Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 78

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 78
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ITEM   OPERATING AND FINANCIAL
 5.      REVIEW AND PROSPECTS 
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You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our consolidated financial statements and the related notes included elsewhere in this annual report. This discussion contains forward-looking statements that involve risks and uncertainties about our business and operations. Our actual results and the timing of selected events may differ materially from those anticipated in these forward-looking statements as a result of various factors, including those we describe under “Item 3. Key Information—3.D. Risk Factors” and elsewhere in this annual report.
 

5.A.   Operating
        Results 
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Overview
 
We are a holding company with operating subsidiaries, and with all of our operations and assets in mainland China. We are a fast-growing company specializing in the research, development, manufacturing, and sale of oilfield-specific production and maintenance equipment. We design and manufacture the oilfield-specialized production and maintenance equipment, then collaborate with qualified specialized vehicle manufacturing companies to integrate the equipment onto vehicle chassis, producing specialized oilfield vehicles for sale. Additionally, we sell oilfield-specialized equipment components, related products, and provide automation solutions.
 
Our vision is to help oilfield services companies reduce costs and increase efficiency by providing the cutting-edge integrated oilfield equipment and automation solutions service. Our mission is to become a powerful provider for the niche markets of specialized oilfield vehicles and equipment in China.
 
Our total revenue increased from $18.9 million for the year ended June 30, 2024 to $24.9 million for the year ended June 30, 2025, representing a year-on-year growth rate of 31.69%. The increase in revenues was mainly driven by the increase in sales of specialized oilfield vehicle of $5.5 million and sales of specialized oilfield equipment of $3.1 million, partially offset by the decrease of other revenue of $2.6 million. Gross profit margin remained steady with a slight increased from 29.99% for the year ended June 30, 2024 to 30.86% for the year ended June 30, 2025.
 
Our total revenue decreased from $21.1 million for the fiscal year ended June 30, 2023 to $18.9 million for the fiscal year ended June 30, 2024, representing a year-on-year decline rate of 10.53%. The decrease in revenues was mainly driven by the decrease in