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149194000 131730000 <p id="xdx_80C_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_ziyYL0crdll1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_82A_z76eddAunPY2">Organization and Principal Activities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cheche Group Inc. (the “Company” or “Cheche Group”) was incorporated in the Cayman Islands in January 2023 as an exempted company with limited liability. The Company is a holding company and conducts its business mainly through its subsidiaries, variable interest entity Beijing Cheche Technology Co., Ltd. (“Beijing Cheche” or “VIE”) and subsidiaries of VIE (collectively referred to as the “Group”). Cheche Technology (Ningbo) Co., Ltd. (“Cheche Ningbo”) is wholly foreign-owned enterprise (the “WFOE”). The Group conducted its business in the People’s Republic of China (the “PRC” or “China”) through a series of contractual agreements entered into by the WFOE with the VIE based in China. The Group is primarily engaged in the operation of providing insurance transaction services, Software-as-a-Service (“SaaS”) and technical service and other services in China.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_esrt--ScheduleOfCondensedBalanceSheetTableTextBlock_zORy5Z1m12kj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited interim condensed consolidated financial information of the VIE after the elimination of inter-company transactions between the VIE and its subsidiaries as of December 31, 2025 and June 30, 2026 and for the six months ended June 30, 2025 and 2026 was included in the accompanying unaudited interim condensed consolidated financial statements of the Group as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">  <span id="xdx_8B9_z4VcXr1ojdIi">Schedule of Consolidated Financial Statements</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zeKLZignHZO5" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of December 31,</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zLwtYyzeCbH3" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of June 30,</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AssetsAbstract_iB_zBsmHodZf5kk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">ASSETS</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--AssetsCurrentAbstract_i01B_zMYi2RAyHosg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_pn3n3_maACznjj_zcqlngVKQlrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cash and cash equivalents</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">54,927</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">68,824</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RestrictedCashCurrent_i02I_pn3n3_maACznjj_zyc5uAWDK047" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Restricted cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--ShortTermInvestments_i02I_pn3n3_maACznjj_zEk2JP1iDnj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term investment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">226</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">226</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AccountsReceivableNetCurrent_i02I_pn3n3_maACznjj_zstaFxvGdTb2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accounts receivable, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">821,560</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">529,868</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i02I_pn3n3_maACznjj_z4urNEHdvdjk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments and other current assets</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">53,827</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">56,710</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OtherReceivablesNetCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_maACznjj_zie1EetA6rYk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due from intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,949</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,912</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AssetsCurrent_i02TI_pn3n3_maAzixQ_mtACznjj_zxqFclsALAr" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total current assets</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">938,489</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">663,540</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--AssetsNoncurrentAbstract_i01B_pn3n3_zEc9R98I2LSh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_i02I_pn3n3_maANz6PF_zd9fkCZZlPn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Property, equipment and leasehold improvement, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">777</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">854</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--IntangibleAssetsNetExcludingGoodwill_i02I_pn3n3_maANz6PF_zxyaxRJrdmKh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Intangible assets, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,850</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_i02I_pn3n3_maANz6PF_zWFbdBmNn9Qj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Right-of-use assets</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,453</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,016</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--Goodwill_i02I_pn3n3_maANz6PF_zr1zQCq7XZqb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Goodwill</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">84,609</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">84,609</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--AssetsNoncurrent_i02TI_pn3n3_mtANz6PF_maAzixQ_z8pPksOcQ1e2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total non-current assets</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">95,689</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">93,279</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--Assets_i01TI_pn3n3_mtAzixQ_zATbodYNpNBi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">TOTAL ASSETS</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,034,178</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">756,819</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesAbstract_iB_pn3n3_zEJi9VWZkhVd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">LIABILITIES</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesCurrentAbstract_i01B_pn3n3_z8dLYF4p9bWh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_maLCzUij_zX4T4VRBIG1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accounts payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">622,496</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">354,982</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--ShortTermBorrowings_i02I_pn3n3_maLCzUij_znh6X4xhoUjj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term borrowings</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">39,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,900</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiabilityCurrent_i02I_pn3n3_maLCzUij_zmpi6h1XNgyi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contract liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--EmployeeRelatedLiabilitiesCurrent_i02I_pn3n3_maLCzUij_zUJND4oZsAsb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Salary and welfare benefits payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">64,127</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59,610</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrent_i02I_pn3n3_maLCzUij_zCYzPYRZqoej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,099</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,589</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilitiesCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_maLCzUij_zqgWl5K5Yep4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Amounts due to related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">50,626</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">52,949</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_i02I_pn3n3_maLCzUij_zQmbdWQ8qE8f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued expenses and other current liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,028</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,610</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityCurrent_i02I_pn3n3_maLCzUij_zsPzhRr4rdhl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term lease liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,727</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,510</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OtherLiabilitiesCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_maLCzUij_zd7rRs8mb7Qi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,798</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">239,408</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesCurrent_i02TI_pn3n3_mtLCzUij_maLzPRM_zLb9lJCNZX16" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total current liabilities</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,003,704</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">768,561</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesNoncurrentAbstract_i01B_pn3n3_z9mXIOF62fej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxLiabilitiesNet_i02I_pn3n3_maLNzIpz_zv3sFpe00b0i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred tax liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">963</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">700</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i02I_pn3n3_maLNzIpz_z5WSnb7o74V2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Long-term lease liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">801</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">604</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredRevenueNoncurrent_i02I_pn3n3_maLNzIpz_zqZEw6yVGed4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,432</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,432</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OtherLiabilitiesNoncurrent_i02I_pn3n3_maLNzIpz_zXxYRdXT6eqa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">225,128</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">220,256</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilitiesNoncurrent_i02I_pn3n3_maLNzIpz_zx5pCHMVcad9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to related party</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">225,128</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">220,256</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesNoncurrent_i02TI_pn3n3_mtLNzIpz_maLzPRM_zVxDX4n3bSKg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total non-current liabilities</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">228,324</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">222,992</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--Liabilities_i01TI_pn3n3_mtLzPRM_z2yjMrL5nDy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">TOTAL LIABILITIES (without recourse to the primary beneficiary)</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,232,028</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,553</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A4_zqPl2COPioa3" style="margin: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="margin: 0"></p> <p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. Organization and Principal Activities (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89A_esrt--ScheduleOfCondensedIncomeStatementTableTextBlock_zHayBZzcPrmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zUgWnHzuTFPg" style="display: none">Schedule of Operation</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20250101__20250630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zsW7kLJUq3V7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20260101__20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zjQzfhkgbW8f" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">For the six months ended</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30,</span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenuesAbstract_iB_zLp64eh3QFnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net revenues</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ExternalPartiesMember_zbBUa9AcWZhd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- earned from external parties</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,113,412</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">839,667</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_zl0QvfFD53c8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- earned from intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,717</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0602">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zbJEdzUE4Ebb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total revenues</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,118,129</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">839,667</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--CostOfRevenueAbstract_iB_pn3n3_zgXPAUI6WLwf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cost of revenues and operating expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ExternalPartiesMember_zj5de3auNjpb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- arising from external parties transactions</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,127,327</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(873,735</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_zMlrz8IUle1i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- arising from intra-Group transactions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,607</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,153</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_i01_pn3n3_zLAmaxQsixbj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total cost of revenues and operating expenses</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,146,934</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(883,888</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLoss_pn3n3_zztZn5CTzr61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net loss</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(30,244</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(39,756</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p id="xdx_8AE_zGOAyF3Rutn6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_esrt--ScheduleOfCondensedCashFlowStatementTableTextBlock_ztY78YNXQHh9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zviSjZH1uSNg" style="display: none">Schedule of Cash Flow</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20250101__20250630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zRyQ6irmpuC8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20260101__20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zB4z0JYq7MDc" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">For the six months ended</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30,</span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_z1J6bz8hkbEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cash flows from operating activities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--IntraGroupCompaniesMember_zsiFW3nw1WH2" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash (used in)/generated from transactions with intra-Group companies</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(60,601</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,908</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zkrNGHrJufWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">48,915</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,890</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_z04ZHzAD2KCc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash (used in)/generated from operating activities</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,686</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,018</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zXooQLTatX56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,060</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(221</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40A_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_zXzxq5IaaL0k" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) investing activities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,060</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(221</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--IntraGroupCompaniesMember_zfmVTG3Vj1Kd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash used in transactions with intra-Group companies</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,457</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0643">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zZq4GpRCPUNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">19,876</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,900</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40B_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_zN030aoJZSJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) financing activities</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,419</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,900</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zOy0Mv6Yrsu" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net increase in cash and cash equivalents</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,793</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13,897</b></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AF_zlUzGylmJJ99" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has incurred recurring operating losses since its inception, including net loss of RMB<span id="xdx_902_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20250101__20250630_zlUqnMRUz0kl" title="Net loss">25.6</span> million, and RMB<span id="xdx_901_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20260101__20260630_zCp6WSJWMMy5" title="Net loss">44.1</span> million for the six months ended June 30, 2025 and 2026, respectively. Net cash used in operating activities were RMB<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20250101__20250630_zgYeN3v7LjNe" title="Net cash used in operating activities">8.6</span> million and RMB<span id="xdx_907_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20260101__20260630_zT4afSNGrxW7" title="Net cash used in operating activities">2.3</span> million for the six months ended June 30, 2025 and 2026 respectively. Accumulated deficit was RMB<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20251231_zSyegGY0dtIc" title="Accumulated deficit">2,192.8</span> million and RMB<span id="xdx_902_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20260630_z9wFxOnRC5Ic" title="Accumulated deficit">2,236.9</span> million as of December 31, 2025 and June 30, 2026, respectively. The Group assesses its liquidity by its ability to generate cash from operating activities and attract investors’ investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Historically, the Group has relied principally on both operational sources of cash and non-operational sources of financing from investors to fund its operations and business development. The Group’s ability to continue as a going concern is dependent on management’s ability to successfully execute its business plan, which includes increasing revenues while controlling operating expenses, as well as, generating operational cash flows and continuing to gain support from outside sources of financing. The Group had a positive working capital (defined as total current assets deducted by total current liabilities) of RMB<span id="xdx_900_ecustom--WorkingCapital_iI_pn5n6_c20260630_z4h2JFmUgTD7" title="Working capital">213.7</span> million, also the Group had RMB<span id="xdx_908_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20260630_zDcRxrHvzDu1" title="Cash and cash equivalents">131.7</span> million, in cash and cash equivalents, as well as the credit line of Bank of Beijing RMB<span id="xdx_90D_eus-gaap--LinesOfCreditCurrent_iI_pn5n6_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingMember_znibkMvC6N25" title="Line of credit">20.0</span> million (due in June 2028), which has not been used as of June 30, 2026. Moreover, the Group can adjust the pace of its operation expansion and control the operating expenses of the Group. Based on the above considerations, the Group believes the cash and cash equivalents and the operating cash flows are sufficient to meet the cash requirements to fund planned operations and other commitments for at least the next twelve months from the date of the issuance of the unaudited interim condensed consolidated financial statements. The Group’s unaudited interim condensed consolidated financial statements have been prepared based on the Company continuing as a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_esrt--ScheduleOfCondensedBalanceSheetTableTextBlock_zORy5Z1m12kj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited interim condensed consolidated financial information of the VIE after the elimination of inter-company transactions between the VIE and its subsidiaries as of December 31, 2025 and June 30, 2026 and for the six months ended June 30, 2025 and 2026 was included in the accompanying unaudited interim condensed consolidated financial statements of the Group as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">  <span id="xdx_8B9_z4VcXr1ojdIi">Schedule of Consolidated Financial Statements</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zeKLZignHZO5" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of December 31,</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zLwtYyzeCbH3" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of June 30,</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AssetsAbstract_iB_zBsmHodZf5kk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">ASSETS</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--AssetsCurrentAbstract_i01B_zMYi2RAyHosg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_pn3n3_maACznjj_zcqlngVKQlrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cash and cash equivalents</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">54,927</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">68,824</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RestrictedCashCurrent_i02I_pn3n3_maACznjj_zyc5uAWDK047" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Restricted cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--ShortTermInvestments_i02I_pn3n3_maACznjj_zEk2JP1iDnj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term investment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">226</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">226</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AccountsReceivableNetCurrent_i02I_pn3n3_maACznjj_zstaFxvGdTb2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accounts receivable, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">821,560</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">529,868</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i02I_pn3n3_maACznjj_z4urNEHdvdjk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments and other current assets</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">53,827</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">56,710</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OtherReceivablesNetCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_maACznjj_zie1EetA6rYk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due from intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,949</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,912</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AssetsCurrent_i02TI_pn3n3_maAzixQ_mtACznjj_zxqFclsALAr" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total current assets</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">938,489</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">663,540</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--AssetsNoncurrentAbstract_i01B_pn3n3_zEc9R98I2LSh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_i02I_pn3n3_maANz6PF_zd9fkCZZlPn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Property, equipment and leasehold improvement, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">777</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">854</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--IntangibleAssetsNetExcludingGoodwill_i02I_pn3n3_maANz6PF_zxyaxRJrdmKh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Intangible assets, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,850</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_i02I_pn3n3_maANz6PF_zWFbdBmNn9Qj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Right-of-use assets</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,453</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,016</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--Goodwill_i02I_pn3n3_maANz6PF_zr1zQCq7XZqb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Goodwill</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">84,609</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">84,609</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--AssetsNoncurrent_i02TI_pn3n3_mtANz6PF_maAzixQ_z8pPksOcQ1e2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total non-current assets</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">95,689</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">93,279</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--Assets_i01TI_pn3n3_mtAzixQ_zATbodYNpNBi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">TOTAL ASSETS</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,034,178</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">756,819</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesAbstract_iB_pn3n3_zEJi9VWZkhVd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">LIABILITIES</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesCurrentAbstract_i01B_pn3n3_z8dLYF4p9bWh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_maLCzUij_zX4T4VRBIG1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accounts payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">622,496</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">354,982</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--ShortTermBorrowings_i02I_pn3n3_maLCzUij_znh6X4xhoUjj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term borrowings</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">39,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,900</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiabilityCurrent_i02I_pn3n3_maLCzUij_zmpi6h1XNgyi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contract liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--EmployeeRelatedLiabilitiesCurrent_i02I_pn3n3_maLCzUij_zUJND4oZsAsb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Salary and welfare benefits payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">64,127</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59,610</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrent_i02I_pn3n3_maLCzUij_zCYzPYRZqoej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,099</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,589</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilitiesCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_maLCzUij_zqgWl5K5Yep4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Amounts due to related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">50,626</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">52,949</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_i02I_pn3n3_maLCzUij_zQmbdWQ8qE8f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued expenses and other current liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,028</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,610</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityCurrent_i02I_pn3n3_maLCzUij_zsPzhRr4rdhl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Short-term lease liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,727</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,510</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OtherLiabilitiesCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_maLCzUij_zd7rRs8mb7Qi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,798</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">239,408</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesCurrent_i02TI_pn3n3_mtLCzUij_maLzPRM_zLb9lJCNZX16" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total current liabilities</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,003,704</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">768,561</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesNoncurrentAbstract_i01B_pn3n3_z9mXIOF62fej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxLiabilitiesNet_i02I_pn3n3_maLNzIpz_zv3sFpe00b0i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred tax liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">963</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">700</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i02I_pn3n3_maLNzIpz_z5WSnb7o74V2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Long-term lease liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">801</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">604</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredRevenueNoncurrent_i02I_pn3n3_maLNzIpz_zqZEw6yVGed4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,432</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,432</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OtherLiabilitiesNoncurrent_i02I_pn3n3_maLNzIpz_zXxYRdXT6eqa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">225,128</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">220,256</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilitiesNoncurrent_i02I_pn3n3_maLNzIpz_zx5pCHMVcad9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Amounts due to related party</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">225,128</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">220,256</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesNoncurrent_i02TI_pn3n3_mtLNzIpz_maLzPRM_zVxDX4n3bSKg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total non-current liabilities</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">228,324</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">222,992</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--Liabilities_i01TI_pn3n3_mtLzPRM_z2yjMrL5nDy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">TOTAL LIABILITIES (without recourse to the primary beneficiary)</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,232,028</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,553</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 54927000 68824000 5000000 5000000 226000 226000 821560000 529868000 53827000 56710000 2949000 2912000 938489000 663540000 777000 854000 3850000 2800000 6453000 5016000 84609000 84609000 95689000 93279000 1034178000 756819000 622496000 354982000 39800000 29900000 3000 3000 64127000 59610000 12099000 13589000 50626000 52949000 13028000 14610000 4727000 3510000 196798000 239408000 1003704000 768561000 963000 700000 801000 604000 1432000 1432000 225128000 220256000 225128000 220256000 228324000 222992000 1232028000 991553000 <p id="xdx_89A_esrt--ScheduleOfCondensedIncomeStatementTableTextBlock_zHayBZzcPrmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zUgWnHzuTFPg" style="display: none">Schedule of Operation</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20250101__20250630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zsW7kLJUq3V7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20260101__20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zjQzfhkgbW8f" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">For the six months ended</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30,</span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenuesAbstract_iB_zLp64eh3QFnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net revenues</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ExternalPartiesMember_zbBUa9AcWZhd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- earned from external parties</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,113,412</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">839,667</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_zl0QvfFD53c8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- earned from intra-Group companies</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,717</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0602">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zbJEdzUE4Ebb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total revenues</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,118,129</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">839,667</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--CostOfRevenueAbstract_iB_pn3n3_zgXPAUI6WLwf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cost of revenues and operating expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ExternalPartiesMember_zj5de3auNjpb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- arising from external parties transactions</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,127,327</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(873,735</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_i01_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IntraGroupCompaniesMember_zMlrz8IUle1i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">- arising from intra-Group transactions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,607</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,153</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_i01_pn3n3_zLAmaxQsixbj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total cost of revenues and operating expenses</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,146,934</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(883,888</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLoss_pn3n3_zztZn5CTzr61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net loss</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(30,244</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(39,756</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> 1113412000 839667000 4717000 1118129000 839667000 -1127327000 -873735000 -19607000 -10153000 -1146934000 -883888000 -30244000 -39756000 <p id="xdx_89E_esrt--ScheduleOfCondensedCashFlowStatementTableTextBlock_ztY78YNXQHh9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zviSjZH1uSNg" style="display: none">Schedule of Cash Flow</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20250101__20250630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zRyQ6irmpuC8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20260101__20260630__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zB4z0JYq7MDc" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">For the six months ended</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30,</span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">RMB</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_z1J6bz8hkbEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cash flows from operating activities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--IntraGroupCompaniesMember_zsiFW3nw1WH2" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash (used in)/generated from transactions with intra-Group companies</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(60,601</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,908</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zkrNGHrJufWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">48,915</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,890</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01_pn3n3_z04ZHzAD2KCc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash (used in)/generated from operating activities</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,686</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,018</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zXooQLTatX56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,060</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(221</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40A_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_zXzxq5IaaL0k" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) investing activities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,060</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(221</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--IntraGroupCompaniesMember_zfmVTG3Vj1Kd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash used in transactions with intra-Group companies</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,457</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0643">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_hus-gaap--RelatedPartyTransactionAxis__custom--ExternalPartiesMember_zZq4GpRCPUNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) transactions with external parties</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">19,876</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,900</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40B_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_zN030aoJZSJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash generated from/(used in) financing activities</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,419</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,900</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zOy0Mv6Yrsu" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net increase in cash and cash equivalents</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,793</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13,897</b></span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> -60601000 31908000 48915000 -7890000 -11686000 24018000 3060000 -221000 3060000 -221000 -3457000 19876000 -9900000 16419000 -9900000 7793000 13897000 -25600000 -44100000 -8600000 -2300000 -2192800000 -2236900000 213700000 131700000 20000000.0 <p id="xdx_804_eus-gaap--SignificantAccountingPoliciesTextBlock_zMgFONCa5uK2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2 <span id="xdx_82C_z7bU5qiBS3Yc">Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zPOmmwCmbRF6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a) <span id="xdx_86C_zywIzumUUmIi">Basis of presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted consistent with Article 10 of Regulation S-X.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2026 and the results of its operations and its cash flows for the six months ended June 30, 2025 and 2026. The results for the six months ended June 30, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods, or any future year or period. These unaudited interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements as of and for the year ended December 31, 2025 and notes thereto also included herein.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant accounting policies followed by the Group in the preparation of the accompanying unaudited interim condensed consolidated financial statements as of and for the six months ended June 30, 2026 and 2025 are summarized below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--ConsolidationPolicyTextBlock_zCKeGbIwibnh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b) <span id="xdx_86B_zeBR4RP8kxZa">Principles of consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited interim condensed consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and subsidiaries of VIE for which the Company is the primary beneficiary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of the board of directors, or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A consolidated VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, has the power to direct the activities that most significantly impact the entity’s economic performance, bears the risks of and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All transactions and balances among the Company, its subsidiaries, VIE and subsidiaries of VIE have been eliminated upon consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 33pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--UseOfEstimates_zgmqns3tokY9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c) <span id="xdx_86E_zUJhZPj22dGg">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Group’s unaudited interim condensed consolidated financial statements in conformity with the U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the balance sheet date and reported revenues and expenses during the reported periods in the unaudited interim condensed consolidated financial statements and accompanying notes. Significant accounting estimates include, but are not limited to, provision of current expected credit losses of receivables, the impairment of goodwill, fair value of amounts due to related party and warrant, as well as the valuation and recognition of share-based compensation expenses. Actual results could differ from those estimates, and as such, differences may be material to the unaudited interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zkWuDh5fJLV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>d) <span id="xdx_862_zyLaEYu5EdOc">Functional currency and foreign currency translation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands and Hong Kong is United States dollars (“US$”). The functional currency of the Group’s PRC entities is RMB.