Company: SDAWW
Filing Date: 2025-12-22
Form Type: 6-K
Source: 0001213900-25-124170
Chunk: 32

Company: SunCar Technology Group Inc.
Filing Date: 2025-12-22
Form: 6-K
Chunk 32
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 capital since Shengda Group and the Group were under common control.   For the nine months ended September 30, 2025, the Group repaid the debt owed to Shengda Group of $11.4 million. |

F-28 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

| 16. | CONCENTRATION RISK |

Financial instruments that potentially expose
the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers,
and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding
balances to determine the need for an allowance for credit losses. The Group conducts periodic reviews of the financial condition and
payment practices of its customers to minimize collection risk on accounts receivable.

The following table sets forth a summary of single
customer who represent 10% or more of the Group’s total revenue.

|                                         |     | For the nine months ended 
             September 30, |    |   |     |      |    |   |
|                                         |     |                      2024 |    |   |     | 2025 |    |   |
| Percentage of the Group’s total revenue |     |                           |    |   |     |      |    |   |
| Customer A                              |     |                           | 14 | % |     |      | 10 | % |
| Customer B                              |     |                           | 20 | % |     |      | 23 | % |
| Customer C                              |     |                           | 16 | % |     |      | 15 | % |

The following table sets forth a summary of single
customer who represent 10% or more of the Group’s total accounts receivable:

|                                               |     | December 31, |    |   |     | September 30, |    |   |
|                                               |     |         2024 |    |   |     |          2025 |    |   |
| Percentage of the Group’s accounts receivable |     |              |    |   |     |               |    |   |
| Customer D                                    |     |              | 10 | % |     |               | 12 | % |
| Customer E                                    |     |              | 22 | % |     |               | 14 | % |
| Customer