Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 119

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 119
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5, the Company approved a dual -classshare structure. Following such an approval, the Company re -designatedand re -classifiedthe 1,500 ordinary shares held by WISDOM FOCUS GROUP LTD. into 1,500 Class B Ordinary Shares and the 5,740 ordinary shares held by WISDOM FOCUS GROUP LTD. and the 2,760 ordinary shares held by other shareholders into 8,500 Class A Ordinary Shares, respectively. It is proposed that the Company amend its memorandum and articles of association to allow for an unlimited number of Class A Ordinary Shares and Class B Ordinary Shares, of US$1.00 par value each to be issued.

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RELATED PARTY TRANSACTIONS Transactions with Related Parties Related Parties The table below sets forth the major related parties and their relationships with the Company and the Operating Entity (collectively referred to as the “Group”):

| No. |     | Name of Related Parties |     | Relationship                                                                   |
| 1   |     | Mr. Shihai Bi           |     | Director and the chief financial officer of the Company                        |
| 2   |     | Mr. Guanglang Jiang     |     | Director, chairman of the Board and the chief executive officer of the Company |

Amounts due to related parties Amounts due to related parties consisted of the following:

|                                      | Amounts due to related parties | As of March 31, |    2025 |     |   |    2024 |
|:-------------------------------------|:-------------------------------|:----------------|--------:|:----|:--|--------:|
| Mr. Guanglang Jiang(1)               |                                | $               |  73,534 |     | $ |       — |
| Mr. Shihai Bi(2)                     |                                |                 |  66,711 |     |   | 264,515 |
| Total amounts due to related parties |                                | $               | 140,245 |     | $ | 264,515 |

____________ (1)These payables were for the ordinary course of the Group’s operation, which were interest free, unsecure and could be settled on demand. (2)On May 14, 2022, the Group entered into a five -yearloan agreement with Mr. Shihai Bi, allowing borrowings of up to JPY 100 million (US$0.7 million) per transaction for operational purposes. Each loan was interest free and must be repaid