Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 237

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 237
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1,395,466                       952,977  
  Totals                    $              1,417,173      $              1,017,143  

F-50

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 21 - Concentration of Credit risk

(1)    Major customers

For the year ended
March 31, 2025, customers F, C, and A, are accounted for approximately15%,15%, and14% of the Company’s total
revenue, respectively. For the year ended March 31, 2024, customers A, F, B and C from the Company’s distribution of console
game segment are accounted for approximately17%,12%,11%, and11% of the Company’s total revenue, respectively. For the year
ended March 31, 2023, customers A, B and C are accounted for approximately13%,11%, and10% of the Company’s total revenue,
respectively.

As of March 31, 2025, customers
A, B, E and C from the Company’s distribution of console game segment accounted and game publishing segment for approximately31%,17%,17and12% of the total balance of accounts receivable, respectively. As of March 31, 2024, customers A and B from the Company’s
distribution of console game segment accounted for approximately42% and14% of the total balance of account receivable, respectively.

(2)    Major vendors

For the year ended March
31, 2025, three vendors a, b and o are accounted for approximately41%,13% and10% of the Company’s total cost of goods sold, respectively.
For the year ended March 31, 2024, two vendors a and b are accounted for approximately34% and21% of the Company’s total cost of
goods sold, respectively For the year ended March 31, 2023, three vendors a, b, and c are accounted for approximately25%,14% and12%
of the Company’s total cost of goods sold, respectively.

As of March 31, 2025, vendors
h, a, and e accounted for approximately46%,16% and16% of the Company’s total balance of accounts payable, respectively. As of
March 31, 2024, vendors a, h and f accounted for approximately29%,12