Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 288

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 288
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,721 |
| Income before income taxes    |     | $                                 |  1,194,010 |     | $          | 1,468,958 |   |     | $                 |    97,844 |   |     | $            |  2,760,812 |
| Net income                    |     | $                                 |    818,670 |     | $          | 1,231,918 |   |     | $                 |    90,082 |   |     | $            |  2,140,670 |
| Capital expenditure           |     | $                                 |    472,911 |     | $          |         — |   |     | $                 |    65,450 |   |     | $            |    538,361 |

<div align='center'>F-54

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The accounting principles for the Company’s revenue
by segment are set out in Note 2.

As of March 31, 2024, the Company’s total
assets were comprised of $41,359,537 for sale of console game, hardware and accessories, $7,042,024 for game publishing, $957,031 for
advertising services, and $199,652 for others.

As of March 31, 2023, the Company’s total
assets were comprised of $39,960,655 for sale of console game, hardware and accessories, $6,515,985 for game publishing, $1,347,335 for
advertising services, and $0 for others.

Disaggregated information of revenues by regions are as follows:

|               |     |   |   For the year 
          ended 
 March 31, 2024 |     |   |   For the year 
          ended 
 March 31, 2023 |
|:--------------|:----|:--|---------------:|:----|:--|---------------:|
| Singapore     |     | $ |     58,145,593 |     | $ |     42,569,909 |
| Hong Kong     |     |   |     32,696,502 |     |   |     25,963,383 |
| Malaysia      |     |   |      6,692,606 |     |   |      8,910,863 |
|