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the unaudited interim condensed consolidated financial statements, the financial information of the Company and other entities located outside of the PRC have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, and expenses, gains and losses are translated using the average rate for the period. Translation adjustments are reported as foreign currency translation adjustments, and are shown as a component of other comprehensive loss in the unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in foreign exchange (losses)/gains in the unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_840_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zt0utKHYQTqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>e) <span id="xdx_861_zM0Gm5d4a4e">Fair value measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s financial instruments include cash and cash equivalents, restricted cash, short-term investments, accounts receivable, other receivables (included in “prepayments and other current assets”), accounts payable, short-term borrowings, contract liabilities and other payables (included in “accrued expenses and other current liabilities”), of which the carrying values approximate their fair value. Lease liabilities are measured at amortized cost using discounted rates reflected time value of money.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z7cLoHxShZ1c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>f) <span id="xdx_869_z8GEM5jeCNE3">Cash, cash equivalents and restricted cash</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents mainly represent cash on hand, demand deposits placed with large reputable banks in China, and highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase with terms of three months or less. As of December 31, 2025 and June 30, 2026, there were cash at bank denominated in US dollars amounting to approximately US$<span id="xdx_903_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uUSD_c20251231_znmoIxnefNf3" title="Cash at bank">9.5</span> million (RMB<span id="xdx_90E_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uRMB_c20251231_z6bnFkfeZG6g" title="Cash at bank">66.8</span> million) and US$<span id="xdx_90B_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uUSD_c20260630_znv3EWV0yXZb" title="Cash at bank">4.4</span> million (RMB<span id="xdx_906_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uRMB_c20260630_zHg1BIXNO2Yb" title="Cash at bank">30.2</span> million), respectively, and denominated in RMB amounting to approximately RMB<span id="xdx_907_ecustom--CastAtBankDenominate_iI_pn5n6_c20251231_zdB8bTrNBkT5" title="Cash at bank denominate">77.7</span> million and RMB<span id="xdx_908_ecustom--CastAtBankDenominate_iI_pn5n6_uRMB_c20260630_z6TXbs3bvzSf">101.5</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and June 30, 2026, the Group had approximately RMB<span id="xdx_904_eus-gaap--RestrictedCashAndCashEquivalents_iI_pn5n6_uRMB_c20251231_zQHR0NFJbXAg" title="Cash and cash equivalents">87.6</span> million and RMB<span id="xdx_90F_eus-gaap--RestrictedCashAndCashEquivalents_iI_pn5n6_uRMB_c20260630_ztnqvHWTXFy4" title="Cash and cash equivalents">111.2</span> million, cash and cash equivalents held by its PRC subsidiaries and VIE, representing <span id="xdx_90E_eus-gaap--DerivativeVariableInterestRate_iI_pid_dp_uPure_c20251231_z2ELhzDnKJQh" title="Variable interest entity">60.6</span>% and <span id="xdx_904_eus-gaap--DerivativeVariableInterestRate_iI_pid_dp_uPure_c20260630_zKgLQFEb64M1" title="Variable interest entity">84.4</span>% of total cash and cash equivalents of the Group, respectively. As of December 31, 2025 and June 30, 2026, the Group had RMB<span id="xdx_90B_eus-gaap--RestrictedCash_iI_pn5n6_uRMB_c20251231_zBqzQ85q668f" title="Restricted cash">26.1</span> million and RMB<span id="xdx_90A_eus-gaap--RestrictedCash_iI_pn5n6_uRMB_c20260630_zACqcfpMnhS6" title="Restricted cash">41.8</span> million restricted cash, respectively. Restricted cash primarily represents cash deposits in a regulatory escrow account related to insurance transaction services and a USD<span id="xdx_900_eus-gaap--EscrowDeposit_iI_pn6n6_c20260630_ztjk6k5ek1mg" title="Escrow deposits">3</span> million deposit was pledged to Bank of Beijing as collateral for a borrowing with a credit line amount of RMB<span id="xdx_908_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_pn6n6_uRMB_c20260630_zcFdG5YnFwd9" title="Borrowing with a credit line">20</span> million and a USD<span id="xdx_904_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_pn5n6_uUSD_c20260630_zZzid888tOh8" title="Borrowing with a credit line">2.4</span> million deposit was pledged to China Minsheng Bank as collateral for a RMB<span id="xdx_907_eus-gaap--CashCollateralForBorrowedSecurities_iI_pn6n6_uRMB_c20260630_zpDn5BszsKnl" title="bank collateral borrowed">15</span> million borrowed by Baodafang Technology Co., Ltd. (“Baodafang”), a wholly owned subsidiary of the Company, from the bank. Restricted cash is classified into current and non-current assets based on the maturities of term deposits. The Group had no other lien arrangements for the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--AllowanceForCreditLossesTextBlock_zBTif1ihqnZ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>g) <span id="xdx_86B_z4ORNncHU5xg">Expected credit losses of receivables</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s accounts receivable and other receivables (included in “prepayments and other current assets”) are within the scope of Accounting Standards Codification (“ASC”) 326. To estimate current expected credit losses, the Group has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include size, type of the services the Group provides, or a combination of these characteristics.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the past collection experience, any changes in customer collection trends, the credit worthiness of customers, the contractual and customary payment terms that generally range from 30 to 180 days, current economic conditions, and expectation of future economic conditions (external data and macroeconomic factors). Accounts receivable balances are written off (i.e., charged-off against the allowance) when they are determined to be uncollectible after all means of collection have been exhausted and the potential for recovery is considered remote.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable is recorded at the invoiced amount and do not bear interest. As of December 31, 2025 and June 30, 2026, the Group’s accounts receivable consists primarily of receivables from insurance transaction services customers. The Group recorded current expected credit loss expense of <span id="xdx_904_eus-gaap--ProvisionForDoubtfulAccounts_dxL_c20250101__20250630_zflDG2rmXuGk" title="Provision of allowance for current expected credit losses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0719">nil</span></span> and RMB<span id="xdx_90A_eus-gaap--ProvisionForDoubtfulAccounts_pn5n6_uRMB_c20260101__20260630_z663PX2OZA07" title="Provision of allowance for current expected credit losses">34.1</span> million for the six months period ended June 30, 2025 and 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_84E_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zktEx2hhr2Na" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>h) <span id="xdx_86B_zt8DlRiFGvAl">Impairment of long-lived assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-lived assets or asset group, including intangible assets with finite lives, are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. No impairment charge was recognized for any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--WarrantPolicyTextBlock_z64qrtbumBdd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>i) <span id="xdx_862_zDLyOG2WAtHh">Warrant</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is assessed at the end of each reporting period. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the warrants instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zOIQcLfX8Yd5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j) <span id="xdx_86E_zatMB8oLyJDd">Revenue recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is the transaction price the Group expects to be entitled to in exchange for the promised services in a contract in the common course of the Group’s activities and is recorded net of value-added tax (“VAT”). The services to be accounted for mainly include insurance transaction services, SaaS and technical service and other services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 1: Identify the contract(s) with a customer</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 2: Identify the performance obligations in the contract</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 3: Determine the transaction price</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 4: Allocate the transaction price to the performance obligations in the contract</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Insurance Transaction Services Income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The main source of revenue is insurance transaction services fee directly from (i) insurance carriers who underwrite insurance policies and (ii) insurance intermediaries who directly transact with insurance carriers, both determined based on a percentage of premium paid by the insured. The service fee rate paid by the insurance carriers or insurance intermediaries, shall be based on the terms specified in the service contract with the insurance carriers or with the insurance intermediaries for each insurance policy sold through the Group’s online platform and mobile applications in the PRC. The Group determines that the insurance carrier or insurance intermediary, are its customer in these agreements. Insurance transaction services revenue for the commission earned is recognized at a point in time when the Company has fulfilled its performance obligation. This occurs when the signed insurance policy is in place and the premium is collected by the insurance carriers from the insured.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j) Revenue recognition (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SaaS and technical service income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group provides SaaS services to selected insurance carriers or insurance intermediaries. This cloud-based services allow insurance carriers or insurance intermediaries to use the Group’s self-developed SaaS management system without taking possession of its software. The Group has determined that the insurance carriers or insurance intermediaries as customers and initially records services fee as contract liabilities upon receipt and then recognizes the revenue on a straight-line basis over the service period, which is usually one year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group also provides technical service to third-party companies. The Group charges third-party companies service fee for developing software for them. Technical service revenue is recognized based on cost-to-cost input method of measuring progress upon the completion of each service.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other Services</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group provides automotive after-sales service to third-party companies or individual consumers. The Group satisfies its performance obligation through delivering automotive after-sales service and receives service fee from the third-party companies and individual consumers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Contract Balances and Accounts Receivable</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contract liabilities primarily consist of customer advances which relates to the payments received for SaaS and technical service in advance of performance under the contract. The increase in contract liabilities over the periods presented was a result of the increase in consideration received from the Group’s customers, which was in line with the growth of revenues in SaaS and technical service. Due to the generally short-term duration of the relevant contracts, the majority of the performance obligations are satisfied within one year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 and 2026, the Group recognized revenue amounted to RMB<span id="xdx_909_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn5n6_uRMB_c20250101__20250630_zNpUfFJMHihl" title="Revenue">0.9</span> million and RMB<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn5n6_uRMB_c20260101__20260630_z5eUwo04Mbnb" title="Revenue">0.6</span> million, respectively that was included in the corresponding opening contract liabilities balance of RMB<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn5n6_uRMB_c20241231_z5D1QY3mpZ7l" title="Contract liabilities balance">1.8</span> million and RMB<span id="xdx_901_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn5n6_uRMB_c20251231_zljkVyskLeCc" title="Contract liabilities balance">1.0</span> million as of December 31, 2024 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 and 2026, the Group did not have any arrangement where the performance obligations has already been satisfied in the past year but recognized the corresponding revenue in the current period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable mainly represent amounts due from insurance transaction services customers, when the Group has satisfied its performance obligations and has the unconditional right to payment. They are carried at net realizable value. Please see Note 3 for additional information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Practical Expedients</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has elected to use the following practical expedients as allowed under ASC Topic 606:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) Payment terms and conditions vary by contract type, although terms generally include a requirement of prepayment or payment within one year or less. The Group has determined that its contracts generally do not include a significant financing component.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) Costs to obtain a contract with a customer were expensed as incurred when the amortization period would have been one year or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_ecustom--SellingAndMarketingExpensesPolicyTextBlock_zmZ776lQ55Eh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>k) <span id="xdx_867_z9psKrXufpBc">Selling and marketing expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling and marketing expenses consist primarily of advertising and promotional expenses, salary and welfare benefits, share-based compensation expenses to the Group’s sales and marketing personnel, and amortization expenses. Advertising and promotional expenses consist primarily of costs for the promotion of corporate image, online platform and mobile applications. The Group expenses all advertising and promotional expenses as incurred and classifies them under selling and marketing expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--GovernmentGrantsPolicyTextBlock_zK7rOn8VIdGl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>l) <span id="xdx_869_zn09hCoVzcDj">Government grants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Government grants mainly represent subsidies and tax refunds for operating a business in certain jurisdictions and fulfilment of specified tax payment obligations. Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred government grants included RMB<span id="xdx_90F_eus-gaap--GrantsReceivable_iI_pn5n6_uRMB_c20250630_znB2WrIc5wU8" title="Deferred government grants">1.4</span> million and RMB<span id="xdx_904_eus-gaap--GrantsReceivable_iI_pn5n6_uRMB_c20260630_zmUKA58Adh31" title="Deferred government grants">1.4</span> million for the six months ended June 30, 2025 and 2026 being the unamortized portion of a grant of <span id="xdx_906_ecustom--UnamortizedPortionOfDeferredGovernmentGrants_iI_dxL_c20250630_zYj2NzNFALlf" title="Unamortized portion of deferred government grants::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0745">nil</span></span> and <span id="xdx_908_ecustom--UnamortizedPortionOfDeferredGovernmentGrants_iI_dxL_c20260630_z2M4WRCkQxgg" title="Unamortized portion of deferred government grants::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0747">nil</span></span> the Group received in the six months ended June 30, 2025 and 2026, respectively, for long-term operation. As of December 31, 2025 and June 30, 2026, the Group has not fulfilled the conditions attached to the government grants. As the Group does not expect to fulfill the conditions within one year, the grant is recorded as a non-current deferred revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--LesseeLeasesPolicyTextBlock_zpXx1z0vGsk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>m) <span id="xdx_869_zwKLwoHZqfo2">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Group has operating leases for office buildings and has no finance leases as of December 31, 2025 and June 30, 2026. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the lease payments over the lease term at commencement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Group’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at the commencement date, to determine the present value of lease payments. The incremental borrowing rate approximates the rate the Group would pay to borrow in the currency of the lease payments for the weighted-average life of the lease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The operating lease ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives and initial direct costs incurred if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s lease agreements contain both lease and non-lease components, which are accounted for separately based on their relative standalone price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elect to utilize the short-term lease recognition exemption and, for those leases that qualified, the Group did not recognize operating lease right-of-use (“ROU”) assets or operating lease liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zqVHso4QAmi4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n) <span id="xdx_86C_zZlthNiANve2">Share-based compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share based compensation expenses arise from share-based awards, including share options for the purchase of ordinary shares and restricted shares. For share options for the purchase of ordinary shares granted to employee and non-employee determined to be equity classified awards, the related share-based compensation expenses are recognized in the unaudited interim condensed consolidated statements of operations and comprehensive loss based on their grant date fair values which are calculated using the binomial option pricing model. The determination of the fair value is affected by the fair value of ordinary shares as well as assumptions regarding a number of complex and subjective variables, including the expected volatility of the fair value of ordinary shares, actual and projected employee share option exercise behavior, risk-free interest rate and expected dividends. The fair value of the ordinary shares is assessed using the income approach, with a discount for lack of marketability, given that the shares underlying the awards were not publicly traded at the time of grant. Share-based compensation expenses are recorded net of estimated forfeitures using straight-line method during the service period requirement, such that expenses are recorded only for those share-based awards that are expected to ultimately vest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_zQn7IVNEqIoh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>o) <span id="xdx_86A_zdkIkuPEKel7">Taxation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Income taxes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current income taxes are provided on the basis of income/(loss) for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and any tax loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or tax laws is recognized in the unaudited interim condensed consolidated statements of operations and comprehensive loss in the period the change in tax rates or tax laws is enacted. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion or all of the deferred tax assets will not be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Uncertain tax positions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxSettlementsForeign_pid_dp_uPure_c20260101__20260630_zAWlhhZJgPt6" title="Effective income tax rate">50</span>% likely of being realized upon settlement. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its unaudited interim condensed consolidated balance sheet and under other expenses in its unaudited interim condensed consolidated statements of operations and comprehensive loss. The Group did not have any significant unrecognized uncertain tax positions as of and for the year ended December 31, 2025, and as of and for the six months period ended June 30, 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_ecustom--RelatedPartiesPolicyTextBlock_za0MJBxURA6f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>p) <span id="xdx_863_zlOd91BnIpEf">Related parties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--EarningsPerSharePolicyTextBlock_zSuYl8wrYEc1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>q) <span id="xdx_865_zXfvjseIF8Je">Net loss per share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net loss per share is computed in accordance with ASC 260, Earnings per Share. The two-class method is used for computing earnings per share in the event the Group has net income available for distribution. Under the two-class method, net income is allocated between ordinary shares and participating securities based on dividends declared (or accumulated) and participating rights in undistributed earnings as if all the earnings for the reporting period had been distributed. For the periods presented herein, the computation of basic loss per share using the two-class method is not applicable as the Group is in a net loss position and net loss is not allocated to other participating securities because in accordance with their contractual terms they are not obligated to share in the losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under treasury stock method. Potential ordinary shares include options to purchase ordinary shares and preferred shares, unless they were anti-dilutive. The computation of diluted net loss per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net loss per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_z7imy7d22iv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>r) <span id="xdx_867_zavYtIP2Ku64">Comprehensive loss</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive loss is defined to include all changes in deficit of the Group during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Other comprehensive loss, as presented on the unaudited interim condensed consolidated balance sheets, consists of accumulated foreign currency translation adjustments and fair value changes of amounts due to related party due to own credit risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zRLySsy9F6B3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>s) <span id="xdx_867_zyYMz6zUCux1">Segment reporting</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses the management approach in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making operating decisions, allocating resources and assessing performance as the source for determining the Group’s reportable segments. Management has determined that the Group operates in one segment, as that term is defined by FASB ASC Topic 280, Segment reporting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zbIbrfiG9hdd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>t) <span id="xdx_869_zhjUSUMb8YPf">Recently issued accounting pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently adopted accounting pronouncements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 33pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. ASU No. 2025-05 provides a practical expedient that permits an entity to assume that current economic conditions as of the balance sheet date do not change for the remaining life of the asset. Further, the ASU allows an entity, other than a public business entity, that elects the practical expedient to make an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses. ASU 2025-05 is effective for the Company for annual periods beginning after December 15, 2025. The ASU is applied prospectively and early adoption is permitted. The Group adopted the new standard beginning January 1, 2026 and the impact of adopting the new standard was not material to its unaudited interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recent accounting pronouncements not yet adopted</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, “Income Statement (Topic 220)—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)”. ASU 2024-03 requires publicly-traded business entities to disclose specified information about the components of certain costs and expenses that are currently disclosed in the financial statements. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Group is currently evaluating the potential impact this standard will have on its related disclosures to the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11 “Interim Reporting (Topic 270): Narrow Scope Improvements (“ASU 2025-11”), to improve the guidance for interim reporting and clarify when that guidance is applicable. The ASU 2025-11 provides a comprehensive list of required disclosures and also requires entities to disclose events since the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted. The Group is currently evaluating ASU 2025-11 to determine its impact on the Company’s unaudited interim condensed consolidated financial statements.</span></p> <p id="xdx_859_zPouuPSZg7th" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zPOmmwCmbRF6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a) <span id="xdx_86C_zywIzumUUmIi">Basis of presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted consistent with Article 10 of Regulation S-X.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2026 and the results of its operations and its cash flows for the six months ended June 30, 2025 and 2026. The results for the six months ended June 30, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods, or any future year or period. These unaudited interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements as of and for the year ended December 31, 2025 and notes thereto also included herein.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant accounting policies followed by the Group in the preparation of the accompanying unaudited interim condensed consolidated financial statements as of and for the six months ended June 30, 2026 and 2025 are summarized below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--ConsolidationPolicyTextBlock_zCKeGbIwibnh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b) <span id="xdx_86B_zeBR4RP8kxZa">Principles of consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited interim condensed consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and subsidiaries of VIE for which the Company is the primary beneficiary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of the board of directors, or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A consolidated VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, has the power to direct the activities that most significantly impact the entity’s economic performance, bears the risks of and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All transactions and balances among the Company, its subsidiaries, VIE and subsidiaries of VIE have been eliminated upon consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 33pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--UseOfEstimates_zgmqns3tokY9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c) <span id="xdx_86E_zUJhZPj22dGg">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Group’s unaudited interim condensed consolidated financial statements in conformity with the U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the balance sheet date and reported revenues and expenses during the reported periods in the unaudited interim condensed consolidated financial statements and accompanying notes. Significant accounting estimates include, but are not limited to, provision of current expected credit losses of receivables, the impairment of goodwill, fair value of amounts due to related party and warrant, as well as the valuation and recognition of share-based compensation expenses. Actual results could differ from those estimates, and as such, differences may be material to the unaudited interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zkWuDh5fJLV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>d) <span id="xdx_862_zyLaEYu5EdOc">Functional currency and foreign currency translation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands and Hong Kong is United States dollars (“US$”). The functional currency of the Group’s PRC entities is RMB.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the unaudited interim condensed consolidated financial statements, the financial information of the Company and other entities located outside of the PRC have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, and expenses, gains and losses are translated using the average rate for the period. Translation adjustments are reported as foreign currency translation adjustments, and are shown as a component of other comprehensive loss in the unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in foreign exchange (losses)/gains in the unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_840_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zt0utKHYQTqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>e) <span id="xdx_861_zM0Gm5d4a4e">Fair value measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s financial instruments include cash and cash equivalents, restricted cash, short-term investments, accounts receivable, other receivables (included in “prepayments and other current assets”), accounts payable, short-term borrowings, contract liabilities and other payables (included in “accrued expenses and other current liabilities”), of which the carrying values approximate their fair value. Lease liabilities are measured at amortized cost using discounted rates reflected time value of money.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z7cLoHxShZ1c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>f) <span id="xdx_869_z8GEM5jeCNE3">Cash, cash equivalents and restricted cash</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents mainly represent cash on hand, demand deposits placed with large reputable banks in China, and highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase with terms of three months or less. As of December 31, 2025 and June 30, 2026, there were cash at bank denominated in US dollars amounting to approximately US$<span id="xdx_903_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uUSD_c20251231_znmoIxnefNf3" title="Cash at bank">9.5</span> million (RMB<span id="xdx_90E_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uRMB_c20251231_z6bnFkfeZG6g" title="Cash at bank">66.8</span> million) and US$<span id="xdx_90B_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uUSD_c20260630_znv3EWV0yXZb" title="Cash at bank">4.4</span> million (RMB<span id="xdx_906_eus-gaap--CashAndDueFromBanks_iI_pn5n6_uRMB_c20260630_zHg1BIXNO2Yb" title="Cash at bank">30.2</span> million), respectively, and denominated in RMB amounting to approximately RMB<span id="xdx_907_ecustom--CastAtBankDenominate_iI_pn5n6_c20251231_zdB8bTrNBkT5" title="Cash at bank denominate">77.7</span> million and RMB<span id="xdx_908_ecustom--CastAtBankDenominate_iI_pn5n6_uRMB_c20260630_z6TXbs3bvzSf">101.5</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and June 30, 2026, the Group had approximately RMB<span id="xdx_904_eus-gaap--RestrictedCashAndCashEquivalents_iI_pn5n6_uRMB_c20251231_zQHR0NFJbXAg" title="Cash and cash equivalents">87.6</span> million and RMB<span id="xdx_90F_eus-gaap--RestrictedCashAndCashEquivalents_iI_pn5n6_uRMB_c20260630_ztnqvHWTXFy4" title="Cash and cash equivalents">111.2</span> million, cash and cash equivalents held by its PRC subsidiaries and VIE, representing <span id="xdx_90E_eus-gaap--DerivativeVariableInterestRate_iI_pid_dp_uPure_c20251231_z2ELhzDnKJQh" title="Variable interest entity">60.6</span>% and <span id="xdx_904_eus-gaap--DerivativeVariableInterestRate_iI_pid_dp_uPure_c20260630_zKgLQFEb64M1" title="Variable interest entity">84.4</span>% of total cash and cash equivalents of the Group, respectively. As of December 31, 2025 and June 30, 2026, the Group had RMB<span id="xdx_90B_eus-gaap--RestrictedCash_iI_pn5n6_uRMB_c20251231_zBqzQ85q668f" title="Restricted cash">26.1</span> million and RMB<span id="xdx_90A_eus-gaap--RestrictedCash_iI_pn5n6_uRMB_c20260630_zACqcfpMnhS6" title="Restricted cash">41.8</span> million restricted cash, respectively. Restricted cash primarily represents cash deposits in a regulatory escrow account related to insurance transaction services and a USD<span id="xdx_900_eus-gaap--EscrowDeposit_iI_pn6n6_c20260630_ztjk6k5ek1mg" title="Escrow deposits">3</span> million deposit was pledged to Bank of Beijing as collateral for a borrowing with a credit line amount of RMB<span id="xdx_908_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_pn6n6_uRMB_c20260630_zcFdG5YnFwd9" title="Borrowing with a credit line">20</span> million and a USD<span id="xdx_904_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_pn5n6_uUSD_c20260630_zZzid888tOh8" title="Borrowing with a credit line">2.4</span> million deposit was pledged to China Minsheng Bank as collateral for a RMB<span id="xdx_907_eus-gaap--CashCollateralForBorrowedSecurities_iI_pn6n6_uRMB_c20260630_zpDn5BszsKnl" title="bank collateral borrowed">15</span> million borrowed by Baodafang Technology Co., Ltd. (“Baodafang”), a wholly owned subsidiary of the Company, from the bank. Restricted cash is classified into current and non-current assets based on the maturities of term deposits. The Group had no other lien arrangements for the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 9500000 66800000 4400000 30200000 77700000 101500000 87600000 111200000 0.606 0.844 26100000 41800000 3000000 20000000 2400000 15000000 <p id="xdx_84D_eus-gaap--AllowanceForCreditLossesTextBlock_zBTif1ihqnZ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>g) <span id="xdx_86B_z4ORNncHU5xg">Expected credit losses of receivables</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s accounts receivable and other receivables (included in “prepayments and other current assets”) are within the scope of Accounting Standards Codification (“ASC”) 326. To estimate current expected credit losses, the Group has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include size, type of the services the Group provides, or a combination of these characteristics.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the past collection experience, any changes in customer collection trends, the credit worthiness of customers, the contractual and customary payment terms that generally range from 30 to 180 days, current economic conditions, and expectation of future economic conditions (external data and macroeconomic factors). Accounts receivable balances are written off (i.e., charged-off against the allowance) when they are determined to be uncollectible after all means of collection have been exhausted and the potential for recovery is considered remote.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable is recorded at the invoiced amount and do not bear interest. As of December 31, 2025 and June 30, 2026, the Group’s accounts receivable consists primarily of receivables from insurance transaction services customers. The Group recorded current expected credit loss expense of <span id="xdx_904_eus-gaap--ProvisionForDoubtfulAccounts_dxL_c20250101__20250630_zflDG2rmXuGk" title="Provision of allowance for current expected credit losses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0719">nil</span></span> and RMB<span id="xdx_90A_eus-gaap--ProvisionForDoubtfulAccounts_pn5n6_uRMB_c20260101__20260630_z663PX2OZA07" title="Provision of allowance for current expected credit losses">34.1</span> million for the six months period ended June 30, 2025 and 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> 34100000 <p id="xdx_84E_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zktEx2hhr2Na" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>h) <span id="xdx_86B_zt8DlRiFGvAl">Impairment of long-lived assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-lived assets or asset group, including intangible assets with finite lives, are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. No impairment charge was recognized for any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--WarrantPolicyTextBlock_z64qrtbumBdd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>i) <span id="xdx_862_zDLyOG2WAtHh">Warrant</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is assessed at the end of each reporting period. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the warrants instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zOIQcLfX8Yd5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j) <span id="xdx_86E_zatMB8oLyJDd">Revenue recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is the transaction price the Group expects to be entitled to in exchange for the promised services in a contract in the common course of the Group’s activities and is recorded net of value-added tax (“VAT”). The services to be accounted for mainly include insurance transaction services, SaaS and technical service and other services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 1: Identify the contract(s) with a customer</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 2: Identify the performance obligations in the contract</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 3: Determine the transaction price</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 4: Allocate the transaction price to the performance obligations in the contract</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Insurance Transaction Services Income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The main source of revenue is insurance transaction services fee directly from (i) insurance carriers who underwrite insurance policies and (ii) insurance intermediaries who directly transact with insurance carriers, both determined based on a percentage of premium paid by the insured. The service fee rate paid by the insurance carriers or insurance intermediaries, shall be based on the terms specified in the service contract with the insurance carriers or with the insurance intermediaries for each insurance policy sold through the Group’s online platform and mobile applications in the PRC. The Group determines that the insurance carrier or insurance intermediary, are its customer in these agreements. Insurance transaction services revenue for the commission earned is recognized at a point in time when the Company has fulfilled its performance obligation. This occurs when the signed insurance policy is in place and the premium is collected by the insurance carriers from the insured.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j) Revenue recognition (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SaaS and technical service income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group provides SaaS services to selected insurance carriers or insurance intermediaries. This cloud-based services allow insurance carriers or insurance intermediaries to use the Group’s self-developed SaaS management system without taking possession of its software. The Group has determined that the insurance carriers or insurance intermediaries as customers and initially records services fee as contract liabilities upon receipt and then recognizes the revenue on a straight-line basis over the service period, which is usually one year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group also provides technical service to third-party companies. The Group charges third-party companies service fee for developing software for them. Technical service revenue is recognized based on cost-to-cost input method of measuring progress upon the completion of each service.