Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 228

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 228
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 will keep continuous attention on monitoring the development of the Outbreak. Based on the currently available
information, the directors of the Company consider that the Outbreak would not have a material financial impact on the Company’s
overall operation and sales performance.

As an infectious disease, the Outbreak
was first reported in late December 2019 and has since spread to various countries all over the world. On 11 March 2020, the World Health
Organization announced that COVID-19 be characterized as a pandemic based on its assessment and the governments of different countries
have taken drastic measures to curb the spread of the Epidemic. The Epidemic has not only endangered the health of citizens but has also
disrupted the business operations of various enterprises. While the Company’s business operations are primarily based in Hong Kong,
there was no significant impact on the Company’s business in 2022, 2023 and 2024.

Concentration risk

The risk is mitigated by the Company’s
assessment of the level of concentration on its major customers and its ongoing monitoring of outstanding balances.

Concentration of major customers and
suppliers:

SCHEDULES
OF CONCENTRATION OF RISK BY RISK FACTOR

                                                                            For                                                                                         
                                                                            the year                                                                                    
                                                                                                                                                                        
                                                                            ended                                                                                       
                                                                            September 30,                                                                               
                                                                            2022                                                                                        
                                                                            US$                                                                                         
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Major customers representing more than 10% of the Company’s revenues                                                                                                  
  Customer A                                                                $                   3,935,712      16.4       2,631,405      14.2      2,081,273      12.6  
  Customer B                                                                                    3,766,619      15.7       3,362,796      18.1      2,991,256      18.1  
  Customer C                                                                                    4,640,927      19.3       4,065,106      21.9      2,647,457      16.0  
  Total Revenues                                                            $                  12,343,258      51.4      10,059,307      54.2      7,719,986      46.7  

                                                                 As of September 30,                                                          
                                                                 2023                                            2024                         
                                                                 US$                                             US$                          
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