Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 94

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 6
Chunk 94
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 serve as members of the audit committee. Each of Mr. Kevin Chen of Mr. Qiuliang Peng is “independent” in accordance with applicable law, including the rules of Nasdaq and the more rigorous SEC independence requirements for audit committee members set forth in Rule 10A-3 under the Exchange Act, as determined by the Board after consideration of all factors determined to be relevant rules and regulations of Nasdaq and the SEC. Each member of the audit committee can read and understand fundamental financial statements in accordance with Nasdaq audit committee requirements.
 
Mr. Qiuliang Peng serves as chairman of the audit committee. Each member of the audit committee meets the financial literacy requirements of Nasdaq listing standards, and our board of directors has determined that Mr. Kevin Chen qualifies as an “audit committee financial expert” as defined in applicable SEC rules.
 
The purpose of the audit committee will be to assist our board of directors in overseeing and monitoring:
 

●   the quality and integrity of our financial statements;
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●   internal control over financial reporting and
         disclosure controls and procedures;     
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●   our compliance with legal and regulatory requirements;
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●   our independent registered public accounting
      firm’s qualifications and independence;   
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●   the performance of our internal audit function;
                          and                      
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●   the performance of our independent registered
               public accounting firm.           
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Compensation Committee
 
Upon the effectiveness of the consummation of Business Combination, we have established a compensation committee of the board of directors. Mr. Kevin Chen, Mr. Qiuliang Peng and Mr. Chao Gao serve as members of our compensation committee. Each of Mr. Kevin Chen and Mr. Qiuliang Peng is independent. Mr. Chao Gao serves as chair of the compensation committee.
 
The purpose of the compensation committee is to assist our board of directors in discharging its responsibilities relating to:
 

●        reviewing and approving our compensation program    
    and compensation of our executive officers and directors;
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●   monitoring our incentive and equity-based compensation
                            plans;                        
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●   preparing the compensation committee report under
          the rules and regulations of the SEC;      
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●   reviewing and evaluating on an annual basis the
     performance of the compensation committee; and
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●   recommending such changes as deemed necessary
                   with the Board.               
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The composition and function of compensation committee comply with all applicable requirements of the Sarbanes-Oxley Act, SEC