Scage Future Announces One-for-Fifteen Reverse ADS Split

Scage Future, a Chinese provider of zero-emission heavy-duty commercial vehicles and e-fuel solutions, announced a plan to adjust its American Depositary Shares (ADS) ratio. Effective on or about October 30, 2026, the ratio will shift from one ADS per one ordinary share to one ADS per fifteen ordinary shares.

This adjustment functions as a one-for-fifteen reverse ADS split. Holders will automatically receive one new ADS for every fifteen existing shares they hold. Citibank, N.A., serving as the depositary bank, will manage the process by cancelling existing ADSs and issuing the new shares. Any fractional entitlements will be aggregated and sold by Citibank, with the resulting net cash proceeds distributed to the holders.

The company expects the ADS trading price to increase proportionally following the change, though it stated there is no guarantee the post-change price will be exactly fifteen times the previous price. The ADSs will continue to trade on the Nasdaq Capital Market under the symbol SCAG, although the CUSIP number will change.