Core Insights - SunCar Technology Group Inc. has entered a new phase of strategic cooperation with XPeng Inc., an intelligent electric vehicle manufacturer [1] - The partnership aims to enhance auto insurance services for XPeng car owners through upgraded capabilities in SunCar's Anji Cloud Service Center [2] - SunCar will leverage AI and big data analytics to provide customized auto insurance solutions, particularly with the launch of the XPeng G7 model [3] Company Overview - Founded in 2007, SunCar is a leader in cloud-based auto eInsurance and services in China, the largest passenger vehicle market globally [4] - The company operates platforms that connect drivers with various auto services and insurance options through a nationwide network of sales partners [4] - SunCar's intelligent cloud platform allows enterprise customers to manage and optimize their auto eInsurance and service offerings [4]

Core Insights - SunCar Technology Group Inc. is advancing its partnership with Xiaomi, focusing on intelligent vehicle insurance solutions [1][2] - The collaboration aims to create a fully intelligent and digitized auto insurance service system for Xiaomi, with expectations of doubling business in 2025 [2][3] - SunCar is recognized as a leader in cloud-based auto insurance services in China, utilizing AI and big data to tailor solutions for Xiaomi Auto [3][4] Company Overview - Founded in 2007, SunCar is transforming the auto services and insurance landscape in China, the largest passenger vehicle market globally [4] - The company operates cloud-based platforms that connect drivers with various auto services and insurance options through a nationwide sales partner network [4] - SunCar has established itself as a leader in the auto eInsurance market for electric vehicles and the B2B auto services market in China [4]

Company Overview - SunCar is a leading digital provider of B2B auto insurance and auto services in China, selling over 6 million insurance contracts and 22.5 million auto services transactions in 2024[8] - The company's technology platform connects 20 auto manufacturers, 1,480 enterprise customers, 48,000 auto service providers, and 85 insurance companies[8, 13] - SunCar is leveraging AI, including DeepSeek integration, to optimize the auto insurance and service industry[8, 24] Financial Performance - SunCar's LTM revenue as of March 31, 2025, was $459 million, with a 24% revenue growth rate[8] - Adjusted EBITDA grew over 370% to approximately $12 million as of March 31, 2025[8] - Auto eInsurance service revenue was $183 million, and auto service revenue was $228 million for the LTM period as of March 31, 2025[13] Market and Growth Opportunities - China's auto insurance market has a Gross Merchandise Value (GMV) of over $130 billion, and the addressable market for auto services is over $110 billion[13] - SunCar's eInsurance GMV is approximately $2.2 billion, implying a market share of around 1-2%[47] - The company is positioned to benefit from China's EV market boom, with EVs representing 52.3% of new car sales in April 2025[22]

Summary of Suncar Technologies Conference Call Company Overview - **Company**: Suncar Technologies - **Industry**: B2B Auto Insurance and Auto Services - **Market**: Largest auto market in the world, China Key Points Financial Performance - Suncar reported LTM revenue of approximately $460 million with a 24% revenue CAGR over the last few years, indicating strong growth potential [3][41] - The company has experienced consistent EBITDA expansion, positioning it as an attractive investment opportunity [3][45] Market Dynamics - The Chinese auto insurance and services market is primarily manual and offline, presenting a significant opportunity for digitalization [4][5] - Suncar estimates a total addressable market (TAM) of $250 billion, highlighting the growth potential in digitalizing auto insurance and services [5][8] Business Model - Suncar operates a B2B2C model, enabling insurance sales through partnerships with auto manufacturers and service providers [13][14] - The company does not underwrite insurance but provides a digital sales channel for insurance partners, which is the lowest cost of sale channel for them [13][21] Technology and Innovation - Suncar has invested heavily in technology, including mobile and AI, to enhance service delivery and operational efficiency [7][17] - The company has developed a unique ecosystem with 20 EV manufacturers and 48,000 service vendors, creating a competitive moat [8][10] Partnerships and Customer Base - Suncar has established long-term relationships with major partners, including Tesla and Bank of China, which contribute to high retention rates [10][16] - The company has 1,480 enterprise customers in the auto services segment, indicating a robust customer base [9][36] Future Growth and Strategy - Suncar is focused on expanding its embedded insurance model, which is expected to lower promotional expenses and enhance EBITDA margins [46][48] - The company is exploring global opportunities, having chosen to conduct its IPO in the US to attract global technology investors [49][50] Challenges and Risks - The company faces competition from traditional auto insurance providers and the need to continuously innovate to maintain its market position [12][25] - The transition from a manual to a digital market requires ongoing investment and consumer education [26][43] Additional Insights - The management team has been stable since the company's founding, providing deep experience in the Chinese auto market [23] - Suncar's technology allows for rapid quote generation and customization, which is a significant differentiator in the market [28][30] This summary encapsulates the key insights from the conference call, highlighting Suncar Technologies' market position, growth potential, and strategic direction.

