Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 70

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 5
Chunk 70
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 100% of the qualified R&D expenses incurred in determining its tax assessable profits for that year.
 
Comparison of Six Months ended December 31, 2024 and 2023
 
Revenues
 
Our revenues increased significantly from US$3.2 million for the six months ended December 31, 2023 to US$7.1 million for the six months ended December 31, 2024.
 
Revenues from sales of NEVs and components increased significantly from US$3.2 million for the six months ended December 31, 2023 to US$7.0 million for the six months ended December 31, 2024. The significant increase was primarily attributable to the increase in sales of NEV components, partially offset by the decrease in in sales of NEVs. We sold 24 sets of Artificial-intelligent Robot Transportation (“ART”) components, 54 sets of NEV batteries and six Dragon II for the six months ended December 31, 2024, compared with 43 Q-trucks and one electric tractor truck for the six months ended December 31, 2023.
 
Revenues from provision of vehicle modification services were US$99,720 and nil for the six months ended December 31, 2024 and 2023. We provide vehicle modification services as ancillary services to purchasers of our vehicles, and therefore, such customer demand may fluctuate.
 
Revenues from leasing of NEVs were US$6,955 and nil for the six months ended December 31, 2024 and 2023.
 
Cost of revenues
 
Our cost of revenues increased significantly from US$2.6 million for the six months ended December 31, 2023 to US$7.9 million for the six months ended December 31, 2024.
 
Our cost of revenues related to sales of NEVs and components increased significantly from US$2.6 million for the six months ended December 31, 2023 to US$7.8 million for the six months ended December 31, 2024. Such significant increase was primarily attributable to (1) the increase in manufacturing and purchase cost of NEVs and components, which was basically in line with the growth in the sales of NEVs and components, and (2) the increased reserves for estimated warranty costs for corresponding sales during the period; partially offset by the decrease in inventory write-down as a result of decrease in overall inventory level as of December 31, 2024 compared to