Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 55

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 3
Chunk 55
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 EBC or their permitted transferees.

We are a foreign private issuer, and as
a result, we are not subject to U. S. proxy rules and will be subject to Exchange Act reporting obligations that, to some
extent, are more lenient and less frequent than those of a U. S. domestic public company.

We report under the Exchange Act
as a non-U. S. company with foreign private issuer status. Because we qualifies as a foreign private issuer under the Exchange Act,
we are exempt from certain provisions of the Exchange Act that are applicable to U. S. domestic public companies, including,
among others, (1) the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect
of a security registered under the Exchange Act, (2) the sections of the Exchange Act requiring insiders to file public
reports of their share ownership and trading activities and liability for insiders who profit from trades made in a short period of time,
and (3) the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing
unaudited financial and other specified information. In addition, foreign private issuers are not required to file their annual report
on Form 20-F until 120 days after the end of each fiscal year, while U. S. domestic issuers that are accelerated filers
are required to file their annual report on Form 10-K within 75 days after the end of each fiscal year, and U. S. domestic
issuers that are large accelerated filers are required to file their annual report on Form 10-K within 60 days after the end
of each fiscal year. As a result of all of the above, you may not have the same protections afforded to shareholders of a company that
is not a foreign private issuer.

You may face difficulties in protecting
your interests, and your ability to protect your rights through U. S. courts may be limited.

We conduct a majority of
its operations through our subsidiaries in China. Substantially all of our assets are located outside of the United States. A majority
of our officers and directors reside outside the United States and a substantial portion of the assets of those persons are located
outside of the United States. As a result, it could be difficult or impossible for you to bring an action against us or against
these individuals outside of the United States in the event that you believe that your rights have been infringed upon under the
app