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other Services</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group provides automotive after-sales service to third-party companies or individual consumers. The Group satisfies its performance obligation through delivering automotive after-sales service and receives service fee from the third-party companies and individual consumers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Contract Balances and Accounts Receivable</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contract liabilities primarily consist of customer advances which relates to the payments received for SaaS and technical service in advance of performance under the contract. The increase in contract liabilities over the periods presented was a result of the increase in consideration received from the Group’s customers, which was in line with the growth of revenues in SaaS and technical service. Due to the generally short-term duration of the relevant contracts, the majority of the performance obligations are satisfied within one year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 and 2026, the Group recognized revenue amounted to RMB<span id="xdx_909_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn5n6_uRMB_c20250101__20250630_zNpUfFJMHihl" title="Revenue">0.9</span> million and RMB<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn5n6_uRMB_c20260101__20260630_z5eUwo04Mbnb" title="Revenue">0.6</span> million, respectively that was included in the corresponding opening contract liabilities balance of RMB<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn5n6_uRMB_c20241231_z5D1QY3mpZ7l" title="Contract liabilities balance">1.8</span> million and RMB<span id="xdx_901_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn5n6_uRMB_c20251231_zljkVyskLeCc" title="Contract liabilities balance">1.0</span> million as of December 31, 2024 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 and 2026, the Group did not have any arrangement where the performance obligations has already been satisfied in the past year but recognized the corresponding revenue in the current period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable mainly represent amounts due from insurance transaction services customers, when the Group has satisfied its performance obligations and has the unconditional right to payment. They are carried at net realizable value. Please see Note 3 for additional information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Practical Expedients</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has elected to use the following practical expedients as allowed under ASC Topic 606:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) Payment terms and conditions vary by contract type, although terms generally include a requirement of prepayment or payment within one year or less. The Group has determined that its contracts generally do not include a significant financing component.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) Costs to obtain a contract with a customer were expensed as incurred when the amortization period would have been one year or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 900000 600000 1800000 1000000.0 <p id="xdx_845_ecustom--SellingAndMarketingExpensesPolicyTextBlock_zmZ776lQ55Eh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>k) <span id="xdx_867_z9psKrXufpBc">Selling and marketing expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling and marketing expenses consist primarily of advertising and promotional expenses, salary and welfare benefits, share-based compensation expenses to the Group’s sales and marketing personnel, and amortization expenses. Advertising and promotional expenses consist primarily of costs for the promotion of corporate image, online platform and mobile applications. The Group expenses all advertising and promotional expenses as incurred and classifies them under selling and marketing expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--GovernmentGrantsPolicyTextBlock_zK7rOn8VIdGl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>l) <span id="xdx_869_zn09hCoVzcDj">Government grants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Government grants mainly represent subsidies and tax refunds for operating a business in certain jurisdictions and fulfilment of specified tax payment obligations. Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred government grants included RMB<span id="xdx_90F_eus-gaap--GrantsReceivable_iI_pn5n6_uRMB_c20250630_znB2WrIc5wU8" title="Deferred government grants">1.4</span> million and RMB<span id="xdx_904_eus-gaap--GrantsReceivable_iI_pn5n6_uRMB_c20260630_zmUKA58Adh31" title="Deferred government grants">1.4</span> million for the six months ended June 30, 2025 and 2026 being the unamortized portion of a grant of <span id="xdx_906_ecustom--UnamortizedPortionOfDeferredGovernmentGrants_iI_dxL_c20250630_zYj2NzNFALlf" title="Unamortized portion of deferred government grants::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0745">nil</span></span> and <span id="xdx_908_ecustom--UnamortizedPortionOfDeferredGovernmentGrants_iI_dxL_c20260630_z2M4WRCkQxgg" title="Unamortized portion of deferred government grants::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0747">nil</span></span> the Group received in the six months ended June 30, 2025 and 2026, respectively, for long-term operation. As of December 31, 2025 and June 30, 2026, the Group has not fulfilled the conditions attached to the government grants. As the Group does not expect to fulfill the conditions within one year, the grant is recorded as a non-current deferred revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1400000 1400000 <p id="xdx_842_eus-gaap--LesseeLeasesPolicyTextBlock_zpXx1z0vGsk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>m) <span id="xdx_869_zwKLwoHZqfo2">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Group has operating leases for office buildings and has no finance leases as of December 31, 2025 and June 30, 2026. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the lease payments over the lease term at commencement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Group’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at the commencement date, to determine the present value of lease payments. The incremental borrowing rate approximates the rate the Group would pay to borrow in the currency of the lease payments for the weighted-average life of the lease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The operating lease ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives and initial direct costs incurred if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s lease agreements contain both lease and non-lease components, which are accounted for separately based on their relative standalone price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elect to utilize the short-term lease recognition exemption and, for those leases that qualified, the Group did not recognize operating lease right-of-use (“ROU”) assets or operating lease liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zqVHso4QAmi4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n) <span id="xdx_86C_zZlthNiANve2">Share-based compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share based compensation expenses arise from share-based awards, including share options for the purchase of ordinary shares and restricted shares. For share options for the purchase of ordinary shares granted to employee and non-employee determined to be equity classified awards, the related share-based compensation expenses are recognized in the unaudited interim condensed consolidated statements of operations and comprehensive loss based on their grant date fair values which are calculated using the binomial option pricing model. The determination of the fair value is affected by the fair value of ordinary shares as well as assumptions regarding a number of complex and subjective variables, including the expected volatility of the fair value of ordinary shares, actual and projected employee share option exercise behavior, risk-free interest rate and expected dividends. The fair value of the ordinary shares is assessed using the income approach, with a discount for lack of marketability, given that the shares underlying the awards were not publicly traded at the time of grant. Share-based compensation expenses are recorded net of estimated forfeitures using straight-line method during the service period requirement, such that expenses are recorded only for those share-based awards that are expected to ultimately vest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_zQn7IVNEqIoh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>o) <span id="xdx_86A_zdkIkuPEKel7">Taxation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Income taxes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current income taxes are provided on the basis of income/(loss) for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and any tax loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or tax laws is recognized in the unaudited interim condensed consolidated statements of operations and comprehensive loss in the period the change in tax rates or tax laws is enacted. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion or all of the deferred tax assets will not be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Uncertain tax positions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxSettlementsForeign_pid_dp_uPure_c20260101__20260630_zAWlhhZJgPt6" title="Effective income tax rate">50</span>% likely of being realized upon settlement. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its unaudited interim condensed consolidated balance sheet and under other expenses in its unaudited interim condensed consolidated statements of operations and comprehensive loss. The Group did not have any significant unrecognized uncertain tax positions as of and for the year ended December 31, 2025, and as of and for the six months period ended June 30, 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> 0.50 <p id="xdx_847_ecustom--RelatedPartiesPolicyTextBlock_za0MJBxURA6f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>p) <span id="xdx_863_zlOd91BnIpEf">Related parties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--EarningsPerSharePolicyTextBlock_zSuYl8wrYEc1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>q) <span id="xdx_865_zXfvjseIF8Je">Net loss per share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net loss per share is computed in accordance with ASC 260, Earnings per Share. The two-class method is used for computing earnings per share in the event the Group has net income available for distribution. Under the two-class method, net income is allocated between ordinary shares and participating securities based on dividends declared (or accumulated) and participating rights in undistributed earnings as if all the earnings for the reporting period had been distributed. For the periods presented herein, the computation of basic loss per share using the two-class method is not applicable as the Group is in a net loss position and net loss is not allocated to other participating securities because in accordance with their contractual terms they are not obligated to share in the losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under treasury stock method. Potential ordinary shares include options to purchase ordinary shares and preferred shares, unless they were anti-dilutive. The computation of diluted net loss per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net loss per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_z7imy7d22iv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>r) <span id="xdx_867_zavYtIP2Ku64">Comprehensive loss</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive loss is defined to include all changes in deficit of the Group during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Other comprehensive loss, as presented on the unaudited interim condensed consolidated balance sheets, consists of accumulated foreign currency translation adjustments and fair value changes of amounts due to related party due to own credit risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zRLySsy9F6B3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>s) <span id="xdx_867_zyYMz6zUCux1">Segment reporting</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses the management approach in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making operating decisions, allocating resources and assessing performance as the source for determining the Group’s reportable segments. Management has determined that the Group operates in one segment, as that term is defined by FASB ASC Topic 280, Segment reporting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.Significant Accounting Policies (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zbIbrfiG9hdd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>t) <span id="xdx_869_zhjUSUMb8YPf">Recently issued accounting pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently adopted accounting pronouncements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 33pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. ASU No. 2025-05 provides a practical expedient that permits an entity to assume that current economic conditions as of the balance sheet date do not change for the remaining life of the asset. Further, the ASU allows an entity, other than a public business entity, that elects the practical expedient to make an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses. ASU 2025-05 is effective for the Company for annual periods beginning after December 15, 2025. The ASU is applied prospectively and early adoption is permitted. The Group adopted the new standard beginning January 1, 2026 and the impact of adopting the new standard was not material to its unaudited interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recent accounting pronouncements not yet adopted</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, “Income Statement (Topic 220)—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)”. ASU 2024-03 requires publicly-traded business entities to disclose specified information about the components of certain costs and expenses that are currently disclosed in the financial statements. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Group is currently evaluating the potential impact this standard will have on its related disclosures to the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11 “Interim Reporting (Topic 270): Narrow Scope Improvements (“ASU 2025-11”), to improve the guidance for interim reporting and clarify when that guidance is applicable. The ASU 2025-11 provides a comprehensive list of required disclosures and also requires entities to disclose events since the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted. The Group is currently evaluating ASU 2025-11 to determine its impact on the Company’s unaudited interim condensed consolidated financial statements.</span></p> <p id="xdx_802_eus-gaap--AccountsAndNontradeReceivableTextBlock_zJNCZqeveeT5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_824_zMPjaqD0oLtf">Accounts receivable, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zTrZnyRwQI76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, net consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">        <span id="xdx_8B7_zwuQWu272rjb">Schedule of Accounts Receivable, Net</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20251231_zSDXLatEOVN3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20260630_z7bkJNKrv4Ij" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RMB</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RMB</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableGross_iI_pn3n3_maARNCzIKS_zLp9ttreedR9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, gross:</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,149,968</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">704,273</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pn3n3_di_msARNCzIKS_zEO54df5Da53" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: allowance for current expected credit losses</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,216</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(38,342</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableNetCurrent_iTI_pn3n3_mtARNCzIKS_z4fbbrhGZao7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, net</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,145,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">665,931</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p id="xdx_8AF_ziJ3ov6lXiY1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_zTyH6RUKewO1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the movement of the Group’s allowance for current expected credit losses:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">          <span id="xdx_8B7_z9HZZ1xHTHug">Schedule of Allowance for Current Expected Credit Losses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; text-align: left">Balance at the beginning of the period</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNS_pn3n3_di_c20250101__20250630_z4MkoqNIB1d2" style="width: 16%; font-weight: bold; text-align: right" title="Balance at the beginning of the period">(5,434</td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNS_pn3n3_di_c20260101__20260630_zAJbEUntokUl" style="width: 16%; font-weight: bold; text-align: right" title="Balance at the beginning of the period">(4,216</td><td style="width: 1%; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_pn3n3_c20250101__20250630_zV5y5QLsOhe" style="text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl0786">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_pn3n3_c20260101__20260630_z0CWJPxjaOgh" style="text-align: right" title="Additions">(34,126</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_pn3n3_c20250101__20250630_zSXKZME94JSa" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs"><span style="-sec-ix-hidden: xdx2ixbrl0790">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_pn3n3_c20260101__20260630_zFmzvlubltph" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs"><span style="-sec-ix-hidden: xdx2ixbrl0792">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Balance at the end of the period</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNE_pn3n3_di_c20250101__20250630_zyHDnrL6dgrd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance at the end of the period">(5,434</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNE_pn3n3_di_c20260101__20260630_zXdnOdsDiR0h" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance at the end of the period">(38,342</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8AA_zyxC4wHVshw3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zTrZnyRwQI76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, net consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">        <span id="xdx_8B7_zwuQWu272rjb">Schedule of Accounts Receivable, Net</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20251231_zSDXLatEOVN3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20260630_z7bkJNKrv4Ij" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RMB</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RMB</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableGross_iI_pn3n3_maARNCzIKS_zLp9ttreedR9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, gross:</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,149,968</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">704,273</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pn3n3_di_msARNCzIKS_zEO54df5Da53" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: allowance for current expected credit losses</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,216</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(38,342</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableNetCurrent_iTI_pn3n3_mtARNCzIKS_z4fbbrhGZao7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable, net</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,145,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">665,931</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 1149968000 704273000 4216000 38342000 1145752000 665931000 <p id="xdx_89C_eus-gaap--AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_zTyH6RUKewO1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the movement of the Group’s allowance for current expected credit losses:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">          <span id="xdx_8B7_z9HZZ1xHTHug">Schedule of Allowance for Current Expected Credit Losses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; text-align: left">Balance at the beginning of the period</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNS_pn3n3_di_c20250101__20250630_z4MkoqNIB1d2" style="width: 16%; font-weight: bold; text-align: right" title="Balance at the beginning of the period">(5,434</td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNS_pn3n3_di_c20260101__20260630_zAJbEUntokUl" style="width: 16%; font-weight: bold; text-align: right" title="Balance at the beginning of the period">(4,216</td><td style="width: 1%; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_pn3n3_c20250101__20250630_zV5y5QLsOhe" style="text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl0786">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_pn3n3_c20260101__20260630_z0CWJPxjaOgh" style="text-align: right" title="Additions">(34,126</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_pn3n3_c20250101__20250630_zSXKZME94JSa" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs"><span style="-sec-ix-hidden: xdx2ixbrl0790">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_pn3n3_c20260101__20260630_zFmzvlubltph" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs"><span style="-sec-ix-hidden: xdx2ixbrl0792">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Balance at the end of the period</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNE_pn3n3_di_c20250101__20250630_zyHDnrL6dgrd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance at the end of the period">(5,434</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNE_pn3n3_di_c20260101__20260630_zXdnOdsDiR0h" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance at the end of the period">(38,342</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> 5434000 4216000 -34126000 5434000 38342000 <p id="xdx_800_eus-gaap--OtherCurrentAssetsTextBlock_zTaHN5IME0c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_823_zJcezGaUAIA2">Prepayments and other current assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zfSMm2Saanpg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of prepayments and other current assets:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">         <span id="xdx_8B1_zyjBeea4KAu9">Schedule of Prepayments and Other Current Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20251231_zPsADcRPkqu2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_zAdfI35nB3X8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pn3n3_maPEAOAzSMU_z6jOHSIXbss1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Deductible Value Added Tax (“VAT”)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">23,135</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">31,094</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PrepaidStaffAdvance_iI_pn3n3_maPEAOAzSMU_zp2xXHtVddSe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Staff advance <span id="xdx_F40_z8RW0aqYYJI">(i)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,452</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ServiceFees_iI_pn3n3_maPEAOAzSMU_zthSI2fyYQz9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Service fees <span id="xdx_F40_zHR3LD0CZQX7">(ii)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidRent_iI_pn3n3_maPEAOAzSMU_zdCbrsrd4GFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Rental and other deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maPEAOAzSMU_zbQkgpuQG7u" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,714</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,708</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzSMU_zPZ2c6kopGDd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Balance at the end of the year</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">60,059</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">64,256</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F00_zvjgEmXwwLN6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zXFCoQDZkdg7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Staff advances mainly consist of business expenses advanced to employees.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F0C_zUwjrCYKHgRl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_ztaZLg3bETmd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service fees mainly consist of prepayment of cloud server hosting fees, directors and officers’ insurance fees and others.</span></td></tr> </table> <p id="xdx_8AB_zpm3sZWTQwOb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zfSMm2Saanpg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of prepayments and other current assets:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">         <span id="xdx_8B1_zyjBeea4KAu9">Schedule of Prepayments and Other Current Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20251231_zPsADcRPkqu2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_zAdfI35nB3X8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pn3n3_maPEAOAzSMU_z6jOHSIXbss1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Deductible Value Added Tax (“VAT”)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">23,135</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">31,094</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PrepaidStaffAdvance_iI_pn3n3_maPEAOAzSMU_zp2xXHtVddSe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Staff advance <span id="xdx_F40_z8RW0aqYYJI">(i)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,452</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ServiceFees_iI_pn3n3_maPEAOAzSMU_zthSI2fyYQz9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Service fees <span id="xdx_F40_zHR3LD0CZQX7">(ii)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidRent_iI_pn3n3_maPEAOAzSMU_zdCbrsrd4GFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Rental and other deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maPEAOAzSMU_zbQkgpuQG7u" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,714</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,708</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzSMU_zPZ2c6kopGDd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Balance at the end of the year</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">60,059</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">64,256</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F00_zvjgEmXwwLN6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zXFCoQDZkdg7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Staff advances mainly consist of business expenses advanced to employees.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F0C_zUwjrCYKHgRl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_ztaZLg3bETmd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service fees mainly consist of prepayment of cloud server hosting fees, directors and officers’ insurance fees and others.</span></td></tr> </table> 23135000 31094000 15849000 4452000 14781000 23400000 2580000 2602000 3714000 2708000 60059000 64256000 <p id="xdx_802_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zzpTG2tCEgmi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5. <span id="xdx_82E_zX8JmdXR9Fl2">Property, equipment and leasehold improvement, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--PropertyPlantAndEquipmentTextBlock_z5eLcuVqgwUk" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of property, equipment and leasehold improvement, net:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">          <span id="xdx_8B6_zcyJlJGszw5k">Schedule of Property, Equipment and Leasehold Improvement, Net</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251231_zfsjepxbNhn4" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260630_zhlQsHhUVOE9" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zUOcCZde26Bj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Leasehold improvement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,740</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,964</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_uRMB_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdcxwV3dWxRi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,100</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zH4MkGtSAoId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Electronic equipment and others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,680</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_uRMB_maPPAENzLMN_zGliBx4xina4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Total property, equipment and leasehold improvement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8,714</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8,744</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzLMN_zGBiZfs8z7Fj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,883</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,851</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzLMN_zAXLr0BwH1fh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Property, equipment and leasehold improvement, net</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">831</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">893</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zGkFzOcIWP7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expenses were RMB<span id="xdx_90E_eus-gaap--Depreciation_pn5n6_c20250101__20250630_zE2CqGBAXAH8" title="Depreciation expenses">0.3</span> million and RMB<span id="xdx_906_eus-gaap--Depreciation_pn5n6_c20260101__20260630_zkuzOZzMEUVj" title="Depreciation expenses">0.2</span> million for the six months ended June 30, 2025 and 2026, respectively. No impairment charge was recognized for any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--PropertyPlantAndEquipmentTextBlock_z5eLcuVqgwUk" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of property, equipment and leasehold improvement, net:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">          <span id="xdx_8B6_zcyJlJGszw5k">Schedule of Property, Equipment and Leasehold Improvement, Net</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251231_zfsjepxbNhn4" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260630_zhlQsHhUVOE9" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zUOcCZde26Bj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Leasehold improvement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,740</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,964</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_uRMB_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdcxwV3dWxRi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,100</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zH4MkGtSAoId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Electronic equipment and others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,680</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_uRMB_maPPAENzLMN_zGliBx4xina4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Total property, equipment and leasehold improvement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8,714</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8,744</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzLMN_zGBiZfs8z7Fj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,883</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,851</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzLMN_zAXLr0BwH1fh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Property, equipment and leasehold improvement, net</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">831</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">893</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 3740000 3964000 1104000 1100000 3870000 3680000 8714000 8744000 7883000 7851000 831000 893000 300000 200000 <p id="xdx_809_eus-gaap--IntangibleAssetsDisclosureTextBlock_ziSGmv3aucI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. <span id="xdx_82F_zaVvm1TiN8Ce">Intangible assets, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock_zXIHonfqGMl5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Group’s intangible assets, net:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">          <span id="xdx_8B9_zAqzPJDej9jh">Schedule of Intangible Assets, Net</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zvxQxCF9W3Dk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zO7IsyL5vVjl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span id="xdx_91B_ecustom--GrossCarryingAmountAbstract_zbCJAa0QtYLc">Gross carrying amount</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_zE4wz2lgupaa" style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">916</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">916</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zSboQTInmEYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AgencyAgreementsMember_zAcgyGny8Irh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Agency agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zgpii6NQ2in5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Channel relationship</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_i01I_pn3n3_zTDxC7TNTnB4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Total intangible assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsGross_i01I_pn3n3_zYgf12GLdlua" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Gross carrying amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"><span id="xdx_914_ecustom--LessAccumulatedAmortizationAbstract_zzMvgdWaRWp2">Less: accumulated amortization</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_z2Ug7Kf4GAU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_z48NhB73waSb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none"><span style="display: none; font-family: Times New Roman, Times, Serif"><span id="xdx_911_eus-gaap--SoftwareDevelopmentMember_zDD0iriHb1Zd" style="display: none">Software [Member]</span></span></td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">(916</td><td style="display: none; text-align: left">)</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">(916</td><td style="display: none; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zVD0U1pPIaS1" style="vertical-align: bottom; background-color: White"> <td>Licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,150</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zRM663HHqGQ" style="display: none; vertical-align: bottom; background-color: White"> <td>Licenses [Member]</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,150</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AgencyAgreementsMember_zyO95O0OhC3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Agency agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zTu743kbCTH4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Channel relationship</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zk2FQM2hy1k7" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 1pt; text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif"><span id="xdx_917_eus-gaap--SalesChannelDirectlyToConsumerMember_zL171YPwsJwk" style="display: none">Channel Relationship [Member]</span></span></td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: right"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">(19,000</td><td style="display: none; padding-bottom: 1pt; text-align: left">)</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: right"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">(19,000</td><td style="display: none; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zXHfV1FMxExb" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less: accumulated amortization</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_zhumpBntAU19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total intangible assets, net</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,850</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,800</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_z4BuUEjYG9Bl" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expense for the six months ended June 30, 2025 and 2026 were RMB<span id="xdx_90C_eus-gaap--AdjustmentForAmortization_pn5n6_c20250101__20250630_zQUZ72IwXvzf" title="Amortization expense">1.1</span> million and RMB<span id="xdx_904_eus-gaap--AdjustmentForAmortization_pn5n6_c20260101__20260630_zdirmdHMnXL9" title="Amortization expense">1.1</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock_zppQA9eq2kP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated amortization expenses for each of the following periods are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                 <span id="xdx_8B5_z2a2TsD3vwHd">Schedule of Estimated Amortization Expenses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zeZUHHS9DQej" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANz6Xm_z7qU6Oal35N8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 80%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,050</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANz6Xm_zgxURgbgJSN7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,750</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANz6Xm_zKjwVsdNLklb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,800</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zgfCdjOLYA2k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock_zXIHonfqGMl5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Group’s intangible assets, net:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">          <span id="xdx_8B9_zAqzPJDej9jh">Schedule of Intangible Assets, Net</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zvxQxCF9W3Dk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zO7IsyL5vVjl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><span id="xdx_91B_ecustom--GrossCarryingAmountAbstract_zbCJAa0QtYLc">Gross carrying amount</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_zE4wz2lgupaa" style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">916</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">916</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zSboQTInmEYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AgencyAgreementsMember_zAcgyGny8Irh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Agency agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iIP1custom--GrossCarryingAmountAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zgpii6NQ2in5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Channel relationship</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_i01I_pn3n3_zTDxC7TNTnB4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Total intangible assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsGross_i01I_pn3n3_zYgf12GLdlua" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Gross carrying amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">58,916</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"><span id="xdx_914_ecustom--LessAccumulatedAmortizationAbstract_zzMvgdWaRWp2">Less: accumulated amortization</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_z2Ug7Kf4GAU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SoftwareDevelopmentMember_z48NhB73waSb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none"><span style="display: none; font-family: Times New Roman, Times, Serif"><span id="xdx_911_eus-gaap--SoftwareDevelopmentMember_zDD0iriHb1Zd" style="display: none">Software [Member]</span></span></td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">(916</td><td style="display: none; text-align: left">)</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">(916</td><td style="display: none; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zVD0U1pPIaS1" style="vertical-align: bottom; background-color: White"> <td>Licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,150</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zRM663HHqGQ" style="display: none; vertical-align: bottom; background-color: White"> <td>Licenses [Member]</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,150</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,200</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AgencyAgreementsMember_zyO95O0OhC3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Agency agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zTu743kbCTH4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Channel relationship</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zk2FQM2hy1k7" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 1pt; text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif"><span id="xdx_917_eus-gaap--SalesChannelDirectlyToConsumerMember_zL171YPwsJwk" style="display: none">Channel Relationship [Member]</span></span></td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: right"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">(19,000</td><td style="display: none; padding-bottom: 1pt; text-align: left">)</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: right"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">(19,000</td><td style="display: none; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iIP1custom--LessAccumulatedAmortizationAbstract_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--SalesChannelDirectlyToConsumerMember_zXHfV1FMxExb" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less: accumulated amortization</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_zhumpBntAU19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total intangible assets, net</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,850</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,800</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 916000 916000 21000000 21000000 18000000 18000000 19000000 19000000 58916000 58916000 58916000 58916000 -916000 -916000 -916000 -916000 -17150000 -18200000 -17150000 -18200000 -18000000 -18000000 -19000000 -19000000 -19000000 -19000000 -19000000 -19000000 3850000 2800000 1100000 1100000 <p id="xdx_895_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock_zppQA9eq2kP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated amortization expenses for each of the following periods are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                 <span id="xdx_8B5_z2a2TsD3vwHd">Schedule of Estimated Amortization Expenses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zeZUHHS9DQej" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANz6Xm_z7qU6Oal35N8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 80%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,050</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANz6Xm_zgxURgbgJSN7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,750</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANz6Xm_zKjwVsdNLklb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,800</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 1050000 1750000 2800000 <p id="xdx_801_eus-gaap--LesseeOperatingLeasesTextBlock_zjgnBCRDdbzb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. <span id="xdx_82D_zFCEEDCJIbLa">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s lease payments for office space leases include fixed rental payments and do not consist of any variable lease payments that depend on an index or a rate. As of December 31, 2025 and June 30, 2026, there was no leases that have not yet commenced.