Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 110

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 110
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 the paper pulps, our suppliers primarily consisted of recycled pulp mills located in Japan. For the old metal appliances, our suppliers are mostly metal appliances collection companies located in Japan. For processed and dismantled metal wires, our suppliers primarily consisted of dismantling factories operating in the same area. For the fiscal year ended March 31, 2025, we had one major supplier who accounted for more than 10% of our total purchases. For the fiscal year ended March 31, 2025, our purchases from the major supplier amounted to $22,388,322, which accounted for 35.67% of our total purchases. For the fiscal year ended March 31, 2024, we had one major supplier who accounted for more than 10% of our total purchases. For the fiscal year ended March 31, 2024, our purchases from the major supplier amounted to $18,306,002, which accounted for 36.58% of our total purchases. 77 We entered into a master supply agreement with our major supplier (the “Supply Agreement”), of which the material terms are as follows: Term and Termination The Supply Agreement is effective for a period of three years from the date of execution, December 1, 2023. Unless either party raises a written objection three (3) months prior to the expiration date of the Supply Agreement, it shall automatically be extended for a period of one (1) year. In the event of any material breach, violation of law, or bankruptcy of a party, the other party may immediately terminate the Supply Agreement. Subject Items The subject items under the Supply Agreement are dismantled and sorted recyclable metal resources that can be directly used by downstream smelters, including but not limited to: •Scrap metals such as copper, aluminum, iron, brass, and stainless steel; and •Other recyclable metal items mutually agreed in writing by both parties. The major supplier shall ensure all goods are valuable resources, rather than unprocessed general waste, and comply with relevant Japanese laws. Transaction and Payment Terms The Supply Agreement serves as a master supply agreement. All details regarding price, quantity, place of delivery, and payment terms shall be specified in the respective purchase order. In the event of inconsistency, the purchase orders shall prevail. In principle, we are required to make payment by bank transfer within 30 days after receipt of qualified goods and valid invoices. Delivery and Logistics We are responsible for arranging the transportation of the goods. The ownership and risk of loss or damage of