SunCar Technology Group Inc

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SunCar Technology Group, Inc. engages in the provision of automotive after-sales service and insurance intermediation service through its subsidiaries in the People's Republic of China. The company was founded on August 6, 2021 and is headquartered in Shanghai, China.

NEW YORK , Aug. 20, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce that the Company will be presenting at the upcoming Emerging Growth Conference on August 22, 2024 at 9:05am ET. SunCar's management team will present key developments and initiatives that have shaped the Company's growth trajectory in recent months, focusing on SunCar's innovative cloud-based platform, which is driving the transformation of B2B auto services and e-insurance in a rapidly digitalizing auto market in China.

SunCar to Present at the Emerging Growth Conference on August 22, 2024

Marks Expansion to Traditional Vehicle Dealerships NEW YORK , Aug. 20, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar"; NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, today announced a two-year agreement between its wholly-owned subsidiary, Shengshi Dalian Insurance Agency Co., Ltd., and SAIC Maxus Automotive Sales & Service Co., Ltd.

SunCar Technology Partners with SAIC Maxus for Enhanced Auto E-Insurance Solutions

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MIAMI, Aug. 20, 2024 (GLOBE NEWSWIRE) -- EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 74th Emerging Growth Conference on August 21 – 22, 2024.

Presenting on the Emerging Growth Conference 74 Day 1 on August 21 Register Now

NEW YORK , Aug. 1, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar"; NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce the formation of a new business partnership with the Inner Mongolia branch of China Continent Property & Casualty Insurance Co., Ltd ("China Continent Insurance"). China Continent Insurance is the only subsidiary of China Reinsurance (Group) Corporation (SEHK: 1508) that specializes in non-life primary insurance.

SunCar Expands Partnership with China Continent Insurance

Lotus Technology inc

NEW YORK , July 23, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" or "the Company, NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce a strategic partnership (the "Partnership") with Lotus Technology ("Lotus," NASDAQ: LOT) to enhance automotive industry services. This collaboration will leverage SunCar's auto e-insurance technology platform and its extensive automotive service network to support and optimize Lotus's market expansion, offering Lotus owners comprehensive one-stop automotive services.

SunCar Technology and Lotus Technology Forge Strategic Partnership to Enhance Insurance Services and Expand Sales Network

NEW YORK, July 18, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" or "the Company, NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce that it has been selected as the provider of concierge car services for China Merchants Bank ("CMB", SSE: 600036, SEHK: 3968) Private Banking in China. This landmark two-year service framework agreement represents a significant milestone in the collaboration between SunCar and CMB.

SunCar Technology Announces Two-Year Service Agreement with China Merchants Bank

SunCar to Leverage its Extensive Car Wash Service Network in the Region NEW YORK , July 9, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" or "the Company, NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce the successful bid for the China Construction Bank (CCB) Yunnan Branch Long (Long means "dragon") Card Car Wash Service project. This victory marks the latest collaboration between SunCar and CCB, driving SunCar's national expansion.

SunCar Technology Wins Bid for China Construction Bank's Yunnan Branch Long Card Car Wash Service

SunCar has built an innovative cloud service and mobile app that digitalize the automotive aftermarket and eInsurance sectors in China. SunCar's cloud platform is critical to China's EV manufacturers as it delivers leading technology, a user-friendly mobile App, and China-wide scope. In FY 2023 SunCar registered almost 30% overall revenue growth and 80% growth in its auto eInsurance business.

SunCar Technology Group: Strong Partnerships, Good Business Model

NEW YORK , June 17, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce a new strategic collaboration with Ping An Property & Casualty Insurance Co., Ltd. (Shenzhen Branch) ("Ping An P&C Shenzhen"), a subsidiary of Ping An Insurance Group Co. of China Ltd ("Ping An", 2318.HK), one of the five largest insurance companies in the world and a long term enterprise client of SunCar's.

SunCar Technology Group Partners with Ping An Property & Casualty to Elevate Airport Pickup Services

ZEEKR Intelligent Technology Holding Ltd

NEW YORK , May 15, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce an extended collaboration with Zeekr Intelligent Technology Holding Limited ("Zeekr") (NYSE: ZK), a premium electric automobile brand under Zhejiang Geely Holding Group ("Geely Group") (0175.HK). This partnership will utilize SunCar's cutting-edge intelligent insurance service platform to deliver innovative solutions to Zeekr's customers across China, representing the latest expansion and advancement for SunCar within the insurance sector.

SunCar Technology Group Expands Intelligent Insurance Services through Enhanced Partnership with Geely Group's Zeekr

NEW YORK , May 13, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, announced an expanded partnership with Beijing Houji Insurance Brokerage Co., Ltd. ("Beijing Houji"), a part of the renowned Xiaomi Corporation ("Xiaomi Group") (1810.HK).

SunCar Technology Group Inc. Broadens Intelligent Insurance Services through Enhanced Partnership with Xiaomi Group's Insurance Affiliate

SunCar Technology Group, Inc. (NASDAQ:SDA ) Q4 2023 Earnings Conference Call April 30, 2024 5:00 PM ET Company Participants Jennifer Jiang - Director of Investor Relations Zaichang Ye - Chairman and CEO Stanley Yang - Chief Strategy Officer Conference Call Participants Operator Thank you for standing by and welcome to the SunCar Technology Group Fiscal Year 2023 Earnings Call. Please note, that today's call is being recorded.

