Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 16

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 16
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 launched three NEVs,
including Dragon King, Galaxy II and Q-truck, and we plan to continuously introduce new models to expand our product portfolio and
customer base. We expect our revenue growth to be driven in part by the continued expansion of our vehicle portfolio.

Our ability to control costs and expenses
and enhance operational efficiency

Our results of operations
have been, and will continue to be, affected by our ability to control costs and expenses and enhance our operational efficiency. We cooperate
seamlessly with suppliers who have been in the industry for more than 10 years and have our bargaining power over the pricing. Cost-effectiveness
is the key to our operational management and profitability. Research and development expenses have historically represented a large portion
of our total costs and expenses, consisting primarily of service fees paid to third-party professional technology developers. General
and administrative expenses and selling and marketing expenses are important components of our costs. As our business grows, we aim to
further improve our operational efficiency by developing technologies and infrastructure across different business functions. We expect
to achieve greater operating leverage and increase the productivity of our personnel, allowing us to acquire customers and suppliers more
cost-effectively and achieve higher operational efficiency.

Results of Operations

The following tables set
forth a summary of our consolidated results of operations, in absolute amount and as a percentage of our revenues for the six months ended
December 31, 2024 and 2023, and for the fiscal years ended June 30, 2024 and 2023. This information should be read together with our consolidated
financial statements, unaudited condensed consolidated financial statements and related notes included elsewhere in this proxy statement/prospectus.
The results of operations in any period are not necessarily indicative of the results that may be expected for any future period.

 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenues                                  6,111,141       100.0         437,970         100.0       7,147,668       100.0       3,248,166  
  Cost of revenues                         (5,574,685       (91.2        (795,286        (181.6      (7,868,925      (110.1      (2,611,815  
  Gross profit/(loss)                         536,456         8.8        (357,316         (81.6        (721,257       (10