Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 96

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4A
Chunk 96
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ITEM 4A. UNRESOLVED STAFF COMMENTS

None / Not applicable.

ITEM 5. OPERATING AND FINANCIAL REVIEW AND
PROSPECTS

The business of the Company
is conducted through ASGL, the Company’s direct, wholly-owned subsidiary, and ASGL’s subsidiaries.

A. Operating Results

You should read the following
discussion and analysis of our financial condition and results of operations in conjunction with our consolidated financial statements
and the related notes included elsewhere in this annual report. This discussion contains forward-looking statements that involve risks
and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in these forward-looking
statements as a result of various factors, including those set forth under “ Risk Factors” and elsewhere in this annual report.

Business Overview

We are a leading provider
of cloud and mobile app-based auto eInsurance services, technology services, and auto services in China. We generate revenue from selling
our auto eInsurance services, technology services, and auto services.

For our auto eInsurance business,
we facilitate the sale of auto insurance products underwritten by major insurance companies in China. We receive commissions from these
insurance companies which are typically a percentage of the premium paid by the policy holder. We implement, automate, and streamline
the insurance purchasing process through our proprietary cloud and mobile apps which connect our customers to the full spectrum of products
from the leading insurers in China.

We operate our technology
services business by providing technical software and consulting related to auto eInsurance and auto services. We have built modular software
tools such as customer relationship management (CRM), order management, finance management, and visual analysis systems, which run on
our proprietary hybrid cloud platform. Our insurance sales partners and auto services providers use all or some of these online tools
to manage their daily work, allowing them the opportunity to monetize the software we have built.

We operate our auto service
business by offering customized auto services to our enterprise customers (our “auto service partners”), who include major
banks, insurance companies, and other enterprises all of whom have end customer demands for auto services. These auto services include
necessary maintenance as well as regular detailing services. Our auto services are ultimately provided to the end-consumers of our enterprise
customers by the auto service providers we select to be suppliers on our service network.

Significant Factors Impacting Financial Results

Relationships with Customers

For the auto eInsurance business,
we distribute auto insurance products on behalf of well-known insurance companies in China.