Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 201

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 201
---
aid within one year of disbursement. In addition, Mr. Shihai Bi provided personal guarantees for bank borrowings of US$3,440,354 and US$4,062,684 as of March 31, 2025 and 2024, respectively (See Note 9). Related party transactions

| Mr. Shihai Bi                                 |     | For the years ended 
 March 31,           
 2025                |          |   |     | 2024 |          |   |
|:----------------------------------------------|:----|:--------------------|---------:|:--|:----|:-----|---------:|:--|
| Loan from a related party (i)                 |     | $                   |  131,231 |   |     | $    |  449,813 |   |
| Repayment of loan provided by a related party |     |                     | (328,078 | ) |     |      | (207,599 | ) |
| Mr. Guanglang Jiang                           |     |                     |          |   |     |      |          |   |
| Other payables (ii)                           |     |                     |   72,326 |   |     |      |        — |   |
| Total                                         |     | $                   | (124,521 | ) |     | $    |  242,214 |   |

(i).Loan from a related party During the fiscal years ended March31, 2025 and 2024, Mr.Shihai Bi provided the Group with unsecured, non -interestbearing, and demandable loans in the amounts of $131,231 and $449,813, respectively. The Group repaid $328,078 and $207,599 of such loans during the same respective periods. (ii).Other payables by a related party During the year ended March31, 2025, Mr.Guanglang Jiang, paid certain expenses on behalf of the Group primarily related to the Company’s establishment and general operating activities. These payments were unsecured, non -interestbearing, and repayable on demand. Loan guaranteed by a related party As of March31, 2025 and 2024, the Group’s bank borrowings of US$3,440,354 and US$4,062,684 were guaranteed by Mr.Shihai Bi (see Note 9).

F-27 SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL