Company: GINT
Filing Date: 2025-05-19
Form Type: DRS/A
Source: 0001213900-25-045183
Chunk: 250

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-19
Form: DRS/A
Chunk 250
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 |
| Less: accumulated depreciation |     |                 | (1,347,157 | ) |     |      | (1,412,875 | ) |     |      | (181,137 | ) |
| Plant and equipment, net       |     | $               |    158,397 |   |     | $    |    166,675 |   |     | $    |   21,369 |   |

Depreciation expense for the years ended March 31, 2023 and 2024 were HK$87,648 and HK$65,718 (US$8,425), respectively. NOTE 6 — BANK BORROWINGS Bank borrowings comprised of the followings:

| Bank borrowings, secured: 
 2023                      |     | Maturity date     | 2024 | Interest 
 rate     
 (p.a.)   |     | As of March 31, 
 2024            
 HKD             |           |     | HKD |           |     | USD |         |
|:--------------------------|:----|:------------------|:-----|:---------|:----|:----------------|----------:|:----|:----|----------:|:----|:----|--------:|
| HSBC Loan: HK$5.0 million |     | March 2, 2029     |      | 3.63%    |     | $               | 2,536,287 |     | $   | 1,682,844 |     | $   | 215,749 |
| HSBC Loan: HK$4.0 million |     | May 23, 2028      |      | 3.63%    |     |                 | 3,486,501 |     |     | 2,860,605 |     |     | 366,744 |
| HSBC Loan: HK$2.5 million |     | February 19, 2029 |      | 2.76%    |     |                 |         — |     |     | 2,764,013 |     |     | 354,361 |
|                           |     |                   |      |          |     | $               | 6,022,788 |     | $   | 7,307,463 |     | $   | 936,854 |

The Company obtained certain loans from financial institutions in Hong Kong, in the aggregate principal amount of up to