Scage Future Updates Business Performance, Initiates Regular Investor Communications

Scage Future (Nasdaq: SCAG), a provider of new energy and zero-emission heavy-duty commercial vehicles and e-fuel solutions, has issued an update detailing its commercial progress, technology portfolio, and growth initiatives. The company also announced the launch of a program for regular operational updates to investors, providing a recap of its Nasdaq listing compliance status.

The company is currently facing challenges in meeting certain Nasdaq continued listing requirements, including minimum bid price, market value of listed securities, and market value of publicly held shares. Scage Future has compliance periods extending through December 2026 and February 2027 to rectify these issues. The company's American depositary shares continue to trade on the Nasdaq Global Market under the symbol SCAG, and no immediate delisting or suspension has occurred.

As of June 30, 2026, Scage Future had cumulatively delivered 203 vehicles, comprising 154 autonomous port tractors and 47 Galaxy II plug-in hybrid trucks. During the fiscal year ended June 30, 2026, the company delivered 78 autonomous port tractors and 40 Galaxy II units. In the first six months of that fiscal year, new orders for 43 vehicle units were received, with an aggregate contract value of approximately RMB 26.86 million.

Nanjing Scage, the company's operating subsidiary, holds 96 granted patents and 17 pending patent applications in China, along with one jointly registered patent in Canada. Its core technologies, including its intelligently distributed hybrid power (IDHP) system, solid oxide electrolysis cell (SOEC) hydrogen production, and L4 intelligent drive-by-wire chassis, are developed in-house. Approximately 40% of the company's 85 employees are engaged in research and development activities.