SunCar Technology Group, Inc. (SDA) Q4 2023 Earnings Call Transcript

Adjusted EBITDA increased by $7.2 million to $1.6 million in 2023 Conference Call and Webcast on April 30 th at 5 PM ET NEW YORK, April 29, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, today provided a business update and reported financial results for the year ended December 31, 2023. Fiscal Year 2023 Financial Results For the fiscal year ended December 31, 2023, total revenues were $364 million, up 29% from $282 million in 2022.

SunCar Technology Reports 29% Revenue Growth, Including 79% Increase in Auto e-Insurance Business in FY 2023

NEW YORK , April 24, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, will announce its financial results for Fiscal Year 2023 on Monday, April 29th before the market opens. SunCar will host a conference call on Tuesday, April 30, at 5:00 PM ET (2:00 PM PT) with the investment community to discuss the Company's financial results and provide a business update.

SunCar Technology Group Inc. Schedules Fiscal Year 2023 Earnings Conference Call on Tuesday, April 30th at 5 p.m. ET

NEW YORK , April 18, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized auto services and auto e-insurance in China, announced a strategic partnership with Ant Fortune (Shanghai) Financial Information Services Co., Ltd., a leading online wealth management platform operated by Ant Group.

SunCar Technology Group Inc. Elevates Luxury Travel with Exclusive Airport Concierge Service in Partnership with Ant Fortune

NEW YORK , April 2, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized automotive services and auto e-insurance in China, announced that it will offer exclusive airport concierge car services to the private banking clientele of China CITIC Bank International Limited ("CNCBI"). This three-year partnership will leverage SunCar's expertise in corporate travel services to help CNCBI's provide unmatched service quality and client satisfaction to CNCBI's discerning private banking clients.

SunCar Technology Group Inc. Partners with China CITIC Bank International to Elevate Private Banking Travel Experience

NEW YORK , March 7, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized auto services and auto e-insurance in China , recently presented at the Citizens JMP Securities Technology Conference, providing an overview of the Company's progress and strategic direction since becoming the first China-based company in the automotive services industry to be listed on Nasdaq. With 16 years of industry leadership, SunCar has established itself as the leading digital B2B auto service and auto e-insurance platform in China.

SunCar Technology Group Inc. Highlights Growth and Market Leadership at the Citizens JMP Technology Conference

NEW YORK , March 4, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized automotive after-sales services and online auto insurance intermediation in China, today announced that it will present at the upcoming Citizens JMP Securities Technology Conference taking place in San Francisco on Tuesday, March 5, 2024. A webcast can be accessed at https://wsw.com/webcast/jmp62/sdaww/1831130.

SunCar Technology Group Inc. to Present at the Citizens JMP Technology Conference

NEW YORK , Feb. 21, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized automotive after-sales services and online auto insurance intermediation in China, today announced a new business cooperation (the "Agreement") through its wholly owned subsidiary, Shanghai Chengle Network Technology Co., Ltd. with Beijing Li Auto Insurance Brokerage Company ("Li Auto Insurance").

SunCar Technology Group Inc. Announces Business Cooperation with Li Auto for Advanced System Software Development

NEW YORK , Jan. 22, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized automotive after-sales services and online auto insurance intermediation in China, today announced an exclusive vehicle service contract with the Sichuan Branch of China Construction Bank, one of China's largest financial institutions. SunCar expects to derive cumulative revenue from the contract valued at approximately RMB 23.4 million, or USD 3.3 million.

SunCar Technology Group Inc. Secures Exclusive Vehicle Service Contract with China Construction Bank's Sichuan Branch

NEW YORK , Jan. 8, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in digitalized automotive after-sales services and online auto insurance intermediation in China, today announced a two-year exclusive vehicle service contract with the Fujian Branch of China Construction Bank, one of the most prestigious financial institutions in China. SunCar expects to derive cumulative revenue from the contract valued at approximately RMB 25 million, or USD 3.5 million.

SunCar Technology Group Inc. Secures Exclusive Vehicle Service Contract with China Construction Bank

SunCar Technology's share price has dropped by 32% since July. While a correction was due even then, a follow-on share offering at a lower price only confirmed this. The company's recent robust revenue growth of 28% YoY in H1 2023 goes in its favour though. However, profits have weakened due to rising costs, affecting margins. Its market multiples are competitive, making it a potential short-term Buy, but there isn't enough proof that it can perform in the medium term, leading to a Hold rating.

SunCar Technology: Improved Sales Performance, But Downsides Exist Too

NEW YORK , Nov. 13, 2023 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), a leading provider in digitalized automotive after-sales services and online auto insurance intermediation in China, is delighted to announce its recent strategic agreement with the Heilongjiang branch of Agricultural Bank of China. This one-year agreement marks a significant milestone in SunCar's expansion strategy within the financial services sector.

SunCar Technology Group Inc. Announces Strategic Cooperation with the Heilongjiang Branch of the Agricultural Bank of China

Update to Include Customers of 18 Leading NEV Companies NEW YORK , Nov. 2, 2023 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar", "we", or the "Company") (Nasdaq: SDA), a leading provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation services in China, announced the release of its latest version of its cutting-edge digital insurance system, Version 7.9.0 . This significant update reflects the Company's commitment to staying at the forefront of the evolving auto insurance industry.

SunCar Technology Group Inc. Releases Version 7.9.0 of its Insurance System

NEW YORK , Oct. 30, 2023 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), a leading provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation services in China, today announced it closed its previously announced follow-on offering of $21 million of Class A Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") at a price of $8.18 per share. The Company issued a total of 2,567,238 Ordinary Shares to certain institutional investors.

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