Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 282

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 282
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 segregated into four categories: (i) taxes & fees, (ii) sales cost, (iii) general & administrative and (iv) research & development. Sales cost mainly consist of employee compensation, marketing and advertising expenses. General and administrative mainly consist of employee compensation and professional service fees. Research and development mainly consist of employee compensation in relation to R&D activities, and materials and supplies •Depreciation expenses are not an input to the operating expense projections and are not directly as percentage of revenue. Rather, depreciation expense is derived from assumptions regarding the deprecation of existing assets and capital expenditures. •Operating expenses do not includeother income (expenses) such as those arising from short -terminvestments and other income, net, interest expenses. Updated Projections In the preparation of the Updated Projections, Scage management utilized the assumptions which were applied to the Initial Projections. However, Scage management noted certain specific assumptions which were updated for the Updated Projections with respect to various future financial factors that are likely to have a significant impact on the Company’s operations, especially the projected revenue growth, including, primarily: •delays in consummating the Business Combination and securing additional funds necessary for sustaining Scage International’s growth strategies; •anticipated status of both realized and expected customer orders during Fiscal Year 2024, which is expected to result in a notable decline in revenue compared to the Initial Projections; •current status of overseas shipment schedules, coupled with the prolonged customs clearance procedures in various international markets, potentially leading to delays in the delivery of vehicles; •current demand for products, supported by an aggregated signed memoranda of understanding (MOUs) of approximately 9,000 trucks globally as of December31, 2023, along with the corresponding anticipated delivery timeline spanning the next 2 to 3 years; and •impact of macroeconomic factors, including slower than expected global economic growth, regulatory challenges, and competitive pressures within the global new energy vehicle industry.

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The Updated Projections with respect to revenue are set forth below:

|                                   |     | (Figures in RMB thousands)            
 For the Projected Fiscal Year Ending: |        |     |           |           |     |           |           |     |           |           |
|:----------------------------------|:----|:--------------------------------------|-------:|:----|:----------|----------:|:----|:----------|----------:|:----|:----------|----------:|
| Revenue                           |     | 30-Jun-24                             |        |