Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 188

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 19
Chunk 188
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history of Scage Future (the “ Company”) and its subsidiaries (collectively, “ Scage” or the “ Group”)
began in June 2019, with the establishment of Nanjing Scage Automobile Technology Co., Ltd. (“ Scage Nanjing”). Scage Nanjing
and its subsidiaries primarily engage in the development and commercialization of heavy-duty new energy vehicle trucks (“ NEV”),
and e-fuel solutions in the People’s Republic of China (“ PRC” or “ China”).

  (b)      Reorganization  

In
preparation for listing in a stock market of the United States, Scage Nanjing and its consolidated subsidiaries undertook a reorganization
(“ Reorganization”) through the following steps:

  On                                                                                          
  December 8, 2021, Scage International Limited (“ Scage International”) was incorporated     
  under the laws of the Cayman Islands, as an investment holding company with no operations.  
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  On December 21, 2021, VVS International Limited (“ Scage BVI”), which is 100% owned by Scage International, was incorporated in British Virgin Islands (the “ BVI”), as an investment holding com...  
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  On January 3, 2022, Scage (Hong Kong) Limited (“ Scage HK”), which is 100% owned by Scage International through Scage BVI, was incorporated in Hong Kong, as an investment holding company with n...  
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  On September 22, 2023, Scage HK acquired 100% equity interests of Nanjing Xinneng Hydrogen Automotive Technology Co., Ltd. (“ Scage WFOE”).  
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  On October 24, 2023, Scage WFOE and Scage HK acquired 73.55% and 26.45% equity interest of Scage Nanjing, respectively, and Scage International indirectly controlled Scage Nanjing and its subsi...  
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