Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 56

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 3
Chunk 56
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licable securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands
and of the PRC could render you unable to enforce a judgment against the relevant assets or the assets of the relevant directors and
officers.

In addition, our corporate
affairs will be governed by the A& R MAA, the Cayman Companies Act and the common law of the Cayman Islands. The rights of investors
to take action against the directors, actions by minority shareholders and the fiduciary duties of our directors to our Company under
Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived
in part from comparatively limited judicial precedent in the Cayman Islands as well as from the common law of England, the decisions
of whose courts are of persuasive authority, but are not binding, on a court in the Cayman Islands. The rights of our shareholders and
the fiduciary duties of our directors under the Cayman Islands law may not be as clearly established as they would be under statutes
or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities
laws than the United States. Some U. S. states, such as Delaware, may have more fully developed and judicially interpreted bodies
of corporate law than the Cayman Islands. In addition, Cayman Islands companies may not have standing to initiate a shareholder derivative
action in a federal court of the United States.

Shareholders of Cayman Islands
exempted companies like us have no general rights under Cayman Islands law to inspect corporate records or to obtain copies of lists
of shareholders of these companies (save for the memorandum and articles of association, the register of mortgages and charges, and special
resolutions of our shareholders). our directors have discretion under the A& R MAA to determine whether or not, and under what conditions,
our corporate records may be inspected by its shareholders, but we are not obliged to make them available to the shareholders. This may
make it more difficult for you to obtain the information needed to establish any facts necessary for a shareholder’s motion or
to solicit proxies from other shareholders in connection with a proxy contest.

Certain corporate governance
practices in the Cayman Islands, which is our home country, differ significantly from requirements for companies incorporated in other
jurisdictions such as the United States. To the extent we choose