Group 1 - Nanjing Sikaiqi Automotive Technology Co., Ltd. successfully listed on NASDAQ through a merger with Finnovate Acquisition Corp, becoming the first Nanjing company to go public in the US this year, with a closing price of $9 and a total market value of $851 million [1][2] - Nanjing Sikaiqi, established in June 2019, is a leading provider of zero-emission technology, focusing on heavy-duty new energy commercial vehicles and innovative clean fuel systems to accelerate the decarbonization of global commercial transportation [1][2] - The company has developed mature experience in the design, production, and testing of new generation heavy-duty new energy commercial vehicles, with representative products including the Longwang II plug-in hybrid dump truck and the Galaxy II plug-in hybrid truck [2] Group 2 - Nanjing has been actively promoting the listing of enterprises in domestic and overseas capital markets, facilitating connections with foreign exchanges and encouraging companies to explore new paths for overseas financing [2] - With the successful listing of Nanjing Sikaiqi, the total number of companies listed in the US from Nanjing has reached six, reflecting the city's efforts to enhance the competitiveness of its enterprises in the global market [2]

Group 1 - Scage International Limited successfully went public on NASDAQ under the ticker SCAG after merging with SPAC Finnovate Acquisition Corp on June 30, 2025 [3] - Scage is a leading provider of zero-emission technology in China, focusing on heavy-duty new energy commercial vehicles and innovative clean fuel systems to accelerate the decarbonization of global commercial transportation [3] - The company has strategic partnerships with top automotive manufacturers and a rigorous quality management system, offering intelligent and high-performance new energy vehicles for logistics, mining, and port transportation [3] Group 2 - Scage has extensive experience in the design, production, and testing of the next generation of heavy-duty new energy commercial vehicles, with key products including the Longwang II plug-in hybrid dump truck and the Galaxy II plug-in hybrid truck [3] - As of the first trading day, Scage's stock closed at $9 per share, with a market capitalization of approximately $6.475 billion [3] - Scage is actively leading the heavy-duty commercial vehicle industry towards sustainable development through its forward-thinking approach to clean energy and future mobility [3]

Core Viewpoint - The merger between Scage International and Finnovate Acquisition Corp. marks a significant milestone in advancing global decarbonization in commercial transportation, with plans for Nasdaq listing and expansion into new markets [1][3]. Group 1: Merger Details - Scage International has completed its business combination with Finnovate Acquisition Corp, with the new company, Scage Future, set to trade on Nasdaq under the ticker "SCAG" starting June 30, 2025 [1]. - The merger has received approval from Finnovate's shareholders and all remaining conditions have been satisfied or waived [1]. Group 2: Company Strategy and Vision - The CEO of Scage International emphasized that the Nasdaq listing will enhance market visibility and broaden financing channels, facilitating the commercialization of next-generation hybrid, electric, and hydrogen fuel cell trucks [3]. - The company plans to expand production capacity, invest in hydrogen infrastructure, and extend its global footprint in regions such as China, Central Asia, Southeast Asia, and the Middle East, while preparing to enter the European and American markets [3]. - Scage International aims to create long-term value for shareholders through a strong order backlog and an expanding portfolio of zero-emission products [3]. Group 3: Company Background - Scage International is a leading provider of zero-emission technology in China, focusing on accelerating the decarbonization of global commercial transportation through advanced heavy-duty new energy vehicle products and innovative clean fuel systems [4]. - The company has extensive experience in the design, production, and testing of the next generation of heavy-duty new energy commercial vehicles, with key products including the Longwang II plug-in hybrid dump truck and the Galaxy II plug-in hybrid truck [4].

Group 1: Company Overview - Skaiqi went public on NASDAQ under the ticker "SCAG" on June 30, with an opening price of $11.69 per share and a market capitalization exceeding $800 million [2] - Founded in 2019, Skaiqi focuses on the development and commercialization of new energy heavy trucks and electric fuel solutions, having completed multiple designs, productions, and tests of new energy trucks for various applications [2][4] - The company is actively developing three new energy models, including an all-electric port tractor, a long-range pure electric tractor, and a high-power hybrid mining truck [5] Group 2: Investment and Financial Backing - Jiuhe Venture Capital invested in Skaiqi at the end of 2020 and increased its stake in 2021, holding approximately 10% before the IPO, which is expected to yield significant returns [2][7] - The investment strategy of Jiuhe Venture Capital focuses on the restructuring of the energy system, targeting key nodes that enhance energy system efficiency [3][7] Group 3: Market Trends and Opportunities - The new energy commercial vehicle sector is anticipated to experience long-term structural growth, driven by favorable policies and a high market ceiling, with the penetration rate of new energy heavy trucks in China expected to exceed 10% by 2024 [5] - The global push for carbon neutrality and the transition to new energy sources are creating substantial opportunities in various sectors, including transportation, construction, and industry [3][5] Group 4: Technological Development - Skaiqi is building barriers through proprietary technologies such as electric control and steering systems, intelligent distributed hybrid power systems, and solid oxide electrolysis cell hydrogen production technology [5] - The company aims to become a comprehensive solution provider for new energy heavy trucks by establishing hydrogen stations, financing leasing platforms, and pursuing global strategic layouts [5]