HUHUTECH International Group Inc.
For the period ended Dec 31, 2025. Filed Apr 28, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Apr 28, 2026
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Cover page
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 20-F
(Mark One)
☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31,2025
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number:001-42376
HUHUTECH International Group Inc.
(Exact name of Registrant as specified in its charter)
Cayman Islands
(Jurisdiction of incorporation or organization)
3-1208 Tiananzhihui Compound
228 Linghu Road
Xinwu District, Wuxi City, Jiangsu Province
People’s Republic of China 214135
0510-88681689 — telephone
(Address of principal executive offices)
Yujun Xiao
Chief Executive Officer
3-1208 Tiananzhihui Compound
228 Linghu Road
Xinwu District, Wuxi City, Jiangsu Province
People’s Republic of China 214135
0510-88681689 — telephone
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Ordinary shares, par value $0.0000025 per share | HUHU | Nasdaq Capital Market |
Securities registered or to be registered pursuant to Section 12(g) of the Act:None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:None
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:24,103,749 ordinary shares issued and outstanding as of December 31, 2025.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
☐ Yes ☒No
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
☐ Yes ☒No
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
☒Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
☒Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ | Non-accelerated filer ☒ |
|---|---|---|
| Emerging growth company ☒ | ||
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
| U.S. GAAP ☒ | International Financial Reporting Standards as issued | Other ☐ |
|---|---|---|
| by the International Accounting Standards Board ☐ |
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.
☐ Item 17 ☐ Item 18
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).
☐ Yes☒ No
(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.
☐ Yes ☐ No
Table of Contents
| Page | ||
|---|---|---|
| PART I | 1 | |
| Item 1. | Identity of Directors, Senior Management and Advisers | 1 |
| Item 2. | Offer Statistics and Expected Timetable | 1 |
| Item 3. | Key Information | 1 |
| Item 4. | Information on the Company | 54 |
| Item 4A. | Unresolved Staff Comments | 87 |
| Item 5. | Operating and Financial Review and Prospects | 87 |
| Item 6. | Directors, Senior Management and Employees | 101 |
| Item 7. | Major Shareholders and Related Party Transactions | 110 |
| Item 8. | Financial Information | 115 |
| Item 9. | The Offer and Listing | 115 |
| Item 10. | Additional Information | 116 |
| Item 11. | Quantitative and Qualitative Disclosures About Market Risk | 130 |
| Item 12. | Description of Securities Other than Equity Securities | 131 |
| PART II | 132 | |
| Item 13. | Defaults, Dividend Arrearages and Delinquencies | 132 |
| Item 14. | Material Modifications to the Rights of Security Holders and Use of Proceeds | 132 |
| Item 15. | Controls and Procedures | 133 |
| Item 16. | [Reserved] | 133 |
| Item 16A. | Audit Committee Financial Expert | 133 |
| Item 16B. | Code of Ethics | 134 |
| Item 16C. | Principal Accountant Fees and Services | 134 |
| Item 16D. | Exemptions from the Listing Standards for Audit Committees | 134 |
| Item 16E. | Purchases of Equity Securities by the Issuer and Affiliated Purchasers | 134 |
| Item 16F. | Change in Registrant’s Certifying Accountant | 134 |
| Item 16G. | Corporate Governance | 135 |
| Item 16H. | Mine Safety Disclosure | 135 |
| Item 16I. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. | 135 |
| Item 16J. | Insider Trading Policies | 135 |
| Item 16K. | Cybersecurity | 135 |
| PART III | 136 | |
| Item 17. | Financial Statements | 136 |
| Item 18. | Financial Statements | 136 |
| Item 19. | Exhibits | 136 |
i
INTRODUCTION
Except where the context otherwise requires and for purposes of this annual report only the term:
| ● | “Articles”, “articles of association” or “memorandum and articles of association” are to the amended and restated memorandum and articles of the Company adopted pursuant to a special resolution of the shareholders dated July 15, 2024, as amended and/or amended and restated from time to time; |
| ● | “China” or the “PRC” are to the People’s Republic of China, excluding Taiwan and the special administrative regions of Hong Kong and Macau for the purposes of this annual report only; |
| ● | “HUHUTECH” are to HUHUTECH International Group Inc., a Cayman Islands exempted company limited by shares; |
| ● | “HUHU China” are to Jiangsu Huhu Electromechanical Technology Co., Ltd., a PRC incorporated limited liability company. HUHU China is a wholly owned subsidiary of WFOE; |
| ● | “HUHU Deutschland” are to Huhu Technologies Deutschland GmbH, a German company and a wholly-owned subsidiary of HUHUTECH; |
| ● | “HUHU HK” are to HUHUTECH (HK) Limited, a Hong Kong company, limited by shares, which is a wholly-owned subsidiary of HUHUTECH; |
| ● | “HUHU Japan” are to HUHU Technology Co., Ltd., a Japanese limited company and a wholly owned subsidiary of HUHUTECH; |
