SCHEDULE 13G/A 0001393825 XXXXXXXX LIVE 1 Common Stock, $0.0002 par value 12/31/2023 0001791725 Huadi International Group Co., Ltd. G4645E105 NO. 68, YAQIAN VILLAGE, YONGZHONG STREET Wenzhou F4 325025 Rule 13d-1(b) Hudson Bay Capital Management LP DE 0.00 0.00 0.00 0.00 0.00 N 0 IA PN Sander Gerber X1 0.00 0.00 0.00 0.00 0.00 N 0 HC IN Huadi International Group Co., Ltd. No. 1688 Tianzhong Street, Longwan District, Wenzhou, Zhejiang Province, People's Republic of China 325025 This statement is filed by Hudson Bay Capital Management LP (the "Investment Manager") and Mr. Sander Gerber ("Mr. Gerber"), who are collectively referred to herein as "Reporting Persons." The address of the business office of each of the Reporting Persons is 290 Harbor Dr., Stamford, CT 06902. The Investment Manager is a Delaware limited partnership. Mr. Gerber is a United States citizen. N IA HC The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The Investment Manager serves as the investment manager to Hudson Bay Master Fund Ltd., in whose name the securities reported herein were held. As such, the Investment Manager may have been deemed to be the beneficial owner of all shares of Common Stock held by Hudson Bay Master Fund Ltd. Mr. Gerber serves as the managing member of Hudson Bay Capital GP LLC, which is the general partner of the Investment Manager. Mr. Gerber disclaims beneficial ownership of these securities. 0% The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference. N Y N See Item 4(a). Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Hudson Bay Capital Management LP /s/ Sander Gerber 08/07/2025 Sander Gerber /s/ Sander Gerber 08/07/2025