Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 79

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 79
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 demand for specialized oilfield equipment and vehicle, which was partially offset by the increase of income from automation solutions and others. Gross profit margin decreased from 31.97% for the year ended June 30, 2023 to 29.99% for the year ended June 30, 2024. The decrease was mainly driven by increasing price of raw materials of specialized oilfield equipment, which accounted for 46.93% of the total revenue for the year ended June 30, 2024, compared with 65.82% in the same period of 2023. For the year ended June 30, 2024, the gross profit margin for the specialized oilfield equipment was 33.59%, while the gross profit margin for the specialized oilfield vehicles was 28.17%.
 
Key Factors Affecting Our Results of Operations
 
We believe the following key factors may affect our financial condition and results of operations:
 

●                                                               our                                                            
                                              ability to maintain our major customers;                                         
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●   our                                                                                                                        
    ability to attract new customers and to increase our revenue per customer;                                                 
●   our                                                                                                                        
    ability to enhance our operational efficiency; and                                                                         
●   our                                                                                                                        
    ability to acquire sufficient parts and materials and key components from their suppliers in suitable quantity and quality.

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Results of Operations
 
The following table sets forth a summary of our consolidated statements of (loss) income and comprehensive (loss) income for the years ended June 30, 2025, 2024 and 2023, respectively. This information should be read together with our consolidated financial statements and related notes included elsewhere in this annual report. The results of operations in any period are not necessarily indicative of our future trends.

                                                                           For the Years Ended June 30,                                                    Variance                      
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                                           2025                           2024                            2023                           Amount                                    %     
Revenues                                       $24,914,618                             $18,918,847                     $21,146,463       $5,995,771                            31.69   % 
Cost of revenues                                       (17,224,749    )                (13,245,171    )                (14,385,492   )           (3,979,578   )                30.05   % 
Gross profit                                             7,689,869                       5,673,676                       6,760,971                2,