Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 8

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 8
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 certain inherent risks. We may not have the resources to fund such investment. Even if we have sufficient funding,
assets that best suit our needs may not be available at reasonable prices or at all. In addition, we are likely to incur capital expenditures
earlier than all of the anticipated benefits, and the return on these investments may be lower, or may be realized more slowly, than
we expected. In addition, the carrying value of the related assets may be subject to impairment, which may adversely affect our financial
condition and operating results.

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  Table of Contents  

Our business is substantially dependent
on our relationship with our major service suppliers. Changes or difficulties in our relationships with our service suppliers may harm
our business and financial results.

Our business is substantially
dependent on our relationship with our major service suppliers. Our suppliers primarily include air freight carriers, ground transportation
companies, and customs clearance companies. We consider major service suppliers in each period to be those suppliers that accounted for
more than 10% of overall purchases in such period. For the year ended September 30, 2024, two major suppliers accounted for 45.8% and
10.9% of our total purchases. For the year ended September 30, 2023, four major suppliers accounted for 33.1%, 23.1%, 13.4% and 10.9%
of our total purchases. For the year ended September 30, 2022, four major suppliers accounted for 26.2%, 14.7%, 14.6%, and 13.1% of our
total purchases.

Apart from the cargo
block space agreements, we generally do not enter into any long-term agreements with our service suppliers. Accordingly, there is no
assurance that Globavend HK can maintain stable and long-term business relationships with any service supplier. Failure to maintain existing
relationships with the service suppliers or to establish new relationships in the future could negatively affect Globavend HK’s
ability to obtain their services in a price advantage and timely manner. If Globavend HK is unable to obtain ample supply of services
from existing suppliers or alternative sources of supply, Globavend HK may be unable to satisfy the orders from its customers or may
only be able to provide its integrated cross-border logistics services or freight forwarding services to its customers at a much higher
rate.

In addition, in the
event that we are unable to renew our block space agreements with air freight carriers, it may