Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 65

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 65
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     |                     1,606,268 |   |     |   2.5 |   |     |    (463,056 | ) |     |  (1.0 | ) |     |   2,069,324 |   |     |     (446.9 | ) |
| Income tax (expense) benefit                        |     |                      (389,290 | ) |     |  (0.6 | ) |     |     160,167 |   |     |   0.3 |   |     |    (549,457 | ) |     |     (343.1 | ) |
| Net income (loss)                                   |     |                     1,216,978 |   |     |   1.9 |   |     |    (302,889 | ) |     |  (0.7 | ) |     |   1,519,867 |   |     |     (501.8 | ) |

Revenues Recycling sales We specialize in the sale of scrap metal and waste paper, connecting customers with industries that rely on these recycled materials. We facilitate the supply of high -qualityscrap metal and waste paper to manufacturers in sectors such as non -ferrousmetal processing and paper recycling. By maintaining strong relationships with both suppliers and customers, we ensure a consistent flow of materials to meet the increasing demand for sustainable raw materials. Our revenue from recycling sales was approximately US$65.20 million and approximately US$51.00 million for the years ended March 31, 2025 and 2024, respectively. For recycling sales, we recorded revenues of approximately US$65.20 million for the year ended March 31, 2025, representing an increase of 27.8% from approximately US$51.00 million for the year ended March 31, 2024. The growth was primarily driven by the successful expansion of our customer base, particularly in Southeast Asia, which led to a 31% increase in the sales volumes of waste paper,

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a 17% increase in its average selling price, and a 39% increase in the average selling price of scrap metal, partially offset by a 14% decrease in the sales volume of scrap metal. The following table sets forth a breakdown of our revenues from recycling sales by products, in absolute amounts and as percentages of total revenues, for the periods indicated.

|                                     |     | For the Years Ended March 31, |     |