Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 217

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 19
Chunk 217
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 -         
  Balance at the end of the year               $                                  179,540      $         206,168      $         -         

  LONG-TERM    

Long-term
investments are investment in equity securities.

In
October 2024, the Group subscribed for US$ 4,900,000 4.9

Between
September 2024 and November 2024, the Group invested a total of US$ 15,100,000

Both
investments are accounted for as equity securities in accordance with ASC 321. Neither of the investments have a readily determinable
fair value, and qualify for the NAV practical expedient. Therefore, the Group applies NAV to measure the fair value of equity securities
in accordance with ASC 820. There is no indication that both investments are probable of being sold at amounts different from NAV per
share. For the year ended June 30, 2025, fair value changes recognized for equity investments measured using NAV practical expedient
were US$ 336,325

  PROPERTY            

Property
and equipment, net, consisted of the following:

                                                                As of June 30,                                              
                                                                2025                                 2024                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Vehicles                                                      $                     1,300,056      $           1,787,852  
  Machinery and equipment                                                               526,549                    476,924  
  Office and electronic equipment                                                       119,005                    115,029  
  Leasehold improvement                                                                  64,428                     63,510  
  Software                                                                               11,525                     11,361  
  Construction in progress                                                                    -                      3,553  
  Subtotal                                                                            2,021,563                  2,458,229  
  Less: accumulated depreciation of property and equipment                          ( 1,204,471                ( 1,167,822  
  Less: impairment charges of property and equipment                                  ( 103,690                  ( 199,670  
  Total property and equipment, net                             $                       713,402      $           1,090,737  

Construction
in progress as of June 30, 2024 mainly represents the projects relate to modification of vehicles for exhibition and promotion purposes.

Depreciation
expense was US$ 301,159 542,398 446,335

Impairment
charge was US$ 46,185 200,