Welcome to our dedicated page for Globavend Holdings news (Ticker: GVH), a resource for investors and traders seeking the latest updates and insights on Globavend Holdings stock.
Globavend Holdings Ltd (GVH) specializes in cross-border e-commerce logistics between Hong Kong and Australasian markets. This page serves as the definitive source for official company announcements, operational updates, and strategic developments.
Investors and supply chain professionals will find curated news about freight forwarding innovations, regulatory compliance achievements, and partnership announcements. Our coverage includes earnings reports, logistics network expansions, and management commentary – all essential for understanding GVH's position in competitive international trade markets.
Key updates focus on parcel consolidation efficiency improvements, air freight capacity enhancements, and customs processing advancements. Bookmark this page for real-time insights into how Globavend addresses evolving e-commerce demands through integrated logistics solutions.
Globavend Holdings (Nasdaq: GVH) has received a second grace period from Nasdaq to meet the minimum bid price requirement of $1.00 for continued listing on the Nasdaq Capital Market. The company now has until August 11, 2025, to regain compliance.
If Globavend fails to meet this requirement by the deadline, Nasdaq will issue a delisting determination, though the company will have the option to appeal to a Nasdaq hearings panel. The company is monitoring its share price and considering potential solutions, including a possible reverse stock split, to maintain its listing status.
Globavend (NASDAQ: GVH), an e-commerce logistics services provider, has announced its fiscal year 2024 financial results, highlighting significant growth in key metrics. The company reported a 24% year-over-year increase in net income, reaching $1.34 million. Other notable financial achievements include a 13% growth in earnings per share to $0.09 and revenue of $16.5 million with a gross profit margin of 14.6%.
CEO Frank Yau attributed the strong performance to the team's dedication and the company's ability to adapt to market conditions, emphasizing their commitment to delivering value to customers and stakeholders.
Globavend Holdings (NASDAQ: GVH), an e-commerce logistics services provider, has announced its unaudited financial results for the first half of 2024. Despite a 10.8% decrease in revenue to US$8.4 million, the company reported significant growth in other areas:
- Gross profit increased by 131.7% to US$1.7 million
- Net income rose by 99.4% to US$0.9 million
- Basic and diluted EPS doubled from US$0.03 to US$0.06 per ordinary share
The company attributes these improvements to strategic initiatives, lower freight costs, and higher sales unit prices. However, the revenue decline was due to higher average sales prices leading to decreased sales volume. General and administrative expenses increased by 85.6% to US$0.5 million, mainly due to increased travel expenses, audit fees, and legal costs.
Globavend Holdings (Nasdaq: GVH), an emerging e-commerce logistics provider, has received a notice from Nasdaq indicating non-compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company has until February 12, 2025, to regain compliance by having its closing bid price meet or exceed $1.00 per ordinary share for at least ten consecutive business days.
The notice does not immediately affect GVH's listing, and its ordinary shares will continue to trade under the symbol 'GVH'. Globavend intends to monitor the situation and may consider implementing options to regain compliance, including a potential reverse stock split.
Globavend Holdings (Nasdaq: GVH) has announced the inclusion of New Zealand Post (NZ Post) as a last-mile delivery supplier in New Zealand. In May 2024, NZ Post commenced its first trial shipment for Globavend, marking the start of this partnership. CEO Wai Yiu Yau expressed confidence in NZ Post's extensive experience enhancing Globavend's last-mile delivery capabilities. The integration of their shipment management systems allows for parcel tracking and aims to improve delivery efficiency and reliability for customers in Australia and New Zealand.
Globavend Holdings (GVH) has announced a non-binding Memorandum of Understanding (MOU) to acquire Top Logistics, a prominent logistics solutions provider in Australia. The acquisition is part of Globavend's strategy to expand its presence in the Australian market. Top Logistics, headquartered in Sydney, operates warehouses in Sydney, Melbourne, and Brisbane, covering over 15,000 square meters. It offers comprehensive logistics services including sea & air freight, customs clearance, and warehousing. CEO Wai Yiu Yau highlighted the alignment of this acquisition with Globavend's growth strategy, citing the robust Australian e-commerce market where online shopping reached AUD63.6 billion (US$42.4 billion) in 2023.
