Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 61

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 61
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     |        — |     |   180,499 |     |        N/A | * |
| Total                                |     |                     2,633,865 |     |      4.0 |     | 963,254 |     |      1.9 |     | 1,670,611 |     |      173.4 |   |

40 Operating expenses Selling and marketing expenses Our selling and marketing expenses primarily consist of (i) shipping and delivery expenses, (ii) payroll expenses of sales personnel, (iii) customs clearance fee, and (iv) other marketing expenses related to sales personnel. Our selling expenses accounted for 1.9% and 1.3% of our total revenue for the years ended March 31, 2025 and 2024, respectively. We expect our overall selling expenses to increase in the foreseeable future and facilitate the growth of our business, especially when we continue to expand our business and promote our products to customers located in extended geographic areas. General and administrative expenses General and administrative expenses primarily consist of (i) staff cost of general and administrative personnel, (ii) depreciation and amortization expenses, (iii) bank charge expenses, (iv) rental expenses, (v) professional services expenses, (vi) travel expenses, and (vii) other miscellaneous administrative expenses. General and administrative expenses were 1.2% and 2.7% of our revenue for the years ended March 31, 2025 and 2024, respectively. We expect our general and administrative expenses, including, but not limited to, staff cost of general and administrative personnel and professional services expenses for business consulting, to continue to increase in the foreseeable future, as we plan to hire additional personnel and incur additional expenses in connection with the expansion of our business operations. We expect our professional services expenses for legal, audit, and advisory services to increase as we become a public company upon the completion of this offering. Gain from disposal of property, plant and equipment Gain from disposal of property, plant and equipment consists of net proceeds from the sale of assets that were no longer aligned with our operational needs or strategic objectives. Other income, net Our other income, net consists of rental income and government subsidy, partially offset by loss from futures trading and impairment of long -terminvestment. Financial expenses, net Our financial expenses, net primarily consist of interest expenses for borrowings, miscellaneous bank charges and gain or loss on foreign exchange. Investment income, net Investment income, net primarily consists of unreal