| ● | “HUHU Singapore” are to Huhu Technology Singapore Pte. Ltd, a Singapore company, which is a wholly-owned subsidiary of HUHUTECH; |
| ● | “HUHU USA” are to Aspirational Technology Co. (“HUHU USA”): A company duly incorporated in the state of Arizona, and a wholly-owned subsidiary of HUHUTECH; |
| ● | “Operating Subsidiaries” refers collectively to HUHU China, HUHU HK, HUHU Japan, WFOE, HUHU Deutschland, HUHU Singapore and HUHU USA, and each, individually, an “Operating Subsidiary”; |
| ● | “Ordinary Shares” are to the ordinary shares of the Company, par value US$0.0000025 per share; |
| ● | “U.S. dollars,” “$,” and “USD” are to the legal currency of the United States; |
| ● | “WFOE” are to Wuxi Xinwu District Jianmeng Electromechanical Technology Co., Limited, a wholly foreign-owned enterprise in the PRC and a wholly owned subsidiary of HUHU HK; and |
| ● | “we,” “us,” “our,” “our company,” or “the Company” are to HUHUTECH and its Operating Subsidiaries, in the context of describing our operations and consolidated financial information. |
HUHUTECH International Group Inc. is a holding company incorporated in the Cayman Islands with operations conducted primarily through its Operating Subsidiaries. Our business is primarily conducted in Renminbi (“RMB”), Japanese Yen (“JPY”), Singapore Dollar (“SGD”), European Currency Unit (“EURO”) and United States dollar (“USD”). The reporting currency of the Company is U.S. dollars. Assets and liabilities denominated in foreign currencies are translated at year-end exchange rates, income statement accounts are translated at average rates of exchange for the year, and equity is translated at historical exchange rates. Any translation gains or losses are recorded in other comprehensive income (loss). Gains or losses resulting from foreign currency transactions are included in net income (loss).
Unless otherwise noted, all translations from RMB to U.S. dollars in this annual report were made at a year-end spot rate of RMB6.9931 to US$1.00 or an average rate of RMB7.1875 to US$1.00 for the fiscal year ended December 31, 2025 and RMB7.2993 to US$1.00 or an average rate of RMB7.1957 to US$1.00 for the fiscal year ended December 31, 2024. All translations from JPY to U.S. dollars were made at a year-end spot rate of JPY156.80 to US$1.00 or an average rate of JPY149.57 to US$1.00 for the fiscal year ended December 31, 2025 and JPY157.37 to US$1.00 or an average rate of JPY151.46 to US$1.00 for the fiscal year ended December 31, 2024. All translations from EUR to U.S. dollars were made at a year-end spot rate of EUR0.8521 to US$1.00 or an average rate of EUR0.8845 to US$1.00 for the fiscal year ended December 31, 2025 and JPY0.9661 to US$1.00 or an average rate of EUR0.9242 to US$1.00 for the fiscal year ended December 31, 2024. All translations from SGD to U.S. dollars were made at a year-end spot rate of SGD1.2859 to US$1.00 or an average rate of SGD1.3065 to US$1.00 for the fiscal year ended December 31, 2025.
ii
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This annual report contains forward-looking statements that reflect our current expectations and views of future events, all of which are subject to risks and uncertainties. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this annual report. These statements are likely to address our growth strategy, financial results and product and development programs. You must carefully consider any such statements and should understand that many factors could cause actual results to differ from our forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:
| ● | our goals and strategies; |
| ● | our future business development, financial condition and results of operations; |
| ● | introduction of new product and service offerings; |
| ● | expected changes in our revenues, costs or expenditures; |
| ● | our expectations regarding the demand for and market acceptance of our products and services; |
| ● | expected growth of our customers, including consolidated account customers; |
| ● | competition in our industry; |
| ● | government policies and regulations relating to our industry; |
| ● | the impact of war, armed conflicts and geopolitical tensions on our business, supply chain, and the global economy; |
| ● | the impact of public health emergencies, epidemics or pandemics on our business, industry and the global economy; |
| ● | other factors that may affect our financial condition, liquidity and results of operations; and |
| ● | other risk factors discussed under “Item 3. Key Information — 3.D. Risk Factors.” |
We base our forward-looking statements on our management’s beliefs and assumptions based on information available to our management at the time the statements are made. We caution you that actual outcomes and results may, and are likely to, differ materially from what is expressed, implied or forecast by our forward-looking statements. Accordingly, you should be careful about relying on any forward-looking statements. Except as required under the federal securities laws, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this annual report, whether as a result of new information, future events, changes in assumptions, or otherwise.
iii
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.