Creative Global Technology Holdings Ltd (NASDAQ: CGTL)

Creative Global Technology Holdings Limited is engaged in the business of recycled consumer electronic devices. The company sources pre owned smartphones tablets and laptops from suppliers in the United States Japan and other developed countries. It distributes these devices to wholesalers in Southeast Asia and also operates a retail and rental business for consumers in Hong Kong.

The company generates revenue primarily from the sale of pre owned consumer electronic devices. Its wholesale segment sells devices to resellers in Southeast Asia who then refurbish or resell them. The retail segment sells directly to individual consumers in Hong Kong through its online platform and physical storage location. The rental segment leases laptops and other devices to local customers for short term use. Revenue is derived from product sales and rental fees based on device condition and grade.

The company operates through the following segments:

• The wholesale segment sources pre owned devices from suppliers in the United States Japan and Europe inspects and grades them into five categories and sells them to wholesalers in Southeast Asia who handle further distribution.

• The retail segment offers pre owned smartphones tablets and laptops for sale to individual consumers in Hong Kong via its website and storage facility where customers can inspect and purchase devices.

• The rental segment provides pre owned laptops and other electronic devices for lease to customers in Hong Kong who inspect the devices pay a deposit and return the equipment at the end of the lease term.

Creative Global Technology Holdings Limited operates in a competitive and fragmented recycled consumer electronic devices market in Hong Kong where around one thousand wholesalers source grade refurbish and resell pre owned devices. Key competitors include Guang Yi Co Ltd Brightway Trading Co and CommNet Telecom Limited. The company differentiates itself through a proven sourcing and supply network a one stop wholesale solution fast response times an established client base a proprietary pricing database and algorithm a rigorous testing and grading system an experienced management team economies of scale and its strategic location in Hong Kong which offers duty free status and logistics advantages.

The company’s wholesale revenue is concentrated among a few major customers including Customer A Customer B and Customer C which together accounted for a significant portion of total sales. For the years ended September 30 2025 2024 and 2023 the largest wholesale customers were Customer A Customer B and Customer C representing 34.7% 43.4% and 11.4% of revenue respectively. The five major wholesale customers represented 88.6% 84.5% and 41.8% of total revenue in those same years. Retail and rental activities serve individual consumers in Hong Kong making up the remaining fraction of revenue.