Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 125

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 125
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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 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 EV OEMs
and service providers. As of December 31, 2024, we have branch headquarters in 31 cities in 20 provinces of China. We have also established
collaborative relationships with 35 insurance company groups (including the top 10 insurance company groups with combined market share of over 90%) in over 800 insurance company branch offices.

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 enterprise customers
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, 2024, we have established a service network of over 48,000 third-party brick-and-mortar auto service providers,
leasing and roadside assistance companies (compared to 47,000 and 45,000 as of December 31, 2023 and 2022). With this extensive service
network, we serve over 1,400 enterprise customers.

We have built up our business
as a digitalized, technology-driven provider of online platforms that enable and facilitate B2B services. We have secured 160 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 customers,
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, commissions