Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 102

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 102
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,571,643  
  Air freight forwarding services                                                 4,577,014       1,713,989      (2,863,025  
                                                                                 24,021,196      18,586,528      (5,434,668  
  Cost of revenue                                                                16,621,775      10,521,866      (6,099,909  
  Cost of revenue – related party                                                 5,993,543       6,159,075         165,532  
  Cost of revenue                                                                22,615,318      16,680,941      (5,934,377  
  Gross profit                                                                    1,405,878       1,905,587         499,709  
  General and administrative expenses                                               588,732         758,726         169,994  
  Income from operation                                                             817,146       1,146,861         329,715  
  Other income (expense)                                                                                                     
  Interest income                                                                       108           3,481           3,373  
  Interest expense                                                                   (2,755          (1,066           1,689  
  Other income                                                                      122,289         120,367          (1,922  
  Total other income, net                                                           119,642         122,782           3,140  
  Income before income taxes                                                        936,788       1,269,643         332,855  
  Income tax expenses                                                               126,561         192,251          65,690  
  Net income                                                                        810,227       1,077,392         267,165  

  61  

  Table of Contents  

Year Ended September 30, 2023 Compared
to Year Ended September, 2022

Revenues

Our revenue decreased
by $5,434,668, or 22.6%, from $24,021,196 for the year ended September 30, 2022 to $18,586,528 for the year ended September 30, 2023,
primarily due to the decrease in the integrated cross-border logistics services and air freight forwarding services in 2023.

Our revenue from integrated
cross-border logistics services decreased by $2,571,643, or 13.2%, from $19,444,182 for the year ended September 30, 2022 to $16,872,539
for the year