Grand Technology (SDA.US) achieved an adjusted profit of $2.5 million in the first half of 2025. New energy vehicle insurance saw a growth of 111%, surpassing $5 billion in scale. After hours, the stock price surged by 35.83%.

Listed on the US stock market, SunCar Technology (SDA.US) officially released its core business results for the first half of 2025. Data shows that the company achieved an adjusted profit of $2.5 million in the first half of the year, and the company's new energy vehicle insurance business has surged past $700 million, approximately 5.1 billion RMB, representing a year-on-year growth of 111%, doubling the second place. In the six months ending on June 30, 2025, total revenue increased from $203 million in the same period last year to $222.3 million, a year-on-year growth of 9.5%, maintaining its position as the industry leader. The revenue from car electronic insurance increased by 33% to reach $97.8 million, and the revenue from technical services grew by 11% to reach $24.3 million. As a leading enterprise in the industry, SunCar Technology has strengthened its market position through deep strategic collaborations with 20 mainstream new energy vehicle manufacturers, including Tesla, Inc., Xiaomi, NIO Inc. Sponsored ADR Class A, Huawei, Jike, Ideal, Zeropow, Zhiji, Avita, and others. To enhance cooperation efficiency, SunCar Technology has established exclusive cloud service centers for partner car manufacturers, integrating car user data with insurance service systems to achieve precise customer reach and personalized service matching. For example, for Tesla, Inc., the cloud service center can tailor "insurance renewal + car service package" plans to old car owners based on vehicle usage years, mileage, and maintenance records, boosting the renewal conversion rate to 75%, significantly higher than the industry average. In terms of car insurance technology, SunCar Technology continues to increase research and development investments, focusing on the application of AI technology in all stages of its business processes. In the first half of 2025, the company collaborated with ByteDance's enterprise technology service platform Volcano Engine to integrate the Large Language Model (LLM) into its core system, covering key processes such as underwriting, claim settlement, and customer service, promoting business digitalization and intelligent transformation, optimizing operational efficiency, and enhancing user experience. Differentiating itself from competitors solely focused on car insurance, SunCar Technology, leveraging leading car service systems domestically and internationally, has established a synergistic "car insurance + service" development model. Currently, the company has over 48,000 car service outlets nationwide and partnerships with thousands of domestic and foreign travel service providers, covering scenarios such as car washing, maintenance, airport transfers, VIP lounges, designated drivers for drinking, road rescue, overseas car usage, providing a one-stop digital car service solution for banks, insurance companies, and traffic platforms. This collaborative model significantly enhances user stickiness and business value, with over 20 million services provided annually. With the advantages of scale in new energy vehicle insurance, deep barriers to entry in car manufacturer partnerships, and the synergistic effect of "car insurance + service + technology," SunCar Technology has set a clear goal to achieve profitability in the second half of 2025. With further release of scale effects and continuous optimization of operational efficiency, the company expects continuous improvement in gross profit margins for all businesses, combined with strict cost controls, providing a solid foundation for achieving profitability goals. Looking ahead, SunCar Technology will continue to focus on its core business in new energy vehicle insurance, deepen cooperation with car manufacturers, optimize the "car insurance + service + technology" ecosystem, increase investments in AI and other technologies, consolidate its leading position in the industry, and create a more comprehensive and smarter car life guarantee for users.