Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 239

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 239
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, as necessary. The Company’s historical
tax years will remain open for examination by the local authorities until the statute of limitations has passed.

Earnings per share

The Company calculates earnings per share
in accordance with ASC Topic 260 “ Earnings per Share.” Basic earnings per share is computed by dividing the net income by
the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed similar to basic earnings
per share except that the denominator is increased to include the number of additional common shares that would have been outstanding
if the potential ordinary shares equivalents had been issued and if the additional common shares were dilutive. As of September 30, 2022,
2023 and 2024, there were no dilution impact.

Commitments and Contingencies

In the normal course of business, the
Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters.
Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can
be reasonably estimated.

If the assessment of a contingency indicates
that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is
accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not
probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with
an estimate of the range of possible loss, if determinable and material, would be disclosed.

Loss contingencies considered remote
are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

As of September 30, 2023 and 2024, the
Company had a banking facility arrangement for a bank guarantee line with maximum amount of HK$1,040,000and HK$1,040,000, respectively,
which guaranteed by Mr. Wai Yiu Yau, the director of the Company, and secured by bank deposit from time to time in the bank’s
favor. There was no outstanding principal or pledged bank deposit as at September 30, 2024.

Segment Reporting

ASC 280, “ Segment Reporting”,
establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational
structure as well as information about geographical areas, business segments and major customers in financial statements for detailing
the