Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 14

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 14
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”) trucks and e-fuel solutions. We have participated in the design, production and testing of several NEV trucks,
covering application scenarios for logistics, mining and port transportation. Galaxy IItruck that we collaborated
in developing is one of the earliest hybrid heavy-duty NEV trucks commercialized in China.

We provide technology-empowered NEV trucks to address the diverse
commercial transportation needs of our global customers. Our current vehicle offerings include Dragon King, a plug-in hybrid
dump truck, primarily designed for mining and other heavy-duty loading and offloading uses, Galaxy II, a plug-in hybrid
truck, primarily designed for long-distance road transportation and logistics services, andQ-truck, an autonomous tractor
trailer, primarily designed for long-distance road transportation and logistics services. In addition, we have three NEV models under
active development in collaboration with relevant vehicle manufacturers, and we anticipate launching in 2025. Our pipeline includes all-electric port
tractors, long-endurance hybrid power tractors, and wide-body, high-power hybrid mining vehicles.

We believe that our advanced
technologies allow us to develop vehicles capable of delivering optimal function in collaboration with vehicle manufacturers. We have
independently developed our electric control and steering system, intelligently distributed hybrid power (“ IDHP”) system and
solid oxide electrolysis cell (“ SOEC”) hydrogen production technology. Furthermore, we have been staying at the forefront
of the industry in the R& D and application of new processes and technologies. We believe our platform-based vehicle design and
development system will enable us to cost-efficiently develop a wide range of vehicle models and provide customized solutions for
our customers in collaboration with vehicle manufacturers.

Quality is of utmost importance
to our business. We implement strict quality control in our R& D and supply chain processes. We strategically collaborate with vehicle
manufacturers, including C& C Trucks Co., Ltd., to ensure stable vehicle manufacturing and delivery capability, while also closely
monitoring the quality of our products.

We generate revenues primarily
from sales of commercial NEVs and components. We recorded revenues of US$6.1 million, US$0.4 million, US$7.1 million and US$3.2 million
in the fiscal years ended June 30, 2024 and 2023 and the six months ended December 31, 2024 and 2023, respectively. We recorded net loss
of US$6.0 million, US$6.6 million, US$4.0