Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 137

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 137
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 Alipay, and signed a new car wash partnership with Douyin. We enhanced our Alipay collaboration,
extending from ‘ Car Life’ channel discounts to the ‘ Car God Card’ program. We’ve also formed a strategic
partnership with Ant Fortune to launch exclusive airport limousine services for Ant Fortune Black Card V3 members. We also provided high-end
limousine services for leading luxury brands, including Chanel, Dior, and Omega, most notably supporting Chanel’s 2024 Hangzhou
Show by providing transportation services for over 150 VIP guests.

The service providers of our
auto services business primarily include automobile service providers including car wash and beauty, maintenance, designated driver, destination
pickup, and non-accident roadside assistance and breakdown service providers through which we procure individual service providers and
sole proprietors in the auto services business. We generally pay service fees to auto service providers and contractors on a monthly basis.

During the last two years,
the top service providers of our auto services business were mainly regional auto service providers based in major cities. Our transactions
with these service providers were on an individual counterparty basis. We therefore consider each of these transacting counterparties
as a separate service provider.

Growth Strategy

We expect to keep our leading
position in both auto eInsurance and auto services markets to further organic growth. Moreover, we intend to take an active part in the
auto industry’s transformation and seek new opportunities. The key components of our growth strategy are:

Benefit from High Industry
Growth. We believe that the auto service industry and online auto insurance industry will continue to benefit from significant trends
that drive continuous growth, including growing car ownership in China. The uptrend of vehicle usage post COVID-19 can create more opportunities
for auto service and insurance orders.

Grow our customer base
and expand our service partner network. The auto market in China is highly fragmented, with the top 5 auto services providers account
for less than half the market share. We intend to leverage our business scale to further expand and connect more service partners to our
network. We believe that such expansion would also benefit our online auto insurance business since many such service partners can become
our insurance sales and referral partners. We also believe our digital system, full-spectrum services and broad geographic coverage would
help us continue growth and deepen relationships with existing clients and partners.

Continue to invest in technology. Our business is built on a cloud-based, multi-tenant digital platform to which we have continued to integrate both