The world-first tailored care plans address over 40 conditions, including Polycystic Ovary Syndrome (PCOS), Endometriosis, Gestational Diabetes, Preeclampsia, and more.

SAN FRANCISCO, Nov. 26, 2024 /PRNewswire/ — Stork Club, a product leader in reproductive health enterprise benefits, has introduced its pioneering Condition-Based Care Pathways. This innovative approach personalizes care by tailoring proactive, evidence-based guidance to each member’s reproductive goals, medical conditions, and chronic health needs. Delivered through the Stork Club digital platform, this program is designed to improve clinical outcomes while significantly reducing healthcare costs for both employers sponsoring care and employees.

Stork Club’s Condition-Based Care Pathways are designed to address over 40 health conditions that affect reproductive outcomes, including Polycystic Ovary Syndrome (PCOS), Endometriosis, Diabetes (Type 1, Type 2, and Gestational), Heart Disease, Preeclampsia, Postpartum Depression, Cancer, Obesity, and more. By addressing the complete health profile, including relevant conditions, Stork Club’s covered members receive holistic, proactive care guidance tailored to their unique needs.

Proactive, Personalized Care for Optimal Outcomes

Unlike traditional benefits programs that take a one-size-fits-all approach, leaving members to navigate a maze of generic options, Stork Club leads with Condition-Based Care Pathways tailored to address the complete health profile of each member. Members receive unique personalized plans consisting of care tasks such as guidance on diagnostics, symptom management, covered programs, and policies, as well as recommendations for the right top-tier provider visit, either via a video visit or an in-clinic appointment.

Members complete care tasks, such as scheduling diagnostic tests, attending video consultations, and following vetted advice directly through the Stork Club app. Integrated covered services include high-quality fertility care (for either fertility preservation or building a family), maternity care (e.g., in-person birth doulas support through pregnancy and birth), and hormone replacement therapy (HRT) for all genders (e.g., menopause or men’s health optimization).

Example: Managing Gestational Diabetes During Pregnancy

Gestational diabetes mellitus (GDM) is a common condition that, if unmanaged, increases the risk of preterm delivery and neonatal intensive care unit (NICU) admissions. Infants born to mothers with GDM have a median NICU stay of 11 days, costing employers ~ $100,000 per case. Early management of GDM reduces the risk of preterm birth by 50%, potentially saving $50,000 per case on NICU cost alone while improving the health outcomes of mother and child (JAMA Pediatrics, 2018).

Through their Stork Club’s personalized care plan, the member receives regular reminders for glucose monitoring, dietary recommendations, and virtual consultations with endocrinologists and nutritionists to help proactively reduce risk for pre-term births or lower NICU admissions and associated costs for employers while ensuring healthier pregnancies and outcomes for members.

Advancing the Future of Reproductive Care

“Stork Club has been recognized for its product innovation in the health benefits industry, consistently delivering top clinical outcomes validated by national actuaries. This excellence has driven 100% customer retention since Day 1 and an outstanding NPS of 92+ over the years. Today, we are proud to continue leading employers and their members into a new era of proactive, hyper-personalized care. Stork Club’s approach not only reduces unnecessary costs but also ensures that every member feels genuinely seen and supported, with care tailored to their unique needs, goals, and health conditions—a critical and pioneering step forward in healthcare: ” said Jeni Mayorskaya, Founder & CEO of Stork Club.

About Stork Club

Stork Club is a next-generation reproductive care benefits solution for enterprise employers that combines managed care and direct provider contracting with digital innovation to deliver hyper-personalized, high-quality reproductive health solutions within fertility, maternity, and midlife life stages. Stork Club’s clinical results have been validated by a national actuary and exceed national benchmarks. Employers choose to add Stork Club to their benefits health plan to provide more inclusive support for their people while significantly reducing overall maternity costs ($130B per year in the US). Founded in 2018 and headquartered in San Francisco, Stork Club has raised $32.7M from investors, including General Catalyst, Bowery Capital, and Slow Ventures. Trusted by leading employers worldwide, Stork Club offers care for teams in over 100 countries, with HQ in the United States.

