Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 73

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 5
Chunk 73
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, our net loss increased by 45.3% from US$2.8 million for the six months ended December 31, 2023 to US$4.0 million for the six months ended December 31, 2024.
 
Comparison of Fiscal Years ended June 30, 2024 and 2023
 
Revenues
 
Our revenues increased significantly from US$0.4 million for the fiscal year ended June 30, 2023 to US$6.1 million for the fiscal year ended June 30, 2024.
 
Revenues from sales of NEVs and components increased significantly from US$0.4 million for the fiscal year ended June 30, 2023 to US$6.1 million for the fiscal year ended June 30, 2024. The significant increase was primarily attributable to bulk orders of Q-trucks from one major customer during 2023. We sold 82 Q-trucks, one Galaxy II high-end version model, and one electric tractor truck for the fiscal year ended June 30, 2024, compared with three Galaxy II models and 10 light passenger EVs for the fiscal year ended June 30, 2023.
 
Revenues from leasing of NEVs were nil and US$16,290 for the fiscal years ended June 30, 2024 and 2023, respectively, as such lease term of NEVs expired in February 2023.
 
Cost of revenues
 
Our cost of revenues increased significantly from US$0.80 million for the fiscal year ended June 30, 2023 to US$5.6 million for the fiscal year ended June 30, 2024.
 
Our cost of revenues related to sales of NEVs and components increased significantly from US$0.8 million for the fiscal year ended June 30, 2023 to US$5.6 million for the fiscal year ended June 30, 2024, which was generally in line with the growth in the sales of NEVs and components. For the fiscal year ended June 30, 2024, we achieved better cost control on the production of Q-trucks as we gained more bargaining power from supply chain for bulk purchase orders.
 
Our cost of revenues related to leasing of NEVs were nil and US$34,412 for the fiscal years ended June 30, 2024 and 2023, respectively.
 
Gross profit/(loss) and gross profit/(loss) margin
 
As a result