Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 175

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 175
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, or upon arrival at the location designated by the customers, which is the point when the risks and titles are transferred to the customer. The Group’s products are sold with no right of return, and the Company does not provide other credits or sales incentives to customers. Revenue is reported on a gross basis, as the Group acts as the principal in these transactions, for which it bears inventory risk, exercises discretion over pricing, and is responsible for fulfilling the obligation to deliver the specified goods to customers. Revenue from technology licensing The Group grants licenses to a third party for the use of relevant technologies related to the classification, dismantling, treatment, and recycling of scrap metals. Revenue from technology licensing is recognized on a straight -linebasis over the contract periods. Revenue is reported on a gross basis, as the Group acts as the principal in these transactions, for which the Group controls the patent delivery process before licensing to the third party, and is responsible for the technical support and providing guidance, and also has discretion over the pricing and terms. The following table disaggregates the Group’s total revenues by revenue streams for the years ended March 31, 2025 and 2024:

| By revenue types:    |     | For the years ended 
 March 31,           
 2025                |            |     | 2024 |            |
|:---------------------|:----|:--------------------|-----------:|:----|:-----|-----------:|
| Recycling sales      |     | $                   | 65,203,328 |     | $    | 51,003,770 |
| Technology licensing |     |                     |    196,666 |     |      |          — |
| Total                |     | $                   | 65,399,994 |     | $    | 51,003,770 |

F-14

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 following tables illustrates the disaggregation of revenue by timing of revenue recognition for the years ended March 31, 2025 and 2024:

| Timing of revenue recognition |     | For the years ended 
 March 31,           
 2025                |            |     | 2024 |            |
|:------------------------------|:----|:--------------------|-----------:|:----|:-----|-----------:|