Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 97

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 97
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 gross profit, the Company focused on selling the air freight spaces with
higher unit prices, which driven down the sales demand and lowered the sales volume from customers. Therefore, the revenue from air freight
forwarding services decreased in general during the year ended September 30, 2024 while comparing to the same period in prior year.

Cost of Revenue

The following table
set forth the breakdown of our cost of revenue for the periods indicated:

                                             Years ended September 30,                                            
                                             2023                                           2024                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Air freight charges                        $                               7,113,911      $          3,520,270  
  Last mile carriage and alliance costs                                      9,415,448                10,399,786  
  Warehouse labor costs                                                        133,437                   167,341  
  Packing costs                                                                 18,145                    33,380  
                                             $                              16,680,941      $         14,120,777  

Our cost of revenue
mainly represented air freight charges, last mile carriage and alliance costs, packaging costs and labor costs. Our cost of revenue decreased
by $2,560,164, or 15.3%, from $16,680,941 for the year ended September 30, 2023 to $14,120,777 for the year ended September 30, 2024,
mainly due to decrease in air freight and courier expenses to fulfill the decreased sales transactions.

Our air freight charges
mainly represented costs of air freight services. Our air freight charges decreased by $3,593,641, or 50.5%, from $7,113,911 for the
year ended September 30, 2023 to $3,520,270 for the year ended September 30, 2024, mainly due to the decreased sales from both air freight
forwarding services and integrated cross-border logistics services and lower air freight rates offered by suppliers during the year ended
September 30, 2024.

Our last mile carriage
and alliance costs mainly represented courier service charges, customs clearance fees and other alliance service charges. Our last mile
carriage and alliance costs increased by $984,338, or 10.5%, from $9,415,448 for the year ended September 30, 2023 to $10,399,786 for
the year ended September 30, 2024,