Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 77

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 5
Chunk 77
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,075,989                        667,389    
 
18

 

Operating activities
 
Our net cash used in operating activities was US$1.7 million for the six months ended December 31, 2024, which was primarily attributable to a net loss of US$4.0 million, as adjusted for (1) certain non-cash items, primarily including reserve for warranty costs of US$0.3 million, depreciation of property and equipment of US$0.2 million, inventory write-down of US$0.1 million and amortization of right-of-use assets of US$0.1 million; and (2) changes in working capital that negatively affected the cash flow from operating activities, primarily including an increase in accounts receivable of US$4.1 million mainly due to the increased sales of NEV components; an increase in prepaid expenses and other current assets of US$0.2 million mainly due to the increased advances for services; partially offset by (3) changes in working capital that positively affected the cash flow from operating activities, primarily including an increase in accounts payable of US$5.9 million mainly due to the increased payables to suppliers which was basically in line with the increased sales, and an increase in accrued expenses and other payables of US$0.1 million due to the increased professional service fees payable.
 
Our net cash used in operating activities was US$6.2 million for the fiscal year ended June 30, 2024, which was primarily attributable to a net loss of US$6.0 million, as adjusted for (1) certain non-cash and items, primarily including inventory write-down of US$0.9 million, depreciation of property and equipment of US$0.5 million and provision of credit losses of US$0.3 million; and (2) changes in working capital that negatively affected the cash flow from operating activities, primarily including an increase in accounts receivable of US$2.0 million mainly due to the increased sales of NEVs; a decrease in contract liabilities of US$0.6 million due to the decrease of advances received from customers; a decrease in accounts payable of US$0.2 million due to timely payments for purchase of inventories; and a decrease in operating lease liabilities of US$0.2 million due to the increase of lease payments; partially offset by (3) changes in working capital that positively affected the cash flow from operating activities, primarily including a decrease in inventories of US$0.5 million due