Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 36

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 36
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78.8 million for the nine months ended September 30, 2023 to US$119.1 million for the nine months ended September 30, 2024, which was driven by the increasing number of insurance policy sold for the nine months ended September 30, 2024. We ranked first in terms of auto insurance premium facilitated for EVs in China. EVs’ sales have increased sharply in recent years, and thus, our auto eInsurance business expanded rapidly. Technology service.Technology service revenue increased by 41% from US$24.1 million for the nine months ended September 30, 2023 to US$34.0 million for the nine months ended September 30, 2024. With growing demands to efficiently manage their businesses, more enterprise clients are now paying for our online tools to streamline their business workflows, manage their customer relationships and automate orders processing. With the iterative upgrades of our technology, we are working on developing a SaaS model product offering and plan to gradually turn our enterprise clients into our technology customers. Through the application of Private Cloud Platform, the development process was simplified, and we can easily obtain various tools for software development, testing, operation and maintenance to strengthen software platform to increase business capacity and better serve the customers. Operating costs and expenses.Operating costs and expenses increased by 46% from US$254.0 million for the nine months ended September 30, 2023 to US$371.1 million for the nine months ended September 30, 2024. Integrated service cost.Integrated service cost increased by 14% from US$138.8 million for the nine months ended September 30, 2023 to US$158.8 million for the nine months ended September 30, 2024. The increase of integrated service costs was in line with the increase of revenue in our auto service and significant increase in the technology service. Promotional service expenses. Promotional service expenses increased by 41% from US$81.0 million for the nine months ended September 30, 2023 to US$113.8 million for the nine months ended September 30, 2024. The increase of promotional service was in line with the increase of revenue in our auto service and auto eInsurance service. Selling expenses. Selling expenses increased by 32% from US$15.7 million for the nine months ended September 30, 2023 to US$20.7 million for the nine months ended September 30, 202