Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 173

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 5
Chunk 173
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,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 for expected credit loss                                        44,765                           6,936
Others                                                                    43,087                          82,866
                                                                        $758,726                      $1,079,349
 
Our general and administrative expenses mainly represented staff costs, audit fees, traveling expenses, depreciation charge, amortization of right-of-use assets, legal and professional fees, allowance for expected credit loss and other administrative expenses. Our general and administrative expenses increased by $320,623, or 42.3%, from $758,726 for the year ended September 30, 2023 to $1,079,349 for the year ended September 30, 2024, mainly due to increase in travel expenses and legal and professional fees.
 
Our audit fees mainly represent annual audit fees incurred by the Company and its subsidiary. Audit fees increased by $18,589, or 10.8%, from $171,667 for the year ended September 30, 2023 to $190,256 for the year ended September 30, 2024. This was mainly due to the professional services fees on the audit related consent incurred for the year ended September 30, 2024.
 
Our staff costs mainly represent staff salaries, contribution to staff retirement benefits and staff welfare for office staff and director. Staff costs decreased by $19,671, or 5.3%, from $370,826 for the year ended September 30, 202