Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 345

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 345
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     |   |           |
| GST taxes payable    |     | $          |         8,981 |     | $ |    64,166 |
| Income taxes payable |     |            |       959,273 |     |   |   952,977 |
| Totals               |     | $          |       968,254 |     | $ | 1,017,143 |

Note 16 — Concentration of Credit risk

(1)
Major customers

For the six
months ended September 30, 2024, customers A, C, and F are accounted for approximately 18%, 15%, and 18% of the Company’s total
revenue, respectively. For the six months ended September 30, 2023, customers A, C, and F are accounted for approximately 13%, 14%,
and 10% of the Company’s total revenue, respectively.

As of September 30,
2024, customers A and B from the Company’s distribution of console game segment accounted for approximately 25% and 32% of the total
balance of account receivable, respectively. As of March 31, 2024, customers A and B from the Company’s distribution of console
game segment accounted for approximately 42% and 14% of the total balance of account receivable, respectively.

<div align='center'>F-90

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

(2)
Major vendors

For the six
months ended September 30, 2024, three vendors a, b and e are accounted for approximately 45%, 16% and 16% of the Company’s
total cost of goods sold, respectively. For the six months ended September 30, 2023, four vendors a, b, c and d are accounted for
approximately 38%, 16% 12% and 10% of the Company’s total cost of goods sold, respectively.

As of September 30,
2024, vendors a, b and e accounted for approximately 25%, 38% and 31% of the Company’s total balance of accounts payable, respectively.
As of March 31, 2024, vendors a, h and f accounted for approximately 29%, 12%, and 10% of the Company’s total balance of accounts
payable, respectively.

(