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SunCar Technology Group ( (SDA) ) just unveiled an update.
SunCar Technology Group announced on February 7, 2025, a share repurchase program authorized by its board to buy back up to $30 million of its outstanding Class A ordinary shares. This initiative reflects the company’s confidence in its long-term growth prospects and aims to enhance shareholder value. The repurchases will be funded through cash on hand and cash generated from operations and will be conducted over the next 12 months. SunCar’s management believes this move will support its leadership position in the digitalized enterprise auto services and auto eInsurance markets in China.
More about SunCar Technology Group
SunCar Technology Group Inc., founded in 2007, is a leading provider of cloud-based B2B auto services and auto e-insurance in China. The company has established itself as a prominent player in the largest passenger vehicle market globally, offering a wide range of auto services and insurance options through a comprehensive network of sales partners. SunCar’s intelligent cloud platform connects drivers with services from numerous independent providers, enhancing the customer journey for auto services and insurance in the Chinese market.
YTD Price Performance: -41.73%
Average Trading Volume: 527,976
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $532.7M
Find detailed analytics on SDA stock on TipRanks’ Stock Analysis page.
