Company: GINT
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001213900-25-079257
Chunk: 135

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-21
Form: F-1/A
Chunk 135
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 infrastructures are highly dependent on a patchwork of open -sourcecodes, which can introduce flaws to the cloud systems. Market consolidation With the gradual expansion of the e -commerceindustry in Hong Kong, large -scalemarket participants are expected to capture a larger market share due to their capabilities to provide integrated one -stopservices, establish relationships with suppliers and develop customer loyalty and reputation, whereas small -scalecompanies may be driven out of the market due to their limited technological and operational capability and low bargaining power. Further, consumers in this industry often prefer and refer to large -scaleand notable market participants, which further favor market consolidation for large -scalecompanies. Players in this industry have been seeking horizontal and vertical business expansions, so as to diversify their revenue streams. Such integration would strengthen the market positions of sizable players as well as lowering operational and management costs. Accordingly, the industry is expected to be more consolidated in the next several years 78 BUSINESS SECTION 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 REGULATIONS This section sets forth a summary of the most significant rules and regulations that affect our business in Hong Kong. Laws and Regulations in Hong Kong Business Registration Business Registration Ordinance The Business Registration Ordinance (Chapter 310 of the Laws of Hong Kong) requires every entity which carries on a business in Hong Kong to apply for business registration and to display the valid business registration certificate at the place of business. Any person who fails to apply for business registration or display a valid business registration certificate at the place of business shall be guilty of an offence and shall be liable to a fine of HK$5,000 and imprisonment for one year. Broaden Leisure has obtained a valid business registration certificate and it has not been refused by the Inland Revenue Department for its applications for renewal of the business registration certificate. Import and Export Import and Export (Registration) Regulations Regulations 4 and 5 of the Import and Export (Registration) Regulations (Chapter 60E of the Laws of Hong Kong) (the “IAE Registration Regulations”) provide that every person who imports or exports any article other than an exempted article shall lodge an accurate and complete import or export declaration relating to such article using services provided by a specific body with the Commissioner of Customs and Excise within 14 days after the importation or exportation of the article. Any person failing to declare within 14 days after the importation or exportation of the article without reasonable excuse is