For more information, visit www.joinstorkclub.com

Media Contact
Madeline Jaime, Marketing
Manager
madeline@joinstorkclub.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/stork-club-launches-industry-first-condition-based-care-pathways-pioneering-personalization-of-reproductive-care-to-improve-health-outcomes-and-reduce-employer-costs-302315982.html

SOURCE Stork Club Fertility, Inc

FRANKFURT, Germany, Nov. 26, 2024 /PRNewswire/ — Creality proudly participated in Formnext 2024, continuing its tradition of excellence as a long-standing exhibitor at one of the world’s premier trade fairs for additive manufacturing. This year, Creality highlighted its unwavering commitment to innovation and collaboration, showcasing a diverse range of 3D printing solutions tailored for various applications.

Comprehensive Product Showcase

Creality presented a comprehensive lineup of products that reflect its dedication to meeting the needs of both hobbyists and professionals. The showcase included the flagship K Series, recent and upcoming gantry models, cutting-edge industrial solutions from its PioCreat arm, and innovative ecosystem products.

K2 Plus Combo Boosting Creality’s Flagship Series

The K2 Plus Combo stands out as a groundbreaking addition to the K1 Series in Creality’s flagship lineup, featuring a generous build volume of 350mm³. This model leverages the comprehensive Creality Filament System (CFS), enabling high-speed multi-filament 3D printing with support for stunning 16-color outputs. Key features include RFID-enabled automatic filament identification and an intuitive automatic loading and unloading system, ensuring seamless operation. With precision engineering, active chamber heating, and powered by Creality OS and Edge AI technology, the K2 Plus delivers unmatched print quality and intelligent monitoring.

DIY at the Heart of Creality

Debuting at Formnext, the Ender-5 Max, designed for professional use, features a rigid all-metal frame, 36-point auto bed leveling, and an enormous build volume of 400mm³. With industry-leading speeds of up to 700mm/s, it’s tailored for print farms with multi-printer management capabilities. 

The Ender-3 V3 Plus introduces a spacious 300x300x330mm build area with an advanced CoreXZ structure, facilitating faster prints and superior quality. Its next-generation extrusion system and efficient cooling allow for a wide range of filament compatibility. Features like automatic bed leveling and a user-friendly touchscreen make it ideal for all users. The compact version of the V3 Plus, the Ender-3 V3 features dual motors for enhanced speeds and a powerful cooling system, achieving speeds of up to 600mm/s while maintaining excellent print quality.

Both the Ender-3 V3 Plus and Ender-3 V3 will soon be integrating Co Print component for multi-filament printing. 

Halot-Mage S: Riding the Wave of Resin Printing

A top-of-the-line resin printer, the Halot-Mage S boasts a 10.1″ 14K mono LCD, delivering exceptional precision and print speeds of up to 150mm/h. The uniform integral light source ensures sharp prints, while Smart HALOT OS allows for remote printing capabilities.

Upgrading the Ecosystem

With features like materials auto recognition, a pre-set camera for easy operation, and compact design, the Falcon A1 guarantees 100% success with no assembly required. It’s safe for home use and operates at speeds up to 600mm/s.

The pinnacle of Creality’s scanning technology, Creality RaptorX features 34 blue cross-laser lines and achieves scanning precision of up to 0.02 mm, capable of handling objects from 5 to 4000 mm in size. Its modular design and compatibility with a wireless handle enhance portability, making it an ideal tool for professionals.

Creality also highlighted a variety of new materials that enhance the capabilities of its 3D printing solutions. The array of advanced filaments include high-speed Rainbow PLA designed for vibrant, multi-color prints, with excellent mechanical properties, Hyper PETG which offers high impact strength, transparency, and chemical resistance making it ideal for outdoor models, and PPA-CF, a high-temperature nylon filament reinforced with carbon fibers intended for strength and minimal warping and suitable for industrial applications, as well as Soleyin PLA, a vibrant, high-speed PLA filament that is safe and environmentally friendly.

Apart from filaments, innovative resins were also presented, featuring high-performance and high-compatibility Halot Rigid Resin, Plant-Based Resin which is eco-friendly and easy-to-clean, and versatile ABS-Like Resin 2.0, combining fast speed and high toughness, as well as low-odor, high-precision Water Wash Resin 2.0.

