Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 7

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 7
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 operations:                                                                                                                                
  Net loss from the operations of the discontinued operations, net of tax                                               (994             -             -  
  Net loss                                                                                                           (11,899       (17,579       (64,453  

The following table presents SunCar’s summary consolidated
balance sheet data as of December 31, 2023 and 2024.

                                  As of December 31,                
                                                2023          2024  
 ────────────────────────────────────────────────────────────────────
                                  (In USD thousands)                
  Total assets                              $223,235      $246,728  
  Total liabilities                         $155,245      $180,494  
  Total shareholders’ equity                 $16,078       $11,892  
  Non-controlling interests                  $51,912       $54,342  
  Total equity                               $67,990       $66,234  

The following table presents
SunCar’s summary consolidated cash flow data for the years ended December 31, 2022, 2023 and 2024.

                                                                                    For the years ended December 31,                                                             
                                                                                    2022                                               2023                   2024               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                    (In USD thousands)                                                                           
  Net cash (used in) provided by operating activities of continuing operations      $                                     (16,092      $         (27,651      $          11,841  
  Net cash used in investing activities of continuing operations                    $                                      (5,402      $          (2,394      $         (12,147  
  Net cash provided by (used in) financing activities of continuing operations      $                                      10,636      $          40,434      $          (2,951  

B. Capitalization and Indebtedness

The following table sets
forth the capitalization of the Company as of December 31, 2024.

  As of December 31, 2024                      
 ───────────────────────────────────────────────
  Cash and cash equivalents            26,865  
  Short-term loan                      83,597  
  Amounts due to related parties       28,999  
  Total shareholders’ equity           11,892  
  Non-controlling interests            54,342  
  Total capitalization                178,830  

C. Reasons for the Offer and Use of Proceeds

Not applicable.