Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 14

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 14
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     |     | 4Divinity Pte. Ltd.              |     | Hainan GCL          |     | Hainan GCL Technology Co. Ltd. |
| 4Divinity UK  |     | 4Divinity UK Ltd.                |     | Martiangear         |     | Martiangear Pte. Ltd.          |
| 4Divinity JP  |     | 4Divinity Japan Ltd.             |     | Starry Jewelry      |     | Starry Jewelry Pte. Ltd.       |
| Ban Leong     |     | Ban Leong Technologies Pte. Ltd. |     | Titan Digital Media |     | Titan Digital Media Pte. Ltd.  |
| Epicsoft Asia |     | Epicsoft Asia Pte. Ltd.          |     |                     |     |                                |

3

Summary of Risk Factors Risks Related to the Company’s Business and Industry

| ● | Our                                                                                                                   
 business will suffer if we are unable to distribute and publish new game titles, “hit” game titles or sequels to such 
 “hit” titles.                                                                                                         |

| ● | Our                                                                                                                               
 ability to acquire and maintain licenses to intellectual property through distribution agreements with game publishers may affect 
 our revenue and profitability.                                                                                                    |

| ● | The                                                                                        
 increasing importance of digital content delivery exposes us to the risks of that business 
 model, including greater competition from online and mobile games.                         |

| ● | We                                                                                                   
 rely on our sales channel partners some of whom influence the fee structures for online distribution 
 of our games on their platforms.                                                                     |

| ● | We                                                                                            
 rely on third-party retailers to distribute our games and collect revenues generated on their 
 websites or other e-commerce websites and third-party platforms.                              |

| ● | Our                                                                                         
 success depends on Jacky Choo See Wee, our Group Chairman and CEO of Epicsoft Asia, and our 
 senior management team. Loss of Mr. Choo’s leadership or services from any of               
 our senior management team could have a material adverse effect on our business, financial  
 condition and results of operations.                                                        |

| ● | A                                                                                                                                 
 limited number of customers account for a significant portion of our sales. The loss of a principal customer or other significant 
 business relationship could seriously hurt our business.                                                                          |

| ● | Increased                                                                                                                          
 competition for limited shelf space and promotional support from retailers could affect the success of our business and require us 
 to incur greater expenses to market