Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 171

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 5
Chunk 171
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3 to $15,116,783 for the year ended September 30, 2024. The revenue was mainly derived from the integrated cross-border logistics services for delivering goods from Hong Kong to Australia and New Zealand. Logistics revenue is recognized over the logistics time. The decrease of revenue from the integrated cross-border logistics services is due to the higher average sales price per freight weight which driven down sales demand and volume from customers.
 
The following table set forth the breakdown of our revenue analysis for integrated cross-border logistics services for the periods indicated:
 

                                                       Years ended September 30,        
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                                           2023                      2024               
Average daily number of packages                     $5,654                       $6,135
Average daily freight weight (kilogram)               2,459                        1,937
Average daily number of shipments                      3.69                         3.24
Average daily revenue per freight weight              18.80                        21.32
 
Our revenue from air freight forwarding services decreased by $290,593 or 17.0%, from $1,713,989 for the year ended September 30, 2023 to $1,423,396 for the year ended September 30, 2024, The Company sells air freight spaces to other freight forwarders to earn income through the price differences. Air freight forwarding revenue is recognized upon the completion of the transaction. The decrease of such revenue is mainly due to the change in pricing strategy. In order to reach a high 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,              
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                                        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