Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 225

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 225
---
──────────────────────────────────────────
  Parent company                                                                                                                                                                           
  Globavend Holdings Limited        May, 2023            Cayman Islands              100      Investment holding company                                                                   
  Wholly-owned subsidiaries                                                                                                                                                                
  Globavend Associates Limited      May, 2023            British Virgin Islands      100      Intermediate holding company                                                                 
  Globavend (HK) Limited            June, 2016           Hong Kong                   100      Provision of integrated cross-border logistics services and air freight forwarding services  
  Globavend Warehouse Limited       September, 2024      Hong Kong                   100      Dormant company                                                                              

NOTE 2 - SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES

Reorganization

On
May 22, 2023, Globavend Holdings Limited (“ Globavend Holdings” or the “ Company”) was incorporated in the Cayman
Islands having an authorized share capital of US$50,000divided into50,000,000ordinary shares of par value of US$0.001each, and13,125,000ordinary shares were issued to Globavend Investments Limited (“ Globavend Investments”), which is wholly owned by Mr. Wai
Yiu Yau.

Pursuant
to the Company’s reorganization (“ Reorganization”) that took place on May 29, 2023, the former shareholder of Globavend
HK, namely Mr. Wai Yiu Yau transferred all the shares of, inter alia, Globavend HK to Globavend BVI in consideration of Globavend BVI
allotting and issuing 1 share to the Company credited as fully paid.

Following
such share swap, Globavend HK became the Company’s indirectly owned subsidiaries through Globavend BVI, whereas Globavend Investments
Limited became the controlling shareholders of the Company holding100% of the issued share capital of the Company respectively.

The
combination has been treated as a corporate restructuring (“ Reorganization”) of entities under common control and thus the
current capital structure has been retroactively presented in prior periods as if such structure existed at that time and in accordance
with ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which such entities were
under common control. Since all of the subsidiaries were under common control for the entirety of the years ended September 30, 2021,
2022 and 2023, the results of these subsidiaries are included in