Core Insights - SunCar Technology Group Inc. is a leader in cloud-based, software-focused B2B auto eInsurance and auto services in China, participating in several upcoming investor conferences [1][3] Company Overview - Founded in 2007, SunCar is transforming the customer journey for auto services and insurance in China, the largest passenger vehicle market globally [3] - The company operates cloud-based platforms that connect drivers with a variety of auto services and insurance options through a nationwide network of sales partners [3] - SunCar is recognized as a leader in the auto eInsurance market for electric vehicles and the B2B auto services market in China [3] - The intelligent cloud platform enables enterprise customers to manage and optimize their auto eInsurance and service offerings [3] - Drivers can access a wide range of high-quality services from tens of thousands of independent providers through a single application [3] Upcoming Events - SunCar will participate in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference on June 10, 2025, at 9:00 am ET [5] - The company will also be present at the Sidoti Small Cap Virtual Conference on June 12, 2025, at 8:30 am ET [5] - Additionally, SunCar will take part in the WeBull EV Stock Webinar on June 24, 2025, at 2:00 pm ET [5]

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 May 2025 Commission File Number: 001-41706 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 executi ...

Core Viewpoint - SunCar Technology Group Inc. reported a strong financial performance in Q1 2025, with a 20% increase in revenue compared to the same period in 2024, driven by partnerships and product innovations in the auto eInsurance and auto services sectors [2][3][7]. Financial Performance - Revenue for Q1 2025 reached $102.6 million, up from $85.6 million in Q1 2024, marking a 20% growth [7]. - Auto eInsurance revenue increased by 37% to $45.9 million, compared to $33.5 million in the prior-year period [8]. - Technology Services revenue rose by 41% to $10.7 million, up from $7.5 million in Q1 2024 [8]. - Auto Services revenue grew by 3% to $46.0 million, compared to $44.6 million in the same period last year [8]. - Operating loss narrowed to $3.0 million for Q1 2025, compared to a loss of $4.5 million in Q1 2024 [8][15]. - Adjusted EBITDA improved to negative $1.3 million in Q1 2025 from negative $3.1 million in Q1 2024 [8][9]. Partnerships and Collaborations - SunCar expanded its partnership with BYD, collaborating with 50 dealerships in East China to provide insurance solutions for premium EV brands [4][8]. - The company completed a differentiated SAAS insurance solution for Leapmotor dealers and integrated Tesla's service packages into its platform [8]. - SunCar secured a landmark designated driver contract with China Construction Bank, projected to generate RMB 60 million over the next 18 months [8]. - Collaborations with PICC and Ping An were deepened, enhancing service offerings across multiple regions [8]. 2025 Outlook - The company has provided full-year 2025 revenue guidance of $521 million to $539 million, reflecting an expected growth of 18% to 22% [10]. - This growth is attributed to the continued demand across its business and the early stages of many partnerships [10]. Company Overview - Founded in 2007, SunCar is a leader in cloud-based auto eInsurance and services in China, focusing on connecting drivers with a variety of services through a nationwide network [11]. - The company aims to transform the customer journey in the largest passenger vehicle market globally, leveraging its intelligent cloud platform for enterprise customers [11].

