Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 353

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 353
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 which was promulgated on October 26, 2022 and took effect on January 1, 2023. Industries not listed in the 2021 Negative List and Encouraged Industry Catalogue are generally open for foreign investments unless specifically restricted by other PRC laws. Where a foreign investor invests in the sectors specified in the Catalog of Prohibitions, the relevant competent departments shall order it to stop the investment activities, and dispose of the shares, properties or other necessary measures within a time limit to restore the state before the investment is implemented and the illegal income shall be confiscated (if any). Where the investment activities of a foreign investor violate the restrictive special management measures stipulated in the sectors specified in the Catalog of Restrictions, the relevant competent departments shall order it to make corrections and take necessary measures to meet the requirements for access to special management measures. Where the offender refuses to make corrections, punishments are implemented according to the preceding provisions for the offender of the Catalog of Prohibitions. Pursuant to the Foreign Investment Law and the Implementing Rules, as well as the Information Reporting Measures for Foreign Investment which was jointly promulgated by MOFCOM and the SAMR and took effect on January 1, 2020, a foreign investment information reporting system shall be established, and foreign investors 166 or foreign -investedenterprises shall report investment information to competent commerce departments of the government through the enterprise registration system and the enterprise credit information publicity system, and the administration for market regulation shall forward the above investment information to the competent commerce departments in a timely manner. In addition, MOFCOM shall set up a foreign investment information reporting system to receive and handle the investment information and inter -departmentallyshared information forwarded by the administration for market regulation in a timely manner. The foreign investors or foreign -investedenterprises shall report the investment information by submitting reports including initial reports, change reports, deregistration reports and annual reports. In addition, the Foreign Investment Law and the Implementing Rules specify other protective rules and principles for foreign investors and their investments in the PRC. For example, local governments shall abide by their commitments to the foreign investors; except for special circumstances, in which case statutory procedures shall be followed and fair and reasonable compensation shall be made in a timely manner, expropriation or requisition of the investment of foreign investors is prohibited; and mandatory technology transfer is prohibited. Regulations Relating to Foreign Currency Exchange Pursuant to the Foreign Exchange Administration Regulations, as amended on August 5, 2008, Renmin