Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 38

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 3
Chunk 38
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 the majority of our senior executive officers
reside within China for a significant portion of the time, the majority of whom are PRC nationals. As a result, it may be difficult for
you to effect service of process upon us or those persons inside China. It may also be difficult for you to enforce in U. S. courts
judgments obtained in U. S. courts based on the civil liability provisions of the U. S. federal securities laws against us and
our officers and directors residing in China. In addition, judgments rendered by the U. S. courts pursuant to the civil liability
provisions of the securities laws of United States against us or such persons may not be recognized or enforceable in the courts
of the Cayman Islands or the PRC.

The recognition and enforcement
of foreign judgments are provided for under the PRC Civil Procedures Law. PRC courts may recognize and enforce foreign judgments in accordance
with the requirements of the PRC Civil Procedures Law based either on treaties between China and the country or region where the judgment
is made or on principles of reciprocity between jurisdictions. China does not have any treaties or other forms of written arrangement
with the United States that provide for the reciprocal recognition and enforcement of foreign judgments. In addition, according
to the PRC Civil Procedures Law, the PRC courts will not enforce a foreign judgment against us or our directors and officers if the judgment
violates the basic principles of PRC laws or national sovereignty, security, or the public interest.

It may be difficult for overseas regulators
to conduct investigation or collect evidence within China.

Cross-border supervision
and administration is generally difficult to pursue in many jurisdictions, including the PRC. According to Article 177 of the
PRC Securities Law (the “ Article 177”), which became effective in March 2020, no overseas securities regulator
is allowed to directly conduct investigation or evidence collection activities within the territory of the PRC. In addition, without
PRC government approval, no entity or individual may provide documents and information relating to securities business activities to
overseas organizations and/or persons. The inability for an overseas securities regulator to directly conduct investigation or evidence
collection activities within China may further increase difficulties faced by you in protecting your interests. According to the Archives
Rules, Where an overseas securities regulator and a competent overseas authority requests to inspect, investigate or collect evidence
from a domestic company concerning its overseas offering and listing, such inspection, investigation and evidence collection shall be
conducted under a cross