CHANGZHOU, China, June 2, 2026 /PRNewswire/ -- STAK Inc. (the "Company" or "STAK") (Nasdaq: STAK), a fast-growing company specializing in the research, development, manufacturing, and sale of oilfield-specialized production and maintenance equipment, today announced the rapid scale-up of its new energy vehicle ("NEV") business, driven by a broadening product lineup and a growing portfolio of patents and software copyrights during the second half of 2025 and the first quarter of 2026.

The Company began exploring NEV-related business opportunities in May 2025 through limited initial deployments and preliminary commercialization activities. During the initial launch phase from May 1, 2025 through June 30, 2025, the Company generated approximately RMB2.8 million (approximately US$0.4 million) in NEV-related revenue, which primarily reflected early-stage market testing and customer onboarding efforts. Beginning in the second half of 2025, customer demand and commercialization activities expanded significantly, and the Company's NEV-related business generated approximately RMB62.6 million (approximately US$9.2 million) in cumulative revenues for the nine months ended March 31, 2026. The substantial increase in revenue contribution over a relatively short commercialization cycle reflects growing market acceptance and the scalability of the Company's NEV business strategy.

Alongside strong revenue growth, the Company continues to expand its NEV product portfolio with the introduction of more specialized vehicles. STAK currently markets four battery-electric models designed primarily for oilfield logistics and broader construction applications. These vehicles feature zero-emission operation, lower total cost of ownership, enhanced safety, and improved user experience, aiming to align with customers' increasing environmental, social, and governance ("ESG") requirements.

The industrial NEV market is experiencing sustained high-growth momentum in China and globally, driven by the gradual replacement of traditional fuel vehicles with electric alternatives. According to QYResearch, a Chinese market research and consulting firm, the global battery-electric engineering vehicle market is expected to maintain a compound annual growth rate ("CAGR") of approximately 46.6% from 2025 to 2031. Within this global expansion, China represents a particularly compelling growth market. As of 2025, the battery-electric engineering vehicle market in China is experiencing rapid uptake, supported by favorable policies and validated by expanding application scenarios, with accelerating penetration in sub-segments.

This trend has been further reinforced by China's national "dual-carbon" goals — peaking carbon emissions by 2030 and achieving carbon neutrality by 2060. New energy engineering machinery has been designated as a priority development category in successive national Five-Year Plans, encouraging enterprises to accelerate electrification technology development, product commercialization, and regional deployment through subsidies and incentive programs. Together, these policies provide a strong and sustained tailwind for the adoption of new energy engineering machinery.

Against this favorable macro backdrop, STAK has formally entered the engineering NEV segment, leveraging its accumulated expertise in oilfield equipment and specialized vehicle technologies. As of today, the Company, through its wholly owned subsidiaries, holds seven invention patents, three utility model patents, and four registered software copyrights related to NEV technologies, including four patents currently under review.

Mr. Chuanbo Jiang, Chairman and Chief Executive Officer of STAK, commented, "The surge in demand for electric heavy-duty vehicles is structural rather than cyclical, particularly in light of global electrification trends and strong policy support in China. Moreover, low baseline penetration across most sub-segments provides early movers with substantial growth runway. We believe our proprietary technologies, together with our unwavering commitment to and investment in innovation, uniquely position STAK to build NEVs into a core growth engine and deliver long-term value to our shareholders."

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 find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "potential," "intend," "plan," "believe," "likely to" or other similar expressions in this prospectus. 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 (the "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

 

Source: STAK Inc. Related Stocks: Nasdaq:STAK