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_znBvl6aoUp5c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following represents the aggregate right-of-use assets and related lease liabilities as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                <span id="xdx_8BC_zlLIJ7TZcRo3">Schedule of Aggregate Right of Use Assets and Related Lease Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_zqd6Oyg0iEP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260630_zQlnjr4GjSV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zi6QYx2Uo6Kk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 60%; font-weight: bold; text-align: left">Operating lease right-of-use assets</td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; font-weight: bold; text-align: right">6,453</td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; font-weight: bold; text-align: right">5,016</td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_maOLLzBRB_zO6L8i4RNOOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,727</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,510</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiabilityNoncurrent_iNI_pn3n3_di_maOLLzBRB_zZmdPsSlXf05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Long-term operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(801</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(604</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_iNTI_pn3n3_di_mtOLLzBRB_z3xTYgUZhkHd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total operating leased liabilities</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(5,528</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(4,114</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8A9_zfobtIsWPa81" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. Leases (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--OperatingLeaseOfLesseeDisclosureTextBlock_zK58ySEZBYSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average lease term and weighted average discount rate as of December 31, 2025 and June 30, 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">                 </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none"><span id="xdx_8B8_zmk6afDSYsEh">Weighted Average Lease Term and Weighted Average Discount Rate </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zH4e8oXDjPr2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_zAbyMdFpCsGe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average lease term:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zAJgkEG2Be27" title="Weighted average lease term">1.34</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zhfflT4rgH1c" title="Weighted average lease term">1.32</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_zSAL3CEzRGE2" title="Weighted average discount rate">2.96</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260630_zxx6mpN47zl4" title="Weighted average discount rate">2.76</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A8_zl2D8whheYfa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_zPqDhwjgbNdl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expenses for the six months ended June 30, 2025 and 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                 <span id="xdx_8BD_z3p5r9ljKwhe">Schedule of Lease Expenses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zV5vYeumJjI8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zbDhN3PxOF8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzwwN_zrrccupqyYhg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,656</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzwwN_zcH2YAz6Z9Gh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Cost of other leases with period less than one year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">888</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">463</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_iT_pn3n3_mtLCzwwN_z0Z96DFkCtCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,544</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,202</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zdsAmnY9Uss6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zaToBX2ESbud" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases for the six months ended June 30, 2025 and 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">                  <span id="xdx_8B5_z0Mx5zosKWA">Schedule of Supplemental Cash Flow Information Related to Leases</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250101__20250630_z6mReXLgBcT4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zk6koRDPxsNc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_pn3n3_z9N62djzg3Pc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,808</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,332</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Supplemental noncash information:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_zqqjikxewpW" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,129</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RightofuseAssetsReleasedDueToTerminationOfLeaseContracts_iN_pn3n3_di_zQ0zHQlPHV9j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets released due to termination of lease contracts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0958">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(837</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A1_zQamBU9UgKr9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p id="xdx_892_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zEMWHQAQKhh8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">Maturities of lease liabilities at December 31, 2025 and June 30, 2026, respectively:<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                  <span id="xdx_8B6_zF27LudEtkPf">Schedule of Maturities of Lease Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zeMOmwCRP7lb" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260630_zIHxbJdIgyLl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPz5ed_zJJBXb41YdZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">2026/Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,618</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,418</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPz5ed_zMWmwCPnl3Ei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,462</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPz5ed_zJgonxQnfJja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0969">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPz5ed_z9Yf8MgtMlo6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0972">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPz5ed_zmnw2MtQrd9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total remaining undiscounted lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,635</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,181</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zdt3PmQhUm55" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(107</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(67</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_zg2OsImrqOJ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total present value of operating lease liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,528</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,114</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_zAnFv7intrme" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: short-term operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,727</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,510</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iTI_pn3n3_zwCLLjFO3on7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Long-term operating lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">801</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">604</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zNdKG0USpPwb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_znBvl6aoUp5c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following represents the aggregate right-of-use assets and related lease liabilities as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                <span id="xdx_8BC_zlLIJ7TZcRo3">Schedule of Aggregate Right of Use Assets and Related Lease Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_zqd6Oyg0iEP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260630_zQlnjr4GjSV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zi6QYx2Uo6Kk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 60%; font-weight: bold; text-align: left">Operating lease right-of-use assets</td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; font-weight: bold; text-align: right">6,453</td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; font-weight: bold; text-align: right">5,016</td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_maOLLzBRB_zO6L8i4RNOOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,727</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,510</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiabilityNoncurrent_iNI_pn3n3_di_maOLLzBRB_zZmdPsSlXf05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Long-term operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(801</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(604</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_iNTI_pn3n3_di_mtOLLzBRB_z3xTYgUZhkHd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total operating leased liabilities</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(5,528</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(4,114</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> 6453000 5016000 4727000 3510000 801000 604000 5528000 4114000 <p id="xdx_89D_ecustom--OperatingLeaseOfLesseeDisclosureTextBlock_zK58ySEZBYSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average lease term and weighted average discount rate as of December 31, 2025 and June 30, 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">                 </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none"><span id="xdx_8B8_zmk6afDSYsEh">Weighted Average Lease Term and Weighted Average Discount Rate </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zH4e8oXDjPr2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_zAbyMdFpCsGe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average lease term:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zAJgkEG2Be27" title="Weighted average lease term">1.34</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zhfflT4rgH1c" title="Weighted average lease term">1.32</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_zSAL3CEzRGE2" title="Weighted average discount rate">2.96</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260630_zxx6mpN47zl4" title="Weighted average discount rate">2.76</span></td><td style="text-align: left">%</td></tr> </table> P1Y4M2D P1Y3M25D 0.0296 0.0276 <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_zPqDhwjgbNdl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expenses for the six months ended June 30, 2025 and 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                 <span id="xdx_8BD_z3p5r9ljKwhe">Schedule of Lease Expenses</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zV5vYeumJjI8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zbDhN3PxOF8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzwwN_zrrccupqyYhg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,656</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzwwN_zcH2YAz6Z9Gh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Cost of other leases with period less than one year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">888</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">463</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_iT_pn3n3_mtLCzwwN_z0Z96DFkCtCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,544</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,202</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 2656000 2739000 888000 463000 3544000 3202000 <p id="xdx_893_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zaToBX2ESbud" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases for the six months ended June 30, 2025 and 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">                  <span id="xdx_8B5_z0Mx5zosKWA">Schedule of Supplemental Cash Flow Information Related to Leases</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250101__20250630_z6mReXLgBcT4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zk6koRDPxsNc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_pn3n3_z9N62djzg3Pc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,808</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,332</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Supplemental noncash information:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_zqqjikxewpW" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,129</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RightofuseAssetsReleasedDueToTerminationOfLeaseContracts_iN_pn3n3_di_zQ0zHQlPHV9j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets released due to termination of lease contracts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0958">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(837</td><td style="text-align: left">)</td></tr> </table> 2808000 2332000 5139000 2129000 837000 <p id="xdx_892_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zEMWHQAQKhh8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">Maturities of lease liabilities at December 31, 2025 and June 30, 2026, respectively:<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">                  <span id="xdx_8B6_zF27LudEtkPf">Schedule of Maturities of Lease Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zeMOmwCRP7lb" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260630_zIHxbJdIgyLl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPz5ed_zJJBXb41YdZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">2026/Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,618</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,418</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPz5ed_zMWmwCPnl3Ei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,462</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPz5ed_zJgonxQnfJja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0969">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPz5ed_z9Yf8MgtMlo6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0972">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPz5ed_zmnw2MtQrd9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total remaining undiscounted lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,635</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,181</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zdt3PmQhUm55" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(107</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(67</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_zg2OsImrqOJ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total present value of operating lease liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,528</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,114</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_zAnFv7intrme" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: short-term operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,727</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,510</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iTI_pn3n3_zwCLLjFO3on7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Long-term operating lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">801</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">604</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 4618000 2418000 1017000 1462000 293000 8000 5635000 4181000 107000 67000 5528000 4114000 4727000 3510000 801000 604000 <p id="xdx_80D_eus-gaap--ShortTermDebtTextBlock_z3j1q4pxUpa9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8. <span id="xdx_82C_zJQUov6rxtM4">Short-term and long-term borrowings</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfDebtTableTextBlock_zlnzTlvYSu8d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Group’s outstanding short-term and long-term borrowings as of December 31, 2025 and June 30, 2026, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zfMbKKlrJCF3" style="display: none">Schedule of Outstanding Short-term and Long-term Borrowings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zRFAVzDNroMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_zxTY0eZ7Pes5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShortTermBorrowings_iI_maDLASCzYvT_zqhfJ8h4G2Sf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Short-term bank borrowings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">80,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">98,190</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtNoncurrent_iI_maDLASCzYvT_zYkkM7ne5lw6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Long-term bank borrowings</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,800</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0998">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iTI_mtDLASCzYvT_z2o5xwCUUtec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bank borrowings</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">90,300</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">98,190</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zCtHAN9nAFj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bank borrowings comprised of the followings:</i></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfSubordinatedBorrowingTextBlock_zAsg5eZDkZq5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zNTLAtB7LLOi" style="display: none">Schedule of Bank Borrowings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Maturity date</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest rate per annum</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">China Minsheng Bank(i)</td><td style="width: 2%"> </td> <td style="text-align: right; width: 20%"><span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zxqkc5FQ4ool" title="Maturity date">January 14, 2026</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_z8ShhEK5knc8" title="Principal amount">9,900</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zo5tXKHe08Kk" title="Interest rate per annum">2.80</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zC0Q2AwHnUo8" title="Total borrowings">9,900</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zv1fRUsy2PY6" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1013">-</span></span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China Minsheng Bank(i)</td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zS1xhghdlXUe" title="Maturity date">November 3, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zh7JuZQIX9eh" title="Principal amount">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_z2eJ5cwZgekk" title="Interest rate per annum">2.50</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_z8by5GxTSxx4" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zZs8QSOdN6O6" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(ii)</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zbczhMi3jZkj" title="Maturity date">June 5, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zavJgMrjWm0a" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zRp3nsCKmpO8" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">            <span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zTthOD1KJKO2" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zAyBN5S3Wbvc" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1033">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(ii)</td><td> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zuy5vtbjWdFi" title="Maturity date">June 19, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zuZZDQ8t4nl4" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zU2MiqYfLaLf" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____znIqLCuZcf77" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zlGD36sZLt22" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1043">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial Bank(iii)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zRwofqKnXQa1" title="Maturity date">May 29, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zOwd5pZUMFfk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zh5VocjmXmSd" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___z6I3TwlkEkN7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zAKJP1Naw5d4" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1053">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China(iv)</td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zEFgyT0ZWcJ1" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zIVfL2jR6hzb" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zweTYdfBlEYh" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zHGsLXGvicl7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zJBfEynOrHIk" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1063">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China(iv)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zHzENRDCTcc6" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____z4BWMm7BDYNe" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____z6QFnG3TX8A7" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zvUa9NBhEaN8" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zf21wO740KCg" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1073">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China(v)</td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zPfq94NcIPr9" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zypWEKE4jT9h" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_z1m1J1gpcq4h" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zZ1VGsWhMoce" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_za28rsUSaPp8" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1083">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of China(vi)</td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zkQipZAiwy5d" title="Maturity date">June 30, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zeu0qgVvwkE6" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zDDJeP8z1DF8" title="Interest rate per annum">2.15</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zWk9wP61IkOa" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zrL5Uv0zxM5" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1093">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of China(vi)</td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zEtCi2HtMi55" title="Maturity date">April 30,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zlFWScXtAxF5" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____z92R2csrA1c7" title="Interest rate per annum">2.24</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____z7nRFCbinIug" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1101">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zwHGgnQJGLyd" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Shanghai(vii)</td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z4TJVCVK8KA" title="Maturity date">September 8, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___zB1zRZbadPkk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z0adZGh1Robh" title="Interest rate per annum">2.40</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z7H44O7kHrTl" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z6FigkkBCfo3" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Shanghai(viii)</td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_z5YiiMQjHf3c" title="Maturity date">August 28, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zUs8mhuE55Lc" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zA3VinPBdIZ4" title="Interest rate per annum">2.40</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zEL0wrmOUrlh" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zdf7WeGRGHK7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">China CITIC Bank (ix)</td><td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____z6QIDq6yyrO8" title="Maturity date">December 30, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____ziMxQNertmag" title="Principal amount">700</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zywXQpn3NSgl" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zt2X60rrLR7l" title="Total borrowings">700</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zNXxrGefPj59" title="Total borrowings">700</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China CITIC Bank (ix)</td><td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zAeLSBhqAJ69" title="Maturity date">March 23,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zbyolAsVfG6a" title="Principal amount">9,300</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zezfkEEDJ1ef" title="Interest rate per annum">2.50</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zKmLd8ykyryg" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1141">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zvSz7KstHn14" title="Total borrowings">9,300</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_zGsAf6q1Vet" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_ziDq0uszYfQk" title="Principal amount">4,800</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_znWlOV8ou1va" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_z37Ur7uL1nT9" title="Total borrowings">4,800</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_zYT6bnBA2MG6" title="Total borrowings">4,600</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zGOgIG1ul43b" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zzezwC2Gm0p9" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_z9jjfFm6lpDl" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zfFUiyXHr6Le" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zHLuVCZGtHs4" title="Total borrowings">4,800</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zV6pBm6hfrq5" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zi0fKeOYGDFk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zGHZZMCZl9He" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zDgppjpsdv5i" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1171">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zGgEUiheQjI6" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zcJ8t04l2hV" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zfdd78MIKQP8" title="Principal amount">4,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zep4ItRriLBc" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zInNBUHo6EHb" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1181">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zFFl03nmWle9" title="Total borrowings">4,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">China Minsheng Bank(xi)</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zIwXjrHUVs5i" title="Maturity date">April 16,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zFdYMKsJt7s" title="Principal amount">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zbEI72E52yPj" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zcdoyLW8TiS7" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1191">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zzpCRk1wzZak" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China Minsheng Bank(xi)</td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____z6i0dkQkzUr3" title="Maturity date">May 27,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zvYNlw0VYOI1" title="Principal amount">4,990</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zgFuwr0Il1hf" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zxz4cDWRAjdc" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1201">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zRiF5FxfYgV2" title="Total borrowings">4,990</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial Bank(xii)</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z4oanKtfrL6f" title="Maturity date">May 28,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z2YATsNU2fl8" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z8y33pDeStg5" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z19vsIBDYr73" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1211">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___zxIGYVIg58Sj" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅲ）</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zNpNjGhKVFAe" title="Maturity date">October 1,2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zkyODf0Mqzb4" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zuhPXNgz6iXg" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_z6D0NyrTbual" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1221">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zodiqArbgWya" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅲ）</td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zzCdpvX2ki3b" title="Maturity date">June 23,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zEuxsIabdit" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zJ5jFMInY8Z7" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zBy0k1LPeZw2" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1231">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zJEgHZUj9kA6" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅳ）</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zqktwoghXpD4" title="Maturity date">March 6,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zq6rzF4dcBcl" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___z4gsqHXJiiBf" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zcfknsJK7LRl" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1241">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zsVwzBY4nEuj" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅳ）</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___z97WFI4UIMF5" title="Maturity date">March 6,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zstiqf8u8oBi" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zSgnLv00D8A3" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zGZvyYK95xma" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1251">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zER50lxp1r91" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total Bank borrowings</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231_zvo09i84Rdm4" title="Total borrowings">90,300</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630_zvj8Zzzim8Tg" title="Total borrowings">98,190</span></td><td style="font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F07_zLhhSQxevvJ5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_z98FTZXeBhHb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 6, 2024, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20241106__20241106__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zfRCf7AOSIYi" title="Principal amount">30.0</span> million credit facility with China Minsheng Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20241106__20241106__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zMGvtvpil8Na" title="Credit facility expire date">November 5, 2025</span> to support its operations, which was jointly guaranteed by Cheche Insurance Sales &amp; Service Co., Ltd. (“Cheche Insurance”), a subsidiary of VIE and Baodafang. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250114__20250114__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zexI4COvYew6" title="Credit facility drew down value">9.9</span> million on January 14, 2025, and fully repaid such loan in full on January 14, 2026. In addition, the Group drew down another RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251103__20251103__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zqzLubDyXcUc" title="Credit facility drew down value">9.9</span> million under this credit facility on November 3, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F06_zlpgadFcW23g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zrQfNpCN5QTe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 20, 2024, Baodafang entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zKFJZLzGyBh8" title="Principal amount">50.0</span> million (updated to RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20241225__20241225__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zvMpgRZp7HTf">20.0</span> million on December 25, 2024) credit facility with the Bank of Beijing that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zsalWrkJFgg5" title="Credit facility expire date">June 19, 2026</span> 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 RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250610__20250610__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zFS1gDEE6dr1">10.0</span> million to Baodafang’s supplier, Beijing Cheche. The interest was prepaid in 2025 and the principal has been repaid upon maturity on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250610__20250610__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_ztqYrZApYrN4">June 5, 2026</span>. In addition, under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zNuKKGfMVW3i" title="Credit facility drew down value">10.0</span> million on June 19, 2025, which were repaid on June 18, 2026. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0E_z5MQ6rZVKPZi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zY74btKIsT29" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 30, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250530__20260530__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_zb3OAYPqZj2" title="Principal amount">5.0</span> million with the Industrial Bank Co., Ltd. (“Industrial Bank”) that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250530__20250530__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember_zENGEhBr1zU1" title="Credit facility expire date">May 29, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. The loans of RMB <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260528__20260528__us-gaap--DebtInstrumentAxis__custom--ChecheInsuranceMember_zCVbymmP9AYb" title="Loan repaid">5.0</span> million have been repaid on May 28, 2026.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0A_zIYw95B97f05" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zD2ebloPM6s6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 14, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251014__20251014_zyZMC8Tb9nid" title="Principal amount">10.0</span> million with the Industrial and Commercial Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251014__20251014_zhboQvPKZHUe" title="Credit facility expire date">June 26, 2026</span> to support its operations, which was jointly guaranteed by Baodafang and Cheche Insurance. The loans of RMB <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260624__20260624__us-gaap--DebtInstrumentAxis__custom--BaodafangAndChecheInsuranceMember_z3osOA4xSzyb" title="Loan repaid">10.0</span> million have been repaid on June 24, 2026. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F09_zdJMQgxDBSS7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F17_ztP36dtyXSh2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250627__20250627_zKetoDcTb8qi" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250627__20250627_zeFO63W3WGF1" title="Credit facility expire date">June 26, 2026</span> to support its operations, which was guaranteed by Beijing Cheche and Cheche Insurance. The loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260624__20260624__us-gaap--DebtInstrumentAxis__custom--BeijingChecheAndChecheInsuranceMember_zOn8ejgM8jkb" title="Loan repaid">5.0</span> million have been repaid on June 24, 2026. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F08_zfDUAVZkClQa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1D_zTfdLQY2J6L4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 30, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250630__20250630_zpDzbuId4YEf" title="Principal amount">10.0</span> million credit facility with the Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250630__20250630_zP0oOU9Vnpn6" title="Credit facility expire date">June 28, 2026</span> to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250630__20250630_zHGQOQLuy3Ne" title="Credit facility drew down value">10.0</span> million on June 30, 2025, and the loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260428__20260428_znhVujdFMzN3" title="Loan repaid">10.0</span> million have been repaid on April 28, 2026. In addition, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260430__20260430_zciBLXvoSeU8" title="Credit facility drew down value">10.0</span> million under this credit facility on April 30, 2026. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0E_zE1rZF4gzH0b" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_z3YiKiXHkMwb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> On December 8, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251208__20251208_zMO7XkjWnTJ4" title="Principal amount">5.0</span> million credit facility with the Bank of Shanghai that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251208__20251208_zYhDa8SEtOCi" title="Credit facility expire date">August 24, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251208__20251208_zl9TVSetbMEd" title="Credit facility drew down value">5.0</span> million on December 8, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F05_zkI9xtRmEMD2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zC376J1CrRx1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 28, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251128__20251128_z7GkAlMsGnAb" title="Principal amount">5.0</span> million credit facility with the Bank of Shanghai that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251128__20251128_zUovS9PMHLI1" title="Credit facility expire date">August 26, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251128__20251128_z4aM08ldXtH1" title="Credit facility drew down value">5.0</span> million on November 28, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F03_zwnEpXUi8av4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zY43KOnwNKfe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 29, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251229__20251229_zs7JovK98hQ3" title="Principal amount">10.0</span> million credit facility with China CITIC Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251229__20251229_zuHRLQ9J4CYd" title="Credit facility expire date">December 20, 2026</span> to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251229__20251229_zFgpDK01Qsye" title="Credit facility drew down value">0.7</span> million on December 31, 2025 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260324__20260324_zyFLTYCEAyo6" title="Credit facility drew down value">9.3</span> million on March 24, 2026, respectively. