Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 385

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 385
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 credit losses assessment; and (3) an increase of US$0.1 million in travelling and lodging expenses in business development as a result of business expansion; partially offset by a decrease of US$0.1 million in employee compensation as a result of personnel optimization. Research and development expenses Our research and development expenses decreased by 26.1% from US$2.3 million for the fiscal year ended June 30, 2023 to US$1.7 million for the fiscal year ended June 30, 2024, primarily attributable to: (1) a decrease of US$0.5 million in employee compensation as a result of personnel optimization; and (2) a decrease of US$0.3 million in material and testing fee for research purposes due to the decrease of vehicle models in development; partially offset by a slight increase of US$0.3 million in other expenses related to R&D function such as depreciation and amortization expenses, technical service fees and travelling and lodging expenses to enhance operation efficiency related to R&D functions. Selling and marketing expenses Our selling and marketing expenses decreased by 43.0% from US$1.1 million for the fiscal year ended June 30, 2023 to US$0.6 million for the fiscal year ended June 30, 2024, primarily due to: (1) a decrease of US$0.2 million in employee compensation as a result of personnel optimization; and (2) a decrease of US$0.2 million in marketing expenses for brand promotion and customer relationship development as we focused more on the bulk order of Q -trucksduring the fiscal year 2024. Impairment loss of long-lived assets Our impairment loss of long -livedassets were US$0.2 million and nil for the fiscal years ended June 30, 2024 and 2023, respectively, as we identified events and changes in circumstances that indicated the carrying amount of an asset may no longer be recoverable in the review of long -livedassets impairment, and measured impairment by comparing the carrying value of the long -livedassets to the market price. Other (loss)/income, net Our total other (loss)/income, net changed from other income, net of US$0.1 million for the fiscal year ended June 30, 2023 to other loss, net of US$0.1 million for the fiscal year ended June 30, 2024. Our other income, net slightly increased from US$