Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 98

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 98
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 mainly due to increase in unit price for last mile carriage and alliance costs.

Our warehouse labor
costs mainly represented salaries and wages of warehouse staff. Our warehouse labor costs increased by $33,904, or 25.4%, from $133,437
for the year ended September 30, 2023 to $167,341 for the year ended September 30, 2024, mainly due to more part-time workers hired to
improve the work efficiency, and the hourly rate for part-time workers has also been increased significantly. For the year ended September
30, 2023, some warehouse works were contributed by several full-time employees which salaries were incurred in general and administrative
expenses.

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  Table of Contents  

Our packing costs
mainly represented packing materials, including boxes and labels, for repacking customers’ products. Our packing costs increased
by $15,235, or 84.0%, from $18,145 for the year ended September 30, 2023 to $33,380 for the year ended September 30, 2024, mainly due
to increase in unit costs for packing materials used for integrated cross-border logistics services.

Gross Profit

Our gross profit increased
by 27.0% to $2,419,402 for the year ended September 30, 2024, from $1,905,587 for the year ended September 30, 2023. Our gross profit
margin increased to 14.6% for the year ended September 30, 2024, from 10.3% for the year ended September 30, 2023. The increase in gross
profit margin could be attributed to the lower freight costs and higher sales unit prices.

General and Administrative Expenses

The following table
set forth the breakdown of our general and administrative expenses for the periods indicated:

                                                                   Years ended September 30,                                        
                                                                   2023                                        2024                 
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Staff costs                                                      $                              370,826      $           351,155  
  Audit fees                                                                                      171,667                  190,256  
  Travel expenses                                                                                  45,056                  192,020  
  Legal and professional fees                                                                      32,491                  191,428  
  Depreciation charge and amortization of right-of-use assets                                      50,834                   64,688  
  Allowance