Company: SDAWW
Filing Date: 2025-02-06
Form Type: 424B5
Source: 0001213900-25-010989
Chunk: 81

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-06
Form: 424B5
Chunk 81
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 These enterprise clients purchase our service solutions for the members of their reward programs
or customer loyalty programs to enjoy. The auto service solutions cover over 300 types of services such as car wash, oil change, tire
repair, car beautification, road assistance, flight pickup, designated driving, VIP lounge, etc. They are provided in collaboration with
our auto service providers, which are typically third-party auto service providers. As of December 31, 2023, we have established a service
network of over 47,000 third-party brick-and-mortar auto service providers, leasing and roadside assistance companies (compared to 45,000
and 42,000 as of December 31, 2022 and 2021), covering over 350 cities (out of a total of approximately 690), and 33 (out of a total of
33) provinces of China. With this extensive service network, we serve over 1,400 enterprise clients.

For our auto eInsurance business, we primarily
facilitate the sales of auto eInsurance products underwritten by major insurance companies in China. We receive commissions from these
insurance companies, typically a percentage of the premium paid by insurance purchasers. We implement, automate and streamline the insurance
purchasing process on our proprietary, fully online digital apps, integrating full spectrum products from leading insurers in China. We
sell insurance policies through a network of over 64,000 external sales partners. These sales partners include an offline auto network
with frequent exposure to car owners, an online marketplace with large user traffic, and emerging NEV OEMs and service providers. As of
December 31, 2023, we have branch headquarters in 32 cities in 20 provinces of China. We have also established collaborative relationships
with 85 insurance companies (including the top 10 insurance companies with combined over 90% market share).

We have built up our business as a digitalized,
technology-driven provider of online platforms that enable and facilitate B2B services. We have secured 150 registered copyrights of computer
software . Our proprietary technology solution is centered on our multi-tenant platform and our cloud infrastructure. On the auto
services side, our digital platform provides API docking, front-end plug-in and module integration for our enterprise clients, as well
as efficient, user friendly management and operations tools for our service providers. On the auto eInsurance side, our platform empowers
our insurance company clients to manage all aspects of their business including customer orders, products,