Group 1 - The core viewpoint of the news highlights a positive market reaction driven by favorable developments in US-China trade negotiations, with major US stock indices showing significant gains [1][2] - The Dow Jones Industrial Average rose by 2.44%, the Nasdaq Composite increased by 3.55%, and the S&P 500 climbed by 2.63% as of the specified time [1] - Major technology stocks experienced substantial increases, with Apple rising over 6%, Amazon up more than 7%, and Meta gaining over 5% [2] Group 2 - The Nasdaq China Golden Dragon Index surged over 5%, reflecting a strong performance among popular Chinese concept stocks [2][3] - Notable stock movements included Jia Yuda, which saw a peak increase of over 130% during trading, ultimately closing up 65.64% [2][3] - Other significant gainers in the Chinese stock market included Century Internet, which rose over 18%, and several other companies like Pinduoduo and Xpeng Motors, which saw increases exceeding 7% [4] Group 3 - The spot price of gold continued to decline, trading around $3240 per ounce, with a drop of 2.58% noted [4] - The price of gold fell below $3210 per ounce for the first time since April 14, indicating a notable downward trend [4] - Domestic gold jewelry prices also decreased, with several brands' prices falling back to around 1000 yuan [6][7]

Financial Data and Key Metrics Changes - Total revenue for 2024 was $441,900,000, an increase of 21.5% from $363,700,000 in 2023 [28] - Adjusted EBITDA increased by 492% to $9,800,000 for 2024 compared to $1,600,000 in the prior year [32] - Operating costs and expenses rose to $500,300,000 in 2024 from $379,200,000 in 2023 [30] Business Line Data and Key Metrics Changes - Auto insurance revenue increased by 44.4% to $170,500,000 in 2024 from $118,100,000 in 2023, driven by strong partnerships and increased policy sales [29] - Technology services revenue grew by 46.4% to $44,900,000 in 2024, up from $30,700,000 in the previous year [29] - Auto services revenue increased by 5.3% to $226,500,000 in 2024 from $215,000,000 in 2023 [30] Market Data and Key Metrics Changes - The company is focused on digitalizing China's domestic auto insurance and services markets, targeting over 330 million drivers who still purchase insurance offline [6] - The partnership with Tesla expanded to 48 cities from six earlier in the year, indicating significant market penetration [8][20] - The gas vehicle market remains larger than the EV market, presenting a substantial growth opportunity for the company [8][45] Company Strategy and Development Direction - The company aims to leverage AI and cloud technology to enhance operational efficiency and customer experience [26][34] - There is a strong focus on developing customized insurance products and enhancing partnerships with auto manufacturers [20][27] - The company is committed to remaining a technology leader in the market, utilizing AI extensively to improve service efficiency [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the insurance business and the positive impact of AI on operations and profitability [41][42] - The ongoing digitalization trend in China's auto insurance market is seen as a significant opportunity for the company [12][19] - Management highlighted the importance of partnerships with EV manufacturers to enhance customer engagement and service offerings [19][37] Other Important Information - The company has invested approximately $100,000,000 in industry-specific cloud, AI, mobile apps, and data infrastructure [37] - The company has secured a two-year agreement with SAIC Maxis to enhance insurance sales management across its dealership network [21] - The company plans to issue guidance with its first quarter 2025 earnings release, subject to market conditions [48] Q&A Session Summary Question: What impact if any will U.S. Tariffs have on SunCar's business? - Management does not expect U.S. Tariffs to have a material direct impact as the business is focused on China's domestic market [36] Question: Why have so many EV manufacturers been interested in partnering with SunCar? - The company's long-standing market presence and significant investment in technology have created a differentiated solution that meets evolving needs [37] Question: How do you see your Tesla relationship evolving over time? - Tesla is viewed as a strong partner in expanding the portfolio of insurance products and enhancing service delivery [38] Question: What do you attribute the rapid growth of your insurance business to? - Differentiation and the need for manufacturers to monetize customer relationships beyond vehicle sales are key factors [39] Question: How do you view your profitability tracking over the next year? - Continued strong growth in the insurance business is expected to contribute positively to profitability [41] Question: How do you view AI impacting your business in 2025? - AI has been significantly impactful, with plans to integrate it into more features to optimize customer experience [43] Question: How impactful will gas vehicle customers be on your insurance business this year? - The gas vehicle market is larger and is increasingly adopting digital solutions, which is expected to drive significant business [44] Question: What do you see as the future of your Angi AI technology services center? - The center will play a critical role in innovating new insurance products and enhancing collaboration with auto partners [46] Question: What do you see as the most exciting aspect of your services business? - New customer segments such as retail and luxury present exciting growth opportunities [47] Question: Will you be issuing guidance this year? - Guidance is planned to be issued with the first quarter 2025 earnings release [48] Question: Do you expect it will be another large employee stock compensation expense this year? - No, the previous year's expense was a one-time event and not expected to recur [49]

