Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 49

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 49
---
 Chen, Mr. Qiuliang Peng and Mr. Chao Gao serve on our nominating and corporate governance committee. Each of
Mr. Kevin Chen and Mr. Qiuliang Peng is independent. Mr. Chao Gao serves as chairman of the nominating and corporate governance
committee.

The primary purposes of our
nominating and corporate governance committee will be to assist the board in:

  screening and recommending individuals to be                                                                                                 

  identifying individuals qualified to become a                                                       

  reviewing the qualifications of incumbent directors                                                                                     

  identifying members of the board of directors                                                                                               

  reviewing and recommending to the board of directors   

  overseeing the evaluation of the board of directors  

  handling such other matters that are specifically                        

Code of Ethics

We have adopted a new code
of business conduct (the “ Code of Business Conduct”) that applies to all directors, executive officers and employees. Our
Code of Business Conduct is a “code of ethics,” as defined in Item 406(b) of Regulation S-K. Copies of
the Code of Business Conduct and charters for each of our board committees will be provided without charge upon request from us and are
posted on our website. We will make any legally required disclosures regarding amendments to, or waivers of, provisions of our code of
ethics on our Internet website.

Corporate Governance Guidelines

We have adopted the corporate
governance guidelines in accordance with the corporate governance rules of Nasdaq that serve as a flexible framework within which our
board of directors and its committees operate. These guidelines cover a number of areas including board membership criteria and director
qualifications, director independence, director responsibilities, roles of the Chair of the Board and Chief Executive Officer, meetings
of independent directors, committee responsibilities and assignments, board member access to management and independent advisors, director
communications with third parties, director compensation, director orientation and continuing education, evaluation of senior management
and management succession planning. A copy of our corporate governance guidelines has been posted on our website.

D. Employees

As of December 31, 2024, we had 96 employees, all of whom were located
in China. As of the date of this Report, we have not experienced, and do not expect to experience, labor shortages that impact our business.
The following table sets forth the number of our employees by function as of December 31, 2024.

  Function                        Number of      Percentage of  
                                  Employees              Total  
 ───────────────────────────────────────────────────────────────