Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 68

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 68
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 2024, our five largest customers accounted for approximately 67.0%, 69.6% and 63.3% of our revenue, respectively.

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  Table of Contents  

We do not enter into
long-term agreements with our customers, which is in line with industry practice. For customers using our integrated cross-border logistics
services, we will provide our rate lists setting out our charges from time to time. As such, it is not necessary for us to provide any
quotations to customers prior to the acceptance of booking instructions. For customers using our air freight forwarding on a segmented
basis, we will provide our quotation to the customers prior to or when a booking instruction is made with us.

We generally do not
have any specific agreement with our customers on liability for damage of goods during transit, but we maintain insurance policies to
cover such losses.

Suppliers

Our suppliers include
(i) air freight carriers for the provision of cargo spaces, (ii) cargo screening service providers in Hong Kong, (iii) customs clearance
companies in both Australia and New Zealand for the preparation of freight documentation and arrangement for customs clearance, and (iv)
local delivery service providers for dispatching and distributing our customers’ goods to their designated destinations in Australia
and New Zealand.

For the year ended
September 30, 2024, two major suppliers accounted for approximately 45.8% and 10.9% of the total cost of revenue, respectively. For
the year ended September 30, 2023, four major suppliers accounted for approximately 33.1%, 23.1%, 13.4% and 10.9% of the total cost of
revenue, respectively. For the year ended September 30, 2022, four major suppliers accounted for approximately 26.2%, 14.7%, 14.6%, and
13.1% of the total cost of revenue, respectively.

For the years ended
September 30, 2022, 2023 and 2024, we transacted with 10, 5 and 12 air freight suppliers, respectively, comprising air freight carriers
and freight forwarders, for the provision of cargo spaces, as well as over 55, 43 and 29 suppliers, respectively, for transport and
local delivery-related services.

In particular, we
procure cargo spaces directly from air freight carriers under different arrangements, including (i) direct booking, and (ii) block space