Company: SDAWW
Filing Date: 2025-05-21
Form Type: 6-K
Source: 0001213900-25-046449
Chunk: 10

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 10
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 could be, converted into U.S. dollars at the rates used in translation.

F-11 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITEDCONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

| (i). | Recent accounting pronouncements |

The Group is an “emerging growth company”
(“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC
can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards
apply to private companies.

In November 2023, the FASB issued ASU 2023-07,
which modifies the disclosure and presentation requirements of reportable segments. The new guidance requires the disclosure of significant
segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported
measure of segment profit and loss. In addition, the new guidance enhances interim disclosure requirements, clarifies circumstances in
which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with
a single reportable segment, and contains other disclosure requirements. The update is effective for annual periods beginning after December
15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Group has adopted
ASU2023-07 for annual periods beginning from January 1, 2024 (See Note 3).

In December 2023, the FASB issued ASU 2023-09,
Improvement to Income Tax Disclosure. This standard requires more transparency about income tax information through improvements to income
tax disclosures primarily related to the rate reconciliation and income taxes paid information. This standard also includes certain other
amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for public business entities, for annual periods
beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning
after December 15, 2025. The Group is in the process of evaluation the impact of adopting this new guidance on its consolidated financial
statement..

In November 2024, the FASB issued Accounting Standards
Update No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disag