Company: SDAWW
Filing Date: 2025-10-27
Form Type: 6-K
Source: 0001213900-25-102611
Chunk: 16

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 16
---
 Services Group Limited (“ASGL”) concerning an alleged breach of contractual obligations, the arbitration tribunal issued an award at the end of April, 2025 (the “Award”). The Award requires ASGL to pay GEM $2.8 million plus simple interest at 9% per annum. GEM filed an application to convert the Award to a money judgment on May 9, 2025, which is currently pending enforcement. As of June 30, 2025 and the issuance date of the consolidated financial statements, this amount remains outstanding. |

| 9. | LEASES |

The Group has entered into operating lease agreements for certain offices, which are located in PRC. The Group determines if an arrangement is a lease, or contains a lease, at inception and record the leases in the consolidated financial statements upon lease commencement, which is the date when the lessor makes the underlying asset available for use by the lessee.

The balances for the operating leases where the Group is the lessee are presented as follows within the consolidated balance sheets:

|                                          |     | 2024 | As of December 31, |     | 2025 | As of  June 30, |
|:-----------------------------------------|:----|:-----|-------------------:|:----|:-----|----------------:|
| Operating lease right-of-use assets, net |     | $    |                606 |     | $    |             359 |
| Lease liabilities, current               |     | $    |                544 |     | $    |             258 |
| Lease liabilities, non-current           |     |      |                 21 |     |      |              32 |
| Total operating lease liabilities        |     | $    |                565 |     | $    |             290 |

F-17 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

The components of lease expenses were as follows:

| Lease cost                              |     | For the six months ended 
 June 30,                 
 2024                     |     |     | 2025 |     |
|:----------------------------------------|:----|:-------------------------|----:|:----|:-----|----:|
| Amortization of right-of-use assets     |     | $                        | 392 |     |      | 430 |
| Interest of operating lease liabilities |     |