Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 72

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 5
Chunk 72
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 expense as a result of reversal of provision for expected credit losses.
 
Research and development expenses
 
Our research and development expenses decreased by 8.4% from US$0.9 million for the six months ended December 31, 2023 to US$0.8 million for the six months ended December 31, 2024, primarily attributable to a decrease of US$0.1 million in material fee for research purposes due to the decrease of vehicle models in development.
 
Selling and marketing expenses
 
Our selling and marketing expenses decreased by 56.9% from US$0.5 million for the six months ended December 31, 2023 to US$0.2 million for the six months ended December 31, 2023, primarily due to (1) a decrease of US$0.2 million in marketing expenses for brand promotion and customer relationship development; and (2) a decrease of US$0.1 million in employee compensation, depreciation expense and other expenses.
 
Impairment loss of long-lived assets
 
Our impairment loss of long-lived assets was US$49,180 and nil for the six months ended December 31, 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-lived assets impairment, and measured impairment by comparing the carrying value of the long-lived assets to the market price.
 
15

 

Other (expenses)/income, net
 
Our total other (expenses)/income, net changed from other income, net of US$35 thousand for the six months ended December 31, 2023 to other expenses net of US$0.1 million for the six months ended December 31, 2024.
 
Our other income, net decreased from US$0.2 million for the six months ended December 31, 2023 to US$39 thousand for the six months ended December 31, 2024, primarily attributable to the decrease in government subsidy and gain from disposal of property and equipment.
 
Our interest expenses, net mainly consist of interest income and interest expense, bank charges and exchange gain or loss. Our interest expenses, net slightly decreased from US$185 thousand for the six months ended December 31, 2023 to US$141 thousand for the six months ended December 31, 2024 primarily due to a decrease in weighted average interest rates.
 
Net loss
 
As a result of the foregoing