Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 384

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 384
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 US$5.6 million for the fiscal year ended June 30, 2024. Our cost of revenues related to sales of NEVs and components increased significantly from US$0.8 million for the fiscal year ended June 30, 2023 to US$5.6 million for the fiscal year ended June 30, 2024, which was generally in line with the growth in the sales of NEVs and components. For the fiscal year ended June 30, 2024, we achieved better cost control on the production of Q -trucksas we gained more bargaining power from supply chain for bulk purchase orders. Our cost of revenues related to leasing of NEVs were nil and US$34,412 for the fiscal years ended June 30, 2024 and 2023, respectively. Gross profit/(loss) and gross profit/(loss) margin As a result of the foregoing, we recorded gross profit of US$0.5 million and gross loss of US$0.4 million for the fiscal years ended June 30, 2024 and 2023, respectively, representing gross profit margin of 8.8% and gross loss margin of 81.6% for the same years, respectively. As mentioned in the analysis of cost of revenues, we achieved gross profit for the fiscal year ended June 30, 2024, mainly due to: (i) increase of sales and (ii) better cost control on the production of Q -trucks, partially offset by the increase in the provision for inventory reserves. We expect that our gross margin will improve as the scale of economy of our business increases in accordance with the increase in our vehicle and component sales. 188 Operating expenses Our operating expenses increased by 0.8% from US$6.4 million for the fiscal year ended June 30, 2023 to US$6.4 million for the fiscal year ended June 30, 2024, primarily due to the following reasons. General and administrative expenses Our general and administrative expenses increased by 32.0% from US$2.9 million for the fiscal year ended June 30, 2023 to US$3.9 million for the fiscal year ended June 30, 2024, primarily attributable to: (1) an increase of US$0.7 million in professional service fees, such as operation advisory fees and legal fees for listing; (2) an increase of US$0.3 million in bad debts expenses based on expected