Company: SDAWW
Filing Date: 2025-05-21
Form Type: 6-K
Source: 0001213900-25-046449
Chunk: 48

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 48
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1.1 million, (ii) an increase of prepaid expenses and other current assets of US$10.0 million due to the increase of advances to suppliers for the expansion of business, (iii) an increase of accounts receivable of US$8.8 million due to the increase of sales, and partially offset by (i) an increase of accounts payable of US$9.8 million primarily due to the growth of our technology service business, (ii) increase of deferred revenue of US$1.1 million. Net cash used in operating activities for the three months March 31, 2024 was US$4.3 million, as compared to net loss of US$5.0 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$1.3 million, depreciation of US$1.1 million, (ii) an increase of prepaid expenses and other current assets of US$27.4 million due to the increase of advances to suppliers for the expansion of business, (iii) a decrease of accrued expenses and other current liabilities of US$1.4 million, and partially offset by (i) an increase of accounts payable of US$21.8 million due to the growth of our auto service business and (ii) increase of deferred revenue of US$4.9 million. Investing Activities Net cash used in investing activities for the three months ended March 31, 2025 was US$0.1 million, primarily for the purchase of short-term investment. Net cash used in investing activities for the three months ended March 31, 2024 was US$4.1 million, primarily consisting of US$21.1 million in purchase of short-term investment and US$4.2 million in purchase of other non-current assets, and offset by proceeds from the redemption of short-term investments of US$21.4 million. 11 Financing Activities Net cash provided by financing activities for the three months ended March 31, 2025 was US$23.1 million, consisting primarily of proceeds from issuance of ordinary shares, net of issuance cost of US$41.6 million and proceeds of short-term bank borrowings of US$29.5 million, and offset by repayments of from short-term bank borrowings of US$29.3 million, repurchase of shares of US$13.8 million and repayments of payables to a related party of US$5.