Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 15

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 3
Chunk 15
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 are baseless or satisfactorily addressed. These allegations, even if unproven or meritless, may
lead to inquiries, investigations, or other legal actions against us by regulatory or government authorities as well as private parties.
Any regulatory inquiries or investigations and lawsuits against us, perceptions of inappropriate business conduct by us, or perceived
wrongdoings by any member of our management team, among other things, could substantially damage our reputation, and cause us to incur
significant costs to defend ourselves. Any negative market perception or publicity regarding our suppliers or other business partners
that we closely cooperate with or may cooperate with, or any regulatory inquiries or investigations and lawsuits initiated against them,
may also have an adverse effect on our brand and reputation, or subject us to regulatory inquiries or investigations or lawsuits. Moreover,
any negative media publicity about NEV trucks and hydrogen energy, especially the product or service quality problems of other players
in the industry in which we operate, including our competitors, may also adversely affect our reputation and brand. In particular, given
the popularity of social media, any negative publicity, whether true or not, could quickly proliferate and harm customer and user perceptions
and confidence in our brand. If we are unable to maintain a good reputation or further enhance our brand recognition, our ability to
attract and retain customers, third-party business partners, and key employees could be harmed and, as a result, our business, results
of operations and financial condition could be materially and adversely affected.

We are and may from time to time be subject
to claims, disputes, lawsuits and other legal and administrative proceedings.

We are, and may in the future
become subject to legal proceedings and claims that arise in the ordinary course of business, including intellectual property, data privacy,
product liability, employment, class action, whistle-blower and other litigation claims, and governmental and other regulatory investigations
and proceedings. Such matters can be time-consuming, divert management’s attention and resources, cause us to incur significant
expenses or liability, or require us to change our business practices. In addition, the expense of litigation and the timing of this
expense from period to period are difficult to estimate, subject to change, and could adversely affect our results of operations and
financial condition.

We are or may be subject to risks associated
with strategic alliances or acquisitions.

We have entered into, and
may in the future enter into additional, strategic alliances, including joint ventures or minority equity investments with various third
parties to further our business purpose. These