| Schedule of Major Subsidiaries |
As of December 31, 2025, SunCar’s major subsidiaries are as follows:
| Name | | Date of
Incorporation | | Place of
Incorporation | | Percentage of
Effective
Ownership | | | Principal Activities | | Sun Car Online Insurance Agency Co., Ltd. (“SUNCAR Online”) | | December 5, 2007 | | PRC | | | 51.16 | %* | | Auto eInsurance service | | Shanghai Feiyou Trading Co., Limited (“Shanghai Feiyou”) | | June 11, 2009 | | PRC | | | 100.00 | % | | Technology services | | Shanghai Xuanbei Automobile Service Co., Limited (“Shanghai Xuanbei”) | | April 26, 2018 | | PRC | | | 100.00 | % | | Auto service | | Shanghai Shengshi Dalian Automobile Service Co., Limited (“Shengda Automobile”) | | June 8, 2013 | | PRC | | | 84.52 | % | | Auto service | | Haiyan Trading (Shanghai) Co., Limited (“Haiyan”) | | November 22, 2012 | | PRC | | | 100.00 | % | | Holding company | | Jiangxi Jiayi Auto Insurance Agency Co., Ltd. (“Jiangxi Jiayi”) | | November 5, 2025 | | PRC | | | 100.00 | % | | Auto eInsurance service |
| * | On July 18, 2025, the People’s Court of Songjiang District, Shanghai, issued a judgment to revoke, within the amount of the creditor’s rights confirmed in the civil mediation agreement in favor of the plaintiff, the equity transfer of SunCar Online by the defendant, Zhejiang Shengling Automotive Service Co., Ltd. (formerly known as Shengda Automobile Service Group Co. Limited, or “Shengda Group”), to Shanghai Feiyou, and ordered the restoration of the equity ownership. Shanghai Feiyou subsequently filed an appeal against the judgment. On October 31, 2025, the People’s Court upheld the original judgement. Considering the amount of the plaintiff’s claim against Shengda Group, Shanghai Feiyou’s equity interest in SunCar Online was reduced from 55.34% to 48.11% as of December 31, 2025. According to concerted action arrangements between Shanghai Feiyou and other shareholders, which still collectively hold an aggregate equity interest of 51.16% in SunCar Online, the Group believes that the outcome of this dispute will not affect Shanghai Feiyou’s effective control over SunCar Online. As of the issuance date of the audited consolidated financial statements, the judgment has not yet been enforced. |
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