Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 136

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 136
---
, 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, and expanded our insurance brokerage services for Tesla with premium volume growing from $400,000 to
approximately $40 million across 48 Chinese cities. With Lotus Technology, we leverage our auto e-insurance platform and extensive auto
service network to provide Lotus owners with comprehensive one-stop auto services. Our growing relationships with these technology-focused
automotive companies play a vital role in our strategy to lead the transformation of auto services in the digital age. We have also established
deep collaboration with auto dealers, starting with Chang’an Deepal dealers, by embedding our insurance systems into dealer networks
to enable them to sell new insurance products.

In 2024, we have renewed car
wash service agreements with Didi, Meituan, and