Industrial Solutions – PioCreat

Creality’s industrial arm, PioCreat, showcased innovations tailored for the dental industry and large-scale applications. The DJ89 PLUS resin printer features an integral light source for 90% light uniformity, an 8K 10.3″ LCD, and automatic feeding for precise production. The G12 FGF Pellet 3D Printer offers large-format capabilities with a build volume of 1200×1000×1000mm, making it perfect for molds and prototypes. The G5Ultra, with a 500×500×400mm build volume, uses cost-effective thermoplastic pellet feedstock, ideal for educational and research purposes.

Engaging Attendees and Partners

Creality’s presence at Formnext also featured an interactive “Life is Colorful, Just Like You” social media campaign, where attendees experienced Creality products firsthand and received vibrant 3D-printed souvenirs. Interacting with multiple brands, Creality also has put its full range of models out across the fair, with the E3V3, K1C, K1 Max and K2 Plus being seen at the booths of Sunlu, Kexcelled, Keli, Basf and eSUN.

Besides collaborating with influencers for live streaming to enhance outreach and engagement with the audience, Creality received interviews with media representatives from All3DP and 3Dnatives, sharing the company’s commitment to the community and outlook into the future.

Commitment to the Global Market

In his closing statement, Mr. TANG Jingke, Co-founder of Creality, underscored the company’s strong commitment to the European market, emphasizing Creality’s growing presence and focus on fostering innovation within the region. “Our participation at Formnext highlights not only our dedication to advancing 3D printing technology but also our deepened engagement with Europe’s vibrant manufacturing and technology sectors. We are excited to strengthen our partnerships across the wider world and continue contributing to the region’s leadership in 3D printing innovation. As we expand our offerings, we look forward to building closer collaborations with the global community and driving the future of 3D printing together.”

For more information about Creality’s products and innovations, please visit Creality’s official website.

media contact: brand@creality.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/creality-shines-at-formnext-2024-showcasing-k2-plus-new-corexy-model-and-accessories-302316026.html

SOURCE CREALITY 3D

BEIJING, Nov. 26, 2024 /PRNewswire/ — Cheche Group Inc. (NASDAQ: CCG) (“Cheche”, the “Company” or “we”), China’s leading auto insurance technology platform, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Financial and Operational Highlights

Net Revenues for the quarter increased 3.3% year-over-year to RMB850.5 million (US$121.2 million), while net revenues for the first nine months of 2024 increased 2.3% over the comparable prior year period to RMB2.5 billion (US$354.8 million). Net Income for the quarter was RMB4.1 million (US$0.6 million), compared to a net loss of RMB55.4 million for the prior-year quarter, while net loss for the first nine months of 2024 decreased 60.2% to RMB50.8 million (US$7.2 million) over the prior-year period.Adjusted Net Income (1) for the quarter was RMB2.6 million (US$0.4 million), compared to an adjusted net loss of RMB0.6 million for the prior-year quarter, while adjusted net loss for the first nine months of 2024 decreased 23.0% to RMB21.8 million (US$3.1 million), compared to the prior-year period.Total written premiums placed for the quarter increased 4.0% to RMB5.9 billion (US$0.8 billion) compared to the prior-year period, while total written premiums placed for the first nine months of 2024 increased 4.1% over the comparable prior-year period to RMB16.9 billion (US$2.4 billion).Total number of policies issued for the quarter increased 5.0% to 4.2 million from 4.0 million for the prior-year quarter, while the total number of policies issued over the first nine months of 2024 increased 11.9% over the comparable prior-year period to 12.2 million.Partnerships with New Energy Vehicle (NEV) companies (2) numbered 14 in the quarter and led to 292,000 embedded policies with corresponding written premium of RMB884.2 million (US$126.0 million), representing an increase of 149.6% and 121.6 % compared to the prior-year quarter, respectively. Embedded policies and corresponding written premium for the first nine months of 2024 reached 636,000 and RMB1.9 billion (US$273.2 million), respectively, representing growth of 144.6 % for policies embedded and 104.2% for written premium compared to the prior-year period.

Management Comments

“We are proud to announce that Cheche reported net income profitability for the first time on both a GAAP and adjusted net income basis. This quarter’s milestone substantiates the merit of our business model and the growing conviction in our value proposition,” said Lei Zhang, Founder, CEO, and Chairman of Cheche Group. “We continue to work with both NEV manufacturers and insurers to leverage advanced data analysis, delivering tools that will reward responsible drivers, reduce fraud, and bring efficiencies to claims processing to support profitability, transparency, and affordability as the transition to automated mobility accelerates.

