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6-K 1 form6-k.htm 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2026

 

Commission File Number: 001-42535

 

STAK INC.

(Registrant’s Name)

 

Building 11, 8th Floor, No. 6 Beitanghe East Road, Tianning District

Changzhou, Jiangsu,

People’s Republic of China 213000

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   STAK Inc. Announces Unaudited Financial Results for the First Half of 2026

 

2

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: May 13, 2026

 

  STAK INC.
     
  By: /s/ Chuanbo Jiang
  Name: Chuanbo Jiang
  Title: Chief Executive Officer

 

3

 

EX-99.1 2 ex99-1.htm EX-99.1

 

Exhibit 99.1

 

STAK Inc. ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST HALF OF 2026

 

First Half of Fiscal Year 2026 Financial Summary

 

Revenues were $19.2 million for the first half of fiscal year 2026, an increase of 13.41% from $17.0 million for the first half of fiscal year 2025.
   
Gross profit remained steady at $5.2 million for the first half of fiscal year 2025 and 2026.
   
Gross profit margin was 27.24% for the first half of fiscal year 2026, compared to 30.65% for the first half of fiscal year 2025.
   
Net income was $1.8 million for the first half of fiscal year 2026, compared to $2.0 million for the first half of fiscal year 2025.
   
Basic and diluted earnings per share were $0.14 for the first half of fiscal year 2026, compared to $0.20 for the first half of fiscal year 2025.

 

First Half 2026 Financial Results

 

Revenues

 

Our revenues for the six months ended December 31, 2025 and 2024 were $19.2 million and $17.0 million, respectively. The 13.41 % increase in revenues was mainly driven by the increase in order volumes and increase in sale prices of specialized oilfield vehicles. This increase was partially offset by the decrease in demand for sales of specialized oilfield equipment.

 

Cost of revenues

 

Cost of revenues consists primarily of manufacturing and purchase cost of raw materials, depreciation, maintenance, and other overhead expenses. Our cost of revenues increased by $2.2 million, or 18.99%, to $14.0 million for the six months ended December 31, 2025 from $11.8 million for the six months ended December 31, 2024. The increase in cost was mainly attributable to increase in sales volume for specialized oilfield vehicles.

 

Gross profit

 

Gross profit remained steady at $5.2 million for the six months ended December 31, 2025 and 2024. Gross profit margin decreased from 30.65% for the six months ended December 31, 2024 to 27.24% for the six months ended December 31, 2025. The decrease in gross profit margin was primarily driven by increase in production cost of newly developed vehicles and our promotional sales policy to expand the market. The gross profit remained steady mainly due to the decrease in unit profit margin was offset by an increase in sales volume.

 

Selling and marketing expenses

 

Our selling and marketing expenses consist primarily of commission.

 

Our selling and marketing expenses slightly decreased by $0.1 million, or 13.76% , to $0.5 million for the six months ended December 31, 2025 from $0.6 million for the six months ended December 31, 2024. The observed revenue expansion reflects our management team’s direct business development efforts rather than commission-based sales channels, thereby maintaining stable commission expenditure.

 

General and administrative expenses

 

Our general and administrative expenses consist primarily of professional fees, salaries and welfare expenses, provision for credit losses, and others, which primarily includes depreciation and amortization expenses and rental expenses.

 

Our general and administrative expenses increased by $0.2 million, or 27.27%, to $1.0 million for the six months ended December 31, 2025 from $0.8 million for the six months ended December 31, 2024, which attributed to the increase in professional fees of $0.7 million and was offset by an decrease of provision for credit losses $0.5 million.

 

 

 

Research and development expenses

 

Our research and development expenses consist primarily of (i) parts and materials in relation to testing materials; and (ii) design and development expenses, with new technology, materials and suppliers and other research and development related expenses for designing and testing.

 

Research and development expenses slightly increased by $0.1 million, or 2.69%, to $1.6 million for the six months ended December 31, 2025 from $1.5 million for the six months ended December 31, 2024. The increase in research and development expenses is mainly driven by the stage and scale of our equipment development.

 

Income tax expense

 

The People’s Republic of China enterprise income tax (the “EIT”) is calculated based on the taxable income determined under the applicable EIT Law and its implementation rules. Our income tax expense remained steady at $0.2 million for the six months ended December 31, 2025 and 2024.

 

Net income

 

As a result of the foregoing, we recorded net income of $1.8 million and $2.0 million for the six months ended December 31, 2025 and 2024, respectively.

 

About STAK Inc.

