Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 7

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 7
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 the Group controls the right to services before
the services are provided to customers and the Group has the ability to direct other parties to provide the services to customers on the
Group’s behalf. Specifically, the Group has the ability to choose service providers, is primarily responsible for the acceptability
for the service meeting customer specifications, bears inventory risk after transfer of control of services to customers, and has the
discretion in establishing the price with customers and with service providers and bears credit risk. The Group recognizes revenue in
the gross amount of consideration at a point of time when the service is provided, or when the service coupon expires. The Group does
not provide refunds to customers when a coupon is expired but not used.

F-9

Auto eInsurance Service

The Group provides auto eInsurance service distributing
primarily vehicle insurance on behalf of the insurance companies and charges insurance companies for intermediation service commissions.
Auto eInsurance services are considered to be rendered and completed, and revenue is recognized, at the time an insurance policy becomes
effective, that is, when the signed insurance policy is in place and the premium is collected from the insured. The Group has satisfied
the performance obligation to recognize revenue when the premiums are collected by the respective insurance companies and not before,
because collectability is not ensured until receipt of the premium. Accordingly, the Group does not accrue any auto eInsurance service
commission and fees prior to the receipt of the related premiums. No allowance for cancellation has been provided for intermediation services
as cancellation of policies rarely occurs.

Technology services

The Group provides technology services including
technical software and consulting related to automobile services and insurance, such as customer relationship management (CRM), order
management, finance management and visual analysis systems. The Group charges service fee based on fixed price per month for service provided
and recognizes revenue over time during the service period.

|                                       |     | For the nine months ended 
 September 30,             |    2023 |     |   |    2024 |
|:--------------------------------------|:----|:--------------------------|--------:|:----|:--|--------:|
| Revenue recognized at a point of time |     | $                         | 226,369 |     | $ | 278,663 |
| Revenue recognized over time          |     |                           |  24,094 |     |   |  34,046 |
| Revenues                              |     | $                         | 250,463 |     | $ | 312,709 |

Contract