Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 39

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 39
---
 which could adversely affect our business,
financial condition, and results of operations.

Failure to comply with Hong Kong
Competition Law may result in material and adverse effect on our business, financial condition and results of operations.

We operate in a competitive
industry and a highly competitive market. We may be subject to a variety of laws and other obligations regarding competition law in Hong
Kong, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, financial
condition and results of operations. We face significant competition in the market due to a large amount of goods and service providers.
We may be subject to the Competition Ordinance (Chapter 619 of the Laws of Hong Kong) (“ Competition Ordinance”), which came
into force on December 14, 2015, which laid down three forms of behavior and imposes three rules which are intended to prevent and discourage
anti-competitive conduct: (i) the first conduct rule prohibits agreements between undertakings that have the object or effect of preventing,
restricting and distorting competition in Hong Kong; (ii) the second conduct rule prohibits undertakings with a substantial degree of
market power in a market from abusing that power by engaging in conduct that has the object or effect of preventing, restricting and
distorting competition in Hong Kong; and (iii) the merger rule prohibits mergers that have or are likely to have the effect of substantially
lessening competition in Hong Kong. Currently, the merger rule only applies where an undertaking that directly or indirectly holders
a “carrier license” within the meaning of the Telecommunications Ordinance (Chapter 106 of the Laws of Hong Kong) is involved
in a merger, and is therefore not applicable to our business.

  23  

  Table of Contents  

The Competition Commission
is a statutory body in Hong Kong established to investigate any contravention against and enforce on the provisions of the Competition
Ordinance, and the Competition Tribunal is a tribunal set up under the Competition Ordinance, as part of Hong Kong judiciary, to hear
and decide cases connected with competition law in Hong Kong. Under the guidelines and policies published by the Competition Commission,
possible outcomes of investigation of contravention of the Competition Ordinance may include the acceptance of commitment given by infringer,
the issuing of warning notice or infringement notice, commencement of proceedings in the Competition Tribunal, applying for consent order,
referral of complaint to a government agency and the conduct of a market study. The Competition Tribunal may order remedies including
pec