Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 198

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 198
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IAL STATEMENTS (In U.S. Dollar, except for share data) 13.RELATED PARTY TRANSACTIONS Related Parties The table below sets forth the major related parties and their relationships with 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 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