Mr. Zhang continued, “With China producing 48% more NEVs in September over the prior year, according to China Association of Automobile Manufacturers, and NEV sales again surpassing traditional fuel car sales in the same month, our innovative platform will continue to meet the evolving insurance needs of car owners, manufacturers, and insurers.”

Unaudited Third Quarter 2024 Financial Results

Net Revenues were RMB850.5 million (US$121.2 million), representing a 3.3% year-over-year increase from the prior-year quarter. The growth was driven by increased insurance transactions conducted through Cheche’s platform by referral and third-party platform partners.

Cost of Revenues increased 3.0% year-over-year to RMB808.1 million (US$115.2 million) from the prior-year quarter, consistent with the growth of business volume and net revenues.

Selling and Marketing Expenses decreased 53.6% to RMB18.1 million (US$2.6 million) from RMB39.0 million in the prior-year quarter, mainly due to the decrease in share-based compensation expenses and staff cost. Excluding share-based compensation expenses, selling and marketing expenses were RMB17.4 million (US$2.5 million), a decrease of 6.5% compared to the prior-year quarter.

General and Administrative Expenses decreased 41.3% to RMB20.4 million (US$2.9 million) from RMB34.8 million for the prior-year quarter, mainly due to the decrease in share-based compensation and professional service fees. Excluding share-based compensation and listing-related professional service fees, general and administrative expenses increased by RMB3.5 million from RMB15.0 million to RMB18.5 million (US$2.6 million), primarily due to the increase of post-listing professional service fees. 

Research and Development Expenses decreased 24.5% to RMB10.2 million (US$1.4 million) from RMB13.5 million in the prior-year quarter. The change was mainly due to decreased share-based compensation expenses, partially offset by the increase of staff costs. Excluding share-based compensation expenses, research and development expenses decreased 8.8% to RMB9.8 million (US$1.4 million) from RMB10.8 million in the prior-year quarter.

Total Cost and Operating Expenses decreased by 1.8% to RMB856.8 million (US$122.1 million) from RMB872.0 million in the prior-year quarter, mainly due to the increased cost of revenues and the decrease in share-based compensation expenses. Excluding share-based compensation expenses, amortization of intangible assets related to the acquisition and listing-related professional service fees, total cost and operating expenses increased by 3.0% from the prior-year quarter.

Net Income for the quarter was RMB4.1 million (US$0.6 million), compared to a net loss of RMB55.4 million for the prior-year quarter. Excluding non-GAAP expenses, the Adjusted Net Income (1) for the quarter was RMB2.6 million (US$0.4 million), due to the improvement of operating results and the positive impact from foreign exchange rates, compared to an adjusted net loss of RMB0.6 million for the prior-year quarter. 

Net Income attributable to Cheche’s shareholders was RMB4.1 million (US$0.6 million), compared to a net loss attributable to Cheche’s shareholders of RMB707.6 million for the prior-year quarter.

Adjusted Net Income attributable to Cheche’s shareholders was RMB2.6 million (US$0.4 million), compared to an adjusted net loss attributable to Cheche’s shareholders of RMB652.7 million for the prior-year quarter.

Net Income Per Share, basic and diluted, was RMB0.05 (US$0.01), compared to a net loss per share of RMB17.52, basic and diluted, for the prior-year quarter.

Adjusted Net Income Per Share, basic and diluted, was RMB0.03 (US$0.00), compared to an adjusted net loss per share of RMB16.16, basic and diluted, for the prior-year quarter.