 

STAK Inc. is a fast-growing company specializing in the research, development, manufacturing, and sale of oilfield-specific production and maintenance equipment. The Company designs and manufactures oilfield-specialized production and maintenance equipment, then collaborates with qualified specialized vehicle manufacturing companies to integrate the equipment onto vehicle chassis, producing specialized oilfield vehicles for sale. Additionally, the Company sells oilfield-specialized equipment components, related products, and provides automation solutions. Its vision is to help oilfield services companies reduce costs and increase efficiency by providing the cutting-edge integrated oilfield equipment and automation solutions service. Its mission is to become a powerful provider for the niche markets of specialized oilfield vehicles and equipment in China. For more information, please visit the Company’s website at https://www.stakindustry.com/ir/.

 

Forward-Looking Statements

 

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

 

For more information, please contact:

 

STAK Inc.

 

Investor Relations Department

Email: ir@stakindustry.com

 

Ascent Investor Relations LLC

 

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com

 

 

 

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

 

    Page
CONSOLIDATED FINANCIAL STATEMENTS    
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2025 AND JUNE 30, 2025   F-2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024   F-3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024   F-4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024   F-5

 

F-1

 

STAK INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. dollars, except for the number of shares)

 

    As of  
    December 31, 2025     June 30, 2025  
Assets                
Current assets:                
Cash and cash equivalents   $ 1,923,399     $ 1,022,625  
Accounts receivable, net     2,980,649       1,988,785  
Inventories     18,313,220       17,018,217  
Advances to suppliers     771,306       562,473  
Amounts due from a related party     -       87,472  
Prepayments and other current assets, net     1,869,325       2,783,842  
Total current assets     25,857,899       23,463,414  
                 
Non-current assets:                
Property and equipment, net     274,938       293,023  
Intangible assets, net     2,003,067       2,022,918  
Right-of-use assets, net     47,843       74,562  
Deferred tax assets     790,723       785,700  
Other assets     369,816       114,888  
Total non-current assets     3,486,387       3,291,091  
                 
Total assets   $ 29,344,286     $ 26,754,505  
                 
Liabilities and shareholder’s equity                
                 
Liabilities                
Current liabilities:                
Accounts payable   $ 2,465,645     $ 3,722,525  
Deferred revenues     744,094       1,164,334  
Amounts due to related parties     70,695       30,222  
Accrued expenses and other current liabilities     1,140,148       1,116,014  
Short-term borrowings     7,568,889       5,636,831  
Operating lease liabilities, current     -       73,530  
Income tax payable     1,967,290       1,692,519  
Total current liabilities     13,956,761       13,435,975  
                 
Non-Current liabilities:                
Long-term borrowing     428,994       418,784  
Total non-current liabilities     428,994       418,784  
                 
Total liabilities   $ 14,385,755     $ 13,854,759  
                 
Commitments and contingencies                
                 
Shareholder’s equity                
Class A ordinary shares (par value of $0.001 per share; 75,000,000 shares authorized; 4,010,349 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)     4,010       4,010  
Class B ordinary shares (par value of $0.001 per share; 25,000,000 shares authorized; 9,200,000 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)     9,200       9,200  
Additional paid in capital     12,157,104       12,157,104  
Statutory reserve     672,402       672,402  
Retained earnings     2,141,804       324,893  
Accumulated other comprehensive loss     (25,989 )     (267,863 )
Total shareholders’ equity     14,958,531       12,899,746  
                 
Total liabilities and shareholder’s equity   $ 29,344,286     $ 26,754,505  

 

F-2

 

STAK INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Expressed in U.S. dollars, except for number of shares)

 

    For the Six Months Ended December 31,  
    2025     2024  
             
Revenues   $ 19,230,376     $ 16,955,913  
Cost of revenues     (13,992,367 )     (11,759,741 )
Gross profit     5,238,009       5,196,172  
                 
Operating expenses:                
Selling and marketing expenses     (516,973 )     (599,471 )
General and administrative expenses     (1,026,832 )     (806,833 )
Research and development expenses     (1,584,450 )     (1,542,926 )
Total operating expenses     (3,128,255 )     (2,949,230 )
                 
Operating income     2,109,754       2,246,942  
                 
Other (expense) income:                
Interest expense, net     (105,896 )     (89,907 )
Other income, net     56,034       -  
Government subsidies     -       17,006  
Total other expense, net     (49,862 )     (72,901 )
                 
Income before income tax expense     2,059,892       2,174,041  
Income tax expense     (242,981 )     (174,678 )
Net income     1,816,911       1,999,363  
                 
Net income per ordinary share:                
Earnings per share, basic and diluted   $ 0.14     $ 0.20  
                 
Weighted average number of shares outstanding, basic and diluted*     13,210,349       10,000,000  
                 
Net income   $ 1,816,911     $ 1,999,363  
Foreign currency translation adjustments     241,874       (83,516 )
Total comprehensive income   $ 2,058,785     $ 1,915,847  

 

* On June 13, 2025, the Company’s authorized share capital was increased (the “Increase of Authorized Share Capital”), and re-designated from US$50,000 divided into 50,000,000 ordinary shares of par value US$0.001 each to US$100,000 divided into 100,000,000 ordinary shares of per value US$0.001. All share and per share amounts presented in the accompanying consolidated financial statements have been retrospectively adjusted for all periods presented, unless otherwise indicated.

