Company: SDAWW
Filing Date: 2025-10-27
Form Type: 6-K
Source: 0001213900-25-102611
Chunk: 46

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 46
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 in foreign currencies without prior SAFE approval as long as certain routine procedural requirements are fulfilled. Therefore, our PRC subsidiaries are allowed to pay dividends in foreign currencies to us without prior SAFE approval by following certain routine procedural requirements. However, approval from or registration with competent government authorities is required where the RMB is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. The PRC government may at its discretion restrict access to foreign currencies for current account transactions in the future. Operating Activities Net cash used in operating activities for the six months ended June 30, 2025 was US$9.2 million, as compared to net loss of US$5.5 million. The difference between net loss and net cash used in operating activities was primarily attributable to (i) a non-cash adjustment of provision for credit losses of US$6.3 million, depreciation and amortization of US$3.0 million, and accrued liability of GEM litigation of US$2.8 million, (ii) an increase of accounts receivable of US$26.6 million due to the increase of revenue, (iii) an increase of prepaid expenses and other current assets of US$6.1 million due to the increase of advances to suppliers for the expansion of business, (iv) an decrease of accrued expenses and other current liability of US$2.1 million, and partially offset by an increase of accounts payable of US$18.4 million primarily due to the growth of our eInsurance and technology service business. Net cash used in operating activities for the six months ended June 30, 2024 was US$2.6 million, as compared to net loss of US$60.1 million. The difference between net loss and net cash used in operating activities was primarily attributable to (i) a non-cash adjustment of share-based compensation of US$62.8 million, (ii) an increase of accounts receivable of US$24.7 million due to the increase of sales, (iii) an increase of prepaid expenses and other current assets of US$7.5 million, offset by an increase of accounts payable of US$26.3 million, primarily due to the growth of our auto service business. Investing Activities Net cash used in investing activities for the six months ended June 30, 2025 was US$7.6 million, primarily consisting of US$5.4 million in non-current assets purchase related to the development of