Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 2

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 2
---
14, 2023. Following the consummation of the Transaction, Goldenbridge as a wholly-owned subsidiary of SunCar Technology and the outstanding shares of Goldenbridge being converted into the right to receive shares of SunCar Technology, the combined company will retain the SunCar Technology name. SunCar was determined to be the accounting acquirer given it effectively controlled the combined entity after the Transaction. The Transaction is not a business combination because Goldenbridge was not a business. The Transaction is accounted for as a reverse recapitalization, which is equivalent to the issuance of shares by SunCar for the net monetary assets of the Company, accompanied by a recapitalization. SunCar is determined as the accounting acquirer and the historical financial statements of SunCar became the Company’s historical financial statements, with retrospective adjustments to give effect of the reverse recapitalization. All of the Ordinary Shares and Convertible Preferred Shares of SunCar that were issued and outstanding immediately prior to the Transaction were cancelled and converted into an aggregate of 31,971,435Class A ordinary shares and 49,628,565Class B ordinary shares, which has been restated retrospectively to reflect the equity structure of the Company. The par value of ordinary shares changed from $ 0.00005to $ 0.0001, the difference of $ 3was adjusted retrospectively as in addition paid-in capital as of December 31, 2022. F-6

| Name                                                                            
 Shanghai Xuanbei Automobile Service Co., Limited (“Shanghai Xuanbei”)           
 Shanghai Shengshi Dalian Automobile Service Co., Limited (“Shengda Automobile”) |     | Date of           
 Incorporation     
 April 26, 2018    
 June 8, 2013      |     | Place of      
 Incorporation 
 PRC           
 PRC           |     | Percentage of 
 Effective     
 Ownership     | 100.00 
  84.89 | % 
 % |     | Principal Activities    
 Auto service            
 Auto service            |
|:--------------------------------------------------------------------------------|:----|:------------------|:----|:--------------|:----|:--------------|-------:|:--|:----|:------------------------|
| Sun Car Online Insurance Agency Co., Ltd. (“SUNCAR Online”)                     |     | December 5, 2007  |     | PRC           |     |               |  56.51 | % |     | Auto eInsurance service |
| Haiyan Trading (Shanghai) Co., Limited (“Haiyan