CCG vs WDH
Cheche Group Inc. and Waterdrop Inc., side by side — 5 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | CCG | WDH |
|---|---|---|
| Revenue | CNY 3.0B | CNY 4.0B |
| Net income | CNY -17.8M | CNY 568.9M |
| Gross margin | 5.3% | · |
| Net margin | −0.6% | 14.2% |
| Return on equity | −5.0% | 11.4% |
| Diluted EPS | −CNY 0.22 | CNY 0.15 |
| Dividend / share | · | · |
| Payout ratio | · | 22.9% |
| Free cash flow | CNY -40.6M | CNY 214.3M |
| Equity | CNY 355.2M | CNY 5.2B |
| Net debt / equity | −0.13× | −0.08× |
| Current ratio | 1.23× | 2.10× |
| Revenue CAGR 5y | · | 5.6% |
| Profit CAGR 5y | · | · |
WDH bills 1.3× the revenue of CCG, and CCG closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
5 years side by side
| Fiscal year | CCG | WDH |
|---|---|---|
| FY2025 | CNY 3.0B | CNY 4.0B |
| FY2024 | CNY 3.5B | CNY 2.8B |
| FY2023 | CNY 3.3B | CNY 2.6B |
| FY2022 | CNY 2.7B | CNY 2.8B |
| FY2021 | CNY 1.7B | CNY 3.2B |
Bottom line
| Fiscal year | CCG | WDH |
|---|---|---|
| FY2025 | CNY -17.8M | CNY 568.9M |
| FY2024 | CNY -61.2M | CNY 367.5M |
| FY2023 | CNY -159.6M | CNY 167.2M |
| FY2022 | CNY -91.0M | CNY 607.7M |
| FY2021 | CNY -146.5M | CNY -1.6B |
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 967,916,000 | WDH |
| FY2024 | +CNY 701,318,000 | CCG |
| FY2023 | +CNY 670,711,000 | CCG |
| FY2022 | −CNY 122,709,000 | WDH |
| FY2021 | −CNY 1,470,510,000 | WDH |
The higher-revenue side has changed between CCG and WDH over this period. The gap has narrowed since the earliest year compared.
5 of 7 comparable fiscal years — a year missing data on either side is not counted.
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −14.8 pp | WDH |
| FY2024 | −14.4 pp | WDH |
| FY2023 | −11.1 pp | WDH |
| FY2022 | −25.1 pp | WDH |
| FY2021 | +40.7 pp | CCG |
The higher net margin has changed hands between CCG and WDH over this period.
5 of 7 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WDH's net margin has been more volatile than CCG's over the 5 comparable fiscal years — 25.6 percentage points of standard deviation against 2.7.
5 of 7 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between CCG and WDH over these 5 fiscal years — CCG led in 1 and WDH in 4.
5 of 7 comparable fiscal years — a year missing data on either side is not counted.