Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 561

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 561
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 equivalent shares are not included in the denominator of the diluted loss per share calculation when inclusion of such share would be anti -dilutive. (v)Segment reporting ASC 280, “Segment Reporting”, establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for internal reporting. As the Group’s long -livedassets are substantially located in the PRC, no segment geographical information is presented. (w)Fair value measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three -levelfair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of the fair value hierarchy are described below: •Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. •Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. •Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value. F-25 SCAGE INTERNATIONAL LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Financial instruments of the Group primarily consist of cash, restricted cash, accounts receivable, amounts due from related parties, other receivables included in prepaid expenses and other current assets, short -termand long -termborrowings, accounts payable, amounts due to related parties, other payables included in accrued expenses and other payables. As of June 30, 2024 and 2023, the carrying amounts of these financial instruments approximated to their fair values due to the short -termmaturity of these instruments. The Group’s non -financialassets, such as property and equipment, would be measured at fair value