Company: GINT
Filing Date: 2025-08-15
Form Type: F-1/A
Source: 0001213900-25-077286
Chunk: 204

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-15
Form: F-1/A
Chunk 204
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 generally occurs upon shipment. Payment is typically due, prior to the date of shipment. Deferred revenue is recorded when the Company has received consideration (i.e., advance payment) before satisfying its performance obligations. As such, customer orders are recorded as deferred revenue prior to shipment or rendering of product or services. Deferred revenue primarily relates to e -commerceorders placed, but not shipped, prior to the end of the fiscal period. Deferred revenue as of March 31, 2024 was HK$159,957, of which, HK$159,957 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,