REVENUE AND SEGMENT INFORMATION

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

REVENUE AND SEGMENT INFORMATION

13. REVENUE AND SEGMENT INFORMATION

The Company follows FASB ASC Topic 280, Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial information is available and which operating results are regularly reviewed by the chief operating decision maker (“CODM”), Mr. Ching Shun Ngan, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance.

Based on the management’s assessment, the Company determined that it has only one operating segment which is the provision of forwarding services and therefore one reportable segment as defined by ASC 280. During the years ended September 30, 2024 and 2023, 100% of the Company’s long-lived assets were located in Hong Kong. For the years ended September 30, 2024 and 2023, revenue and assets within Hong Kong contributed over 90% of the Company’s total revenue and assets. The single segment represents the Company’s core business of providing (i) air freight forwarding services; (ii) ocean freight forwarding services; and (iii) other services to its customers in Hong Kong. Our other services include warehousing and distribution, X-ray, gate charge and palletization.

The following table presents revenue by major revenue type for the years ended September 30, 2022, 2023 and 2024, respectively:

	For the year ended September 30,
	2022		2023		2024
	US$		US$		US$
Air freight forwarding services		72,562,276		33,236,407		48,010,322
Ocean freight forwarding services		788,427		378,039		898,709
Other services		1,835,426		2,459,558		3,267,078
Total		75,186,129		36,074,004		52,176,109

The following table presents revenue by timing of revenue recognition for the years ended September 30, 2022, 2023 and 2024, respectively:

	For the year ended September 30,
	2022		2023		2024
	US$		US$		US$
Timing of Revenue Recognition
Services transferred over time		74,467,097		33,880,177		49,045,423
Services transferred at a point in time		719,032		2,193,827		3,130,686
Total		75,186,129		36,074,004		52,176,109