Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 108

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 108
---
278 |     | 100.0 |

Our cost of revenues decreased by approximately HK$9.7 million, or 16.1% in FY2024 as compared with FY2023. The decrease in cost of revenues was mainly due to (i) drop in number of sales orders whilst the average value per sales orders has risen and (ii) decrease in cost associated with wrapping and packaging. Gross profit Our total gross profit increased by approximately HK$3.8 million, or 14.1%, from HK$27.1 million for the year ended March 31, 2023 to HK$31.0 million (US$4.0 million) for the year ended March 31, 2024. Gross profit margin increased from approximately 31.0% in FY2023 and 38.0% in FY2024. The increase in gross profit margin in FY2024 was mainly attributable to the combing effect of the increase in average price per sales orders and a decrease in cost associated with wrapping and packaging.

61

Operating expenses Our operating expenses consist of (i) shipping and handling costs; (ii) sales and marketing costs; (iii) technology and development costs; (iv) personnel and benefit costs; and (v) general and administrative costs. The table below sets out our operating expenses for the periods indicated.

|                                  |     | For the year ended March 31, 
                         2023 |     |       |     |       2024 |     |       |
|:---------------------------------|:----|-----------------------------:|:----|------:|:----|-----------:|:----|------:|
|                                  |     |                          HKD |     |     % |     |        HKD |     |     % |
| Shipping and handling costs      |     |                    4,947,588 |     |  20.6 |     |  4,550,399 |     |  19.4 |
| Sales and marketing costs        |     |                    7,710,520 |     |  32.2 |     |  8,434,263 |     |  36.0 |
| Technology and development costs |     |                      866,645 |     |   3.6 |     |    600,000 |     |   2.6 |
| Personnel and benefit costs      |     |                    7,270,010 |     |  30.4