3Q24 and Subsequent Business Highlights

On September 3, 2024, Cheche announced a partnership with Shanghai Jidu Automobile Company Limited (“JI YUE“) to further diversify its partner network with leaders in the NEV industry. Cheche successfully launched a system for JI YUE, creating channels for online and offline purchasing of auto and non-auto insurance products. The system is integrated into Cheche’s core platform and is equipped with resources to grow and strengthen JI YUE’s sales channels and enhance account settlement capabilities, among other functionalities.On September 12, 2024, Cheche announced a partnership with Laoyou Insurance Brokerage Co., Ltd. (“Laoyou Insurance”), a wholly controlled subsidiary of Great Wall Motor Company Limited (“GWM”), a top ten Chinese auto manufacturer. Cheche’s insurance solutions and mature transaction system have been gradually rolled out with GWM’s newly established direct-sales network in more than 20 cities nationwide. Cheche plans to develop a comprehensive insurance solution tailored for traditional automakers within one to two years.On October 1, 2024, Cheche announced a strategic partnership with The Tokio Marine & Nichido Fire Insurance Company (China) Limited (“TMNCH”), as Cheche continues to broaden its collaborations with insurance companies in China. Leveraging each other’s strengths, the two companies are working to develop specialized insurance products, services, and sales strategies. Cheche’s agreement with TMNCH is two pronged. This collaboration will enhance Cheche’s insurance service capabilities while offering increased scale for traditional automotive companies and pave the way for future partnerships with Japanese automotive companies.

Balance Sheet 

As of September 30, 2024, the Company had RMB194.6 million (US$27.7 million) in total cash, cash equivalents and short-term investments.

Business Outlook

Cheche is affirming its full-year 2024 outlook:

Net Revenues are expected to range from RMB3.5 billion to RMB3.7 billion, representing an increase of 6.1% to 12.1%, compared to the full year of 2023.Total written premiums placed are expected to range from RMB24.5 billion to RMB26.5 billion, representing an increase of 8.4% to 17.3%, compared to the full year of 2023.

Conference Call

Cheche will host a webcast and conference call to discuss its third quarter 2024 results today at 8:00 a.m. EST. This earnings release and a related investor deck will be available prior to the event in the “Quarterly Results” section under “Financials,” while the live webcast will be available in the “Events” section under the “News & Events” header on the investor relations website at ir.chechegroup.com.

The dial-in numbers for the conference call will be as follows:

Participant (toll-free): 1-888-346-8982Participant (international): 1-412-902-4272Hong Kong LT:  852-301-84992Hong Kong Toll Free:  800-905945China Toll-Free:  4001-201203

Please dial in 10 to 15 minutes before the scheduled start time and request Cheche’s third quarter earnings call.

A webcast replay will be available for one year following the call.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the reader’s convenience. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referenced could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

About Cheche Group Inc.

Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en.

Cheche Group Inc.:

IR@chechegroup.com

Crocker Coulson
crocker.coulson@aummedia.org
(646) 652-7185

Non-GAAP Financial Measures 

Cheche has provided non-GAAP financial measures in this press release that have not been prepared in accordance with generally accepted accounting principles (GAAP) in the United States.

Cheche uses adjusted cost of revenues, adjusted selling and marketing expenses, adjusted general and administrative expenses, adjusted research and development expenses, adjusted total cost and operating expenses, adjusted net loss/income, and adjusted net loss/income per share, which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. 

Cheche defines adjusted total cost and operating expenses as total cost and operating expenses adjusted for the impact of share-based compensation, amortization of intangible assets related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), listing-related professional service fees and dispute resolution expenses, representing expenses Cheche incurred in a dispute with a certain security holder. Cheche defines adjusted net loss/income as net loss/income adjusted for the impact of share-based compensation expenses, amortization of intangible assets, and changes in fair value of amounts due to a related party related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), change in fair value of warrants, listing related professional service fees and dispute resolution expenses. Adjusted net loss/income per share, basic and diluted, is calculated as adjusted net loss/income divided by weighted-average ordinary shares outstanding.

Cheche believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the impact of share-based compensation expenses, amortization of intangible assets related to acquisition, and change in fair value of amounts due to a related party associated with the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), change in fair value of warrants, and listing related professional service fees and dispute resolution expenses. Cheche believes that such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP nor presented in accordance with U.S. GAAP. They should not be considered in isolation or construed as alternatives to net loss /income or any other measure of performance or as an indicator of Cheche’s operating performance. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Cheche encourages investors and others to review the Company’s financial information in its entirety and not rely on a single financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP measures. Cheche mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating its performance.

Safe Harbor Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimations, and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, the Company’s advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company’s actual results, activity levels, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/cheche-group-reports-third-quarter-2024-unaudited-financial-results-302316388.html

SOURCE Cheche Group Inc.