Scage Future

Scage Future announced that its subsidiary, Guizhou Scage Tech Ltd., has entered into a strategic cooperation agreement with China Huaye Group Co., Ltd. This non-binding, one-year framework agreement aims to foster collaboration across various sectors including infrastructure, mining, renewable energy, and financial services. A key aspect of the potential collaboration involves Scage Future's plan to deploy up to 1,000 electric heavy-duty trucks for mining transportation, featuring autonomous capabilities to enhance operational efficiency and safety.

Scage Future reported unaudited financial results for the first six months of fiscal year 2026, ending December 31, 2025. The company saw a significant revenue increase of 91.3% to US$13.7 million, primarily driven by NEV and component sales. Gross profit turned positive to US$0.2 million from a loss in the prior year, and net loss decreased by 30.5% to US$3.7 million. However, interest expense, net, rose sharply by 652.5% to US$1.1 million.

Scage Future announced several changes to its Board of Directors and Audit Committee. Chao Gao resigned from the Audit Committee, leading to the appointment of Kevin Chen as Chairman and Yixian Wang as a new member. Additionally, independent director Yuanchi Guo resigned from the Board, with no successor named yet. All resignations were attributed to personal reasons.

Scage Future announced it received a notification from Nasdaq on June 11, 2026, indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company has 180 calendar days to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. Scage is monitoring its share price and may consider a reverse share split, though its operations are currently unaffected.

Scage Future received a Nasdaq deficiency notice on June 11, 2026, for failing to maintain a minimum bid price of $1.00 per share over the last 30 consecutive business days. The company has 180 calendar days, until December 8, 2026, to regain compliance by achieving a closing bid price of at least $1.00 for 10 consecutive business days. Additionally, independent director Mr. Calvin Kung resigned on April 8, 2026, due to unresolved disagreements related to the company's operations, and a successor has not yet been appointed.

Scage Future announced the resignation of Mr. Calvin Kung, an independent director, effective April 8, 2026. Mr. Kung's departure was due to unresolved disagreements with the company regarding its operations. The company has not yet appointed a successor to fill the vacant independent director position.