Company: SDAWW
Filing Date: 2025-05-21
Form Type: 6-K
Source: 0001213900-25-046449
Chunk: 31

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 31
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 through transfer of shares of SunCar Online at an aggregate amount of $6.2 million. The non-cash gains from the difference of repurchase price and transfer price of $4.5 million were charged to additional-paid-in capital since Shengda Group and the Group were under common control.   As of March 31, 2025, the Group repaid the debt owed to Shengda Group of $5.0 million through entering into debt offset agreement with a third party. |

| 16. | CONCENTRATION RISK |

Financial instruments that potentially expose
the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers,
and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding
balances to determine the need for an allowance for credit losses. The Group conducts periodic reviews of the financial condition and
payment practices of its customers to minimize collection risk on accounts receivable.

F-24 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 a summary of single
customers who represent 10% or more of the Group’s total revenue.

|                                         |     | For the three months ended 
                  March 31, |    |   |     |      |    |   |
|                                         |     |                       2024 |    |   |     | 2025 |    |   |
| Percentage of the Group’s total revenue |     |                            |    |   |     |      |    |   |
| Customer A                              |     |                            | 19 | % |     |      | 11 | % |
| Customer B                              |     |                            | 19 | % |     |      | 21 | % |
| Customer C                              |     |                            | 18 | % |     |      | 15 | % |

The following table sets forth a summary of single
customers who represent 10% or more of the Group’s total accounts receivable:

|                                               |     | December 31, |    |   |     | March 31, |    |   |
|                                               |     |         2024 |    |   |     |      2025 |    |   |
| Percentage of the Group’s accounts receivable |     |              |    |   |     |           |