Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 568

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 568
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.50%    | —           | Mr. Chao Gao                                             | —                                                          |    200,000 |

F-31

SCAGE INTERNATIONAL LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 9. SHORT-TERM BORROWINGS (cont.) The short -termbank loans as of June 30, 2024 were primarily obtained from financial institutions with interest rates ranging from 3.05% to 3.75% per annum. The loans as of June 30, 2023 were primarily obtained from three financial institutions with interest rates ranging from 4.00% to 16.20% per annum. Interest expense was US$222,628 and US$91,890 for the years ended June 30, 2024 and 2023, respectively. The weighted average interest rates of short -termloans outstanding were 3.60% and 6.67% per annum as of June 30, 2024 and 2023, respectively. 10.LEASING The Group has entered into various non -cancellableoperating lease agreements for certain offices, factories and warehouses which are substantially located in PRC. The Group determines if an arrangement is a lease, or contains a lease, at inception and record the leases in the consolidated financial statements upon lease commencement, which is the date when the lessor makes the underlying asset available for use by the lessee. The balances for the operating leases are presented as follows within the consolidated balance sheets:

|                                   |     | As of June 30, |    2024 |     |   |    2023 |
|:----------------------------------|:----|:---------------|--------:|:----|:--|--------:|
| Right-of-use assets               |     | $              | 283,607 |     | $ | 494,011 |
| Lease liabilities – current       |     |                | 167,592 |     |   | 200,595 |
| Lease liabilities – non-current   |     |                |  86,758 |     |   | 254,908 |
| Total operating lease liabilities |     | $              | 254,350 |     | $ | 455,503 |

The operating lease expense is recognized as cost of sales, selling, general and administrative expenses and research and development expenses.

|                                                             |     | For the years ended 
 June 30,            |    2024 |     |   |