Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 26

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 26
---
 disclosure requirements announced by the SEC regarding the listings of such companies and the recent regulatory
development in China and that both countries should strengthen communications on regulating China-related issuers. Since we mainly operate
in Hong Kong, we cannot guarantee that we will not be subject to tightened regulatory review, and we could be exposed to government interference
from China.

We may become subject to a variety
of PRC laws and other obligations regarding data security offerings that are conducted overseas and/or foreign investment in China-based
issuers.

On June 10, 2021,
the Standing Committee of the National People’s Congress enacted the PRC Data Security Law, which took effect on September 1, 2021.
The law requires data collection to be conducted in a legitimate and proper manner, and it stipulates that, for the purpose of data protection,
data processing activities must be conducted based on data classification and a hierarchical protection system for data security.

On July 6, 2021, the
General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a document
to crack down on illegal activities in the securities market and promote the high-quality development of the capital market, which, among
other things, requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial cooperation,
to enhance supervision over China-based companies listed overseas, and to establish and improve the system of extraterritorial application
of the PRC securities laws.

On August 20, 2021,
the 30thmeeting of the Standing Committee of the 13thNational People’s Congress voted and passed the “ Personal
Information Protection Law of the People’s Republic of China” (“ PRC Personal Information Protection Law”), which
became effective on November 1, 2021. The PRC Personal Information Protection Law applies to the processing of personal information of
natural persons within mainland China that is carried out outside of China where (1) such processing is for the purpose of providing
products or services for natural persons within China, (2) such processing is to analyze or evaluate the behavior of natural persons
within China, or (3) there are any other circumstances stipulated by related laws and administrative regulations.

On December 24, 2021,
the CSRC, together with other relevant government authorities in China, issued the Draft Overseas Listing Regulations. The Draft Overseas
Listing Regulations require that a PRC domestic enterprise seeking to issue and list its shares overseas (“ Overseas Issuance