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SCAG

Scage Future American Depositary Shares

SCAG

Scage Future American Depositary Shares • NASDAQ
$1.82 ▼ -1.09% (-0.02)
Market Cap $131.48 M
52w High $24.47
52w Low $1.35
Dividend Yield 0%
P/E -10.11
Volume 320
Outstanding Shares 72.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $0 $469.955K ▲ $-310.677K ▼ 0% $-0.058 ▼ $-310.677K ▼
Q3-2024 $0 $375.172K ▼ $-97.285K ▼ 0% $-0.015 ▼ $-97.285K ▼
Q2-2024 $0 $455.763K ▲ $-49.619K ▼ 0% $-0.007 ▼ $-49.619K ▼
Q1-2024 $0 $321.203K ▼ $242.095K ▲ 0% $0.027 ▲ $242.095K ▲
Q4-2023 $0 $511.435K $82.481K 0% $0.009 $82.481K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $769 ▼ $10.234M ▼ $5.112M ▲ $5.122M ▼
Q3-2024 $7.555K ▼ $26.173M ▲ $4.582M ▼ $21.591M ▲
Q2-2024 $1.977M ▲ $10.557M ▼ $36.835M ▲ $-25.999M ▼
Q1-2024 $5.436K ▼ $52.146M ▲ $3.5M ▼ $48.646M ▲
Q4-2023 $1.991M $10.944M $32.712M $-21.479M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-310.677K ▼ $-133.975K ▲ $16.077M ▲ $-15.95M ▼ $-6.786K ▲ $-133.98K ▲
Q3-2024 $-97.285K ▼ $-247.719K ▼ $-112.5K ▼ $332.251K ▲ $-27.968K ▼ $-247.72K ▼
Q2-2024 $-49.619K ▼ $-234.264K ▲ $26.733M ▲ $-26.469M ▼ $30.087K ▲ $-234.26K ▲
Q1-2024 $242.095K ▲ $-261.957K ▲ $-300K $567.356K ▼ $5.399K ▲ $-261.96K ▲
Q4-2023 $82.481K $-543.333K $-300K $842.503K $-830 $-543.33K

Five-Year Company Overview

Income Statement

Income Statement SCAG’s income statement looks like that of a very early-stage company. Revenue is essentially non‑existent so far, and the business has been running at a steady loss for several years. Losses per share have narrowed over time, but they are still clearly negative. Because there is no meaningful sales base yet, profitability metrics and margins are not very informative. The pattern suggests SCAG is still in a development and piloting phase, investing ahead of commercialization rather than operating as a scaled manufacturer. Future results will likely be driven more by whether it can convert its technology pipeline into real fleet orders than by any current income trends.

Balance Sheet

Balance Sheet The balance sheet is very small and thinly capitalized, consistent with a young, pre‑scale industrial company. Total assets are limited, with no visible cash cushion in the historical data, and only modest levels of debt. Shareholders’ equity was negative for several years and has only recently turned slightly positive, indicating that past losses have largely eaten through earlier capital. Overall, the company appears financially fragile on its own balance sheet and is likely dependent on external funding—such as its recent listing and future capital raises—to support growth, tooling, and working capital needs.

Cash Flow

Cash Flow Cash flow patterns show a business that has been consuming cash rather than generating it, although the absolute amounts are small. Operating cash flow has been negative in most years, and free cash flow has also been negative, reflecting ongoing spending without offsetting revenue. There is little sign of heavy investment in physical assets yet, which aligns with an early commercialization phase and possibly a partnership or outsourced manufacturing model. Going forward, scaling production, building inventory, and supporting after‑sales service will likely require higher cash outlays, making access to financing and careful cash management important risk areas.

Competitive Edge

Competitive Edge SCAG is trying to position itself in a very specific niche: heavy‑duty new‑energy trucks for mining, ports, and long‑haul logistics, with a strong emphasis on hybrids and autonomy. This focus on demanding use cases—where uptime, power, and safety matter more than passenger comfort—can create higher barriers to entry than in standard light‑duty vehicles. Its strengths appear to be in specialized plug‑in hybrid powertrains, integrated electric drive axles, and tailored products like the Dragon King mining truck, Galaxy II long‑haul truck, and unmanned Sky Turtle dump truck. Partnerships with established manufacturers may help with production quality. However, SCAG operates in one of the world’s most competitive markets for commercial vehicles and new‑energy technologies, alongside very large players such as Sinotruk, FAW, BYD, and XCMG. These rivals benefit from scale, brand recognition, large R&D budgets, and existing sales and service networks. SCAG’s niche strategy offers differentiation, but its bargaining power and staying power against bigger competitors remain uncertain until it proves broad customer adoption.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of SCAG’s story. The company is investing in advanced plug‑in hybrid systems for heavy trucks, proprietary dual‑motor drive axles, sophisticated energy‑recovery and battery‑cooling systems, and scenario‑specific autonomous driving (for example, unmanned trucks in closed mining sites). Its pipeline points to further ambition: hydrogen‑assisted trucks, e‑fuel solutions, all‑electric port tractors, and extended‑range hybrid vehicles for long‑distance transport. This breadth suggests strong engineering ambition and a desire to cover multiple technological pathways rather than betting on a single drivetrain. The flip side is that such a wide and advanced R&D agenda is costly, technically risky, and may stretch a small company’s resources. Much of the proposed technology, especially hydrogen and e‑fuels, is still early for commercial heavy‑duty use. The key uncertainty is not only whether SCAG can invent these solutions, but whether it can industrialize, support, and sell them at scale before larger incumbents fully occupy the same niches.

Summary

Overall, SCAG looks like a very early‑stage, technology‑driven industrial company with an ambitious plan and very limited financial traction so far. The historical accounts show almost no revenue, ongoing losses, thin capitalization, and reliance on external funding, which collectively point to meaningful financial and execution risk. Strategically, the company is targeting a clear niche in heavy‑duty new‑energy and autonomous trucks for demanding environments, backed by a deep innovation pipeline in hybrid, autonomous, hydrogen, and e‑fuel technologies. If SCAG can convert these technical capabilities into reliable products with long‑term customer contracts, it could carve out a specialized position in the heavy commercial segment. At this stage, however, the business is still largely a development story rather than a proven operating franchise. Future outcomes will depend heavily on its ability to secure capital, scale production, compete with much larger Chinese OEMs, and achieve consistent commercial adoption in the mining, logistics, and port sectors.