Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 74

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 74
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 our all-in-one shipping
solution system, and a strong capability to provide integrated logistics solutions.

  42  

  Table of Contents  

Seasonality

For the years ended
September 30, 2022, 2023 and 2024, there were no specific and obvious seasonality that affected the demand for our services. With regard
to the global impact of the COVID-19 pandemic, our directors are of view that it indicates no positive correlation between the COVID-19
pandemic and our business. Instead, it is widely understood that demand for certain products are influenced by a number of factors, such
as weather patterns, national holidays, economic conditions, major product launches, brand promotions, and many other market factors.
Accordingly, comparison of sales and operating results from different periods in any given financial year may not be relied upon as indicators
of our performances, since many of the market factors are unpredictable, and we provide no assurances that any market trends will continue.
Due to these potential fluctuations, we place great importance on maintaining close contact with our customers to monitor trends and
capture market needs effectively.

Insurance

We believe our insurance
coverage is adequate to insure against the risks relating to our operations, given the size and nature of our business. Our insurance
coverage includes, among others, work-related injury insurance for our employees and property all risks insurance for our office and
warehousing facilities. Additionally, we also purchase increased costs of work insurance for business interruption, marine liability
insurance, and money-in-transit insurance covering warehouses and parcels, as well as other liability insurance as needed. We review
our insurance policies from time to time for adequacy in the breadth of coverage.

We are not liable
for any damage or loss to our customers’ goods unless such damage or loss is caused by our negligence. Where we are liable for
the damage or loss to our customers’ goods, claims against us from our customers are covered by the insurance policies we maintain
as described above. Our business is, however, susceptible to risks arising from losses we sustain during the course of our business operations,
and we cannot assure you that the insurance policies we have taken out are always able to cover all losses we sustain. In the case of
an uninsured loss or a loss in excess of insured limits, including those caused by natural disasters and other events beyond our control,
we may be required to pay for losses, damages, and liabilities out of our own funds. For details regarding such risks, refer to“ Item
3.