Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 86

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4
Chunk 86
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 collaborate with major enterprise customers including insurance companies, banks, telecommunication companies and other companies who
have customers with after-market services and auto insurance needs and generate revenue from such collaboration to ensure stable and sustained
growth of our businesses. We believe that our ability to establish and maintain stable collaborative relationships with quality clients
is crucial to our success.

During 2024, we had collaborated
with over 1,480 enterprise customers (compared to over 1,400 in 2023 and over 1,300 in 2022) in terms of contract counterparties. We provided
auto services to different banks at their headquarters level, such as Bank of China, Industrial and Commercial Bank of China, China Merchants
Bank, China Construction Bank, Agricultural Bank of China, Bank of Communications, China CITIC Bank, and Shanghai Rural Commercial Bank,
and over 800 of their branches. We also collaborated with over 330 insurance companies such as PICC P& C, Ping An P& C, CPIC P& C
(China Pacific Insurance (Group) Co., Ltd.), China Continent Property & Casualty Insurance, and TPI, as well as other institutions
such as Walmart China, Visa, and China UnionPay during 2024. Our abilities to provide quality auto services and secure real-time data
processing have been widely recognized by our enterprise customers, as evidenced by our stable collaborations with them.

As of December 31, 2024, we
had established business relationships with 35 insurance company groups (including the top 10 insurance company groups with combined over
90% market share). Our branches had established business relationships with over 800 branches of insurance companies. These strategic
collaborations allow us to obtain more comprehensive support from our insurance company clients in terms of technology systems, business
operations and claims support and secure more favorable business terms and arrangements for us, which has enhanced our market presence.

As of December 31, 2024, we
also have established significant partnerships with leading technology companies and automotive manufacturers, particularly in the electric
vehicle (EV) sector. Our customer base includes Tesla, Xiaomi, NIO, Li Auto, XPeng, Zeekr, Leapmotor, SAIC Motor, Seres, AVATR, and other
leading EV manufacturers. We provide these clients with comprehensive solutions including customized insurance technology platforms, digital
auto services, and cloud-based software solutions. For instance, we have developed an insurance management platform for Leapmotor integrated
into their mobile app ecosystem,