Globavend Receives Government Non-Dilutive Grant Funding Approval
Approval-in-Principle Received For Up To $900,000 in Government Funding to
Directly Support Globavend's Expansion into the China Market
PERTH, AUSTRALIA, April 28, 2025 (GLOBE NEWSWIRE) -- Globavend Holdings Limited (NASDAQ:GVH) (the "Company" or "Globavend"), an emerging e-commerce logistics provider, today announced that it has received approval-in-principle from a Hong Kong government administered business development grant. If approved, eligible companies may receive up to $900,000 non-dilutive grant funding and would be deemed irrevocably earned with no repayment obligations.
The approval-in-principle was given by the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), from the Government of Hong Kong, which was set up to support local businesses in scaling up their operations, modernizing infrastructure, and expanding into new markets. This funding program is to assist Hong Kong enterprise to capture the opportunities arising from China's 12th Five-Year Plan. The Hong Kong Government has injected approximately US$770 million into the BUD Fund.
"The opportunity to quickly expand into the Chinese market marks a significant milestone for Globavend," said Frank Yau, Chief Executive Officer. "We're confident in our eligibility for funding and eager to use it to accelerate our expansion. We've already proven our model in Australia, New Zealand, and Hong Kong," Yau added. "Adding China to that mix is a natural progression. With geopolitical tensions driving demand for alternative routes, Australia is emerging as a key logistics hub. Access to non-dilutive funding from the BUD Fund will help us scale without compromising our capital structure."
About Globavend Holdings Limited
Globavend Holdings Limited, an emerging e-commerce logistics provider, offers end-to-end logistics solutions in Hong Kong, Australia, and New Zealand. The Company primarily serves enterprise customers, including e-commerce merchants and operators of e-commerce platforms, facilitating business-to-consumer (B2C) transactions. As an e-commerce logistics provider, Globavend delivers integrated cross-border logistics services from Hong Kong to Australia and New Zealand. It provides customers with a comprehensive solution, encompassing pre-carriage parcel drop-off, parcel consolidation, air-freight forwarding, customs clearance, on-carriage parcel transportation, and final delivery.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 20-F for the year ended September 30, 2024, which is on file with the SEC and are available on our investor relations website at https://globavend.com/ and on the SEC website at www.sec.gov., as well as the subsequent Current Reports on Form 6-K or other filings with the SEC. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We undertake no duty to update this information unless required by law.
For investor and media inquiries, please contact:
Company Info:
Globavend Holdings Limited
Wai Yiu Yau, Chairman and CEO
[email protected] (61) 8 6141 3263