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0D_zsECxyTEBTW6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_z8W6gzg9z9dh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 8, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250508__20250508_zrWXRRCGqdja" title="Principal amount">20.0</span> million credit facility with the Bank of Beijing that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250508__20250508_zZfto9mg1A4a" title="Credit facility expire date">May 8, 2027</span> to support its operations, which was secured by a deposit pledge of USD<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--RetainageDeposit_iI_pn5n6_uUSD_c20250508_zeLZtxPVKWQd" title="Deposit pledge">3.0</span> million. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250603__20250603_zKsjqJlGOsy2" title="Drew down amount">5.0</span> million on June 3, 2025, of which RMB<span id="xdx_904_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20251203__20251203_zYsIod7NZmRi" title="Loan repaid">0.2</span> million of principal was repaid on December 3, 2025 and an additional RMB<span id="xdx_907_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260603__20260603_z9D36CtUhbjh" title="Loan repaid">0.2</span> million of principal was repaid on June 3, 2026. The Group further drew down another RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251022__20251022_z9mT6Vp1umcf" title="Credit facility drew down value">5.0</span> million on October 22, 2025, of which RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260422__20260422_zYShuxvE2yWe" title="Loan repaid">0.2</span> million of principal was repaid on April 22, 2026. In addition, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260313__20260313_zWWHTLv7ugtd" title="Credit facility drew down value">5.0</span> million on March 13, 2026 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260326__20260326_z8CIh2unv7ii" title="Credit facility drew down value">4.0</span> million on March 26, 2026, respectively. As of June 30, 2026, the loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LongTermDebt_iI_pn5n6_c20260630_z8j084Bty78b" title="Long term debt">4.6</span> million and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--OtherShortTermBorrowings_iI_pn5n6_c20260630_zR2MPcdR8yj" title="Short term debt">4.8</span> 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F01_zHFybxZXgmG2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xi) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zUKHgnTtQue2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 30, 2026, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260330__20260330_zVv5fvl8S6qd" title="Principal amount">15.0</span> million credit facility with China Minsheng Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260330__20260330_zOuG0cRaT0x8" title="Credit facility expire date">March 29, 2027</span> to support its operations, which was secured by a deposit pledge of USD<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--RetainageDeposit_iI_pn5n6_uUSD_c20260330_zYMIlLwh4Sbf" title="Deposit pledge">2.4</span> million. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260416__20260416_zUQaJv1MpII8" title="Credit facility drew down value">9.9</span> million on April 16, 2026 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260527__20260527_zAsU9ZEwxmq" title="Credit facility drew down value">5.0</span> million on May 27, 2026, respectively. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0A_zUZOTT1DxQ94" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1F_zDaFXEk9vl6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 25, 2026, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260525__20260525_zL8hPhiGefQe" title="Principal amount">5.0</span> million credit facility with Industrial Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260525__20260525_zz075T9liiFl" title="Credit facility expire date">May 24, 2027</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260529__20260529_zrb54XoAFOVi" title="Credit facility drew down value">5.0</span> million on May 29, 2026. As of June 30, 2026, the Group is in compliance with all of the loan covenants.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F08_zqVe09K67GQ2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zoHPMT3RJPS8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 24, 2026, the Group entered into two loan contracts each in the amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260624__20260624_zcz0tCqiegRc" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China, that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LineOfCreditFacilityInitiationDate1_dd_c20260624__20260624_z7BCByEZNrml" title="Credit facility initiation date">October 1, 2026</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260624__20260624_zzDtF2hmW898" title="Credit facility expire date">June 23, 2027</span> respectively to support its operations, which were guaranteed by Beijing Cheche and Cheche Insurance. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F00_zss13GeeOqB9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiv)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zaXPCNwVjWVe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 24, 2026, the Group entered into two loan contracts each in the amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260624__20260624__us-gaap--CreditFacilityAxis__custom--IndustrialAndCommercialBankOfChinaMember_zZi4XCcdK79b" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China, that both will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260624__20260624__us-gaap--CreditFacilityAxis__custom--IndustrialAndCommercialBankOfChinaMember_z99SHOp7wK7k" title="Credit facility expire date">March 6, 2027</span> to support its operations, which were guaranteed by Cheche Insurance and Baodafang. There are no financial covenants for the credit facility.</span></td></tr> </table> <p id="xdx_8AE_zEQuuGAcrxqi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 20pt; text-align: justify; text-indent: -20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfDebtTableTextBlock_zlnzTlvYSu8d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Group’s outstanding short-term and long-term borrowings as of December 31, 2025 and June 30, 2026, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zfMbKKlrJCF3" style="display: none">Schedule of Outstanding Short-term and Long-term Borrowings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zRFAVzDNroMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_zxTY0eZ7Pes5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShortTermBorrowings_iI_maDLASCzYvT_zqhfJ8h4G2Sf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Short-term bank borrowings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">80,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">98,190</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtNoncurrent_iI_maDLASCzYvT_zYkkM7ne5lw6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Long-term bank borrowings</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,800</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0998">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iTI_mtDLASCzYvT_z2o5xwCUUtec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bank borrowings</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">90,300</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">98,190</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> 80500000 98190000 9800000 90300000 98190000 <p id="xdx_89F_eus-gaap--ScheduleOfSubordinatedBorrowingTextBlock_zAsg5eZDkZq5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zNTLAtB7LLOi" style="display: none">Schedule of Bank Borrowings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Maturity date</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest rate per annum</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">China Minsheng Bank(i)</td><td style="width: 2%"> </td> <td style="text-align: right; width: 20%"><span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zxqkc5FQ4ool" title="Maturity date">January 14, 2026</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_z8ShhEK5knc8" title="Principal amount">9,900</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zo5tXKHe08Kk" title="Interest rate per annum">2.80</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zC0Q2AwHnUo8" title="Total borrowings">9,900</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_fKGkp_zv1fRUsy2PY6" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1013">-</span></span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China Minsheng Bank(i)</td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zS1xhghdlXUe" title="Maturity date">November 3, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zh7JuZQIX9eh" title="Principal amount">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_z2eJ5cwZgekk" title="Interest rate per annum">2.50</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_z8by5GxTSxx4" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankTwoMember_fKGkp_zZs8QSOdN6O6" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(ii)</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zbczhMi3jZkj" title="Maturity date">June 5, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zavJgMrjWm0a" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zRp3nsCKmpO8" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">            <span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zTthOD1KJKO2" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_fKGlpKQ_____zAyBN5S3Wbvc" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1033">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(ii)</td><td> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zuy5vtbjWdFi" title="Maturity date">June 19, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zuZZDQ8t4nl4" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zU2MiqYfLaLf" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____znIqLCuZcf77" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingTwoMember_fKGlpKQ_____zlGD36sZLt22" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1043">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial Bank(iii)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zRwofqKnXQa1" title="Maturity date">May 29, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zOwd5pZUMFfk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zh5VocjmXmSd" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___z6I3TwlkEkN7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankOneMember_fKGlpaSk___zAKJP1Naw5d4" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1053">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China(iv)</td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zEFgyT0ZWcJ1" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zIVfL2jR6hzb" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zweTYdfBlEYh" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zHGsLXGvicl7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaMember_fKGl2KQ_____zJBfEynOrHIk" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1063">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China(iv)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zHzENRDCTcc6" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____z4BWMm7BDYNe" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____z6QFnG3TX8A7" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zvUa9NBhEaN8" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaOneMember_fKGl2KQ_____zf21wO740KCg" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1073">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China(v)</td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zPfq94NcIPr9" title="Maturity date">June 26, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zypWEKE4jT9h" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_z1m1J1gpcq4h" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_zZ1VGsWhMoce" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaTwoMember_fKHYp_za28rsUSaPp8" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1083">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of China(vi)</td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zkQipZAiwy5d" title="Maturity date">June 30, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zeu0qgVvwkE6" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zDDJeP8z1DF8" title="Interest rate per annum">2.15</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zWk9wP61IkOa" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaMember_fKHZpKQ_____zrL5Uv0zxM5" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1093">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of China(vi)</td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zEtCi2HtMi55" title="Maturity date">April 30,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zlFWScXtAxF5" title="Principal amount">10,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____z92R2csrA1c7" title="Interest rate per annum">2.24</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____z7nRFCbinIug" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1101">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfChinaOneMember_fKHZpKQ_____zwHGgnQJGLyd" title="Total borrowings">10,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Shanghai(vii)</td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z4TJVCVK8KA" title="Maturity date">September 8, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___zB1zRZbadPkk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z0adZGh1Robh" title="Interest rate per annum">2.40</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z7H44O7kHrTl" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiMember_fKHZpaSk___z6FigkkBCfo3" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Shanghai(viii)</td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_z5YiiMQjHf3c" title="Maturity date">August 28, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zUs8mhuE55Lc" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zA3VinPBdIZ4" title="Interest rate per annum">2.40</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zEL0wrmOUrlh" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfShanghaiOneMember_fKHZpaWkp_zdf7WeGRGHK7" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">China CITIC Bank (ix)</td><td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____z6QIDq6yyrO8" title="Maturity date">December 30, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____ziMxQNertmag" title="Principal amount">700</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zywXQpn3NSgl" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zt2X60rrLR7l" title="Total borrowings">700</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankMember_fKGl4KQ_____zNXxrGefPj59" title="Total borrowings">700</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China CITIC Bank (ix)</td><td> </td> <td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zAeLSBhqAJ69" title="Maturity date">March 23,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zbyolAsVfG6a" title="Principal amount">9,300</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zezfkEEDJ1ef" title="Interest rate per annum">2.50</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zKmLd8ykyryg" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1141">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaCITICBankOneMember_fKGl4KQ_____zvSz7KstHn14" title="Total borrowings">9,300</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_zGsAf6q1Vet" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_ziDq0uszYfQk" title="Principal amount">4,800</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_znWlOV8ou1va" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_z37Ur7uL1nT9" title="Total borrowings">4,800</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingThreeMember_fKHgp_zYT6bnBA2MG6" title="Total borrowings">4,600</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zGOgIG1ul43b" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zzezwC2Gm0p9" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_z9jjfFm6lpDl" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zfFUiyXHr6Le" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFourMember_fKHgp_zHLuVCZGtHs4" title="Total borrowings">4,800</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zV6pBm6hfrq5" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zi0fKeOYGDFk" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zGHZZMCZl9He" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zDgppjpsdv5i" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1171">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingFiveMember_fKHgp_zGgEUiheQjI6" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Bank of Beijing(x)</td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zcJ8t04l2hV" title="Maturity date">May 8, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zfdd78MIKQP8" title="Principal amount">4,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zep4ItRriLBc" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zInNBUHo6EHb" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1181">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingSixMember_fKHgp_zFFl03nmWle9" title="Total borrowings">4,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">China Minsheng Bank(xi)</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zIwXjrHUVs5i" title="Maturity date">April 16,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zFdYMKsJt7s" title="Principal amount">9,900</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zbEI72E52yPj" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zcdoyLW8TiS7" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1191">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankThreeMember_fKHhpKQ_____zzpCRk1wzZak" title="Total borrowings">9,900</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">China Minsheng Bank(xi)</td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____z6i0dkQkzUr3" title="Maturity date">May 27,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zvYNlw0VYOI1" title="Principal amount">4,990</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zgFuwr0Il1hf" title="Interest rate per annum">2.80</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zxz4cDWRAjdc" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1201">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankFourMember_fKHhpKQ_____zRiF5FxfYgV2" title="Total borrowings">4,990</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial Bank(xii)</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z4oanKtfrL6f" title="Maturity date">May 28,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z2YATsNU2fl8" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z8y33pDeStg5" title="Interest rate per annum">2.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___z19vsIBDYr73" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1211">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_fKHhpaSk___zxIGYVIg58Sj" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅲ）</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zNpNjGhKVFAe" title="Maturity date">October 1,2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zkyODf0Mqzb4" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zuhPXNgz6iXg" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_z6D0NyrTbual" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1221">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaThreeMember_fKHhpaWkp_zodiqArbgWya" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅲ）</td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zzCdpvX2ki3b" title="Maturity date">June 23,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zEuxsIabdit" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zJ5jFMInY8Z7" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zBy0k1LPeZw2" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1231">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFourMember_fKHhpaWkp_zJEgHZUj9kA6" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅳ）</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zqktwoghXpD4" title="Maturity date">March 6,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zq6rzF4dcBcl" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___z4gsqHXJiiBf" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zcfknsJK7LRl" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1241">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaFiveMember_fKHhpdik___zsVwzBY4nEuj" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Industrial and Commercial Bank of China （ⅹⅳ）</td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___z97WFI4UIMF5" title="Maturity date">March 6,2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zstiqf8u8oBi" title="Principal amount">5,000</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zSgnLv00D8A3" title="Interest rate per annum">2.35</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zGZvyYK95xma" title="Total borrowings"><span style="-sec-ix-hidden: xdx2ixbrl1251">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630__us-gaap--DebtInstrumentAxis__custom--IndustrialAndCommercialBankOfChinaSixMember_fKHhpdik___zER50lxp1r91" title="Total borrowings">5,000</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total Bank borrowings</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20251231_zvo09i84Rdm4" title="Total borrowings">90,300</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_c20260630_zvj8Zzzim8Tg" title="Total borrowings">98,190</span></td><td style="font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F07_zLhhSQxevvJ5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_z98FTZXeBhHb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 6, 2024, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20241106__20241106__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zfRCf7AOSIYi" title="Principal amount">30.0</span> million credit facility with China Minsheng Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20241106__20241106__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zMGvtvpil8Na" title="Credit facility expire date">November 5, 2025</span> to support its operations, which was jointly guaranteed by Cheche Insurance Sales &amp; Service Co., Ltd. (“Cheche Insurance”), a subsidiary of VIE and Baodafang. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250114__20250114__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zexI4COvYew6" title="Credit facility drew down value">9.9</span> million on January 14, 2025, and fully repaid such loan in full on January 14, 2026. In addition, the Group drew down another RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251103__20251103__us-gaap--DebtInstrumentAxis__custom--ChinaMinshengBankOneMember_zqzLubDyXcUc" title="Credit facility drew down value">9.9</span> million under this credit facility on November 3, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F06_zlpgadFcW23g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zrQfNpCN5QTe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 20, 2024, Baodafang entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zKFJZLzGyBh8" title="Principal amount">50.0</span> million (updated to RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20241225__20241225__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zvMpgRZp7HTf">20.0</span> million on December 25, 2024) credit facility with the Bank of Beijing that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zsalWrkJFgg5" title="Credit facility expire date">June 19, 2026</span> 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 RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250610__20250610__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zFS1gDEE6dr1">10.0</span> million to Baodafang’s supplier, Beijing Cheche. The interest was prepaid in 2025 and the principal has been repaid upon maturity on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250610__20250610__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_ztqYrZApYrN4">June 5, 2026</span>. In addition, under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20240620__20240620__us-gaap--DebtInstrumentAxis__custom--BankOfBeijingOneMember_zNuKKGfMVW3i" title="Credit facility drew down value">10.0</span> million on June 19, 2025, which were repaid on June 18, 2026. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0E_z5MQ6rZVKPZi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zY74btKIsT29" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 30, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250530__20260530__us-gaap--DebtInstrumentAxis__custom--IndustrialBankTwoMember_zb3OAYPqZj2" title="Principal amount">5.0</span> million with the Industrial Bank Co., Ltd. (“Industrial Bank”) that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250530__20250530__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember_zENGEhBr1zU1" title="Credit facility expire date">May 29, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. The loans of RMB <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260528__20260528__us-gaap--DebtInstrumentAxis__custom--ChecheInsuranceMember_zCVbymmP9AYb" title="Loan repaid">5.0</span> million have been repaid on May 28, 2026.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0A_zIYw95B97f05" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zD2ebloPM6s6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 14, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251014__20251014_zyZMC8Tb9nid" title="Principal amount">10.0</span> million with the Industrial and Commercial Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251014__20251014_zhboQvPKZHUe" title="Credit facility expire date">June 26, 2026</span> to support its operations, which was jointly guaranteed by Baodafang and Cheche Insurance. The loans of RMB <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260624__20260624__us-gaap--DebtInstrumentAxis__custom--BaodafangAndChecheInsuranceMember_z3osOA4xSzyb" title="Loan repaid">10.0</span> million have been repaid on June 24, 2026. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F09_zdJMQgxDBSS7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F17_ztP36dtyXSh2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the Group entered into a loan contract of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250627__20250627_zKetoDcTb8qi" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250627__20250627_zeFO63W3WGF1" title="Credit facility expire date">June 26, 2026</span> to support its operations, which was guaranteed by Beijing Cheche and Cheche Insurance. The loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260624__20260624__us-gaap--DebtInstrumentAxis__custom--BeijingChecheAndChecheInsuranceMember_zOn8ejgM8jkb" title="Loan repaid">5.0</span> million have been repaid on June 24, 2026. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F08_zfDUAVZkClQa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1D_zTfdLQY2J6L4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 30, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250630__20250630_zpDzbuId4YEf" title="Principal amount">10.0</span> million credit facility with the Bank of China that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250630__20250630_zP0oOU9Vnpn6" title="Credit facility expire date">June 28, 2026</span> to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250630__20250630_zHGQOQLuy3Ne" title="Credit facility drew down value">10.0</span> million on June 30, 2025, and the loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260428__20260428_znhVujdFMzN3" title="Loan repaid">10.0</span> million have been repaid on April 28, 2026. In addition, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260430__20260430_zciBLXvoSeU8" title="Credit facility drew down value">10.0</span> million under this credit facility on April 30, 2026. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0E_zE1rZF4gzH0b" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_z3YiKiXHkMwb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> On December 8, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251208__20251208_zMO7XkjWnTJ4" title="Principal amount">5.0</span> million credit facility with the Bank of Shanghai that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251208__20251208_zYhDa8SEtOCi" title="Credit facility expire date">August 24, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251208__20251208_zl9TVSetbMEd" title="Credit facility drew down value">5.0</span> million on December 8, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F05_zkI9xtRmEMD2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zC376J1CrRx1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 28, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251128__20251128_z7GkAlMsGnAb" title="Principal amount">5.0</span> million credit facility with the Bank of Shanghai that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251128__20251128_zUovS9PMHLI1" title="Credit facility expire date">August 26, 2026</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251128__20251128_z4aM08ldXtH1" title="Credit facility drew down value">5.0</span> million on November 28, 2025. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F03_zwnEpXUi8av4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zY43KOnwNKfe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 29, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20251229__20251229_zs7JovK98hQ3" title="Principal amount">10.0</span> million credit facility with China CITIC Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20251229__20251229_zuHRLQ9J4CYd" title="Credit facility expire date">December 20, 2026</span> to support its operations, which was guaranteed by Beijing Cheche. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251229__20251229_zFgpDK01Qsye" title="Credit facility drew down value">0.7</span> million on December 31, 2025 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260324__20260324_zyFLTYCEAyo6" title="Credit facility drew down value">9.3</span> million on March 24, 2026, respectively. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0D_zsECxyTEBTW6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_z8W6gzg9z9dh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 8, 2025, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20250508__20250508_zrWXRRCGqdja" title="Principal amount">20.0</span> million credit facility with the Bank of Beijing that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20250508__20250508_zZfto9mg1A4a" title="Credit facility expire date">May 8, 2027</span> to support its operations, which was secured by a deposit pledge of USD<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--RetainageDeposit_iI_pn5n6_uUSD_c20250508_zeLZtxPVKWQd" title="Deposit pledge">3.0</span> million. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20250603__20250603_zKsjqJlGOsy2" title="Drew down amount">5.0</span> million on June 3, 2025, of which RMB<span id="xdx_904_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20251203__20251203_zYsIod7NZmRi" title="Loan repaid">0.2</span> million of principal was repaid on December 3, 2025 and an additional RMB<span id="xdx_907_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260603__20260603_z9D36CtUhbjh" title="Loan repaid">0.2</span> million of principal was repaid on June 3, 2026. The Group further drew down another RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20251022__20251022_z9mT6Vp1umcf" title="Credit facility drew down value">5.0</span> million on October 22, 2025, of which RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20260422__20260422_zYShuxvE2yWe" title="Loan repaid">0.2</span> million of principal was repaid on April 22, 2026. In addition, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260313__20260313_zWWHTLv7ugtd" title="Credit facility drew down value">5.0</span> million on March 13, 2026 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260326__20260326_z8CIh2unv7ii" title="Credit facility drew down value">4.0</span> million on March 26, 2026, respectively. As of June 30, 2026, the loans of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LongTermDebt_iI_pn5n6_c20260630_z8j084Bty78b" title="Long term debt">4.6</span> million and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--OtherShortTermBorrowings_iI_pn5n6_c20260630_zR2MPcdR8yj" title="Short term debt">4.8</span> 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F01_zHFybxZXgmG2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xi) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zUKHgnTtQue2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 30, 2026, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260330__20260330_zVv5fvl8S6qd" title="Principal amount">15.0</span> million credit facility with China Minsheng Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260330__20260330_zOuG0cRaT0x8" title="Credit facility expire date">March 29, 2027</span> to support its operations, which was secured by a deposit pledge of USD<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--RetainageDeposit_iI_pn5n6_uUSD_c20260330_zYMIlLwh4Sbf" title="Deposit pledge">2.4</span> million. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260416__20260416_zUQaJv1MpII8" title="Credit facility drew down value">9.9</span> million on April 16, 2026 and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260527__20260527_zAsU9ZEwxmq" title="Credit facility drew down value">5.0</span> million on May 27, 2026, respectively. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F0A_zUZOTT1DxQ94" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1F_zDaFXEk9vl6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 25, 2026, the Group entered into a RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260525__20260525_zL8hPhiGefQe" title="Principal amount">5.0</span> million credit facility with Industrial Bank that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260525__20260525_zz075T9liiFl" title="Credit facility expire date">May 24, 2027</span> to support its operations, which was guaranteed by Cheche Insurance. Under this credit facility, the Group drew down RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_ecustom--LineOfCreditFacilityDrewDownAmount_pn5n6_c20260529__20260529_zrb54XoAFOVi" title="Credit facility drew down value">5.0</span> million on May 29, 2026. As of June 30, 2026, the Group is in compliance with all of the loan covenants.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F08_zqVe09K67GQ2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiii)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F18_zoHPMT3RJPS8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 24, 2026, the Group entered into two loan contracts each in the amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260624__20260624_zcz0tCqiegRc" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China, that will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90F_eus-gaap--LineOfCreditFacilityInitiationDate1_dd_c20260624__20260624_z7BCByEZNrml" title="Credit facility initiation date">October 1, 2026</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260624__20260624_zzDtF2hmW898" title="Credit facility expire date">June 23, 2027</span> respectively to support its operations, which were guaranteed by Beijing Cheche and Cheche Insurance. There are no financial covenants for the credit facility.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F00_zss13GeeOqB9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xiv)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zaXPCNwVjWVe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 24, 2026, the Group entered into two loan contracts each in the amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20260624__20260624__us-gaap--CreditFacilityAxis__custom--IndustrialAndCommercialBankOfChinaMember_zZi4XCcdK79b" title="Principal amount">5.0</span> million with the Industrial and Commercial Bank of China, that both will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20260624__20260624__us-gaap--CreditFacilityAxis__custom--IndustrialAndCommercialBankOfChinaMember_z99SHOp7wK7k" title="Credit facility expire date">March 6, 2027</span> to support its operations, which were guaranteed by Cheche Insurance and Baodafang. There are no financial covenants for the credit facility.