Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 200

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 200
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 Memorandum and Articles of the Company, with said amendments being registered by the BVI Registry of Corporate Affairs on August13, 2025, following which the Company is now authorized to issue unlimited Class A Ordinary Shares with no par value and unlimited Class B Ordinary Shares with no par value. On September9, 2025, the shareholders of the Company approved a share split of the outstanding Class A Ordinary Shares and Class B Ordinary Shares, both at a ratio of 1:2,353, which became effective immediately, resulting in 20,000,500 Class A Ordinary Shares and 3,529,500 Class B Ordinary Shares issued and outstanding after the share split. Holders of Class A ordinary shares and Class B ordinary shares have the same rights, except for voting and conversion rights. In respect of matters requiring the votes of members, each share of Class A ordinary shares is entitled to one vote, and each share of Class B ordinary shares is entitled to twenty votes. Class B ordinary shares are convertible into Class A ordinary shares at any time after issuance at the option of the holder on a one -to -onebasis. Class A ordinary shares are not convertible into shares of any other class. 15.SIGNIFICANT RISKS AND UNCERTAINTIES (a)Interest rate risk Fluctuations in market interest rates may negatively affect the Group’s financial condition and results of operations. The Group is exposed to interest rate risk arising from cash and bank loans. The Group expected no material risks from changes in market interest rates and has not used any derivative financial instruments to manage the interest risk exposure. (b)Foreign exchange risk Foreign exchange risk is the risk that the holding of foreign currency assets will affect the Group’s financial position as a result of a change in foreign currency exchange rates. The reporting currency of the Group’s operations was in USD, and the Group’s subsidiaries generally use their local currencies as functional currencies, i.e., JPY. The Group is mainly exposed to foreign exchange risk in respect of operating activities when purchase of goods and services in geographic areas is using transaction currencies other than JPY. (c)Concentration of credit risk Assets that potentially subject the Group to significant concentrations of credit risk primarily consist of cash, accounts receivable, net and deposits within other receivables. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. All of the Group’s cash is held by financial institutions that the Group’s management believes to have high credit quality. Based on the Group