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Organization and Business Background
 12 Months Ended
Sep. 30, 2024
Organization and Business Background [Abstract]  
Organization and Business Background

(1) Organization and Business Background

 

On January 11, 2023, CREATIVE GLOBAL TECHNOLOGY HOLDINGS LIMITED (the “Company” or the “Group”) was incorporated in the Cayman Islands, as an exempted company and is an investment holding company. The Company is headquartered and has operations in Hong Kong. The Company is primarily engaged in sourcing and reselling recycled consumer electronic devices through CGTHK, the Hong Kong entity conducting substantially all of our business operations. CGTHK has been sourcing pre-owned consumer electronic devices (mainly smartphones, tablets, and laptops) from suppliers in the U.S., Japan, and some other developed countries, and our customers subsequently sell these goods to Southeast Asia and other regions.

 

Name  Date of
Incorporation or
Establishment		  Place of
Incorporation or
Establishment		  Percentage of
Ownership		   Principal
Activity
Subsidiary:             
Creative Global Technology (BVI) Limited  January 12, 2023  British Virgin Islands   100%  Investment holding
Creative Global Technology Limited  May 17, 2016  Hong Kong   100%  Trading

 

Group reorganization

 

In March 2023, CGT Holdings completed a reorganization of its corporate structure. CGT Holdings owns 100% equity interest in Creative Global Technology (BVI) Limited (“CGT BVI”), a BVI holding company formed on January 12, 2023. On March 9, 2023, CGT BVI became the 100% owner of CGTHK.

 

The consolidated balance sheets as of September 30, 2024 and 2023 present the assets and liabilities of the aforementioned companies now comprising the Group as if the current group structure had been in existence at those dates based on the same control aforementioned. The Company eliminates all significant intercompany balances and transactions in its consolidated financial statements (the “CFS”).

 

The movement in the Company’s authorized share capital and the number of ordinary shares outstanding and issued by the Company is also detailed in Notes 10 and 15.