Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 351

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 351
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man Islands in December 2021. It is a holding company of our group with no substantive operation. We carry out our business in China through our PRC subsidiaries. We commenced our business operations of designing, developing and commercializing heavy -dutycommercial NEVs and hydrogen fueling solutions in 2019 through Nanjing Scage. We have undergone a series of corporate restructuring in contemplation of the Business Combination, in particular the following. • Incorporation of the holding entity.In December 2021, we established Scage International as a holding company in the Cayman Islands. • Incorporation of the Scage BVI.In December 2021, Scage International established a wholly -ownedsubsidiary, VVS International Limited (“Scage BVI”), to be our intermediate holding company in the British Virgin Islands. • Incorporation of the Hong Kong subsidiary.In January 2022, Scage BVI established a wholly -ownedsubsidiary, Scage (Hong Kong) Limited (“Scage HK”), to be our intermediate holding company in Hong Kong. • Establishment of WFOE.In September 2023, Scage HK acquired all the equity interest in Nanjing Xinneng Hydrogen Automotive Technology Co., Ltd. (“WFOE”), which became a wholly -ownedsubsidiary of Scage HK. • Incorporation of the United States subsidiary.In February 2024, Scage HK established a wholly -ownedsubsidiary, Scage U.S. Corporation (“Scage US”), to be our intermediate holding company in the United States. In August 2023, Scage International issued shares to several then shareholders of Nanjing Scage (or their designees) to reflect their respective equity interests in Nanjing Scage prior to the restructuring. In October 2023, Scage HK and WFOE acquired 26.45% and 73.55% of the equity interest in Nanjing Scage, respectively. 163 The following diagram illustrates our simplified corporate structure as of the date of this proxy statement/prospectus. 164

Our major subsidiaries The following subsidiaries are of strategic importance to us.

| Name of subsidiary                                        
 Nanjing Scage Auto Technology Co., Ltd.                   
 Nanjing Scage Intelligent Technology Co., Ltd.            |     | Date of                   
 incorporation/acquisition 
 June 3, 2019              
 May 17, 2021              |     | Percentage   
 of direct or 
 indirect     
 economic     
 interest     
 100%         
 100%         |     |