Company: GINT
Filing Date: 2025-10-15
Form Type: F-1/A
Source: 0001213900-25-099087
Chunk: 227

Company: Gifts International Holdings Ltd
Filing Date: 2025-10-15
Form: F-1/A
Chunk 227
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 and Long Service Payment Employment Ordinance of the Laws of Hong Kong requires employers to assure the liability of severance payment if an employee who has been working for the employer for not less than 24 months under a continuous contract is, due to redundancy, dismissed, laid off, or upon expiry of a fixed -termemployment contract. The ordinance also requires employers to assure the liability of long service payment if an employee who has been working for the employer for not less than 5 years under a continuous contract is dismissed, dies, resigns on ground of ill health or on or after 65 years old, or upon expiry of a fixed -termemployment contract. As of March 31, 2024 and 2025, the Company has estimated its long service payment to be HK$62,495 and HK$101,831 (US$13,089), respectively. The provision for long service payment as of March 31, 2024 and 2025 has been reflected in the consolidated and combined balance sheets as “other long -termliabilities” under long -termliabilities. No severance payment is provided since the Company has no plan to dismiss any staff due to redundancy, and therefore considers the possibility of meeting the criteria of making severance payment is remote. Apart from the commitments and contingencies detailed above and elsewhere in these accompanying consolidated and combined financial statements, as of March 31, 2025, the Company did not have any significant commitments or contingencies involved. NOTE 16 — SUBSEQUENT EVENTS In accordance with ASC Topic 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued, the Company has evaluated all events or transactions that occurred after March 31, 2025, up to the date that the audited financial statements were available to be issued. The Company had no material recognizable subsequent events since March 31, 2025, except as noted below: On May 13, 2025, the Company obtained an additional bank borrowing of HK$1,000,000 (US$128,536), which bears interest at the rate of 7.25% per annum and is repayable in 5 years, with a monthly instalment of HK$19,919 (US$2,560). F-27 1,500,000 CLASS A ORDINARY SHARES Gifts International Holdings Limited ______________________________ PRELIMINARY PROSPECTUS OCTOBER 15 , 202