Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 21

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 21
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 for the HNTE certificate when the
prior certificate expires. Nanjing Scage Automobile Technology Co., Ltd. obtained its HNTE status in 2021 and enjoyed the preferential
tax rate for the period of three years through December 2023. In November 2024, Nanjing Scage Automobile Technology Co., Ltd. renewed
the HNTE, which allows it to enjoy a preferential tax rate of 15% for the period of three years through December 2026.

According to Caishui [2019]
No.13, [2021] No.12, announcement of the Ministry of Finance and the State Taxation Administration, and [2023] No.12, announcement of
the Ministry of Finance and the State Taxation Administration, small, low profit enterprises shall meet three conditions for enjoying
preferential tax conditions, including (i) annual taxable income of no more than RMB3 million (US$410,998), (ii) no more than 300 employees,
and (iii) total assets of no more than RMB50 million (US$6,849,972).

According to [2021] No.8,
announcement of the State Taxation Administration, which became effective on January 1, 2021 and until to December 31, 2022, small, low
profit enterprises whose annual taxable income is no more than RMB1 million (US$136,999) is subject to the preferential income tax rate
of 2.5% (only 12.5% of such taxable income shall be subject to enterprises income tax at a tax rate of 20%).

According to [2022] No.13,
announcement of the Ministry of Finance and the State Taxation Administration, which became effective on January 1, 2022 and until to
December 31, 2024, small, low profit enterprises whose annual taxable income exceed RMB1 million (US$136,999) but no more than RMB3 million
(US$410,998) are subject to the preferential income tax rate of 5% (only 25% of such taxable income shall be subject to enterprises income
tax at a tax rate of 20%).

According to [2023] No.06,
announcement of the Ministry of Finance and the State Taxation Administration, which became effective on January 1, 2023 and until to
December 31, 2024, small, low profit enterprises whose annual