Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 28

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 28
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 commitments on purchase of private and other clouds. Total capital commitment contracted but not yet reflected in the unaudited
condensed consolidated financial statements as of September 30, 2024 was $, which was expected to be paid within year.

17. SUBSEQUENT EVENTS The Group has evaluated subsequent events through January 21, 2025, the date of issuance of the unaudited condensed consolidated financial statements, and did not identify any other subsequent events with material financial impact on the Group’s unaudited condensed consolidated financial statements. F-24 OPERATING AND FINANCIAL REVIEW AND PROSPECTS A. Operating Results You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our unaudited condensed consolidated financial statements and the related notes included elsewhere in Form 6-K. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under “Risk Factors” and elsewhere in the Form 20-F for the year ended December 31, 2023. Business Overview We are a leading cloud-based provider of digitalized enterprise auto services and auto eInsurance in China. We generate our revenue from auto service business, auto eInsurance business and technology service business. We operate our auto services business through offering customized service solutions to our enterprise clients, who are major banks, insurance companies, telecommunication companies, electric vehicle (or “EV”) original equipment manufacturers (“OEMs”) or any client who have end customers needing automotive services. These enterprise clients purchase our service solutions for the members of their reward programs or customer loyalty programs to enjoy. The auto service solutions cover over 300 types of services such as car wash, oil change, tire repair, car beautification, road assistance, flight pickup, designated driving, VIP lounge, etc. Such services are provided in collaboration with our auto service providers, which are typically third-party auto service providers. For auto eInsurance business, we primarily facilitate the sales of auto eInsurance products underwritten by major insurance companies in China. We receive commissions from these insurance companies, typically a percentage of the premium paid by insurance purchasers. We automate, streamline and implement the insurance purchasing process on our proprietary, fully online digital apps, integrating full spectrum products from leading insurers in China. We sell insurance policies through a network of over 64,000 external sales partners. These sales partners include an offline auto network with frequent exposure to car