Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 43

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 43
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------|:----|:----------------------|-------:|:----|:----------|:--|:----|:------|-------:|
| Lease commitment      |     | $                     |     85 |     | $         | - |     | $     |     85 |
| Capital commitment    |     | $                     |  8,480 |     | $         | - |     | $     |  8,480 |
| Short-term borrowings |     | $                     | 83,362 |     | $         | - |     | $     | 83,362 |

We recorded rental expense of US$0.7 million and US$0.7 million for the nine months ended September 30, 2023 and 2024, respectively. Other than what is disclosed above, we did not have other significant commitments, long-term obligations, or guarantees as of September 30, 2024. We also have certain capital commitments that primarily related to commitments for the purchase and installation of private cloud and other cloud systems. Total capital commitments contracted but not yet reflected in the consolidated financial statement was US$8.5 million as of September 30, 2024. All of the capital commitments will be fulfilled in the future according to the investment payment schedule. 11 Related Party Transaction Shengda Automobile Service Group Co., Limited and its subsidiaries (“Shengda Group”), owned by Mr. Ye Zaichang, the Chairman of Board of Directors, was disposed on March 1, 2022, such disposition has been completed as of that date. In addition, we were liable to Jiachen of RMB281.8 million (US$40.9 million) for the transfer of SunCar Online as of December 31, 2022. In the share purchase agreement dated March 1, 2022, we agreed to repay the debt owed to Shengda Group by full before June 1, 2023. In April 2023, we negotiated with Jiachen and consented to have an extension of payment to extend the repayment date to December 31, 2025, with an annual interest rate of 1% from June 30, 2023 to the completion of the repayment. In 2023, we repaid the debt owed to Shengda Group of US$10 million. In the first three quarters of 2024, we repaid the debt owned to Shengda Group through transfer of shares of Sun