Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 96

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 96
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 TAX ADVISOR REGARDING THE PARTICULAR U.S. FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES OF PURCHASING, HOLDING AND DISPOSING OF OUR ORDINARY SHARES, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAWS.

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BUSINESS</div>

The following discussion reflects our business. Unless the context otherwise requires, all references in this section to “we,” “us,” and “our” refer collectively to GCL Global Holdings Ltd and its subsidiaries following the consummation of the Business Combination.

Overview

The Company, together with
the Group Subsidiaries (“GCL Group”), is a leading marketer, distributor and publisher of video games and entertainment
content sold in Asia. It sells and distributes to retailers and consumers physical and digital copies of video games through physical
retailers, such as Sony PlayStation stores in Japan, and online channels in Singapore, Hong Kong, Malaysia, Japan, South Korea, Taiwan,
Thailand, Indonesia, the Philippines, other Asian countries and Europe. Approximately 96.4% and 93.3% of our total consolidated revenue
for the six months ended September 30, 2024 and fiscal year ended March 31, 2024, respectively, was derived from the sale of either games
compatible with major gaming consoles such as Sony PlayStation, Microsoft Xbox, Nintendo Switch and personal computer (“PC”)
to retailers, or game activation keys (the so-called “game codes”) via electronic delivery to retailers or end-users through
email or download. The Company has its own creative media design team with studio facilities to produce marketing and promotional materials
adapted to local markets and develop original content as part of its content creation or marketing business. Partnering with international
video game publishers and developers, the Company has an established track record of selling and marketing top-tier video game franchises
such as Grand Theft Auto, Red Dead Redemption, Sonic the Hedgehog and Cyberpunk 2077. The Company also has its own production studio
and advertising agency, providing media and content advertising services for small and medium-sized enterprises (the “SMEs”)
and government agencies. In 2022, the Company started to dedicate resources to the game publishing business by forming a wholly-owned
subsidiary, 4Divinity, to invest in upcoming game titles as either a publisher or a co-publisher for the global market. GCL Group’s
mission is to become the next