Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 104

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 104
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We sell our game titles
both physically and digitally in Asia through our direct relationships with resellers through their physical and digital storefronts.
Our top customers include regional resellers in Singapore, Hong Kong, Malaysia, Japan, South Korea, Taiwan, Thailand, Indonesia, the
Philippines and other Asian countries. We have sales operations in Singapore, Hong Kong, Malaysia, but also have marketing staff in Europe,
the Middle East and other parts of the world outside of Asia.

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For the fiscal year ended
March 31, 2025, 2024 and 2023, over 86.8%, 93.3% and 87.9% of our total consolidated revenue was generated from game distributions, respectively.
We are dependent on a limited number of customers that account for a significant portion of sales. For the fiscal year ended March 31,
2025, our three biggest customers accounted for approximately 15%, 15% and 14% of our total revenue, respectively. For the fiscal year
ended March 31, 2024, sales to our four biggest customers accounted for over half of our total consolidated revenue, with each of
them accounting for approximately 17%, 12%, 11% and 11% of our total revenue, respectively. For the fiscal year ended March 31,
2023, sales to our five biggest customers accounted for almost half of our total consolidated revenue, with the top three customers accounting
for approximately 13%, 11%, and 10% of our total revenue, respectively. While we believe digital distribution will continue to rise and
presents an important growth opportunity for our industry and company, we expect that packaged goods and traditional retailers will continue
to be a significant channel for the sale of our console products for the foreseeable future.

Our marketing and promotional
efforts are intended to maximize consumer interest in our game titles, promote brand name recognition in the industry, assist retailers
and properly position, package and merchandise the game titles we distribute. Depending on the arrangements we have with the game publishers,
we may be able to recoup some or all of our marketing expenses in connection with our promotional efforts of certain select game titles.

We market game titles by:

| ● | implementing promotional campaigns, using digital, online, outdoor, and print marketing; |

| ● | adapting international game products to local markets, including but not limited to, producing localization materials in additional 
 languages (e.g., Chinese, Japanese, Korean, and