Company: GINT
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001213900-25-079257
Chunk: 205

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-21
Form: F-1/A
Chunk 205
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957 was recognized as revenue during the year ended March 31, 2025. The deferred revenue balance as of March 31, 2025 was HK$282,683 (US$36,335). Principal vs Agent Considerations When another party is involved in providing goods to the customer, the Company will apply the principal versus agent guidance in ASC 606 to determine if the Company is acting as the principal or an agent to the transaction. This evaluation determined that the Company is in control of establishing the transaction price, managing all aspects of the shipment term, and taking the risk of loss for delivery, collection, and returns. Based on the Company’s evaluation of the control model, it is determined that all the Company’s major businesses act as the principal rather than the agent within their revenue arrangements and such revenues are reported on a gross basis. Disaggregation of Revenue The Company has disaggregated its revenue from contracts with customers into categories based on the business operation of the revenue as follows:

| Sale of products     
 2024                 |     | Point of           
 recognition        | 2025 | For the years ended March 31, 
 HKD                           |            | 2025 | HKD |            |     | USD |            |
|:---------------------|:----|:-------------------|:-----|:------------------------------|-----------:|:-----|:----|-----------:|:----|:----|-----------:|
| Corporate clients    |     | At a point in time |      | $                             | 54,372,507 |      | $   | 64,761,868 |     | $   |  8,324,254 |
| Individual customers |     | At a point in time |      |                               | 27,180,858 |      |     | 27,063,088 |     |     |  3,478,591 |
|                      |     |                    |      | $                             | 81,553,365 |      | $   | 91,824,956 |     | $   | 11,802,845 |

F-12 GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT.) •Cost of Revenues Cost of revenues consists primarily of the cost of floral and non -floralmerchandise sold from inventory or through third parties, bouquet fulfillment costs