</span></td></tr> </table> January 14, 2026 9900000 0.0280 9900000 November 3, 2026 9900000 0.0250 9900000 9900000 June 5, 2026 10000000 0.0280 10000000 June 19, 2026 10000000 0.0280 10000000 May 29, 2026 5000000 0.0280 5000000 June 26, 2026 5000000 0.0235 5000000 June 26, 2026 5000000 0.0235 5000000 June 26, 2026 5000000 0.0235 5000000 June 30, 2026 10000000 0.0215 10000000 April 30,2027 10000000 0.0224 10000000 September 8, 2026 5000000 0.0240 5000000 5000000 August 28, 2026 5000000 0.0240 5000000 5000000 December 30, 2026 700000 0.0280 700000 700000 March 23,2027 9300000 0.0250 9300000 May 8, 2027 4800000 0.0260 4800000 4600000 May 8, 2027 5000000 0.0260 5000000 4800000 May 8, 2027 5000000 0.0260 5000000 May 8, 2027 4000000 0.0260 4000000 April 16,2027 9900000 0.0280 9900000 May 27,2027 4990000 0.0280 4990000 May 28,2027 5000000 0.0260 5000000 October 1,2026 5000000 0.0235 5000000 June 23,2027 5000000 0.0235 5000000 March 6,2027 5000000 0.0235 5000000 March 6,2027 5000000 0.0235 5000000 90300000 98190000 30000000.0 2025-11-05 9900000 9900000 50000000.0 20000000.0 2026-06-19 10000000.0 2026-06-05 10000000.0 5000000.0 2026-05-29 5000000.0 10000000.0 2026-06-26 10000000.0 5000000.0 2026-06-26 5000000.0 10000000.0 2026-06-28 10000000.0 10000000.0 10000000.0 5000000.0 2026-08-24 5000000.0 5000000.0 2026-08-26 5000000.0 10000000.0 2026-12-20 700000 9300000 20000000.0 2027-05-08 3000000.0 5000000.0 200000 200000 5000000.0 200000 5000000.0 4000000.0 4600000 4800000 15000000.0 2027-03-29 2400000 9900000 5000000.0 5000000.0 2027-05-24 5000000.0 5000000.0 2026-10-01 2027-06-23 5000000.0 2027-03-06 <p id="xdx_800_ecustom--TaxationTextBlock_zh3qmybGDIy4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. <span id="xdx_820_zH3uecqSPrk5">Taxation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a) Income taxes </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cayman Islands</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends by the Company in the Cayman Islands to its shareholders, no Cayman Islands withholding tax will be imposed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Hong Kong</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_91F_ecountry--HK_zw0vRaiuAZ35" style="display: none">Hong Kong [Member]</span></span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidiary incorporated in Hong Kong is subject to Hong Kong profits tax at a rate of <span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20180401__20180401_zJTcFDXMQ2A5" title="Profit tax rates">16.5</span>% for taxable income earned in Hong Kong before April 1, 2018. Starting from the financial year commencing on April 1, 2018, the two-tiered profits tax regime took effect, under which the tax rate is <span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20180401__20180401_zIgIjS70e4Ze" title="Tax rate">8.25</span>% for assessable profits on the first HK$<span id="xdx_905_ecustom--IncomeTaxAssessableProfit_pn6n6_uHKD_c20180401__20180401_zYg7esWLtIK5" title="Income tax assessable profit">2</span> million and <span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20240101__20240630_zETeyfH8aLLd" title="Profit tax rates">16.5</span>% for any assessable profits in excess of HK$<span id="xdx_90F_ecustom--IncomeTaxAssessableProfit_pn6n6_uHKD_c20240101__20241231_zUj0n6MEJJ0i" title="Income tax assessable profit">2</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>PRC</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i><span id="xdx_91E_ecountry--CN_zTHhj61zlUz9" style="display: none">China [Member]</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the Enterprise Income Tax (“EIT”) Law of the PRC, the Company’s PRC subsidiaries, VIE and subsidiaries of VIE are subject to an income tax of <span id="xdx_901_ecustom--IncomeTaxRateOnVIEAndSubsidiaries_pid_dp_uPure_c20260101__20260630__srt--StatementGeographicalAxis__country--CN_zwSuOfXyXac8">25</span>%, except for Beijing Cheche and Baodafang, which Beijing Cheche was entitled a preferential tax rate of <span id="xdx_90F_ecustom--PreferentialTaxRate_pid_dp_uPure_c20260101__20260630_zWEeDDPCqO65">15</span>% from December 2022 to December 2025 and from December 2025 to December 2028 for its High and New Technology Enterprise (“HNTE”) status, and Baodafang was entitled a preferential tax rate of <span id="xdx_90F_ecustom--PreferentialTaxRatePercentage_pid_dp_uPure_c20260101__20260630_zwn2YNyGYBM6">15</span>% from December 2023 to December 2026 for its HNTE status, subject to annual evaluation and a requirement that they re-apply for HNTE status every three years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zybZ1106xwf6" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of loss before income taxes are as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zZ9OgFXzkCb" style="display: none">Schedule of Income Tax Expense</span><span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_zfKrNHE048u8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zSqtX9Hcw5ea" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--LossBeforeIncomeTaxExpenseAbstract_iB_zYTL53HVUNG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_i01_pn3n3_maILFCOz72l_zumyoMnPGtl1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Loss from PRC operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(22,718</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">(42,299</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_i01_pn3n3_maILFCOz72l_zfIlnKdFLYL7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; text-align: left">Loss from non-PRC operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,045</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,999</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_mtILFCOz72l_z3sds9j6Y9ra" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total Loss before income tax expense</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(25,763</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(44,298</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zFSp2qtJ4vn9" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the six months ended June 30,</p></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20260101__20260630_zyPbiNli5qA5" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the six months ended June 30,</p></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zhNsshWWbZFg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zY7hUoeNZpRc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">PRC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1422">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1423">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_zvClh3mf73a1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; width: 60%">Non-PRC</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">67</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">21</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_zm676zJZ8pQ4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total current income tax expense</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">67</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zfuIvnEpJntb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred income tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zBmy54ocSM1b" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">PRC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(262</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(262</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_zpN1c4fTykU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Non-PRC</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1438">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pn3n3_di_zu8qWPckleWa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total deferred income tax benefit</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(262</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(262</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_zDiPPfks8lzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total income tax benefit</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(195</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(241</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8A4_zSZhxwo0N5Kb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. Taxation (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b) Withholding income tax</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The enterprise income tax (“EIT”) Law also imposes a withholding income tax of <span id="xdx_902_ecustom--WithholdingIncomeTaxPercentageOnDividends_iI_pid_dp_uPure_c20260630_zwQ9LlEUaWF8" title="Withholding income tax rate on dividends">10</span>% on dividends distributed by a foreign-invested entity (“FIE”) to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by a FIE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% if all the requirements are satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To the extent that subsidiaries, VIE and subsidiaries of VIE of the Group have undistributed earnings, the Company will accrue appropriate expected withholding tax associated with repatriation of such undistributed earnings. As of December 31, 2025 and June 30, 2026, the Company did not record any such withholding tax of its subsidiaries, VIE and subsidiaries of VIE in the PRC as they are still in accumulated deficit position.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.165 0.0825 2000000 0.165 2000000 0.25 0.15 0.15 <p id="xdx_89E_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zybZ1106xwf6" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of loss before income taxes are as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zZ9OgFXzkCb" style="display: none">Schedule of Income Tax Expense</span><span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_zfKrNHE048u8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zSqtX9Hcw5ea" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--LossBeforeIncomeTaxExpenseAbstract_iB_zYTL53HVUNG8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_i01_pn3n3_maILFCOz72l_zumyoMnPGtl1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Loss from PRC operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(22,718</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">(42,299</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_i01_pn3n3_maILFCOz72l_zfIlnKdFLYL7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; text-align: left">Loss from non-PRC operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,045</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,999</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_mtILFCOz72l_z3sds9j6Y9ra" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total Loss before income tax expense</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(25,763</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(44,298</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zFSp2qtJ4vn9" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the six months ended June 30,</p></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20260101__20260630_zyPbiNli5qA5" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">For the six months ended June 30,</p></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zhNsshWWbZFg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zY7hUoeNZpRc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">PRC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1422">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1423">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_zvClh3mf73a1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; width: 60%">Non-PRC</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">67</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">21</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_zm676zJZ8pQ4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total current income tax expense</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">67</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zfuIvnEpJntb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred income tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zBmy54ocSM1b" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">PRC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(262</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(262</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_zpN1c4fTykU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Non-PRC</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1438">-</span></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pn3n3_di_zu8qWPckleWa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total deferred income tax benefit</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(262</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(262</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_zDiPPfks8lzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total income tax benefit</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(195</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(241</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> -22718000 -42299000 -3045000 -1999000 -25763000 -44298000 67000 21000 67000 21000 -262000 -262000 262000 262000 -195000 -241000 0.10 <p id="xdx_80A_eus-gaap--IncomeTaxDisclosureTextBlock_zfemTxYcKA06" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. <span id="xdx_829_zTmuoRgGpvzg">Tax payable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group’s subsidiaries, VIE and subsidiaries of VIE incorporated in China are subject to <span id="xdx_90D_ecustom--ValueAddedTaxRate_iI_pid_dp_uPure_c20260630_zUuXuZofkPD5" title="Value added tax rate">6</span>% VAT for services rendered.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfTaxPayableTableTextBlock_z6zpjn6wUTVa" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of tax payable as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b><span id="xdx_8B9_zYLdhXB3RS83" style="display: none">Schedule of Tax Payable</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zeMtuM38dhpd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_z5KAiyG4o1Z9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maTPCz43H_zEK2VKZ56dU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">VAT payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17,819</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedIncomeTaxesCurrent_iI_maTPCz43H_zWTY4ZrcDs08" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Individual income tax payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">454</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ConstructionTaxPayablesCurrent_iI_maTPCz43H_zsHounwH9kdh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Construction tax payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--EducationalDevelopmentPayables_iI_maTPCz43H_zPNIKmxnJ0X8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Educational development payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--TaxPayableOtherCurrent_iI_maTPCz43H_zJYvzjSTwEZ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrent_iTI_mtTPCz43H_zOthny0EZyO2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">22,657</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,320</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zrFahy2l0ve6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.06 <p id="xdx_89A_ecustom--ScheduleOfTaxPayableTableTextBlock_z6zpjn6wUTVa" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of tax payable as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b><span id="xdx_8B9_zYLdhXB3RS83" style="display: none">Schedule of Tax Payable</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zeMtuM38dhpd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260630_z5KAiyG4o1Z9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maTPCz43H_zEK2VKZ56dU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">VAT payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17,819</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedIncomeTaxesCurrent_iI_maTPCz43H_zWTY4ZrcDs08" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Individual income tax payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">454</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ConstructionTaxPayablesCurrent_iI_maTPCz43H_zsHounwH9kdh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Construction tax payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--EducationalDevelopmentPayables_iI_maTPCz43H_zPNIKmxnJ0X8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Educational development payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--TaxPayableOtherCurrent_iI_maTPCz43H_zJYvzjSTwEZ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TaxesPayableCurrent_iTI_mtTPCz43H_zOthny0EZyO2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">22,657</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,320</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 22177000 17819000 440000 454000 15000 21000 11000 15000 14000 11000 22657000 18320000 <p id="xdx_805_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zOlIJSEdtfca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11. <span id="xdx_820_zVMwaXACSq1e">Accrued expenses and other current liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zQGs1GfHW2O6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of accrued expenses and other current liabilities as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zOKAaAeorlj9" style="display: none">Schedule of Accrued Expenses and Other Current Liabilities</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zMSGOQTvv3x1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_495_20260630_z0fwRA19hoXj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedProfessionalFeesCurrent_iI_maAPAALzVvh_z3Pz7hWqJ2bh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional service fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,022</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">13,328</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerRefundLiability_iI_maAPAALzVvh_zTPxNalXrbNg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Refund liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,825</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzVvh_zFc5L02lf8Nf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">545</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maAPAALzVvh_zlROFcw3rsjg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">834</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,469</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzVvh_zxr7li4BAUn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">19,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,167</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_znGdU6IdVOu4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zQGs1GfHW2O6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of accrued expenses and other current liabilities as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zOKAaAeorlj9" style="display: none">Schedule of Accrued Expenses and Other Current Liabilities</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zMSGOQTvv3x1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_495_20260630_z0fwRA19hoXj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedProfessionalFeesCurrent_iI_maAPAALzVvh_z3Pz7hWqJ2bh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional service fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,022</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">13,328</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerRefundLiability_iI_maAPAALzVvh_zTPxNalXrbNg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Refund liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,825</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzVvh_zFc5L02lf8Nf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">545</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maAPAALzVvh_zlROFcw3rsjg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">834</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,469</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzVvh_zxr7li4BAUn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">19,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,167</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 12022000 13328000 5801000 4825000 549000 545000 834000 1469000 19206000 20167000 <p id="xdx_800_eus-gaap--SegmentReportingDisclosureTextBlock_zcz2QWgaFh0i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. <span id="xdx_82B_zSPb6q5aEChf">Segment Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Company concluded that the Group’s CODM is Mr. Lei Zhang, Chairman of the Board of Directors, and CEO.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 280-10, <i>Segment Reporting: Overall</i>, the CODM reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group as a whole; hence, the Group has only <span id="xdx_903_eus-gaap--NumberOfOperatingSegments_dc_uSegment_c20250101__20251231_zCxBg5q1TaW3" title="Number of operating segment"><span id="xdx_908_eus-gaap--NumberOfReportableSegments_dc_uSegment_c20250101__20251231_z5BrjlV76RT" title="Number of reporting segment">one</span></span> operating segment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--DisaggregationOfRevenueTableTextBlock_zhsDCDYDLfkl" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Key revenues streams are as below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> <span id="xdx_8B1_zffspNw4IR1" style="display: none">Schedule of Key Revenues Streams</span></b></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zKyZDazBcB4g" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zHc5Y14DW15h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InsuranceTransactionServicesIncomeMember_zuoZKOOL7Yob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Insurance transaction services income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,340,410</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">873,734</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--SaaSAndTechnicalServiceIncomeMember_zTyBmANFRyY4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SaaS and technical service income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,100</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zwtDPT6omFd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,939</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_pn3n3_zFBdaT7OK3Bj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,348,652</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">885,048</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zUMVRa6Qyh4e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Substantially all revenues are derived in China where services are provided to customers. In addition, the Group’s long-lived assets are substantially all located in China. Therefore, no geographical segments are presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 1 <p id="xdx_897_eus-gaap--DisaggregationOfRevenueTableTextBlock_zhsDCDYDLfkl" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Key revenues streams are as below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> <span id="xdx_8B1_zffspNw4IR1" style="display: none">Schedule of Key Revenues Streams</span></b></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zKyZDazBcB4g" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zHc5Y14DW15h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InsuranceTransactionServicesIncomeMember_zuoZKOOL7Yob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Insurance transaction services income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,340,410</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">873,734</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--SaaSAndTechnicalServiceIncomeMember_zTyBmANFRyY4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SaaS and technical service income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,100</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zwtDPT6omFd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,939</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_pn3n3_zFBdaT7OK3Bj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,348,652</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">885,048</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 1340410000 873734000 6303000 7100000 1939000 4214000 1348652000 885048000 <p id="xdx_805_eus-gaap--RevenueFromContractWithCustomerTextBlock_zu5uWgSVZYu3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. <span id="xdx_82C_z1KfoaS3Mkjj">Cost of revenues</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts recorded as cost of revenues relate to direct expenses incurred in order to generate revenue, which consists primarily of cost of referral partners, service fee paid to third-party payment platforms, amortization and depreciation expenses, salary and welfare benefits, cloud service fees, tax and surcharges and others. These costs are charged to the unaudited interim condensed consolidated statements of operations and comprehensive loss as incurred. The following table presents the Group’s cost of revenue for the six months ended June 30, 2025 and 2026:</span></p> <p id="xdx_899_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zDzqkechW4G2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BB_zqATtZQxqlEc" style="display: none">Schedule of Cost of Revenues</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zVdioIgluuF9" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20260101__20260630_zVAawSPt0cf1" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the six months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--CostOfReferralPartners_pn3n3_maCORz66n_zFVPZTUmDAp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cost of referral partners</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,232,756</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">772,808</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ServiceFeePaidToThirdpartyPaymentPlatforms_pn3n3_maCORz66n_zP6jvSH2SU62" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service fee paid to third-party payment platforms</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SalariesWagesAndOfficersCompensation_pn3n3_maCORz66n_znonuPBgu2jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Salary and welfare benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,912</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepreciationAndAmortization_pn3n3_maCORz66n_zY9hFWzl7Ny9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization and depreciation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--CloudServiceFees_pn3n3_maCORz66n_zm3mv9JvWHc9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cloud service fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">244</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--TaxAndSurchargesAndOthers_pn3n3_maCORz66n_z1HonYIhwcTi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Tax and surcharges and others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">546</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,306</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_iT_pn3n3_mtCORz66n_zbiflZlyLUL4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,282,869</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">827,573</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zEK8yffv4IKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zDzqkechW4G2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BB_zqATtZQxqlEc" style="display: none">Schedule of Cost of Revenues</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zVdioIgluuF9" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20260101__20260630_zVAawSPt0cf1" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the six months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--CostOfReferralPartners_pn3n3_maCORz66n_zFVPZTUmDAp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cost of referral partners</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,232,756</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">772,808</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ServiceFeePaidToThirdpartyPaymentPlatforms_pn3n3_maCORz66n_zP6jvSH2SU62" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service fee paid to third-party payment platforms</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SalariesWagesAndOfficersCompensation_pn3n3_maCORz66n_znonuPBgu2jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Salary and welfare benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,912</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepreciationAndAmortization_pn3n3_maCORz66n_zY9hFWzl7Ny9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization and depreciation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--CloudServiceFees_pn3n3_maCORz66n_zm3mv9JvWHc9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cloud service fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">244</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--TaxAndSurchargesAndOthers_pn3n3_maCORz66n_z1HonYIhwcTi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Tax and surcharges and others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">546</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,306</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_iT_pn3n3_mtCORz66n_zbiflZlyLUL4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Total</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,282,869</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">827,573</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 1232756000 772808000 46208000 47999000 1912000 1166000 1050000 1050000 397000 244000 546000 4306000 1282869000 827573000 <p id="xdx_80F_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_z6oGTl3aBzbh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_823_zBje7mEAEk3h">Share-based compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Description of stock option plan </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify; text-indent: -16.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019 Incentive Plan</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2020, the Company permitted the grant of options and restricted shares to relevant directors, officers, senior management, employees and non-employees of the Group (the “2019 Incentive Plan”). Option awards are granted with an exercise price determined by the Board of Directors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The stock options granted under the 2019 Incentive Plan have a contractual term of 10 years and will expire the earlier of (i) three months after termination of service with the Group, or (ii) upon the tenth anniversary of the grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The stock options granted under the 2019 Incentive Plan will be immediately vested upon grant.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The restricted shares granted under the 2019 Incentive Plan could either be granted with terms that (i) immediately vested upon grant; (ii) <span id="xdx_908_ecustom--PercentageOfVestedShareOnEachAnniversaryForTwoYears_iI_pid_dp_c20250630__us-gaap--AwardTypeAxis__custom--TwoThousandNineteenIncentivePlanMember_zqYAxBMMLyD4" title="Percentage of vested share on each anniversary for two years">25</span>% vested on each anniversary or <span id="xdx_90C_ecustom--PercentageOfVestedShareOnEachQuarterForFourYears_iI_pid_dp_c20250630__us-gaap--AwardTypeAxis__custom--TwoThousandNineteenIncentivePlanMember_zo3eIDulF1v5" title="Percentage of vested share on each quarter for four years">6.25</span>% vested on each quarter for vesting schedule of four years; or (iii) <span id="xdx_906_ecustom--PercentageOfVestedShareOnEachAnniversaryForTwoYears_iI_pid_dp_c20250630__us-gaap--AwardTypeAxis__custom--TwoThousandNineteenIncentivePlanOneMember_zDA2D0mxzhP4" title="Percentage of vested share on each anniversary for two years">50</span>% vested on each anniversary for vesting schedule of two years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023 Incentive Plan</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2023, the Company permitted the grant of options, restricted shares or any other type of awards to relevant directors, employees and non-employees of the Group (the “2023 Incentive Plan”). Option awards are granted with an exercise price determined by the Board of Directors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 718 Stock Compensation, the Group recorded share-based compensation expense on the grant date of the equity interests to its employees equal to the estimated fair-value of such equity interests at the measurement date. The share-based compensation expense was recorded in cost of revenues, selling and marketing expenses, general and administrative expenses and research and development expenses on the unaudited interim condensed consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock option replacement (the “Replacement”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2023 and July 1, 2023, a total of <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20230101__20230101__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_z4pmXb4yHysd" title="Vested options, share">86,871,800</span> and <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20230701__20230701__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_zr9PkQcS8Na1" title="Vested options, share">20,359,900</span> vested options (<span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20230101__20230101__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustmentMember_zRDMQHuBWFm4" title="Vested options, share">2,482,051</span> and <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20230701__20230701__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustmentMember_z5uIERQBsTA6" title="Vested options, share">581,711</span> options retrospectively adjusted for effect of Share Consolidation in Note 15) were replaced by <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230101__20230101__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_zs4Y5ZTICcjc" title="Restricted shares">86,871,800</span> and <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230701__20230701__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_zmAOk0MWvuK8" title="Restricted shares">20,359,900</span> restricted shares (<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230101__20230101__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustmentMember_z1NTx22aePo2" title="Restricted shares">2,482,051</span> and <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230701__20230701__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustmentMember_zgQ4HI29TN76" title="Restricted shares">581,711</span> restricted shares retrospectively adjusted for effect of Share Consolidation in Note 15) of Cheche Technology Inc. (“CCT”), a wholly owned subsidiary of the Company, which were converted into restricted shares of the Company upon the completion of the Reverse Recapitalization. The restricted shares awards are subject to the original vesting schedule of the replaced share options. The Company concluded the cancellation and replacement of awards is a modification, and determined the modification is a probable-to-probable (Type I) modification. The Company has recognized the portion of incremental value of RMB<span id="xdx_905_eus-gaap--CostOfRevenue_pn5n6_uRMB_c20230101__20230101__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_zlfNtXkCCuIb" title="Cost of revenues and expenses">26.2</span> million and RMB<span id="xdx_90C_eus-gaap--CostOfRevenue_pn5n6_uRMB_c20230701__20230701__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyThreeIncentivePlanMember_zPVkGzZRcbm6" title="Cost of revenues and expenses">26.3</span> million as cost of revenues and expenses immediately for those vested options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. Share-based compensation (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) Valuation assumptions</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zEFA2n85hQUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses binomial option pricing model and adopts fair value per share of ordinary share to determine fair value of the share-based awards. The estimated fair value of each option or each restricted share granted is estimated on the date of grant using the binomial option-pricing model or fair value per share of ordinary share with the following assumptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z8nJCSNct1i6" style="display: none">Schedule of Option Pricing Model and Adopted Fair Value Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="text-align: center; font-weight: bold">For the six months ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30,</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Options</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">Fair value per share (US$)*</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20250630__srt--RangeAxis__srt--MinimumMember_fKg_____zNnXufSZaT0j" title="Fair value per share (US$)*">23.80</span>~<span id="xdx_90B_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20250630__srt--RangeAxis__srt--MaximumMember_fKg_____zGKQiMUJGlNg" title="Fair value per share (US$)*">26.60</span></span></p></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_908_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20260630_fKg_____zUFDSr6lziJa" title="Fair value per share (US$)*">27.44</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discount rate (after tax)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MinimumMember_zxB0POic1hsb" title="Risk-free interest rate">4.23</span>%~<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MaximumMember_zWwdhIMEVeAi" title="Risk-free interest rate">4.24</span>%</span></p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630_zn8QpXqar0Gk" title="Risk-free interest rate">4.30</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MinimumMember_zXEA2oUZ4DSc" title="Expected volatility">59.65</span>%~<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MaximumMember_zfD0ttD1GY27" title="Expected volatility">60.29</span>%</span></p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630_zS2DKrpokF2g" title="Expected volatility">73.05</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contractual term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250630_zEyR4iZWwjPj" title="Contractual term (in years)">10</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630_zj2IWMpwENRl" title="Contractual term (in years)">10</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discount for lack of marketability (“DLOM”)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F04_zQp9ljaq16F4">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F18_zEc8UdCd3aZ1">The fair value of underlying ordinary shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></td></tr> </table> <p id="xdx_8AB_zVuAraS2nvMl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The expected volatility at the grant date and each option valuation date was estimated based on the annualized standard deviation of the daily return embedded in historical share prices of comparable peer companies with a time horizon close to the expected expiry of the term of the options. The weighted average volatility is the expected volatility at the grant date weighted by number of options. The Company has never declared or paid any cash dividends on its shares, and the Group does not anticipate any dividend payments in the foreseeable future. The contractual term is the contract life of the options. The Group estimated the risk-free interest rate based on the market yield of US Government Bonds with maturities of ten years as of the valuation date, plus a country default risk spread between China and US.