Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 587

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 587
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ingtang is contingent upon the receipt of full Subscription Amount of Taimingtang by wire transfer in immediately available funds to the account designated by the Company in the closing notice. The Subscription Agreement of Taimingtang was terminated on September30, 2024. 22.CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Regulation S -Xrequires the condensed financial information of a registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated -subsidiariesshall mean the amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party. The condensed parent company financial statements have been prepared in accordance with Rule 12 -04. Schedule of Regulation S -Xas the restricted net assets of the Company’s PRC subsidiary exceed 25% of the consolidated net assets of the Company. The Company performed a test on the restricted net assets of consolidated subsidiary in accordance with U.S. Securities and Exchange Commission Regulation S -XRule 4 -08(e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The condensed financial information of the parent company, Scage, has been prepared using the same accounting policies as set out in Company’s Consolidated Financial Statements except that the parent company has used the equity method to account for its investment in its subsidiaries. The Company’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries. The Company’s share of income and losses from its subsidiaries is reported as incomes from subsidiaries in the accompanying condensed financial information of parent company. The Company is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands. The Company is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands. F-48

SCAGE INTERNATIONAL LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 22.CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (cont.) Condensed balance sheets

| Assets                                                                                                                                                                              
 Current assets                                                                                                                                                                      |     | As of June 30,