Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 180

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 180
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 decisions about allocating resources and assessing performance of the segment, and hence, the Group has only one principal reportable segment. The single reportable segment is revenue derived from recycling sales. The primary measure of segment revenue and profitability for the Group’s operating segment is considered to be consolidated revenue and net income. Significant segment expenses reviewed by the CODM on a regular basis included within net income include cost of sales, selling and marketing expenses, general and administrative expenses which are separately presented on the Group’s consolidated statements of operations and comprehensive income (loss). Other segment items within net income include financial expenses, net, other income or loss, net, and income tax expense. CODM uses segment profit or loss to monitor budget versus actual results, and also in competitive analysis by benchmarking to the Group’s competitors at the same development stage. F-17

SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long -livedassets are all located in Japan, no geographical segment information of long -livedassets is presented. The CODM does not review any information regarding total assets on a reportable segment basis. Revenue by products The following table disaggregates the Group’s revenues by products and technology licensing revenues for the years ended March 31, 2025 and 2024. Products revenues relate to recycling sales of scrap metal and waste paper.

| Recycling sales:              |     | For the years ended 
 March 31,           
 2025                |            |     | 2024 |            |
|:------------------------------|:----|:--------------------|-----------:|:----|:-----|-----------:|
| Scrap metal                   |     | $                   | 45,599,553 |     | $    | 38,217,051 |
| Waste paper                   |     |                     | 19,603,775 |     |      | 12,786,719 |
| Subtotal                      |     |                     | 65,203,328 |     |      | 51,003,770 |
| Other:                        |     |                     |            |     |      |            |
| Technology licensing revenues |     |                     |    196,666 |     |      |          — |
| Total                         |