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. Share-based compensation (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) Stock options activities</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zzel9D4tKSh2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of the Company’s stock options activities for the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BA_zaThYYOZZQ4c" style="display: none">Schedule of stock options activities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">average</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">remaining</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregated</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exercise</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">contractual</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>intrinsic</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Options Outstanding*</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>price*</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>life</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>value</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consultant</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><b>RMB in</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in years)</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>thousands</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 40%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zS42VX5vDLC6" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,048</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____z74ys1p2PQTd" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1593">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630_fKg_____zrbg793mZtL3" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,048</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20250630_fKg_____zYewK7NBJWs9" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Weighted Average exercise price, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2475</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20240101__20241231_zF4ybbQqgvpf" title="Weighted average remaining contractual life, Outstanding, Beginning balance">9.32</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250101__20250630_zNbHdrK7DUR9" style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Aggregated intrinsic value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7,990</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zg8GheGkQUGd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,229</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____z18ELXjOar2e" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1605">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630_fKg_____zQeOTbcdslXi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,229</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zI6cNcr7qCdc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueGranted_pn3n3_c20250101__20250630_zx9S5FLMs007" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1611">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zYKYcBLOmjRl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zd4h7LU9ovH1" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1615">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20250101__20250630_fKg_____zpf0kTib0tri" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zsiFtp7kpMQi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1619">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueExercised_pn3n3_c20250101__20250630_zqTJ8daqhlxj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1621">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zDRfW4mMU0Tf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(266</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zsS3hfhHP5wl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Forfeited"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1625">-</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630_fKg_____zWZZOVZGi6X9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(266</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zc2AI8ZOM6P1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueForfeited_pn3n3_c20250101__20250630_z4PhgUcrYOmg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1631">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at June 30, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zx3LT0yOUDpj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,559</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zax7KpKkHmmb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1635">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630_fKg_____zMPLDtmSWvT1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,559</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630_fKg_____zBqLccPrMrL2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.8065</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20250630_zENcC8ysOBFa" title="Weighted average remaining contractual life, Outstanding, Ending balance">9.01</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250101__20250630_zOxxkUh60uDk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8,052</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of June 30, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zuZR7Uw5HHM5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zYJH2quqBtp8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1647">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630_fKg_____z7Pq9CoayDO2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding,Total, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630_fKg_____zi0jSk9wQZYf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.4550</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20250101__20250630_zZH4HFd9gu8h" title="Weighted average remaining contractual life, Exercisable, Ending balance">8.92</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20250101__20250630_z7Xbfv4h2QB7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4,672</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zYzhs1QLTEM7" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,383</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zMMw8ag72BBi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630_fKg_____zjUJXl97UJA2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,689</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630_fKg_____zwYSLYV73cD" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7530</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20251231_zmnBB4V2P5Hj" title="Weighted average remaining contractual life, Outstanding, Beginning balance">8.81</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20260101__20260630_zDdIdAMGVie2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,332</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zw2iqiVKctP5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____ziiyf2MdZlOj" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1671">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630_fKg_____zaI2PXyT4Zve" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_fKg_____zLpRiJyr51fl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueGranted_pn3n3_c20260101__20260630_zw7FjmLT7xW8" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zfEZvGAHsf5b" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(601</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zgVB4iBivZe5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1681">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630_fKg_____zW10Lm3YQDda" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(601</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_fKg_____zEXoiXWqOru5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueForfeited_pn3n3_c20260101__20260630_zfTkMcPESXPa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1687">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zGdgTS3bjvLg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46,611</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zluUhBkt1thc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630_fKg_____zUXUIHm88mHc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58,917</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_fKg_____zuMDZLm3gQJc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7040</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630_zMnRMLq7frNg" title="Weighted average remaining contractual life, Outstanding, Ending balance">8.38</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260630_zd8mBtQPNRk9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6,364</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zLBSwwAbnXy8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,944</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zgOaOm1lihl6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630_fKg_____zf9Mvcd4EQ4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding,Total, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,250</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_fKg_____zgHpI9zMSXd2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9140</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20260101__20260630_zCETXIwQhcHa" title="Weighted average remaining contractual life, Exercisable, Ending balance">8.45</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20260101__20260630_zUF87MAL1xff" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,461</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F03_zpnHg7zGP5Bk">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F10_zb8boU9mfcxg">The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></p></td></tr> </table> <p id="xdx_8A8_zUzTgAyGOPwc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average grant date fair value of options granted for the six months ended June 30, 2025 and 2026 were RMB<span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uRMBPShares_c20250101__20250630_zPSDaueah3Ji" title="Fair value of options granted">750.5330</span> (US$<span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20250630_zNYc1eZwRS06" title="Fair value of options granted">104.7690</span>) (US$<span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20250630__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustmentMember_zVj5FGTxV97f" title="Fair value of options granted">2.9934</span> per share retrospectively adjusted for effect of Share Consolidation) and RMB<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uRMBPShares_c20260101__20260630_zQg3tawcStNk" title="Fair value of options granted">575.6151</span> (US$<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20260101__20260630_zSoWpXioXH5k" title="Fair value of options granted">84.8352</span>) per option, respectively. <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_pid_c20250101__20250630_zIkxNAd8IBr8" title="Number of Options Outstanding, Total, Exercised">1,452</span> and <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_pid_dxL_c20260101__20260630_zBqfyXcUJzL" title="Number of Options Outstanding, Total, Exercised::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1726">nil</span></span> options were exercised for the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. Share-based compensation (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) Restricted shares activities</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_899_eus-gaap--ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_z3AaIqvRxUrk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the summary of restricted share activities for the six months ended June 30, 2025 and 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zCeVWwgGc3j9" style="display: none">Schedule of restricted share activities</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"><b>Number of</b></td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted-Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Restricted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Grant Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares Granted*</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value*</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(US$)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">Unvested as of January 1, 2025</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zBFt8wNGzor3" style="width: 16%; font-weight: bold; text-align: right">3,057</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____z7Jad0dIhjPc" style="width: 16%; font-weight: bold; text-align: right">164.1640</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Awarded</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zTvfB1XmA3b6" style="text-align: right" title="Number of Restricted Shares Granted, Awarded">37,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zPcdhZ3Uh4Il" style="text-align: right" title="Weighted-Average Grant Date Fair Value, Awarded">30.2925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zwUANnwDrbhe" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Shares Granted, Vested">(39,392</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zl0PlpmpJ1lf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Grant Date Fair Value, Vested">34.8285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold">Outstanding at June 30, 2025</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zzA55rOhKYca" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Ending balance">1,575</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zbN6xX75GUjf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Ending balance">176.1795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><b>Unvested as of January 1, 2026</b></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zj8qtIBVzSv" style="font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Beginning balance">563</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zdUXCawnoODj" style="font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Beginning balance">116.0425</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zpzRyrBRWXh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Shares Granted, Vested">(348</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zKKAIix8Wt8i" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Grant Date Fair Value, Vested">113.2040</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zf3VfM3tn2dg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Ending balance">215</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zxqUWwOWDvsi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Ending balance">120.6310</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F07_zu7PrufoQbY3">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F10_ztiOyDA7eT93">The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> 0.25 0.0625 0.50 86871800 20359900 2482051 581711 86871800 20359900 2482051 581711 26200000 26300000 <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zEFA2n85hQUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group uses binomial option pricing model and adopts fair value per share of ordinary share to determine fair value of the share-based awards. The estimated fair value of each option or each restricted share granted is estimated on the date of grant using the binomial option-pricing model or fair value per share of ordinary share with the following assumptions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z8nJCSNct1i6" style="display: none">Schedule of Option Pricing Model and Adopted Fair Value Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="text-align: center; font-weight: bold">For the six months ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30,</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Options</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">Fair value per share (US$)*</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20250630__srt--RangeAxis__srt--MinimumMember_fKg_____zNnXufSZaT0j" title="Fair value per share (US$)*">23.80</span>~<span id="xdx_90B_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20250630__srt--RangeAxis__srt--MaximumMember_fKg_____zGKQiMUJGlNg" title="Fair value per share (US$)*">26.60</span></span></p></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_908_eus-gaap--OptionContractIndexedToEquitySettlementShareFairValuePerShare_iI_pid_uUSDPShares_c20260630_fKg_____zUFDSr6lziJa" title="Fair value per share (US$)*">27.44</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discount rate (after tax)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MinimumMember_zxB0POic1hsb" title="Risk-free interest rate">4.23</span>%~<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MaximumMember_zWwdhIMEVeAi" title="Risk-free interest rate">4.24</span>%</span></p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630_zn8QpXqar0Gk" title="Risk-free interest rate">4.30</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MinimumMember_zXEA2oUZ4DSc" title="Expected volatility">59.65</span>%~<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20250101__20250630__srt--RangeAxis__srt--MaximumMember_zfD0ttD1GY27" title="Expected volatility">60.29</span>%</span></p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630_zS2DKrpokF2g" title="Expected volatility">73.05</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contractual term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250630_zEyR4iZWwjPj" title="Contractual term (in years)">10</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630_zj2IWMpwENRl" title="Contractual term (in years)">10</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discount for lack of marketability (“DLOM”)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F04_zQp9ljaq16F4">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F18_zEc8UdCd3aZ1">The fair value of underlying ordinary shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></td></tr> </table> 23.80 26.60 27.44 0.0423 0.0424 0.0430 0.5965 0.6029 0.7305 P10Y P10Y <p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zzel9D4tKSh2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of the Company’s stock options activities for the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BA_zaThYYOZZQ4c" style="display: none">Schedule of stock options activities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">average</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">remaining</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregated</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exercise</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">contractual</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>intrinsic</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Options Outstanding*</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>price*</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>life</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>value</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consultant</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><b>RMB in</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in years)</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>thousands</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 40%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zS42VX5vDLC6" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,048</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____z74ys1p2PQTd" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1593">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20250630_fKg_____zrbg793mZtL3" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,048</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20250630_fKg_____zYewK7NBJWs9" style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Weighted Average exercise price, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2475</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20240101__20241231_zF4ybbQqgvpf" title="Weighted average remaining contractual life, Outstanding, Beginning balance">9.32</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250101__20250630_zNbHdrK7DUR9" style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right" title="Aggregated intrinsic value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7,990</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zg8GheGkQUGd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,229</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____z18ELXjOar2e" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1605">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20250630_fKg_____zQeOTbcdslXi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,229</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zI6cNcr7qCdc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueGranted_pn3n3_c20250101__20250630_zx9S5FLMs007" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1611">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zYKYcBLOmjRl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zd4h7LU9ovH1" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1615">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20250101__20250630_fKg_____zpf0kTib0tri" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zsiFtp7kpMQi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1619">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueExercised_pn3n3_c20250101__20250630_zqTJ8daqhlxj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercised"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1621">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zDRfW4mMU0Tf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(266</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zsS3hfhHP5wl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Forfeited"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1625">-</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20250630_fKg_____zWZZOVZGi6X9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(266</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630_fKg_____zc2AI8ZOM6P1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueForfeited_pn3n3_c20250101__20250630_z4PhgUcrYOmg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1631">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at June 30, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zx3LT0yOUDpj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,559</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zax7KpKkHmmb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1635">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20250630_fKg_____zMPLDtmSWvT1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,559</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630_fKg_____zBqLccPrMrL2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.8065</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20250630_zENcC8ysOBFa" title="Weighted average remaining contractual life, Outstanding, Ending balance">9.01</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250101__20250630_zOxxkUh60uDk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8,052</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of June 30, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zuZR7Uw5HHM5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zYJH2quqBtp8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1647">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20250630_fKg_____z7Pq9CoayDO2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding,Total, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,752</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630_fKg_____zi0jSk9wQZYf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.4550</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20250101__20250630_zZH4HFd9gu8h" title="Weighted average remaining contractual life, Exercisable, Ending balance">8.92</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20250101__20250630_z7Xbfv4h2QB7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4,672</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zYzhs1QLTEM7" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,383</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zMMw8ag72BBi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630_fKg_____zjUJXl97UJA2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,689</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630_fKg_____zwYSLYV73cD" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7530</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20251231_zmnBB4V2P5Hj" title="Weighted average remaining contractual life, Outstanding, Beginning balance">8.81</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20260101__20260630_zDdIdAMGVie2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,332</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zw2iqiVKctP5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____ziiyf2MdZlOj" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1671">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630_fKg_____zaI2PXyT4Zve" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_fKg_____zLpRiJyr51fl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueGranted_pn3n3_c20260101__20260630_zw7FjmLT7xW8" style="font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Granted"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zfEZvGAHsf5b" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(601</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zgVB4iBivZe5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1681">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630_fKg_____zW10Lm3YQDda" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(601</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_fKg_____zEXoiXWqOru5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5000</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAggregatedIntrinsicValueForfeited_pn3n3_c20260101__20260630_zfTkMcPESXPa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Forfeited"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1687">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zGdgTS3bjvLg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46,611</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zluUhBkt1thc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630_fKg_____zUXUIHm88mHc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Total, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58,917</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_fKg_____zuMDZLm3gQJc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7040</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630_zMnRMLq7frNg" title="Weighted average remaining contractual life, Outstanding, Ending balance">8.38</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260630_zd8mBtQPNRk9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6,364</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of June 30, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_fKg_____zLBSwwAbnXy8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Employees, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,944</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__srt--TitleOfIndividualAxis__custom--ConsultantMember_fKg_____zgOaOm1lihl6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding, Consultant, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,306</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630_fKg_____zf9Mvcd4EQ4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Number of Options Outstanding,Total, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,250</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_fKg_____zgHpI9zMSXd2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average exercise price, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9140</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20260101__20260630_zCETXIwQhcHa" title="Weighted average remaining contractual life, Exercisable, Ending balance">8.45</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20260101__20260630_zUF87MAL1xff" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Aggregated intrinsic value, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,461</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F03_zpnHg7zGP5Bk">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F10_zb8boU9mfcxg">The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></p></td></tr> </table> 40048 40048 6.2475 P9Y3M25D 7990000 9229 9229 3.5000 1452 1452 266 266 3.5000 47559 47559 5.8065 P9Y3D 8052000 27752 27752 7.4550 P8Y11M1D 4672000 44383 12306 56689 4.7530 P8Y9M21D 10332000 2829 2829 3.5000 601 601 3.5000 46611 12306 58917 4.7040 P8Y4M17D 6364000 37944 12306 50250 4.9140 P8Y5M12D 5461000 750.5330 104.7690 2.9934 575.6151 84.8352 1452 <p id="xdx_899_eus-gaap--ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_z3AaIqvRxUrk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the summary of restricted share activities for the six months ended June 30, 2025 and 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zCeVWwgGc3j9" style="display: none">Schedule of restricted share activities</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96.5%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"><b>Number of</b></td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted-Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Restricted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Grant Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares Granted*</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value*</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(US$)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">Unvested as of January 1, 2025</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zBFt8wNGzor3" style="width: 16%; font-weight: bold; text-align: right">3,057</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____z7Jad0dIhjPc" style="width: 16%; font-weight: bold; text-align: right">164.1640</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Awarded</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zTvfB1XmA3b6" style="text-align: right" title="Number of Restricted Shares Granted, Awarded">37,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zPcdhZ3Uh4Il" style="text-align: right" title="Weighted-Average Grant Date Fair Value, Awarded">30.2925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zwUANnwDrbhe" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Shares Granted, Vested">(39,392</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zl0PlpmpJ1lf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Grant Date Fair Value, Vested">34.8285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold">Outstanding at June 30, 2025</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zzA55rOhKYca" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Ending balance">1,575</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zbN6xX75GUjf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Ending balance">176.1795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><b>Unvested as of January 1, 2026</b></td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zj8qtIBVzSv" style="font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Beginning balance">563</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zdUXCawnoODj" style="font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Beginning balance">116.0425</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zpzRyrBRWXh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Shares Granted, Vested">(348</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zKKAIix8Wt8i" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Grant Date Fair Value, Vested">113.2040</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zf3VfM3tn2dg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Restricted Shares Granted, Unvested, Ending balance">215</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_fKg_____zxqUWwOWDvsi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Grant Date Fair Value, Unvested, Ending balance">120.6310</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F07_zu7PrufoQbY3">*</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i id="xdx_F10_ztiOyDA7eT93">The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15).</i></span></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> 3057 164.1640 37910 30.2925 39392 34.8285 1575 176.1795 563 116.0425 348 113.2040 215 120.6310 <p id="xdx_80D_eus-gaap--EarningsPerShareTextBlock_zejhyZfHerz" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_829_zGlIsuQReMPk">Net loss per share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--ShareConsolidationDescription_pid_c20260101__20260630_zGr2w6MRENU6" title="Share consolidation description">On May 28, 2026, the Board has approved and recommended to the shareholders to consider a share consolidation whereby every thirty-five issued and unissued Class A ordinary shares and Class B ordinary shares, par value US$0.00001 each, in authorized share capital of the Company be consolidated into one consolidated Class A ordinary shares and Class B ordinary shares, par value US$0.00035 each, respectively (the “Share Consolidation”). Immediately following the effective time of the Share Consolidation, the authorized share capital of the Company shall be changed from US$50,000 divided into 4,000,000,000 Class A ordinary shares of US$0.00001 par value each and 1,000,000,000 Class B ordinary shares of US$0.00001 par value each, to US$50,000 divided into 114,285,714 consolidated Class A ordinary shares of US$0.00035 par value each and 28,571,429 consolidated Class B ordinary shares of US$0.00035 par value each. An extraordinary general meeting of shareholders (the “EGM”) of the Company was held on June 12, 2026. At the EGM, shareholders of the Company approved the resolution of Share Consolidation. The Share Consolidation has been effective on July 20, 2026. The shares and pre-share data are retrospectively adjusted to reflect the Share Consolidation for all periods presented.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As retrospectively adjusted upon the Share Consolidation, there were <span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_zgSz2vZBt9F8" title="Ordinary shares, shares outstanding">1,840,673</span> and <span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_zBHtSMxI4g49" title="Ordinary shares, shares outstanding">1,840,759</span> Class A ordinary shares, <span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_zfMBBz6YUHs3" title="Ordinary shares, shares outstanding">531,329</span> and <span id="xdx_909_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_z2bwJn23abY8" title="Ordinary shares, shares outstanding">531,329</span> Class B ordinary shares outstanding as of December 31, 2025 and June 30, 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 16.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. Net loss per share (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zJDK1JMvgMkc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of basic and diluted net loss per share for the six months ended June 30, 2025 and 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zjj2FsNdyIS7" style="display: none">Schedule of Basic and Diluted Net Loss Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250101__20250630_zx1dLeBzsK4a" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zY9yHRXdyb9d" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--NumeratorAbstract_iB_zD9rt97L5PU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_i01_pn3n3_z4oGHd6R8eJj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; width: 60%; text-align: justify">Net loss</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(25,568</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(44,057</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_pn3n3_zQWhav9PgKgb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: justify">Net loss attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(25,568</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(44,057</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_zXECmdPKYc2g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Weighted average number of ordinary shares outstanding, basic (retrospectively adjusted for effect of the Share Consolidation)*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,348,249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,372,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_i01_pid_z3QnVfMB1rPa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average number of ordinary shares outstanding, diluted (retrospectively adjusted for effect of the Share Consolidation)<span id="xdx_F4C_zLo3EynYsfKh">*</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,348,249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,372,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EarningsPerShareBasic_i01_pid_zR6UuV5HGZa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: justify">Basic net loss per share attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(10.89</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(18.57</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EarningsPerShareDiluted_i01_pid_zUcG4CV0UIhj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: justify">Diluted net loss per share attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(10.89</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(18.57</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zBHfw0vUYGP4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zBLqPIOUkvri" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2025 and 2026, the Company had potential ordinary shares, including restricted shares and share options. On a weighted average basis, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_pid_c20250101__20250630_zz0dkm0br7g5" title="Restricted shares">2,322</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_pid_c20260101__20260630_zACGB2F0BUvc" title="Restricted shares">215</span> restricted shares, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630_z9KyA8M69Ly5" title="Anti-dilutive effect">43,856</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630_zKIvxo1oBCai" title="Anti-dilutive effect">57,509</span> share options were excluded from the computation of diluted net loss per ordinary share because including them would have had an anti-dilutive effect for the six months ended June 30, 2025 and 2026, respectively.</span></td></tr> </table> <p id="xdx_8AF_zyj8GsbkvoTf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> On May 28, 2026, the Board has approved and recommended to the shareholders to consider a share consolidation whereby every thirty-five issued and unissued Class A ordinary shares and Class B ordinary shares, par value US$0.00001 each, in authorized share capital of the Company be consolidated into one consolidated Class A ordinary shares and Class B ordinary shares, par value US$0.00035 each, respectively (the “Share Consolidation”). Immediately following the effective time of the Share Consolidation, the authorized share capital of the Company shall be changed from US$50,000 divided into 4,000,000,000 Class A ordinary shares of US$0.00001 par value each and 1,000,000,000 Class B ordinary shares of US$0.00001 par value each, to US$50,000 divided into 114,285,714 consolidated Class A ordinary shares of US$0.00035 par value each and 28,571,429 consolidated Class B ordinary shares of US$0.00035 par value each. An extraordinary general meeting of shareholders (the “EGM”) of the Company was held on June 12, 2026. At the EGM, shareholders of the Company approved the resolution of Share Consolidation. The Share Consolidation has been effective on July 20, 2026. The shares and pre-share data are retrospectively adjusted to reflect the Share Consolidation for all periods presented. 1840673 1840759 531329 531329 <p id="xdx_899_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zJDK1JMvgMkc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of basic and diluted net loss per share for the six months ended June 30, 2025 and 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zjj2FsNdyIS7" style="display: none">Schedule of Basic and Diluted Net Loss Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250101__20250630_zx1dLeBzsK4a" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zY9yHRXdyb9d" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--NumeratorAbstract_iB_zD9rt97L5PU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_i01_pn3n3_z4oGHd6R8eJj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; width: 60%; text-align: justify">Net loss</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(25,568</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(44,057</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_pn3n3_zQWhav9PgKgb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: justify">Net loss attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(25,568</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(44,057</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_zXECmdPKYc2g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Weighted average number of ordinary shares outstanding, basic (retrospectively adjusted for effect of the Share Consolidation)*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,348,249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,372,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_i01_pid_z3QnVfMB1rPa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average number of ordinary shares outstanding, diluted (retrospectively adjusted for effect of the Share Consolidation)<span id="xdx_F4C_zLo3EynYsfKh">*</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,348,249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,372,032</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EarningsPerShareBasic_i01_pid_zR6UuV5HGZa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: justify">Basic net loss per share attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(10.89</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(18.57</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EarningsPerShareDiluted_i01_pid_zUcG4CV0UIhj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: justify">Diluted net loss per share attributable to the Company’s ordinary shareholders</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(10.89</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(18.57</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zBHfw0vUYGP4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F19_zBLqPIOUkvri" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2025 and 2026, the Company had potential ordinary shares, including restricted shares and share options. On a weighted average basis, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_pid_c20250101__20250630_zz0dkm0br7g5" title="Restricted shares">2,322</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_pid_c20260101__20260630_zACGB2F0BUvc" title="Restricted shares">215</span> restricted shares, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630_z9KyA8M69Ly5" title="Anti-dilutive effect">43,856</span> and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIGFuZCBEaWx1dGVkIE5ldCBMb3NzIFBlciBTaGFyZSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630_zKIvxo1oBCai" title="Anti-dilutive effect">57,509</span> share options were excluded from the computation of diluted net loss per ordinary share because including them would have had an anti-dilutive effect for the six months ended June 30, 2025 and 2026, respectively.