v3.26.3
Borrowings
 6 Months Ended
Jun. 30, 2026
Borrowings [Abstract]  
BORROWINGS
10. BORROWINGS

 

    Annual
Interest		       As of
December 31,		     As of
June 30,		  
    Rate   Maturity   2025     2026  
            (Audited)     (Unaudited)  
Short-term borrowings                    
Huaxia Bank Co., Ltd. Shanghai Branch(i)   3.00%-3.45%   September to November,2026   $ 12,870     $ 13,263  
China Merchants Bank Shanghai Damuqiao Branch(i)(iii)   3.25%   September,2026     8,580       8,843  
Bank of Communications Shanghai Putuo Branch(i)   4.44%   January to February,2027     7,150       7,369  
Industrial Bank Co., LTD. Shanghai Pudong branch(i)   3.50%-4.50%   December,2026     5,005       5,158  
Bank of Nanjing North Bund Branch(i)   4.00%   March,2027     2,860       2,948  
Putuo Branch of Shanghai Pudong Development Bank(i)   3.00%   May,2027     -       4,420  
ICBC Shanghai Zhang Jiang high tech Park Branch(i)   3.90%   December,2026     2,860       2,948  
Xiamen International Bank Shanghai Jinqiao Branch(i)   4.90%   September to December,2026     2,860       2,948  
Bank of Ningbo Co., LTD. Shanghai Lianyang branch(i)   3.95%   June,2027     2,860       2,948  
Bank of Jiangsu Co., LTD. Songjiang branch(i)   3.50%-3.70%   January to March,2027     2,860       2,948  
Agricultural Bank of China Co., LTD. Shanghai Xuhui branch(ii)   2.80%-2.82%   August to November ,2026     2,860       2,948  
Bank of China Limited Shanghai Zhabei branch(ii)   2.60%   September 2026 to May 2027     1,430       2,948  
China Minsheng Bank Co., LTD. Shanghai branch(i)   2.85%-2.95%   July 2026 to June 2027     1,430       2,940  
China Construction Bank Shanghai Jing'an Branch(i)   2.50%   April to June,2027     2,717       2,653  
Bank of China Limited Shanghai Zhabei branch(i)   3.90%-4.10%   July 2026 to June 2027     2,788       1,916  
Shanghai Rural Commercial Bank Co., Ltd. Huangpu Branch(i)   3.50%   December,2026     2,145       1,474  
Bank of Beijing Shanghai Branch(i)   3.00%   September,2026     1,430       1,474  
Bank of Beijing Shanghai Branch(ii)   3.00%   September 2026 to March 2027     1,430       1,474  
Bank of Beijing Shanghai Branch   3.00%   December,2026     1,430       1,474  
Huangpu Branch of Bank of Shanghai(i)   3.50%   March,2027     1,430       1,474  
Agricultural Bank of China Co., LTD. Shanghai Minhang branch(ii)   2.75%   November,2026     1,430       1,474  
Guangfa Bank Co., LTD. Shanghai branch(ii)   3.45%   July,2026     1,430       1,474  
China Minsheng Bank Co., LTD. Shanghai branch   2.85%   June,2027     4,147       1,466  
China CITIC Bank Shanghai Pudian Road Branch(i)   4.00%   June,2026     2,831       -  
Bank of Nanjing North Bund Branch(ii)   4.50%   March ,2027     2,145       1,474  
China CITIC Bank Shanghai Pudian Road Branch   4.00%   March to June,2026     1,416       -  
Total short-term borrowings           $ 80,394     $ 80,456  
Long-term borrowing, current                        
Wenzhou Bank Co., Ltd. Shanghai Putuo Branch(i)   4.99%   August 2026 to February 2027   $ 71     $ 74  
Long-term borrowing, non-current                        
Wenzhou Bank Co., Ltd. Shanghai Putuo Branch(i)   4.99%   October,2028     1,358       1,363  
Total long-term borrowing           $ 1,429     $ 1,437  

 

As of December 31, 2025 and June 30, 2026, the bank borrowings were for working capital and capital expenditure purposes borrowings consisted of the following:

  

(i) As of December 31, 2025 and June 30, 2026, the bank borrowings of $64,105 and $67,161 were guaranteed by SunCar Online, one of subsidiaries of the Group, respectively.

 

(ii) As of December 31, 2025 and June 30, 2026, the bank borrowings of $10,725 and $11,792 were guaranteed by Shengda Automobile, one of subsidiaries of the Group, respectively.

 

(iii) The Group fully repaid the outstanding loan prior to the reporting date, and the lending arrangement was subsequently renewed.