Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 47

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 47
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 unaffiliated with the GCL Group       
  for a combination of cash and stock consideration. In December 2024, GCL Global SG acquired       
  100% equity interests of Martiangear from TDM.                                                    
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  4Divinity                                                                                     
  Pte. Ltd. (“ 4Divinity ”) — formed in September 2022                                          
  in Singapore initially dedicated to the games publishing business, but more recently, also    
  to game development. In December 2024 and April 2025, each of 4Divinity UK Ltd. (“ 4Divinity  
  UK ”) and 4Divinity Japan (“ 4Divinity JP ”) was formed                                       
  as a wholly-owned subsidiary of 4Divinity to support GCL Group’s game publishing and          
  development business in Europe and Japan, respectively.                                       
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  2Game Digital Limited (“ 2Game ”) — formed                                                                                              
  in May 2022 in Hong Kong primarily for distribution of activation keys and related products. In July 2022, GCL Global SG acquired       
  51% of the equity interests in 2Game in a combination of cash and stock transaction. In March 2025, GCL Global SG increased its equity  
  stake in 2Game from 51% to 61%. See “ Recent Developments.” 2Game is GCL Group’s officially authorized digital                          
  video game platform, representing GCL Group’s effort to transition from physical goods to digital content, including the sale of        
  activation keys to retailers and consumers. In August 2023, 2Game Pro Ltda (“ 2Game Brazil ”) was formed in Brazil                      
  as a wholly-owned subsidiary of 2Game to expand its business into Latin America. In October 2024, 2Game Digital DMCC (“ 2Game           
  Dubai ”) was formed in Dubai as a wholly-owned subsidiary of 2Game to expand its business into the UAE and MENA region.                 
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  Hainan                                                                               
  GCL Technology Co. Ltd. (“ Hainan GCL ”) — formed in July                            
  2024 in China to support GCL Group’s collaboration efforts with