 

F-3

 

STAK INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Expressed in U.S. dollars, except for number of shares)

 

    Ordinary shares*     Additional paid-in     Statutory     Retained     Accumulated other comprehensive     Total shareholders’  
    Shares     Amount     capital     reserves     earnings     loss     equity  
Balance as of July 1, 2024     10,000,000     $ 10,000     $ 4,249,517     $ 672,402     $ 6,037,573     $ (388,543 )   $ 10,580,949  
Net income     -       -       -       -       1,999,363       -       1,999,363  
Appropriation to statutory reserve     -       -       -       205,419       (205,419 )     -       -  
Foreign currency translation adjustments     -       -       -       -       -       (83,516 )     (83,516 )
Balance as of December 31, 2024 (unaudited)     10,000,000     $ 10,000     $ 4,249,517     $ 877,821     $ 7,831,517     $ (472,059 )   $ 12,496,796  

 

* On June 13, 2025, the Company’s authorized share capital was increased (the “Increase of Authorized Share Capital”), and re-designated from US$50,000 divided into 50,000,000 ordinary shares of par value US$0.001 each to US$100,000 divided into 100,000,000 ordinary shares of per value US$0.001. All share and per share amounts presented in the accompanying consolidated financial statements have been retrospectively adjusted for all periods presented, unless otherwise indicated.

 

    Class A ordinary shares     Class B ordinary shares     Additional paid-in     Statutory     Retained     Accumulated other comprehensive     Total shareholders’  
    Shares     Amount     Shares     Amount     capital     reserves     earnings     loss     equity  
Balance as of July 1, 2025     4,010,349     $ 4,010       9,200,000     $ 9,200     $ 12,157,104     $ 672,402     $ 324,893     $ (267,863 )   $ 12,899,746  
Net income     -       -       -       -       -       -       1,816,911       -       1,816,911  
Foreign currency translation adjustments     -       -       -       -       -       -       -       241,874       241,874  
Balance as of December 31, 2025 (unaudited)     4,010,349     $ 4,010       9,200,000     $ 9,200     $ 12,157,104     $ 672,402     $ 2,141,804     $ (25,989 )   $ 14,958,531  

 

F-4

 

STAK INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. dollars)

 

    For the Six Months Ended December 31,  
    2025     2024  
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net income   $ 1,816,911     $ 1,999,363  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                
Provision for credit losses     23,608       524,509  
Depreciation of property and equipment     24,765       166,058  
Amortization of intangible assets     67,900       2,538  
Amortization of operating lease right-of-use asset     28,012       9,624  
Deferred income tax     13,785       (125,305 )
Changes in operating assets and liabilities:                
Accounts receivable     (976,367 )     (5,791,039 )
Advance to suppliers     (192,276 )     1,355,963  
Inventories     (863,885 )     (5,231,547 )
Amounts due from/due to related parties     130,432       66,712  
Prepaid expenses and other current assets     936,875       73,201  
Other assets     (253,510 )     35,512  
Accounts payable     221,333       6,037,020  
Deferred revenues     (440,372 )     -  
Income tax payable     229,196       299,996  
Accrued expenses and other current liabilities     (25,152 )     (421,174 )
Operating lease liabilities     (73,936 )     -  
Net cash provided by (used in) operating activities   $ 667,319     $ (998,569 )
                 
CASH FLOWS FROM INVESTING ACTIVITIES:                
Purchases of property and equipment     -       (3,082 )
Proceeds received from disposal of property and equipment     506,471       -  
Loans to third parties     (640,072 )     (209,010 )
Collection of loans to third parties     167,036       350,022  
Net cash provided by investing activities   $ 33,435     $ 137,930  
                 
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from short-term bank loans     2,196,738       2,424,513  
Repayments of short-term bank loans     (1,979,310 )     (1,741,748 )
Repayments of long-term bank loans     -       (118,439 )
Net cash provided by financing activities   $ 217,428     $ 564,326  
                 
Effect of exchange rate changes on cash and cash equivalents     (17,408 )     (1,319 )
                 
Net increase (decrease) in cash and cash equivalents     900,774       (297,632 )
Cash and cash equivalents, at beginning of the period     1,022,625       658,154  
Cash and cash equivalents, at the end of the period   $ 1,923,399     $ 360,522  
                 
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                
Interest paid     106,103       90,523  
Income taxes paid     -       -  
                 
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:                
Addition of right-of-use assets     -       105,760  
Reclassification of accounts payables into supplier finance obligations     1,544,173       -  

 

F-5