Financial Data and Key Metrics Changes - Total revenue for 2024 was $441.9 million, a 21.5% increase from $363.7 million in 2023 [28] - Adjusted EBITDA increased by 492% to $9.8 million for 2024 compared to $1.6 million in the prior year [32] - Operating costs and expenses rose to $500.3 million in 2024 from $379.2 million in 2023 [30] Business Line Data and Key Metrics Changes - Auto insurance revenue increased by 44.4% to $170.5 million in 2024 from $118.1 million in 2023, driven by strong partnerships with automakers [29] - Technology services revenue grew by 46.4% to $44.9 million in 2024, up from $30.7 million in the previous year [29] - Auto services revenue increased by 5.3% to $226.5 million in 2024 from $215 million in 2023 [30] Market Data and Key Metrics Changes - The company expanded its partnership with Tesla from 6 cities to 48 cities in 2024 [9] - The gas vehicle market remains significantly larger than the EV market, presenting a substantial growth opportunity for the company [9][45] Company Strategy and Development Direction - The company is focused on digitalizing China's auto insurance and services markets, leveraging AI and technology to enhance operational efficiency and customer experience [7][27] - There is a strong emphasis on developing partnerships with EV manufacturers to create customized insurance products and services [20][37] - The company aims to broaden its software and service offerings while deepening partnerships to fuel growth [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the insurance business and the positive impact of AI on operations and profitability [42][43] - The ongoing digitalization trend in China's auto insurance market is seen as a significant opportunity for the company [12][36] Other Important Information - The company has invested approximately $100 million in industry-specific cloud, AI, mobile apps, and data infrastructure [37] - The company has secured 160 registered copyrights of computer software related to its services [17] Q&A Session Summary Question: What impact if any will U.S. Tariffs have on SunCar's business? - Management does not expect U.S. tariffs to have a material direct impact as the business is focused on China's domestic market [36] Question: Why have so many EV manufacturers been interested in partnering with SunCar? - The company's long-standing market presence and significant investment in technology have created a differentiated solution that meets the evolving needs of EV manufacturers [37] Question: How do you see your Tesla relationship evolving over time? - Tesla is viewed as a strong partner in expanding the portfolio of insurance products and delivering customized services [38] Question: What do you attribute the rapid growth of your insurance business to? - Differentiation and the need for manufacturers to monetize customer relationships beyond vehicle sales are key factors [39] Question: How do you view your profitability tracking over the next year? - Continued strong growth in the insurance business is expected to contribute positively to profitability [42] Question: How do you view AI impacting your business in 2025? - AI has significantly impacted operations and product development, with plans to integrate it into more features [43] Question: How impactful will gas vehicle customers be on your insurance business this year? - The gas vehicle market is expected to be very impactful due to its larger size and the increasing demand for digital solutions [44][45] Question: What do you see as the future of your Angi AI technology services center? - The center is critical for innovating new insurance products and co-developing solutions with auto partners [46] Question: What do you see as the most exciting aspect of your services business? - New customer segments such as retail and luxury present growth opportunities, along with synergies with the insurance business [47] Question: Will you be issuing guidance this year? - Guidance is planned to be issued with the first quarter 2025 earnings release, subject to market conditions [49] Question: Do you expect it will be another large employee stock compensation expense this year? - No, the previous year's expense was a one-time event and not expected to recur [50]