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SDA

SunCar Technology Group Inc.

Industry

Auto - Dealerships

SunCar Technology Group Inc., through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business. The Insurance Intermediation Business segment provides traditional auto insurance renewal services and new energy vehicles insurance services. The Automotive After-Sales Business provides after-sales services to banking, insurance companies, and other customer types. The Technology Business segment provides auto insurance SaaS products and other technical services. SunCar Technology Group Inc. was founded in 2007 and is based in Shanghai, China.

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SunCar Technology Group Inc. (NASDAQ:SDA) has announced a follow-on offering of $21 million of Class A Ordinary Shares at a price of $8.18 per share. The company will issue a total of 2,567,238 Ordinary Shares to institutional investors. Additionally, the company will issue common warrants for the purchase of up to 3,850,856 Ordinary Shares at an exercise price of $9.00 per share. The net proceeds from this offering will be used for working capital and general corporate purposes. The offering is expected to close on October 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:28 pm

SunCar Technology Group Inc. (NASDAQ:SDA) has launched an online insurance solution for customers of Li Auto Inc.'s (NASDAQ:LI) new energy vehicles (NEV). The insurance solution is accessible via the Li Auto car owners' app. SunCar's CEO believes this cooperation with Li Auto will expand their customer base and provide a new avenue for growth. SunCar already has the largest market share for after-sales services in the NEV space in China. Li Auto is a leader in China's NEV market.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 12:31 pm

Several US stocks recorded losses on Tuesday despite the overall market trading higher. Akero Therapeutics shares dipped 63.9% after reporting a 36-week analysis of its Phase 2b SYMMETRY study. 89bio tumbled 37.7%. Ventyx Biosciences fell 22.1% after announcing results from the Phase 2 trial of VTX002. John Wiley & Sons shares dipped 10.4% after reporting the departure of its CEO. Groupon declined 9%. Uranium Royalty Corp fell 7.1%. WK Kellogg Co fell 6.6%. Neumora Therapeutics declined 6% after reporting the appointment of a new executive VP. SunCar Technology Group fell 5.7%. Genelux Corporation fell 5.7%. PagerDuty shares fell 3.7% after announcing a proposed private placement of $350 million of convertible senior notes.

Portfolio Pulse from Lisa Levin

October 10, 2023 | 3:37 pm

In Tuesday's pre-market session, several consumer discretionary stocks saw significant movement. Kaival Brands Innovations (KAVL), Kaixin Auto Hldgs (KXIN), Volcon (VLCN), Color Star Tech (ADD), XWELL (XWEL), and Hyatt Hotels (H) all saw increases, with Hyatt Hotels leading the pack with a 6.27% increase. On the other hand, Shift Techs (SFT), Phoenix Motor (PEV), SunCar Tech Gr (SDA), Sypris Solutions (SYPR), Latham Group (SWIM), and ECARX Holdings (ECX) all saw decreases, with Shift Techs experiencing the largest drop of 21.6%.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:06 pm

SunCar Technology Group (NASDAQ:SDA) reported a 200% decrease in earnings per share (EPS) from $0.04 to $(0.04) YoY. However, the company's sales increased by 27.78% to $159.38 million from $124.73 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:35 pm

SunCar Technology Group reported H1 revenue of $159.4M, up from $124.7M year-on-year.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:24 pm

Suncar Technology Group has signed a three-year designated driving services contract with China CITIC Bank. The terms of the contract were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:40 pm

SunCar Technology Group Inc. (NASDAQ:SDA), a provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation service in China, has renewed its annual destination pickup service agreement with China Minsheng Banking Corp., Ltd. (CMBC). SunCar's service covers 79 airports and 330 high-speed rail stations in China and is popular among institutional customers like CMBC.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 1:01 pm

SunCar Technology Group has renewed its one-year insurance intermediation service agreement with Nio Auto. This agreement allows SunCar to continue providing insurance services to Nio Auto.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 1:30 pm

Several consumer discretionary stocks experienced significant movement in Friday's after-market session. Notable gainers included Genius Gr (GNS), Modine Manufacturing (MOD), Bowlero (BOWL), Sportsman's Warehouse (SPWH), Volcon (VLCN), and Aterian (ATER). On the other hand, Zapp Electric Vehicles (ZAPP), Harbor Custom Dev (HCDI), LiveWire Gr (LVWR), SunCar Tech Gr (SDA), and Jowell Global (JWEL) saw their stocks decline.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 9:32 pm

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