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

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 25
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 market

On February 7, 2025, the Group announced that
its board of directors has authorized a share repurchase program (the “Share Repurchase Program”) to buy back up to $ million
of its outstanding Class A ordinary shares.

F-20 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITEDCONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

The following table sets forth repurchase activity
under the Share Repurchase Program from inception through March 31, 2025:

| Periods               
 February 2025:        |     | Total           
 numbers of      
 Class A         
 Ordinary shares 
 purchased       |           |     | Average price  
 paid per       
 Class A        
 Ordinary share |      |
|:----------------------|:----|:----------------|----------:|:----|:---------------|-----:|
| Open market purchases |     |                 | 1,644,809 |     | $              | 4.99 |
| March 2025:           |     |                 |           |     |                |      |
| Open market purchases |     |                 | 1,160,258 |     | $              | 4.80 |
|                       |     |                 | 2,805,067 |     |                |      |

| 13. | TAXATION |

Cayman Islands

Under the current laws of the Cayman Islands,
the Group is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands
withholding tax will be imposed.

Hong Kong

According to Tax (Amendment) (No. 3)
Ordinance 2018 published by Hong Kong government, form April 1, 2018, under the two-tiered profits tax rates regime, the profits tax
rate for the first HKD million of assessable profits will be lowered to % (half of the rate specified in Schedule 8 to the
Inland Revenue Ordinance (IRO)) for corporations. China Auto Market was not subject to Hong Kong profit tax for any period presented
as it did not have assessable profit during the periods presented.

PRC

Generally, the Group’s subsidiaries, which
are considered PRC resident enterprises under PRC tax law, are subject to enterprise income tax (“EIT”) on their worldwide
taxable income as determined under PRC tax laws and accounting standards at a rate of %. E