SunCar Technology Group Files 6-K Report

TL;DR

SUNC files 6-K, confirms 20-F annual reports, based in Shanghai.

AI Summary

SunCar Technology Group Inc. filed a Form 6-K on February 4, 2025, reporting for the month of February 2025. The filing indicates the company is a foreign private issuer and will file its annual reports under Form 20-F. The principal executive office is located in Shanghai, People's Republic of China.

Why It Matters

This filing provides an update on SunCar Technology Group's reporting status as a foreign private issuer, which is relevant for investors tracking their regulatory compliance and financial reporting.

Risk Assessment

Risk Level: low — This is a routine filing confirming reporting status and location, with no immediate financial or operational disclosures that would indicate high risk.

Key Players & Entities

• SunCar Technology Group Inc. (company) — Registrant
• Shanghai Feiyou Trading Co., Ltd. (company) — Associated company for principal executive office
• 001-41247 (other) — Commission File Number
• 20250204 (date) — Filing Date

FAQ

Filing Documents

• ea0228187-6k_suncar.htm (6-K) — 838KB
• 0001213900-25-010076.txt ( ) — 6002KB
• sda-20240930.xsd (EX-101.SCH) — 64KB
• sda-20240930_cal.xml (EX-101.CAL) — 64KB
• sda-20240930_def.xml (EX-101.DEF) — 297KB
• sda-20240930_lab.xml (EX-101.LAB) — 582KB
• sda-20240930_pre.xml (EX-101.PRE) — 330KB
• ea0228187-6k_suncar_htm.xml (XML) — 717KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2025 Commission File Number: 001-41247 SunCar Technology Group Inc. (Translation of registrant's name into English) c/o Shanghai Feiyou Trading Co., Ltd. Suite 209, No. 656 Lingshi Road Jing'an District, Shanghai, 200072 People's Republic of China Tel: (86) 138-1779-6110 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F SunCar Technology Group Inc. (the "Company") furnishes under the cover of Form 6-K the following: SUNCAR TECHNOLOGY GROUP INC INDEX TO CONSOLIDATED FINANCIAL STATEMENTS CONTENTS PAGE(S) CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023 AND SEPTEMBER 30, 2024 (UNAUDITED) F-2 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2024 F-3 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2024 F-4 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2024 F-5 NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS F-6 F-1 SUNCAR TECHNOLOGY GROUP INC CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In U.S. Dollar thousands, except for share and per share data, or otherwise noted) As of December 31, As of September 30, 2023 2024 ASSETS Current assets Cash $ 30,854 $ 20,239 Restricted cash 2,741 2,750 Short-term investments 21,596 21,778 Accounts receivable, net 56,043 77,131 Prepaid expenses and other current assets, net 63,963 74,574 Total current assets 175,197 196,472 Non-current assets Long-term investment 282 285 Software and equipment, net 22,466 19,856 Deferred tax assets, net 11,998 12,890 Other non-current assets 12,012 21,731 Operating lease right-of-use assets 1,280 821 Total non-current assets 48,038 55,583 TOTAL ASSETS $ 223,235 $ 252,055 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Short-term loan $ 83,029 $ 83,362 Accounts payable 26,641 54,995 Deferred revenue 3,050 2,381 Tax payable 1,364 2,168 Accrued expenses and other current liabilities 4,809 2,281 Amount due to a related party, current 4,751 6,569 Operating lease liabilities, current 748 738 Total current liabilities 124,392 152,494 Non-current liabilities Operating lease liabilities, non-current 504 20 Amount due to a related party, non-current 29,688 23,675 Warrant liabilities 661 661 Total non-current liabilities 30,853 24,356 Total liabilities $ 155,245 $ 176,850 Commitments and contingencies (Note 16) Shareholders' equity Class A Ordinary shares (par value of US$ 0.0001 per share; 400,000,000 Class A Ordinary shares authorized as of December 31, 2023 and September 30, 2024, respectively; 40,076,493 and 39,876,493 Class A Ordinary shares issued and outstanding as of December 31, 2023; 48,876,493 and 48,676,493 Class A Ordinary shares issued and outstanding as of September 30, 2024, respectively) $ 4 $ 5 Class B Ordinary shares (par value of US$ 0.0001 per share; 100,000,000 Class B Ordinary shares authorized as of December 31, 2023 and September 30, 2024, respectively; 49,628,565 and 49,628,565 Class B Ordinary shares issued and outstanding as of December 31, 2023 and September 30, 2024, respectively) 5 5 Additional paid in capital 144,160 210,466 Accumulated deficit ( 126,724 ) ( 191,471 ) Accumulated other comprehensive loss ( 1,367 ) ( 1,280 ) Total SUNCAR TECHNOLOGY GROUP INC's shareholders' equity 16,078 17,725 Non-controlling interests 51,912 57,480 Total equity 67,990 75,205 TOTAL LIABILITIES AND EQUITY $ 223,235 $ 252,055 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. F-2 SUNCAR TECHNOLOGY GROUP INC UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In U.S. Dollar thousands, except for share and per share data, or otherwise noted) For the nine months ended September 30, 2023 2024 Revenues Auto service $ 147,527 $ 159,555 Auto eInsurance service 78,842 119,108 Technology service 24,094 34,046 Total revenues 250,463 312,709 Operating cost and expenses Integrated service cost ( 138,753 ) ( 158,843 ) Promotional service expenses ( 80,993 ) ( 113,845 ) Selling expenses ( 15,721 ) ( 20,683 ) General and administrative expenses ( 13,084 ) ( 44,079 ) Research and development expenses ( 5,464 ) ( 33,625 ) Total operating costs and expenses ( 254,015 ) ( 371,075 ) Operating loss

View Full Filing

View this 6-K filing on SEC EDGAR