NEW
YORK, Nov. 19, 2024 /PRNewswire/ -- SunCar
Technology Group Inc. (NASDAQ: SDA), a leading innovator in
cloud-based B2B auto services and auto e-insurance in China, is pleased to announce its inclusion in
the NASDAQ Golden Dragon China Index, marking an important
milestone in the Company's growth journey.
The NASDAQ Golden Dragon China Index is a benchmark for tracking
Chinese companies listed on U.S. exchanges, offering investors a
window into the dynamic growth opportunities within China's economy, particularly in sectors like
digital services, technology, new consumer markets, and clean
energy. This prestigious index includes leading Chinese companies
like Alibaba (NYSE: BABA), JD.com (NASDAQ: JD), Baidu (NASDAQ:
BIDU), Xpeng (NYSE: XPEV), and Nio (NYSE: NIO), some of which we
have proudly collaborated with, showcasing the impact of innovative
Chinese businesses on the global stage. SunCar's inclusion further
highlights its strong market presence and partnerships with key
players in the automotive industry, such as Tesla (NASDAQ: TSLA)
and Xiaomi (1810.HK), reflecting
the Company's role in driving advanced automotive sotluions. This
recognition demonstrates the capital market's confidence in
SunCar's business model and growth prospects, positioning the
Company for expanded visibility in global financial markets.
As a leading provider of digital automotive solutions, SunCar
has consistently enhanced the quality and efficiency of Chin'as
automotive services industry. With over a decade of experience,
SunCar's cloud-based platforms and intelligent insurance services
have simplified supply chains, streamlined service processes, and
improved the overall customer
experience for automotive and e-insurance users across China. The Company's recent financial
performance further underscores its growth trajectory. In the first
half of 2024, SunCar reported 27% increase in revenue to
$203.1 million, and adjusted EBITDA
growth of 6% to $6.4 million,
demonstrating strong operational performance and high market
demand.
"We are honored to be included in the NASDAQ Golden Dragon China
Index," said Ye Zaichang, Chairman and CEO of SunCar Technology
Group Inc. "This milestone is a testament to our continued growth,
technological advancements, and commitment to creating value for
our shareholders and customers. Being part of this prestigious
index underscores our leading position in digital automotive
services and e-insurance, reflecting our dedication to maintaining
high transparency and performance standards as a U.S.-listed
company. We look forward to building on this momentum as we expand
our innovative solutions in China
and beyond."
About SunCar Technology Group Inc.
Founded in 2007, SunCar is transforming the customer journey for
auto services and auto insurance in China, the largest passenger vehicle market in
the world. SunCar develops and operates cloud-based platforms that
seamlessly connect drivers with a wide range of auto services and
insurance coverage options through a nationwide network of sales
partners. As a result, SunCar has established itself as the leader
in China in the B2B auto services
market and the auto eInsurance market for electric vehicles. The
Company's intelligent cloud platform empowers its enterprise
clients to access and manage their customer database and offerings
optimally, and drivers gain access to hundreds of services from
tens of thousands of independent providers in a single application.
For more information, please visit: https://suncartech.com.
Forward-Looking Statements
This press release contains information about the Company's view
of its future expectations, plans and prospects that constitute
forward-looking statements. Actual results may differ materially
from historical results or those indicated by these forward-looking
statements as a result of a variety of factors including, but not
limited to, risks and uncertainties associated with its ability to
raise additional funding, its ability to maintain and grow its
business, variability of operating results, its ability to maintain
and enhance its brand, its development and introduction of new
products and services, the successful integration of acquired
companies, technologies and assets into its portfolio of products
and services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. The Company
encourages you to review other factors that may affect its future
results in the Company's annual reports and in its other filings
with the Securities and Exchange Commission.
Contact Information:
SunCar:
Investor
Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
U.S. Investor Relations
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE SunCar Technology Group Inc.