Company: SDAWW
Filing Date: 2025-05-21
Form Type: 6-K
Source: 0001213900-25-046449
Chunk: 2

Company: SunCar Technology Group Inc.
Filing Date: 2025-05-21
Form: 6-K
Chunk 2
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 SunCar Technology name.

SunCar was determined to be the accounting acquirer
given it effectively controlled the combined entity after the Transaction. The Transaction is not a business combination because Goldenbridge
was not a business. The Transaction is accounted for as a reverse recapitalization, which is equivalent to the issuance of shares by SunCar
for the net monetary assets of the Company, accompanied by a recapitalization. SunCar is determined as the accounting acquirer and the
historical financial statements of SunCar became the Company’s historical financial statements, with retrospective adjustments to
give effect of the reverse recapitalization. All of the Ordinary Shares and Convertible Preferred Shares of SunCar that were issued and
outstanding immediately prior to the Transaction were cancelled and converted into an aggregate of Class A ordinary shares
and Class B ordinary shares, which has been restated retrospectively to reflect the equity structure of the Company. The par
value of ordinary shares changed from $ to $, the difference of $ was adjusted retrospectively as in addition paid-in
capital as of December 31, 2022.

F-6 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITEDCONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

As of March 31, 2025, SunCar’s major
subsidiaries are as follows:

| Name                                                                            
 Sun Car Online Insurance Agency Co., Ltd. (“SUNCAR Online”)                     |     | Date of           
 Incorporation     
 December 5, 2007  |     | Place of      
 Incorporation 
 PRC           |     | Percentage of 
 Effective     
 Ownership     |  56.33 | % |     | Principal Activities    
 Auto eInsurance service |
|:--------------------------------------------------------------------------------|:----|:------------------|:----|:--------------|:----|:--------------|-------:|:--|:----|:------------------------|
| Shanghai Feiyou Trading Co., Limited (“Shanghai Feiyou”)                        |     | June 11, 2009     |     | PRC           |     |               | 100.00 | % |     | Technology services     |
| Shanghai Xuanbei Automobile Service Co., Limited (“Shanghai Xuanbei”)           |     | April 26, 2018    |     | PRC           |     |               | 100.00 | % |     | Auto service            |
| Shanghai Shengshi Dalian Automobile