Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 75

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4
Chunk 75
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Since our inception in 2007,
we have amassed ample experience in perceiving and serving the expanding needs of China’s automobile owners. Rising with the increasing
prevalence of the mobile internet in China, we introduced online apps for our insurance and auto business in 2014 and 2015, respectively.
We have built comprehensive digital systems for both of our auto service and our auto eInsurance business segments, centered on our multi-tenant,
cloud-based platform which empowers our customers and service providers to optimally access and manage the types of services and insurance
they desire.

For our auto eInsurance business,
we facilitate the sale of auto insurance products underwritten by major insurance companies in China. We receive commissions from these
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 202