</span></td></tr> </table> -25568000 -44057000 -25568000 -44057000 2348249 2372032 2348249 2372032 -10.89 -18.57 -10.89 -18.57 2322 215 43856 57509 <p id="xdx_809_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zy9SzS4MoEr2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82C_zqXhixElq8Wj">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Commitments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group leases office space under non-cancelable operating lease agreements, which expire at various dates through June 30, 2026. As of December 31, 2025 and June 30, 2026, future minimum lease of RMB<span id="xdx_909_ecustom--OperatingLeasesFutureMinimumPayments_iI_pn5n6_uRMB_c20251231_zxxwrtO0f9Pl" title="Future minimum lease">0.5</span> million and RMB<span id="xdx_901_ecustom--OperatingLeasesFutureMinimumPayments_iI_pn5n6_uRMB_c20260630_zU4iIBlCTc3" title="Future minimum lease">0.3</span> million under non-cancelable operating lease agreements were all due within <span id="xdx_90C_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20260630_zGk7zkpT6ybh" title="Operating lease agreements due">one year</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) Litigation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and June 30, 2026, the Group was not involved in any legal or administrative proceedings that may have a material adverse impact on the Group’s business, financial position results of operations, or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 500000 300000 P1Y <p id="xdx_809_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z54oCnK1qkoa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_82A_zQp77OcTD0lj">Related Party Balances and Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_ecustom--ScheduleOfMajorRelatedPartiesOfGroupAndTheirRelationshipsTransactionsTableTextBlock_zgZIxpRNcw0i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below sets major related parties of the Group and their relationships with the Group:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zArJpGPGPrZ4" style="display: none">Schedule of Related Parties of the Group and their Relationships</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entity or individual name</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Relationship with the Group</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fanhua Insurance Sales and Services Group Ltd. (“Fanhua Group”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20250101__20251231__us-gaap--RelatedPartyTransactionAxis__custom--FanhuaGroupMember_zWjhbYrBhUv7" title="Relationship with the Group">Shareholder of the Company</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr. Lei Zhang</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20250101__20251231__us-gaap--RelatedPartyTransactionAxis__custom--MrLeiZhangMember_zkiajVzmbeh5" title="Relationship with the Group">Founder, Chairman of the Board of Directors and CEO</span></span></td></tr> </table> <p id="xdx_8A3_zdtpJpGJRZE9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. Related Party Balances and Transactions (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zBoXoGUYAZhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The outstanding balance due to related parties as of December 31, 2025 and June 30, 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zsP2g22fBIL6" style="display: none">Schedule of Related Party Transaction</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">Balances with related parties</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_z03p9ElOw52a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260630_z26qSfh1qQe8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherLiabilitiesCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zAquhTYAAguh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; width: 60%; text-align: left">Fanhua Group <span id="xdx_F40_zGUd2M6VVMHa">(i)</span></td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">50,626</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">52,949</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilitiesCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zJK9BZfGRIM4" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt; text-align: left">Amounts due to related parties</td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">50,626</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">52,949</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivablesNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrLeiZhangMember_zwYFpvIgasv9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mr. Lei Zhang <span id="xdx_F40_zoyK5bd9GX8c" style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1825">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherReceivablesNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zOpCZetYBCE8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1828">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivablesNetCurrent_iI_zCRUF3ok5LUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left"><b>Total</b></td><td style="padding-bottom: 2.5pt"><b> </b></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b> </b></td><td style="border-bottom: Black 2.5pt double; text-align: right"><b><span style="-sec-ix-hidden: xdx2ixbrl1831">-</span></b></td><td style="padding-bottom: 2.5pt; text-align: left"><b> </b></td><td style="padding-bottom: 2.5pt"><b> </b></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b> </b></td><td style="border-bottom: Black 2.5pt double; text-align: right"><b>14,303</b></td><td style="padding-bottom: 2.5pt; text-align: left"><b> </b></td></tr> <tr id="xdx_409_eus-gaap--OtherReceivablesNetCurrent_iI_zQFY8TAL9ylg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; padding-bottom: 2.5pt; text-align: left">Amounts due from related parties</td><td style="display: none; padding-bottom: 2.5pt"><b style="display: none"> </b></td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"><b style="display: none"> </b></td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right"><b style="display: none"><span style="-sec-ix-hidden: xdx2ixbrl1834">-</span></b></td><td style="display: none; padding-bottom: 2.5pt; text-align: left"><b style="display: none"> </b></td><td style="display: none; padding-bottom: 2.5pt"><b style="display: none"> </b></td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"><b style="display: none"> </b></td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right"><b style="display: none">14,303</b></td><td style="display: none; padding-bottom: 2.5pt; text-align: left"><b style="display: none"> </b></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F0B_zokDlGNA50m1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td><td style="text-align: justify"><span id="xdx_F1E_z0ksPQUaBcob" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate borrowings from Fanhua Group</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="display: none; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F02_zV1cBRYXFakf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F1E_zskTpX08x6dg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts due from Mr. Lei Zhang</span></td> </tr></table> <p id="xdx_8AC_zQwyGIbUPQ86" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group issued a convertible loan in the principal amount of RMB<span id="xdx_904_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20171026__20171026__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zGm1mGYY8QDj">130.0</span> million to Fanhua Group with an annual interest rate of <span id="xdx_90D_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_uPure_c20171026__20171026__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zKnXWTdPCxl1">10</span>% (the “Convertible Loan”) on October 26, 2017. The due date of the Convertible Loan is October 26, 2020. Pursuant to the Convertible Loan agreement, the entire or any portion of the Convertible Loan can be converted into ordinary shares of the Company. On October 10, 2019, Fanhua Group converted the RMB<span id="xdx_902_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn5n6_c20191010__20191010__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_ztujK6QqpOg4" title="Principal amount">80.0</span> million in the principal amount of the Convertible Loan and its accrued interests of RMB<span id="xdx_908_eus-gaap--LineOfCreditFacilityIncreaseAccruedInterest_pn5n6_c20191010__20191010__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zrEUiSC0TSPb" title="Amount of accrued interest">14.1</span> million into an aggregate of <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20191010__20191010__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zalUXXcTypUf" title="Shares converted">28,684,255</span> ordinary shares of the Company, at a conversion price of US$<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_uUSDPShares_c20191010__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zT8syurllSdl" title="Conversion price">0.4766</span> per share. On the same date, Fanhua Group gave up its conversion right for the remaining balance of the Convertible Loan in accordance with a Convertible Loan Payment Plan Agreement entered by these two parties (the “Payment Plan Agreement”). Upon the conversion, Fanhua Group held <span id="xdx_907_ecustom--PercentageOfEquityInterests_pid_dp_uPure_c20191010__20191010__us-gaap--RelatedPartyTransactionAxis__custom--FanhuaGroupMember_z5Y92M3vixGc" title="Percentage of equity interest">3.4</span>% equity interest in the Group. In October 2020, the Group entered into a supplemental agreement to the Payment Plan Agreement with Fanhua Group to extend the remaining principal balance in the Convertible Loan of RMB<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_pn5n6_c20201001__20201031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zY8X32OaVz4c" title="Extent principal balance of convertible debt">50.0</span> million and corresponding interest of RMB<span id="xdx_901_ecustom--ObligationWithJointAndSeveralLiabilityArrangementCorrespondingAmount_iI_pn5n6_c20201031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zLlCotClt20e" title="Amount of corresponding interest">15.0</span> million as additional principal to October 26, 2022 (the “Corporate borrowings from Fanhua Group”). RMB<span id="xdx_90F_eus-gaap--LineOfCreditFacilityPeriodicPaymentPrincipal_pn6n6_c20201001__20201031_zR2oG3i5Y3j7" title="Aggregated principal amount">10</span> million of the aggregated principal amount of RMB<span id="xdx_90B_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_pn6n6_c20201001__20201031_zhLm3bwgdCre" title="Principal amount convertible debt">65</span> million with an annual interest rate of <span id="xdx_903_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_uPure_c20201001__20201031_zsDdCUPi5Ll2" title="Percentage of annual interest rate">10</span>% was due on January 10, 2021 and the remaining of RMB<span id="xdx_909_eus-gaap--ConvertibleDebt_iI_pn5n6_c20201031_zYSpH8WIY16e" title="Convertible loan">55.0</span> million was due on October 26, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2021, the Group repaid the aggregated principal amount of RMB<span id="xdx_90E_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20211201__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zWHMwgEdwRJ7" title="Aggregated principal amount repaid">6.3</span> million to Fanhua Group. In October 2022, the Group entered into another supplemental agreement to the Payment Plan Agreement with Fanhua Group to extend the remaining balance of the Corporate borrowings from Fanhua Group to October 26, 2024, which caused the presentation of the borrowing reclassified from current liabilities to non-current liabilities. <span id="xdx_901_eus-gaap--OtherBorrowings_iI_dn_c20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zKgach2melJ1" title="Borrowings amount">None</span> of the other terms of the Corporate borrowings from Fanhua Group had changed in the supplemental agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2023, the Group repaid the aggregated amount of RMB<span id="xdx_906_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20231201__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zRmpI2ZfcNV5" title="Aggregated principal amount repaid">12.6</span> million to Fanhua Group. As of December 31, 2023, the balance of the Corporate borrowings from Fanhua Group was RMB<span id="xdx_902_eus-gaap--OtherBorrowings_iI_pn5n6_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_ztjXtvaOzwo2" title="Borrowings amount">55.3</span> million, and the remaining balance of the Corporate borrowings from Fanhua Group will be mature on <span id="xdx_905_eus-gaap--LongTermDebtMaturityDate_iI_dd_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zRpF7KKC6Oi9" title="Maturity date">October 26, 2024</span>, which caused the presentation of the borrowing reclassified from non-current liabilitis to current liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2024, the Group repaid the aggregated principal of RMB<span id="xdx_90F_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zgo4YCnF1sr1" title="Aggregated principal amount repaid">10.0</span> million to Fanhua Group. As of December 31, 2024, the balance of the Corporate borrowings from Fanhua Group was RMB<span id="xdx_905_eus-gaap--OtherBorrowings_iI_pn5n6_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zNx78K93FFj2" title="Borrowings amount">45.8</span> million. In August 2024, the Group entered into another supplemental agreement to the Payment Plan Agreement with Fanhua Group to extend the remaining balance of the Corporate borrowings from Fanhua Group to October 26, 2026, which caused the presentation of the borrowing reclassified from current liabilities to non-current liabilities. <span id="xdx_90B_eus-gaap--OtherBorrowings_iI_dn_c20240831__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zkCCzz3OvQN7" title="Borrowings amount">None</span> of the other terms of the Corporate borrowings from Fanhua Group had changed in the supplemental agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, the balance of the Corporate borrowings from Fanhua Group was RMB<span id="xdx_90B_eus-gaap--OtherBorrowings_iI_pn5n6_c20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zn88H64dScVf" title="Other borrowings">52.9</span> million, and the remaining balance of the Corporate borrowings from Fanhua Group will be mature on <span id="xdx_90B_eus-gaap--LongTermDebtMaturityDate_iI_dd_c20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zHrbpkeoYmfi" title="Maturity date">October 26, 2026</span>, which caused the presentation of the borrowing reclassified from non-current liabilities to current liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group elected fair value option to account for the Convertible Loan and the Corporate borrowings from Fanhua Group, and recognized loss/(gain) under “Changes in fair value of amounts due to related party” and “Fair value changes of amounts due to related party due to own credit risk” in the unaudited interim condensed consolidated statements of operations and comprehensive loss of RMB<span id="xdx_90E_eus-gaap--FairValueOptionChangesInFairValueGainLoss1_iN_pn5n6_di_c20250101__20250630_zLc6tHHM7J6j" title="Changes in fair value of amounts due to related party">2.1</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and RMB<span id="xdx_90A_eus-gaap--FairValueOptionChangesInFairValueGainLoss1_iN_pn5n6_di_c20260101__20260630_zqJkMaJuNqng" title="Changes in fair value of amounts due to related party">2.3</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and RMB<span id="xdx_907_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_pn5n6_c20250101__20250630_zgwUjPhNJ7ag" title="Fair value changes of amounts due to related party due to own credit risk">0.5</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and negative RMB<span id="xdx_90E_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_pn4n6_c20260101__20260630_z4jSTQ42LGng" title="Fair value changes of amounts due to related party due to own credit risk">0.01</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million for the six months ended June 30, 2025 and 2026, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group assessed the fair value of the Corporate borrowings at each end of reporting period. The fair value measurements of the Corporate borrowings are based on significant inputs not observable in the market, and thus represent Level 3 fair value measurements. The Group utilized the following assumptions to estimate the fair value of the Corporate borrowings:</span></p> <p id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zKdXSns3md6j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zXwBsXPP0enj" style="display: none">Schedule of Estimate the Fair Value of the Corporate Borrowings</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 60%; text-align: left">Discount rate</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--FairvalueOfCorporateBorrowingsDiscountRate_pid_dp_uPure_c20250101__20251231_zSW9yiuLSohg" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Discount rate">9.20</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">%</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; text-align: left"></td><td id="xdx_98C_ecustom--FairvalueOfCorporateBorrowingsDiscountRate_pid_dp_uPure_c20260101__20260630_z39mqRMwrifb" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Discount rate">8.78</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">%</td></tr> </table> <p id="xdx_8A6_ztmA6l9vHsBa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. Related Party Balances and Transactions (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) Corporate borrowings from Fanhua Group (Continued)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--ScheduleOfCorporateBorrowingsTableTextBlock_zJb2DVMM9wp1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement of Corporate borrowings from Fanhua Group is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zp8knTzXOPDl" style="display: none">Schedule of Corporate Borrowings</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate Borrowings</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold">Balance as of January 1, 2025</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_c20250101__20250630_zLmRE6F0jTf3" style="width: 16%; font-weight: bold; text-align: right">45,811</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease_c20250101__20250630_zKwuyNcPpZjf" style="text-align: right" title="Change in fair value">2,052</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Change in other comprehensive income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome_c20250101__20250630_z6eJU1TUgMBd" style="border-bottom: Black 1pt solid; text-align: right" title="Change in other comprehensive income">453</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Balance as of June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_c20250101__20250630_zDpF8HfAmNWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,316</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance as of January 1, 2026</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_c20260101__20260630_z2Q5rJl9fio8" style="font-weight: bold; text-align: right" title="Corporate Borrowings, Beginning balance">50,626</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease_c20260101__20260630_zI87M8hRbnpe" style="text-align: right" title="Change in fair value">2,330</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Change in other comprehensive income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome_c20260101__20260630_z75gXcWV9jmi" style="border-bottom: Black 1pt solid; text-align: right" title="Change in other comprehensive income">(7</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Balance as of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_c20260101__20260630_zOG8EOJWJuwi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Corporate Borrowings, Ending balance">52,949</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zU99YnlY3TJd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) Amounts due from Mr. Lei Zhang</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 5, 2026, the Company entered into an advance funding agreement with Mr. Lei Zhang, to provide funds in an aggregate amount of RMB<span id="xdx_900_ecustom--WorkingCapitalExpenditures_iI_pn5n6_uRMB_c20260105_z38LOZ2bBtg4">13.6</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million (US$<span id="xdx_90F_ecustom--WorkingCapitalExpenditures_iI_pn5n6_uUSD_c20260105_z5PJXYzE5OK4">2.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million) for the working capital expenditures of the Company’s overseas business operations. Under the agreement, the funds could not be used for personal consumption, repayment of personal debts, or personal investment, nor may the funds be directly or indirectly on-lent to any natural person without the prior written consent of the Company. The term of use of the funds is one year, commencing from January 6, 2026 on which the funds are actually remitted to the designated bank account. The amount of US$<span id="xdx_905_eus-gaap--RepaymentsOfDebt_pn5n6_c20260914__20260914__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zimSiYfcwg28" title="Repayments of Debt">2.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million has been repaid to the Company as of the date of the issuance of the unaudited interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_ecustom--ScheduleOfMajorRelatedPartiesOfGroupAndTheirRelationshipsTransactionsTableTextBlock_zgZIxpRNcw0i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below sets major related parties of the Group and their relationships with the Group:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zArJpGPGPrZ4" style="display: none">Schedule of Related Parties of the Group and their Relationships</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entity or individual name</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Relationship with the Group</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fanhua Insurance Sales and Services Group Ltd. (“Fanhua Group”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20250101__20251231__us-gaap--RelatedPartyTransactionAxis__custom--FanhuaGroupMember_zWjhbYrBhUv7" title="Relationship with the Group">Shareholder of the Company</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr. Lei Zhang</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20250101__20251231__us-gaap--RelatedPartyTransactionAxis__custom--MrLeiZhangMember_zkiajVzmbeh5" title="Relationship with the Group">Founder, Chairman of the Board of Directors and CEO</span></span></td></tr> </table> Shareholder of the Company Founder, Chairman of the Board of Directors and CEO <p id="xdx_89F_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zBoXoGUYAZhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The outstanding balance due to related parties as of December 31, 2025 and June 30, 2026 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zsP2g22fBIL6" style="display: none">Schedule of Related Party Transaction</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">Balances with related parties</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_z03p9ElOw52a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260630_z26qSfh1qQe8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amounts due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherLiabilitiesCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zAquhTYAAguh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; width: 60%; text-align: left">Fanhua Group <span id="xdx_F40_zGUd2M6VVMHa">(i)</span></td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">50,626</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">52,949</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherLiabilitiesCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FanhuaGroupMember_zJK9BZfGRIM4" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt; text-align: left">Amounts due to related parties</td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">50,626</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">52,949</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amounts due from related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherReceivablesNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrLeiZhangMember_zwYFpvIgasv9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mr. Lei Zhang <span id="xdx_F40_zoyK5bd9GX8c" style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1825">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherReceivablesNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OthersMember_zOpCZetYBCE8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1828">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivablesNetCurrent_iI_zCRUF3ok5LUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left"><b>Total</b></td><td style="padding-bottom: 2.5pt"><b> </b></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b> </b></td><td style="border-bottom: Black 2.5pt double; text-align: right"><b><span style="-sec-ix-hidden: xdx2ixbrl1831">-</span></b></td><td style="padding-bottom: 2.5pt; text-align: left"><b> </b></td><td style="padding-bottom: 2.5pt"><b> </b></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b> </b></td><td style="border-bottom: Black 2.5pt double; text-align: right"><b>14,303</b></td><td style="padding-bottom: 2.5pt; text-align: left"><b> </b></td></tr> <tr id="xdx_409_eus-gaap--OtherReceivablesNetCurrent_iI_zQFY8TAL9ylg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; padding-bottom: 2.5pt; text-align: left">Amounts due from related parties</td><td style="display: none; padding-bottom: 2.5pt"><b style="display: none"> </b></td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"><b style="display: none"> </b></td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right"><b style="display: none"><span style="-sec-ix-hidden: xdx2ixbrl1834">-</span></b></td><td style="display: none; padding-bottom: 2.5pt; text-align: left"><b style="display: none"> </b></td><td style="display: none; padding-bottom: 2.5pt"><b style="display: none"> </b></td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"><b style="display: none"> </b></td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right"><b style="display: none">14,303</b></td><td style="display: none; padding-bottom: 2.5pt; text-align: left"><b style="display: none"> </b></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F0B_zokDlGNA50m1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td><td style="text-align: justify"><span id="xdx_F1E_z0ksPQUaBcob" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate borrowings from Fanhua Group</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="display: none; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F02_zV1cBRYXFakf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F1E_zskTpX08x6dg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts due from Mr. Lei Zhang</span></td> </tr></table> 50626000 52949000 50626000 52949000 13622000 681000 14303000 14303000 130000000.0 0.10 80000000.0 14100000 28684255 0.4766 0.034 50000000.0 15000000.0 10000000 65000000 0.10 55000000.0 6300000 0 12600000 55300000 2024-10-26 10000000.0 45800000 0 52900000 2026-10-26 -2100000 -2300000 500000 10000.00 <p id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zKdXSns3md6j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zXwBsXPP0enj" style="display: none">Schedule of Estimate the Fair Value of the Corporate Borrowings</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 60%; text-align: left">Discount rate</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--FairvalueOfCorporateBorrowingsDiscountRate_pid_dp_uPure_c20250101__20251231_zSW9yiuLSohg" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Discount rate">9.20</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">%</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; text-align: left"></td><td id="xdx_98C_ecustom--FairvalueOfCorporateBorrowingsDiscountRate_pid_dp_uPure_c20260101__20260630_z39mqRMwrifb" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Discount rate">8.78</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">%</td></tr> </table> 0.0920 0.0878 <p id="xdx_89C_ecustom--ScheduleOfCorporateBorrowingsTableTextBlock_zJb2DVMM9wp1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement of Corporate borrowings from Fanhua Group is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zp8knTzXOPDl" style="display: none">Schedule of Corporate Borrowings</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate Borrowings</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold">Balance as of January 1, 2025</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_c20250101__20250630_zLmRE6F0jTf3" style="width: 16%; font-weight: bold; text-align: right">45,811</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease_c20250101__20250630_zKwuyNcPpZjf" style="text-align: right" title="Change in fair value">2,052</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Change in other comprehensive income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome_c20250101__20250630_z6eJU1TUgMBd" style="border-bottom: Black 1pt solid; text-align: right" title="Change in other comprehensive income">453</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Balance as of June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_c20250101__20250630_zDpF8HfAmNWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">48,316</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance as of January 1, 2026</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_c20260101__20260630_z2Q5rJl9fio8" style="font-weight: bold; text-align: right" title="Corporate Borrowings, Beginning balance">50,626</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease_c20260101__20260630_zI87M8hRbnpe" style="text-align: right" title="Change in fair value">2,330</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Change in other comprehensive income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome_c20260101__20260630_z75gXcWV9jmi" style="border-bottom: Black 1pt solid; text-align: right" title="Change in other comprehensive income">(7</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-weight: bold">Balance as of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_c20260101__20260630_zOG8EOJWJuwi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Corporate Borrowings, Ending balance">52,949</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 45811000 2052000 453000 48316000 50626000 2330000 -7000 52949000 13600000 2000000.0 2000000.0 <p id="xdx_800_eus-gaap--FairValueDisclosuresTextBlock_z5vSRoB1adAc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18. <span id="xdx_821_ztGZANzmEDvb">Fair Value Measurement</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Assets and liabilities measured at fair value on a nonrecurring basis</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and June 30, 2026, the Company had no financial assets or financial liabilities that are measured at fair value on non-recurring basis. The Company measured its non-financial assets, such as its property, equipment and leasehold improvements, intangible assets, goodwill on a nonrecurring basis whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Assets and liabilities measured at fair value on a recurring basis</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measured the Corporate borrowings from Fanhua Group and warrant at fair value on a recurring basis. As the Company’s Corporate borrowings from Fanhua Group and warrant are not traded in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of the Corporate borrowings from Fanhua Group and warrant. They are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. The Company did not transfer any assets or liabilities in or out of level 3 during the six months ended June 30, 2025 and 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_z5TrqxOcCth4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zMMfEOnGOhVk" style="display: none">Schedule of Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Active Market</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Observable Input</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Unobservable Input</p></td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%">Warrant</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z8h3fC3aIA26" style="width: 12%; text-align: right" title="Active Market, Warrant">1,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z81fAWMLzRy6" style="width: 12%; font-weight: bold; text-align: right" title="Observable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1923">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPNfQ2YFYzrc" style="width: 12%; text-align: right" title="Unobservable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1925">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231_zVuC11Umala1" style="width: 12%; text-align: right" title="Warrant">1,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Corporate borrowings from Fanhua Group</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z4K16OPJjkgd" style="font-weight: bold; text-align: right" title="Active Market, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1929">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6XJvcDBmxK3" style="font-weight: bold; text-align: right" title="Observable Input, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1931">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zRg5Qot2VNy" style="text-align: right" title="Unobservable Input, Corporate borrowings from Fanhua Group">50,626</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OtherLiabilities_iI_c20251231_zXiVxZsBbDJ3" style="text-align: right" title="Corporate borrowings from Fanhua Group">50,626</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Active Market</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Observable Input</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%">Warrant</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9zztUzWT91i" style="width: 12%; text-align: right" title="Active Market, Warrant">1,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTZbAm5F6AM5" style="width: 12%; font-weight: bold; text-align: right" title="Observable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1939">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlTW4OXgu03d" style="width: 12%; text-align: right" title="Unobservable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1941">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630_z1WimSRj7ETh" style="width: 12%; text-align: right" title="Warrant">1,544</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Corporate borrowings from Fanhua Group</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z1WxoAjqq2Pb" style="font-weight: bold; text-align: right" title="Active Market, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1945">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHvawKFStSt" style="font-weight: bold; text-align: right" title="Observable Input, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1947">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zgRRjJ8NrNq" style="text-align: right" title="Unobservable Input, Corporate borrowings from Fanhua Group">52,949</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_c20260630_zoJT8SOzKcw1" style="text-align: right" title="Corporate borrowings from Fanhua Group">52,949</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AD_zyomuDMkN2n5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CHECHE GROUP INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(All amounts in thousands, except for share and per share data)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18. Fair Value Measurement (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the warrants converted from Prime Impact are measured based on the listed market price of such warrant, a Level 1 measurement. The fair value of the warrants converted from CCT are measured based on binomial option pricing model, a Level 3 measurement. Management is responsible for determining the fair value and assessing a number of factors. The valuation involves complex and subjective judgements as well as the Company’s best estimates on the valuation date. Key inputs related to the binomial option pricing model for the valuation of the fair value of warrants are: expiry date of warrant, fair market value per share as of valuation date, exercise price, risk free rate of interest, dividend yield, expected time to exercise as well as volatility.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Corporate borrowings from Fanhua Group</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group classified the Corporate borrowings from Fanhua Group as current liability and measured at fair value. The Group classifies the valuation techniques that use fair value of the principle as Level 3 of fair value measurements. Generally, there are no quoted prices in active markets and other inputs that are directly or indirectly observable in the marketplace for the Corporate borrowings from Fanhua Group during the period at the reporting date. In order to determine the fair value, the Group must use the discounted cash flow method and earning forecast as unobservable inputs other than quoted prices in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_z5TrqxOcCth4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2025 and June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zMMfEOnGOhVk" style="display: none">Schedule of Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Active Market</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Observable Input</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Unobservable Input</p></td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%">Warrant</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z8h3fC3aIA26" style="width: 12%; text-align: right" title="Active Market, Warrant">1,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z81fAWMLzRy6" style="width: 12%; font-weight: bold; text-align: right" title="Observable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1923">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPNfQ2YFYzrc" style="width: 12%; text-align: right" title="Unobservable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1925">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstanding_iI_c20251231_zVuC11Umala1" style="width: 12%; text-align: right" title="Warrant">1,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Corporate borrowings from Fanhua Group</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z4K16OPJjkgd" style="font-weight: bold; text-align: right" title="Active Market, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1929">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6XJvcDBmxK3" style="font-weight: bold; text-align: right" title="Observable Input, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1931">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherLiabilities_iI_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zRg5Qot2VNy" style="text-align: right" title="Unobservable Input, Corporate borrowings from Fanhua Group">50,626</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OtherLiabilities_iI_c20251231_zXiVxZsBbDJ3" style="text-align: right" title="Corporate borrowings from Fanhua Group">50,626</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Active Market</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Observable Input</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%">Warrant</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9zztUzWT91i" style="width: 12%; text-align: right" title="Active Market, Warrant">1,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTZbAm5F6AM5" style="width: 12%; font-weight: bold; text-align: right" title="Observable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1939">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlTW4OXgu03d" style="width: 12%; text-align: right" title="Unobservable Input, Warrant"><span style="-sec-ix-hidden: xdx2ixbrl1941">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260630_z1WimSRj7ETh" style="width: 12%; text-align: right" title="Warrant">1,544</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Corporate borrowings from Fanhua Group</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z1WxoAjqq2Pb" style="font-weight: bold; text-align: right" title="Active Market, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1945">-</span></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHvawKFStSt" style="font-weight: bold; text-align: right" title="Observable Input, Corporate borrowings from Fanhua Group"><span style="-sec-ix-hidden: xdx2ixbrl1947">-</span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilities_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zgRRjJ8NrNq" style="text-align: right" title="Unobservable Input, Corporate borrowings from Fanhua Group">52,949</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_c20260630_zoJT8SOzKcw1" style="text-align: right" title="Corporate borrowings from Fanhua Group">52,949</td><td style="text-align: left"> </td></tr> </table> 1512000 1512000 50626000 50626000 1544000 1544000 52949000 52949000 <p id="xdx_801_eus-gaap--SubsequentEventsTextBlock_zsbFiBilfQQi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19. <span id="xdx_824_z3IeWb4Z0g6e">Subsequent Events</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 9, 2026, the Company entered into a non-binding term sheet in connection with a proposed strategic investment in Long Way Fortune (“Target”), a residential solar-plus-storage business with operations currently in Australia and Singapore. The term sheet contemplates an initial 20% minority investment in the Target with the potential for the Company to increase its ownership interest in the Target to up to 51% over time, subject to agreed conditions and performance milestones. The transaction will be a stock-for-stock investment in the Target at an overall implied equity value of US$<span id="xdx_905_eus-gaap--ProceedsFromOtherEquity_pn6n6_c20260909__20260909__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z9Xva88uoKU1" title="Equity value">490</span> million, with the Company’s consideration being stock-linked and subject to a delayed schedule of release over the next few years. The term sheet is non-binding and does not obligate the Company to consummate the proposed investment.</span></p> 490000000 The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation on July 20, 2026 (Note 15). The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation on July 20, 2026 (Note 15). The shares information are presented on a retroactive basis to reflect the Share Consolidation on July 20, 2026 (Note 15). Staff advances mainly consist of business expenses advanced to employees. Service fees mainly consist of prepayment of cloud server hosting fees, directors and officers’ insurance fees and others. 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. 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. 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. 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. 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. 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.  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. 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. 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. 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. 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. 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. 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. 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. The fair value of underlying ordinary shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15). The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15). The shares is presented on a retroactive basis to reflect the Company’s Share Consolidation on July 20, 2026 (Note 15). For the six months ended June 30, 2025 and 2026, the Company had potential ordinary shares, including restricted shares and share options. On a weighted average basis, 2,322 and 215 restricted shares, and 43,856 and 57,509 share options were excluded from the computation of diluted net loss per ordinary share because including them would have had an anti-dilutive effect for the six months ended June 30, 2025 and 2026, respectively. Corporate borrowings from Fanhua Group Amounts due from Mr. Lei Zhang