SunCar Technology reports 1H EPS (4c) vs. 4c last year

Reports 1H revenue $159.4M vs. $124.7M last year. Ye Zaichang, Chairman & CEO of SunCar, commented, “We are pleased to report our financial results for the first half of the year 2023. Our revenue increased by 28% to $159.4 million for the first half of fiscal year 2023 as compared to the same period of last year. In the first half of 2023, we successfully executed our sustainable growth strategy and strengthened our leadership in automotive after-sales services and the online insurance market for NEV. We attributed our solid results to increased institutional partner base, expanded network and new service initiatives. In the meanwhile, we made efforts to improve operational efficiency and maintain a healthy balance sheet. Looking into the future, we plan to continuously develop strategic cooperation with leading NEV companies, expand supplier network, and invest in technology.”