Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 119

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4A
Chunk 119
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. Research and Development, Patents and Licenses,
etc.

For
the years ended December 31, 2022, 2023 and 2024, our research and development expenses were US$8.5 million, US$14.1 million, and US$40.2
million, respectively. Research and development expenses consist primarily of payroll and employee benefits for research and development,
employees, rental expense, utilities, and other related expenses related to designing, developing, and maintaining the technology service
platform to support its internal and external customers. We expect spending in research and development to continue to be significant
over time as SunCar plans to continue to invest in its technology and innovation to enhance customer experience and provide value to its
business partners.

D. Trend Information

Other
than as disclosed in this Report, SunCar is not aware of any trends, uncertainties, demands, commitments or events as of December 31,
2024 that are reasonably likely to have a material and adverse effect on its net revenues, income, profitability, liquidity or capital
resources, or that would cause the disclosed financial information to be not necessarily indicative of future results of operations or
financial conditions.

E. Critical Accounting Estimates

Please
see Item 5. A. “ Operating Results-Critical Accounting Estimates” above.

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES