Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 104

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 104
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 22,615,318      $         16,680,941  

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 $5,934,377, or 26.2%, from $22,615,318 for the year ended September 30, 2022 to $16,680,941 for the year ended September 30, 2023,
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 $5,147,935, or 42.0%, from $12,261,846 for the
year ended September 30, 2022 to $7,113,911 for the year ended September 30, 2023, 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, 2023.

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 decreased by $814,569, or 8.0%, from $10,230,017 for the year ended September 30, 2022 to $9,415,448 for
the year ended September 30, 2023, mainly due to less delivery orders from integrated cross-border logistics services.

Our warehouse labor
costs mainly represented salaries and wages of warehouse staff. Our warehouse labor costs increased by $53,941, or 67.9%, from $79,496
for the year ended September 30, 2022 to $133,437 for the year ended September 30, 2023, mainly due to more part-time workers hired to
improve the work efficiency. For the year ended September 30, 2022, some warehouse works were contributed by several full-time employees
which salaries were incurred in general and administrative expenses.

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  Table of Contents  

Our packing costs
mainly represented packing materials, including boxes and labels, for repacking customers’ products. Our packing costs decreased
by $25,814, or 58.7%, from $43,959 for the year ended September 30, 2022 to $18,145 for the year ended