Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 212

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 19
Chunk 212
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 allows an EGC to delay adoption of certain accounting standards until those standards would otherwise apply to private companies.
The Group elected to take advantage of the extended transition periods. However, this election will not apply should the Group cease
to be classified as an EGC.

Recently
issued accounting pronouncements adopted

In
March 2023, the FASB issued ASU No. 2023-01, “ Leases (Topic 842): Common Control Arrangements”, which amends certain provisions
of ASC 842 that apply to arrangements between related parties under common control. In addition, the ASU amends the accounting for leasehold
improvements in common-control arrangements for all entities. ASU 2023-01 is effective for fiscal years beginning after December 15,
2023, including interim periods within those fiscal years. Early adoption is permitted in any annual or interim period as of the beginning
of the related fiscal year. The Group has adopted ASU 2023-01 from July 1, 2024. The Group evaluates that the impact of adoption of this
ASU is immaterial to consolidated financial statements.

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve
reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is
effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024.
Early adoption is permitted. The Group has adopted ASU 2023-07 from July 1, 2024. The Group evaluates that the impact of adoption of
this ASU and has amended disclosure to segment reporting for single reportable segment in the consolidated financial statements.

Recently
issued accounting pronouncements issued but not yet adopted

In
December 2023, the FASB issued ASU 2023-09, Improvement to Income Tax Disclosure. The ASU requires disaggregated information
about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. ASU 2023-09
is effective for public business entities, for annual periods beginning after December 15, 2024. For entities other than public
business entities, the amendments are effective for annual periods beginning after December 15, 2025. This ASU will result in the
additional disclosures required