Company: STAK
Filing Date: 2025-02-26
Form Type: 424B4
Source: 0001493152-25-008310
Chunk: 87

Company: STAK Inc.
Filing Date: 2025-02-26
Form: 424B4
Chunk 87
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 annual taxable sales reaches RMB 20,000/square meter, the local government will reimbursed 50% of the rent cost, (iii) when the annual taxable sales reaches RMB 30,000/square meter, the local government will reimbursed 70% of the rent cost, and (iv) when the annual taxable sales reaches RMB 50,000/square meter, the local government will reimbursed the 100% of the rent cost; (c) provide certain reward up to 70% of YLAN’s comprehensive contribution to Tianning Economic Development Zone, which will be evaluated by the local government; (d) coordinate with YLAN to provide fully or semi-closed test site for YLAN to test its vehicles in 2021 and 2022; (e) provide tax incentives including (i) 15% income tax prepayment declaration subject to the provisions of the Enterprise Income Tax Law and its implementing regulations, and (ii) 50% tax deduction for the research and development expenses at the time of annual remittance on top of the actual deduction in accordance with the regulations; (f) grant up to RMB 5 million loan interest subsidies provided that YLAN meets certain provincial requirements; (g) consider to grant YLAN a one-time reward of RMB 500,000 and RMB 100,000 for the mayor and district mayor quality award provided that YLAN meets the requirements of the Administrative Measures for Changzhou Mayor’s Quality Award and Tianning District Mayor Quality Award Management Measures; and (h) provide up to RMB 162,000 rent subsidies and up to RMB 1 million or 6 million entrepreneurial funding to the talents brought by YLAN. Pursuant to the Investment Promotion and Protection Agreement, the Company received $45,638 and $595,593 subsidies from the local government for the fiscal years ended June 30, 2024 and 2023.

YLAN, an operating entity of STAK Inc. in mainland China, specializes in the research, manufacturing, sale, and related services of oilfield-specialized production and maintenance equipment. In April 2022, YLAN incorporated Changzhou Zhongshan Intelligent Equipment Co., Ltd. to engage in the comprehensive research and development, manufacturing, sale, and related services of specialized trucks through collaboration with specialized vehicle manufacturers. Our initial public offering plan has received support from the local government, and it was included in the list of prospective listed companies by the People’s Government of Tianning District of Chang