Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 40

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 40
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uniary penalty, disqualification or other order under the Competition Ordinance. The guidelines and policies published by the Competition
Commission in Hong Kong did not mention any remedies which may impact on the Company’s ability to accept foreign investment or
list on a U. S./foreign exchange as a result of the non-compliance of the Competition Ordinance.

We confirm that we
have not adopted any anti-competitive conduct described in the Competition Ordinance and will continue to act in compliance with the
Competition Ordinance. However, there may be uncertainties on the full effect of the rules in respect of compliance, infringement, and
its effect on our business in particular when tendering is involved in securing contracts. We may face difficulties and may need to incur
legal costs in ensuring our compliance with the rules. If we face any complaints of infringement of the Competition Ordinance, we may
incur substantial legal costs and may result in business disruption and/or negative media coverage, which could adversely affect our
business, results of operations and reputation.

Fluctuations in exchange rates
could have a material adverse effect on our results of operations and the price of our Ordinary Shares.

Our business is conducted
in Hong Kong through our operating subsidiary in Hong Kong; our books and records are reported in Hong Kong dollars, which is the currency
of Hong Kong; and the financial statements that we file with the SEC and provide to our shareholders are presented in U. S. dollars.

Since 1983, Hong Kong
dollars have been pegged to U. S. dollars at the rate of approximately HK$7.80 to US$1.00. Changes in the exchange rate between the Hong
Kong dollar and U. S. dollar affect the value of our assets and the results of our operations in U. S. dollars. The value of the Hong Kong
dollar against the U. S. dollar and other currencies may fluctuate and is affected by, among other things, changes in Hong Kong’s
political and economic conditions and perceived changes in the economy of Hong Kong and the United States. Any significant revaluation
of the Hong Kong dollar may materially and adversely affect our cash flows, revenue, and financial condition.

We cannot assure you
that the current policy of the pegging of Hong Kong dollars to U. S. dollars will not be changed in the future. If the pegging system
collapses and Hong Kong dollars suffer devaluation, the Hong Kong dollar cost of our expenditures denominated in foreign currency may
increase