Company: GINT
Filing Date: 2025-08-04
Form Type: F-1/A
Source: 0001213900-25-070836
Chunk: 64

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-04
Form: F-1/A
Chunk 64
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 lessening competition in Hong Kong. The Competition Commission is a statutory body in Hong Kong established to investigate any contravention against and enforce on the provisions of the Competition Ordinance, and the Competition Tribunal is a tribunal set up under the Competition Ordinance, as part of Hong Kong judiciary, to hear and decide cases connected with competition law in Hong Kong. Under the guidelines and policies published by the Competition Commission, possible outcomes of investigation of contravention of the Competition Ordinance may include the acceptance of commitment given by infringer, the issuing of warning notice or infringement notice, commencement of proceedings in the Competition Tribunal, applying for consent order, referral of complaint to a government agency and the conduct of a market study. The Competition Tribunal may order remedies including pecuniary penalty, disqualification or other order under the Competition Ordinance. The guidelines and policies published by the Competition Commission in Hong Kong did not mention any remedies which may impact on the Company’s ability to accept foreign investment or list on a U.S./foreign exchange as a result of the non -complianceof the Competition Ordinance. 30 The Company confirms we have not adopted any anti -competitiveconduct described in the Competition Ordinance and will continue to act in compliance with the Competition Ordinance. However, there may be uncertainties on the full effect of the rules in respect of compliance, infringement, and its effect on our business in particular when tendering is involved in securing contracts. We may face difficulties and may need to incur legal costs in ensuring our compliance with the rules. If we face any complaints of infringement of the Competition Ordinance, we may incur substantial legal costs and may result in business disruption and/or negative media coverage, which could adversely affect our business, results of operations and reputation. We are subject to Macau laws and regulations that are generally applicable to Macau entities, including Macau laws and regulations that result in oversight over data security. MGGB, a Macau company wholly owned by Mr.Ngai Chiu Wong, is acting as an operating unit to collect the sales receipts on behalf of the Company and is deemed as a VIE. MGGB, as a Macau registered entity, is subject to Macau laws generally applicable to Macau entities. We believe MGGB is compliant with the laws and regulations governing its existence and operations in Macau, including without limitation, laws and regulations relating to data security and anti -monopoly, According to the legal opinion issued by STA Advogados, our Macau counsel, the regulatory requirements related to data security in Mac