Company: GINT
Filing Date: 2025-08-15
Form Type: F-1/A
Source: 0001213900-25-077286
Chunk: 216

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-15
Form: F-1/A
Chunk 216
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 |
| Less: accumulated depreciation |     |                 | (1,412,875 | ) |     |      | (1,270,049 | ) |     |      | (163,247 | ) |
| Plant and equipment, net       |     | $               |    166,675 |   |     | $    |    497,350 |   |     | $    |   63,928 |   |

Depreciation expense for the years ended March 31, 2024 and 2025 were HK$65,718 and HK$146,175 (US$18,789), respectively. Motor vehicle under finance lease was recorded at its net carrying value of HK$0 and HK$301,081 (US$38,700), as of March 31, 2024 and 2025, respectively. NOTE 6 — ACCRUED LIABILITIES AND OTHER PAYABLES Accrued liabilities and other payables consisted of the following:

|                            |     | As of March 31, 
 2024            
 HKD             |         |     | 2025 
 HKD  |           |     | 2025 
 USD  |         |
|:---------------------------|:----|:----------------|--------:|:----|:-----|----------:|:----|:-----|--------:|
| Accrued offering costs     |     | $               |       — |     | $    |   495,491 |     | $    |  63,689 |
| Accrued operating expenses |     |                 | 319,699 |     |      | 1,120,037 |     |      | 143,965 |
| Accrued professional fees  |     |                 | 119,000 |     |      |    42,800 |     |      |   5,501 |
|                            |     | $               | 438,699 |     | $    | 1,658,328 |     | $    | 213,155 |

F-19

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS NOTE 7 — BANK BORROWINGS Bank borrowings comprised of the followings:

| Bank borrowings, secured: 
 2024                      |     | Maturity date     | 2025 | Interest 
     rate 
   (p.a