Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 327

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 327
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, we have three NEV models under active development in collaboration with relevant vehicle manufacturers and anticipate launching them in 2024. Our pipeline includes all -electricport tractors, long -endurancehybrid power tractors, and wide -body, high -powerhybrid mining vehicles. We believe that our advanced technologies allow us to develop vehicles capable of delivering optimal function in collaboration with vehicle manufacturers. We have independently developed our electric control and steering system, intelligently distributed hybrid power (“IDHP”) system and our solid oxide electrolysis cell (“SOEC”) hydrogen production technology. Furthermore, we have been staying at the forefront of the industry in the R&D and application of new processes and technologies. We believe our platform -basedvehicle design and development system will enable us to cost -efficientlydevelop a wide range of vehicle models and provide customized solutions for our customers in collaboration with vehicle manufacturers. Quality is of utmost importance to our business. We implement strict quality control in our R&D and supply chain processes. We strategically collaborate with vehicle manufacturers, including C&C Trucks Co., Ltd., to ensure stable vehicle manufacturing and delivery capability, while also closely monitoring the quality of our products. We generate revenues primarily from sales of commercial NEVs and components. As of September30, 2024, we had received customer orders for 105 NEV trucks. We recorded net revenues of US$6.1million and US$0.4 million in the fiscal years ended June 30, 2024 and 2023, respectively. We recorded net loss of US$6.0million and US$6.6 million in the fiscal years ended June 30, 2024 and 2023, respectively. Market Opportunities We have capitalized and expect to continue to benefit from favorable government policies and industry trends driving the development of the heavy -dutyNEV truck and e -fuelindustries in China and globally. Following the Paris Agreement adopted in December 2015, numerous countries have committed to achieving net -zeroemissions and have formulated plans to drive the development of commercial NEVs and related industries. In China, the development plan for the NEV industry (2021 -2035) was launched in November 2020, aiming to promote full electrification of vehicles for public use, pilot applications for commercial fuel cell vehicles, and the establishment of a hydrogen fuel supply system. In the United States, the Internal Revenue Service (the “IRS”) provides tax credits for businesses that purchase commercial NEVs. These favorable policies are driving the adoption