Company: SDAWW
Filing Date: 2025-05-21
Form Type: 6-K
Source: 0001213900-25-046449
Chunk: 3

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 3
---
 Service Co., Limited (“Shengda Automobile”) |     | June 8, 2013      |     | PRC           |     |               |  83.94 | % |     | Auto service            |
| Haiyan Trading (Shanghai) Co., Limited (“Haiyan”)                               |     | November 22, 2012 |     | PRC           |     |               | 100.00 | % |     | Holding company         |

| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

| (a). | Basis of presentation |

The accompanying consolidated financial statements
are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim
financial information, and with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”).
Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Unaudited
interim results are not necessarily indicative of the results for the full fiscal year. The accompanying unaudited condensed financial
statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the years ended
December 31, 2023 and 2024.

The unaudited condensed consolidated financial
statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the
Company and its subsidiaries have been eliminated upon consolidation. For consolidated subsidiaries where the Group’s ownership
in the subsidiary is less than %, the equity interest not held by the Group is shown as non-controlling interests.

| (b). | Basis of presentation |

The preparation of the unaudited condensed consolidated
financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet date, and the reported revenues
and expenses during the reported periods in the unaudited condensed consolidated financial statements and accompanying notes. Significant
accounting estimates include, but not limited to, the allowance for credit losses, useful lives and impairment of long-lived assets, valuation
allowances of deferred tax assets, and warrant liabilities. Changes in facts and circumstances may result in revised estimates. Actual
results could differ from those estimates, and as such, differences may be material to the unaudited condensed consolidated financial
statements.

F-7 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITEDCONDENSED