Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 20

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 20
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 significant uncertainty about the future relationship between the United States and China with respect to trade policies, treaties, government regulations and tariffs. Any severe or prolonged slowdown in the Japanese, East Asia, Southeast Asia or global economy may materially and adversely affect our business, financial condition and results of operations. 11 In addition, many of the factors identified above also affect commodity rates, transportation costs, interest rates, costs of labor, insurance and healthcare, lease costs, measures that create barriers to or increase the costs associated with international trade, changes in other laws and regulations and other economic factors, all of which may impact our cost of sales, our selling and logistics expenses, and general and administrative expenses, which could have a material adverse effect on our business, financial condition and results of operations. We are exposed to risks related to concentration of suppliers as we rely on one major supplier, and such concentration may have a material adverse effect on our business, financial condition and results of operations. In each of the fiscal years ended March 31, 2025 and 2024, one of our suppliers constituted more than 10% of our aggregate purchases, representing 35.67% and 36.58% of our aggregate purchases in the fiscal years ended March 31, 2025 and 2024, respectively. In addition, for the fiscal years ended March 31, 2025 and 2024, purchases from our top five suppliers accounted for 61.70% and 60.13% of our total purchases, respectively. Due to the concentration of our purchases from our major supplier, any interruption of the operations of our major supplier, any failure of our major supplier to accommodate our growing business scale, any change in cooperation terms, or the deterioration of cooperative relationships with our major supplier may materially and adversely affect our business, financial condition and results of operations. We cannot assure you that we would be able to find replacement suppliers on commercially reasonable terms on a timely basis or at all. See “Business — Our Suppliers” for the material terms of the master supply agreement we entered into with our major supplier. A significant portion of our total revenue was derived from one major customer. A high concentration of our revenue from the major customer means that loss of business from it may have a significant negative impact on our business and financial performance. For the fiscal years ended March 31, 2025 and 2024, our major customer accounted for 33.95% and 35.80% of our total revenues, respectively. We cannot assure you that