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Scage Future said it had delivered 203 vehicles cumulatively through June 30, 2026, and reported new orders, energy-storage-system sales and details of its technology portfolio. The company also disclosed several outstanding Nasdaq listing-compliance notices; its shares continue to trade, but it has until specified dates to address the requirements.
Scage Future reported 203 cumulative vehicle deliveries through June 30, 2026, while disclosing that it remains out of compliance with several Nasdaq continued-listing requirements. The Nasdaq-listed commercial-vehicle company said its American depositary shares continue to trade and that the notices have not caused an immediate suspension or delisting, but warned that failure to meet the requirements within the applicable periods could put its listing at risk.
The company’s update, distributed by PR Newswire, said cumulative deliveries since inception comprised 154 autonomous port tractors, 47 Galaxy II plug-in hybrid trucks and two other vehicles. During the fiscal year ended June 30, 2026, Scage reported delivering 78 port tractors and 40 Galaxy II units. It also said it sold 466 vehicle energy storage systems to external customers during that fiscal year. These are company-reported figures; the release did not provide revenue or profitability associated with the deliveries and sales.
For the six months ended June 30, 2026, Scage said it received orders for 43 vehicle units, with an aggregate contract value of approximately RMB 26.86 million. The company said delivered vehicles are operating in port, logistics, concentrated solar power and agricultural applications. It also described a five-year capacity assurance framework agreement with Shanghai Westwell Technology, signed in July 2025. Westwell’s prospectus filed with the Shenzhen Stock Exchange identifies Scage operating subsidiary Nanjing Scage as its largest raw-material supplier in 2023, 2024 and 2025, according to Scage’s update.
Scage also detailed its intellectual-property holdings as of June 30, 2026: Nanjing Scage had 96 granted patents and 17 pending applications in China, as well as joint ownership of one granted Canadian patent. The company said 34 of its 85 employees work in research and development and that it operates a 1,234-square-meter research, development and testing facility in Nanjing. Its release describes work on an intelligently distributed hybrid power system, solid oxide electrolysis cell hydrogen production and an L4 drive-by-wire chassis.
Deliveries Meet Listing Risk
The update gives investors a more detailed view of Scage’s reported commercial activity after a period without periodic operating reports. Its delivery and order figures offer a snapshot of activity across heavy commercial vehicles and related energy-storage products, while the absence of revenue, margins and cash-flow details means they do not establish the financial performance of those operations.
The listing notices create a separate, material issue. Scage said it received a minimum-bid-price notice on June 11, 2026, with a compliance period ending December 8, 2026. Notices received August 27 concerned the market value of listed securities and the market value of publicly held shares, each with a deadline of February 23, 2027. A further notice regarding audit committee composition has a remediation period through December 22, 2026. The company says its Nasdaq Global Market trading continues for now, but the deadlines make compliance progress relevant to shareholders and other market participants.
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From Listing to Regular Updates
Scage said it completed its business combination and Nasdaq listing in June 2025. It said its focus since then had been engineering, product certification and customer delivery, and that it had not issued periodic operating updates. The current release launches what the company calls a program of periodic operating updates, although it did not state a schedule or specify what information future releases will include.
The company describes itself as a provider of new-energy and zero-emission heavy-duty commercial vehicles and e-fuel solutions. Its release says vehicle assembly is conducted with established original equipment manufacturers, including Anhui Wuchuan Feicai, while Nanjing Scage is recorded in Chinese government vehicle-product listings as a powertrain manufacturer for certain plug-in hybrid heavy-truck models. Scage also reported ISO 9001, ISO 14001 and ISO 45001 certifications. These details describe its stated operating and quality systems; they do not independently establish future production or sales levels.
“The Company’s American depositary shares continue to trade on The Nasdaq Global Market under the symbol “SCAG,” and none of these notifications has resulted in the immediate delisting or suspension of the Company’s securities.”
— Scage Future
Compliance and Sales Still Unsettled
The release does not say whether Scage has already taken steps to meet each Nasdaq requirement or whether it expects to do so by the stated deadlines. It also gives no assurance that compliance will be restored. The company cautioned that failure to meet the requirements could result in the delisting of its American depositary shares.
Commercially, the update does not break down the 43 new vehicle orders by customer, model, delivery schedule or cancellation terms. It also does not report the value of the 466 energy-storage-system sales, vehicle-level pricing, revenue, gross margins or cash generated. The release refers to growth initiatives and partnerships, but the supplied details do not establish the scale or expected financial contribution of those efforts. Future update timing and the extent of disclosure remain unspecified.
Nasdaq Deadlines and Further Reports
The next stated milestones are the December 8, 2026 deadline for the minimum bid-price requirement and the December 22, 2026 remediation deadline for audit committee composition. The market-value compliance periods run through February 23, 2027. Scage has not said in this update when it will report on progress against those requirements.
Investors will also be able to assess whether the promised periodic operating updates provide follow-through on orders, deliveries, technology development and partnerships. The company has not announced a release calendar, so the timing and contents of its next update remain unknown.
Key Questions
How many vehicles had Scage Future delivered?
Scage reported 203 cumulative deliveries through June 30, 2026: 154 autonomous port tractors, 47 Galaxy II plug-in hybrid trucks and two other vehicles.
What orders did the company report?
For the six months ended June 30, 2026, Scage said it received orders for 43 vehicle units worth approximately RMB 26.86 million in aggregate. The release did not provide customer or delivery details.
Are Scage shares still trading on Nasdaq?
Yes. Scage said its American depositary shares continue to trade on the Nasdaq Global Market under SCAG and that the notices have not caused immediate delisting or suspension. It warned that the listing could be at risk if it fails to regain compliance.
When are Scage’s Nasdaq compliance deadlines?
The company listed December 8, 2026 for the minimum bid-price requirement, December 22, 2026 for audit committee remediation, and February 23, 2027 for two market-value requirements.
Will Scage issue more operating updates?
The company said it is starting a program of periodic operating updates, but it did not give a schedule or confirm what each update will cover.
Source: primary
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