 9,900 | | |
| 2.80 | % | |
| - | | |
| 9,900 | |
| China Minsheng Bank(xi) | |
May 27,2027 | |
| 4,990 | | |
| 2.80 | % | |
| - | | |
| 4,990 | |
| Industrial Bank(xii) | |
May 28,2027 | |
| 5,000 | | |
| 2.60 | % | |
| - | | |
| 5,000 | |
| Industrial and Commercial Bank of China （ⅹⅲ） | |
October 1,2026 | |
| 5,000 | | |
| 2.35 | % | |
| - | | |
| 5,000 | |
| Industrial and Commercial Bank of China （ⅹⅲ） | |
June 23,2027 | |
| 5,000 | | |
| 2.35 | % | |
| - | | |
| 5,000 | |
| Industrial and Commercial Bank of China （ⅹⅳ） | |
March 6,2027 | |
| 5,000 | | |
| 2.35 | % | |
| - | | |
| 5,000 | |
| Industrial and Commercial Bank of China （ⅹⅳ） | |
March 6,2027 | |
| 5,000 | | |
| 2.35 | % | |
| - | | |
| 5,000 | |
| Total Bank borrowings | |
| |
| | | |
| | | |
| 90,300 | | |
| 98,190 | |
| (i) |
On
November 6, 2024, the Group entered into a RMB30.0 million credit facility with China Minsheng Bank that will expire on November
5, 2025 to support its operations, which was jointly guaranteed by Cheche Insurance Sales & Service Co., Ltd. (“Cheche
Insurance”), a subsidiary of VIE and Baodafang. Under this credit facility, the Group drew down RMB9.9 million on January 14,
2025, and fully repaid such loan in full on January 14, 2026. In addition, the Group drew down another RMB9.9 million under this
credit facility on November 3, 2025. There are no financial covenants for the credit facility. |
| |
|
| (ii) |
On
June 20, 2024, Baodafang entered into a RMB50.0 million (updated to RMB20.0 million on December 25, 2024) credit facility with the
Bank of Beijing that will expire on June 19, 2026 to support its operations, which was guaranteed by Beijing Cheche. On June 10,
2025, Beijing Cheche entered into non-recourse factoring agreement with the Bank of Beijing, whereby the Bank of Beijing would settle
Baodafang’s accounts payable by providing RMB10.0 million to Baodafang’s supplier, Beijing Cheche. The interest was prepaid
in 2025 and the principal has been repaid upon maturity on June 5, 2026. In addition, under this credit facility, the Group drew
down RMB10.0 million on June 19, 2025, which were repaid on June 18, 2026. |
CHECHE
GROUP INC.
NOTES
TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)
(All
amounts in thousands, except for share and per share data)
| (iii) |
On
May 30, 2025, the Group entered into a loan contract of RMB5.0 million with the Industrial Bank Co., Ltd. (“Industrial Bank”)
that will expire on May 29, 2026 to support its operations, which was guaranteed by Cheche Insurance. The loans of RMB 5.0 million
have been repaid on May 28, 2026. |
| |
|
| (iv) |
On
October 14, 2025, the Group entered into a loan contract of RMB10.0 million with the Industrial and Commercial Bank of China that
will expire on June 26, 2026 to support its operations, which was jointly guaranteed by Baodafang and Cheche Insurance. The loans
of RMB 10.0 million have been repaid on June 24, 2026. |
| |
|
| (v) |
On
June 27, 2025, the Group entered into a loan contract of RMB5.0 million with the Industrial and Commercial Bank of China that will
expire on June 26, 2026 to support its operations, which was guaranteed by Beijing Cheche and Cheche Insurance. The loans of RMB5.0
million have been repaid on June 24, 2026. |
| |
|
| (vi) |
On
June 30, 2025, the Group entered into a RMB10.0 million credit facility with the Bank of China that will expire on June 28, 2026
to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB10.0 million
on June 30, 2025, and the loans of RMB10.0 million have been repaid on April 28, 2026. In addition, the Group drew down RMB10.0 million
under this credit facility on April 30, 2026. There are no financial covenants for the credit facility. |
| |
|
| (vii) |
On
December 8, 2025, the Group entered into a RMB5.0 million credit facility with the Bank of Shanghai that will expire on August 24,
2026 to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB5.0
million on December 8, 2025. There are no financial covenants for the credit facility. |
| |
|
| (viii)
|
On
November 28, 2025, the Group entered into a RMB5.0 million credit facility with the Bank of Shanghai that will expire on August 26,
2026 to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB5.0
million on November 28, 2025. There are no financial covenants for the credit facility. |
| |
|
| (ix)
|
On
December 29, 2025, the Group entered into a RMB10.0 million credit facility with China CITIC Bank that will expire on December 20,
2026 to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB0.7 million
on December 31, 2025 and RMB9.3 million on March 24, 2026, respectively. There are no financial covenants for the credit facility. |
| |
|
| (x)
|
On
May 8, 2025, the Group entered into a RMB20.0 million credit facility with the Bank of Beijing that will expire on May 8, 2027 to
support its operations, which was secured by a deposit pledge of USD3.0 million. Under this credit facility, the Group drew down
RMB5.0 million on June 3, 2025, of which RMB0.2 million of principal was repaid on December 3, 2025 and an additional RMB0.2 million
of principal was repaid on June 3, 2026. The Group further drew down another RMB5.0 million on October 22, 2025, of which RMB0.2
million of principal was repaid on April 22, 2026. In addition, the Group drew down RMB5.0 million on March 13, 2026 and RMB4.0 million
on March 26, 2026, respectively. As of June 30, 2026, the loans of RMB4.6 million and RMB4.8 million were reclassified from long-term
borrowings to short-term borrowings as the maturity dates were within one year. There are no financial covenants for the credit facility. |
| |
|
| (xi)
|
On
March 30, 2026, the Group entered into a RMB15.0 million credit facility with China Minsheng Bank that will expire on March 29, 2027
to support its operations, which was secured by a deposit pledge of USD2.4 million. Under this credit facility, the Group drew down
RMB9.9 million on April 16, 2026 and RMB5.0 million on May 27, 2026, respectively. There are no financial covenants for the credit
facility. |
| |
|
| (xii) |
On
May 25, 2026, the Group entered into a RMB5.0 million credit facility with Industrial Bank that will expire on May 24, 2027 to support
its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB5.0 million on May 29,
2026. As of June 30, 2026, the Group is in compliance with all of the loan covenants. |
| |
|
| (xiii) |
On
June 24, 2026, the Group entered into two loan contracts each in the amount of RMB5.0 million with the Industrial and Commercial
Bank of China, that will expire on October 1, 2026 and June 23, 2027 respectively to support its operations, which were guaranteed
by Beijing Cheche and Cheche Insurance. There are no financial covenants for the credit facility. |
| |
|
| (xiv) |
On
June 24, 2026, the Group entered into two loan contracts each in the amount of RMB5.0 million with the Industrial and Commercial
Bank of China, that both will expire on March 6, 2027 to support its operations, which were guaranteed by Cheche Insurance and Baodafang.
There are no financial covenants for the credit facility. |
|