Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 116

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4A
Chunk 116
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 of US$5.1 million.

Investing Activities

Net cash used in investing
activities of continuing operations for the year ended December 31, 2024 was US$12.1 million, primarily consisting of US$11.6 million
in non-current assets purchased related to the development of cloud infrastructure, and the purchase of a short-term investment of US$21.6
million, and offset by the proceeds from sale of short-term investment of US$21.7 million.

Net cash used in investing
activities of continuing operations for the year ended December 31, 2023 was US$2.4 million, primarily consisting of US$4.9 million in
software and equipment purchase, and US$1.7 million in purchase of other non-current assets, offset by proceeds from the redemption of
short-term investments of US$4.7 million.

Net cash used in investing
activities of continuing operations for the year ended December 31, 2022 was US$5.4 million, primarily consisting of US$4.4 million in
software and equipment purchases, and US$1.2 million in purchase of other non-current assets.

Financing Activities

Net cash used in financing
activities of continuing operations for the year ended December 31, 2024 was US$3.0 million, consisting primarily of repayments of short-term
bank borrowings of US$103.0 million repurchase of non-controlling interests of US$4.1 and repayments to related parties of US$1.7 million,
and offset by US$105.9 million from short-term bank borrowings.

Net cash provided by financing
activities of continuing operations for the year ended December 31, 2023 was US$40.4 million, consisting primarily of US$104.5 million
from short-term bank borrowings, proceeds from Private Placement of US$21.7 million and proceeds from issuance of ordinary shares, net
of issuance cost of US$18.5 million, offset by repayment of short-term bank borrowings of US$94.0 million and repayments of payables to
related parties of US$10.0 million.

Net cash used in the financing
activities of continuing operations for the year ended December 31, 2022 was US$10.7 million, consisting primarily of US$122.2 million
from short-term bank borrowings, offset by repayment of short-term bank borrowings of US$111.1 million.

Capital Ex