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SunCar Gains on Hookup with Ping An

SunCar Technology Group Inc. (NASDAQ: SDA) shares gained Monday, as the company purporting to be an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce a new strategic collaboration with Ping An Property & Casualty Insurance Co., Ltd. (Shenzhen Branch), a subsidiary of Ping An Insurance Group Co. of China Ltd one of the five largest insurance companies in the world and a long term enterprise client of SunCar's.

This partnership aims to enhance the airport pickup services provided to Ping An's high-value clients, reflecting SunCar and Ping An's continued commitment to excellence and customer satisfaction.

Under this new agreement, Ping An P&C Shenzhen becomes the seventh branch of Ping An to partner with SunCar for this premium service, joining the ranks of Guangdong, Fujian, Ningbo, Shanghai, Beijing, and Shanxi branches. This agreement with SunCar supports Ping An's commitment to offering premium value-added services to its clients, fostering long-lasting relationships.

SunCar has a proven track record with Ping An, having provided auto services to multiple branches of Ping An for years. This expansion includes airport pickup services and highlights the exceptional quality of SunCar's offerings. SunCar expects more Ping An branches to utilize more of SunCar's services in the near future.

SDA shares grabbed seven cents to S7.64.