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SDA: SunCar Technology Group’s Growth Potential Supports Price Target of $20.00.

By Thomas Kerr, CFA

NASDAQ:SDA

READ THE FULL SDA RESEARCH REPORT

Company Announces New Chief Strategy Officer

On January 13, 2025, the SunCar (NASDAQ:SDA) announced that Breaux Walker was appointed Chief Strategy Officer. Mr. Walker will oversee the company’s capital markets strategy, investments, international financing, and investor relations.

Mr. Walker has over 25 years of experience in business development, corporate finance, and cross-border transactions, particularly in the technology and fintech sectors. He joined SunCar in March 2024 as consulting GM, North America. Earlier in his career, Mr. Walker demonstrated entrepreneurial success in China, founding and scaling a technology services company to $25 million in revenue. He is also fluent in Mandarin Chinese.

SunCar Secures Exclusive $6.8 Million Contract with Sam's Club Across 17 Cities in China.

On January 8, 2025, SunCar announced that it had secured the exclusive contract to manage the 2025 Sam's Club Premium Membership Car Wash Project. Under this agreement, SunCar will deliver premium car wash services for Sam's Club members across 17 cities in China. This includes cities such as Shanghai, Shenzhen, Guangzhou, Chengdu, Chongqing, Changsha, Hangzhou, Suzhou, and Zhuhai. Walmart China's budget for the Contract is approximately 49 million RMB ($6.7 million) and highlights SunCar's capabilities and leadership in the automotive after-service sector.

SunCar Wins Bid to Provide Concierge Transportation Services for Shanghai Rural Commercial Bank

On December 18, 2024, SunCar announced that it had been awarded a bid to provide premium concierge transportation services for Shanghai Rural Commercial Bank's valued clients. This extends the partnership between SunCar and SRCB, who have worked together since 2014.

SunCar will manage SRCB's retail points-based travel benefits, which include concierge car services, designated driver assistance, and VIP lounge access. Other services include designated driver assistance, high-speed rail station transfers, and international airport transportation for credit card customers.

SunCar Technology Group Joins the NASDAQ Golden Dragon China Index

On November 19, 2024, SunCar announced its inclusion in the NASDAQ Golden Dragon China Index. The NASDAQ Golden Dragon China Index is a benchmark for tracking Chinese companies listed on U.S. exchanges which provide investors exposure to dynamic growth opportunities in China's economy, particularly in high growth sectors such as digital services, technology, new consumer markets, and clean energy. This index includes leading Chinese companies like Alibaba (NYSE:BABA), JD.com (NASDAQ: D), Baidu (NASDAQ:BIDU), Xpeng (NYSE: XPEV), and Nio (NYSE:NIO).