Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 62

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 62
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 Our general and administrative expenses decreased by 40.4%, from approximately US$1.36 million for the year ended March 31, 2024 to approximately US$0.81 million for the year ended March 31, 2025, primarily due to: (i) a decrease in payroll expenses from approximately US$0.55 million for the year ended March 31, 2024 to approximately US$0.41 million for the year ended March 31, 2025 due to a reduction in director’s salary, (ii) a decrease in expected credit loss of approximately US$0.34 million due to the improved recovery of receivables, (iii) a slight decrease in service charge, rental expenses, professional service expenses and travel expenses totaling approximately US$0.06 million, partially offset by the increase in depreciation and amortization expenses of approximately US$0.03 million. 44 Gain from disposal of property, plant and equipment Our gain from disposal of property, plant and equipment decreased from approximately US$0.43 million for the year ended March 31, 2024 to approximately US$0.17 million for the year ended March 31, 2025. Other income, net Our other income, net increased from approximately US$0.22 million for the year ended March 31, 2024 to approximately US$0.65 million for the year ended March 31, 2025. Financial expenses, net Our financial expenses, net slightly decreased from approximately US$0.13 million for the year ended March 31, 2024 to approximately US$0.12 million for the year ended March 31, 2025, primarily attributable to the depreciation of Japanese Yen (“JPY”) against U.S. dollars (“USD”) in foreign currency translation, which resulted in lower foreign currency translation losses, partially offset by the increase in interest expenses from approximately US$0.06 million for the year ended March 31, 2024 to approximately US$0.07 million for the year ended March 31, 2025. Investment income, net Our investment income, net increased from approximately US$0.14 million for the year ended March 31, 2024 to approximately US$0.32 million for the year ended March 31, 2025, primarily due to fair value changes and realized gains (losses) on short -terminvestments. Income tax (expense) benefit Income tax (expense) benefit increased from income tax