Company: GINT
Filing Date: 2025-06-06
Form Type: F-1
Source: 0001213900-25-052213
Chunk: 19

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-06
Form: F-1
Chunk 19
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 in any future 3 financing instruments. Save as aforementioned, during the years ended March31, 2023 and 2024, six months ended September30, 2024 and up to the date of this prospectus, there have been (i) no cash flows and transfers of other assets between Gifts International and our subsidiaries; (ii) no dividend payment or distribution made from Broaden Leisure to Gifts International and GGBB; and (iii) no solid plans for Broaden Leisure to make any distribution or dividend payment to Gifts International and GGBB upon listing. Save as aforementioned, neither the Gifts International nor Broaden Leisure has made any dividends or distributions to U.S. investors as of the date of this prospectus. British Virgin Islands.Subject to the BVI Act and our Amended Memorandum and Articles, our board of directors may authorize and declare a dividend to shareholders at such time and of such an amount as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend the value of our assets will exceed our liabilities and we will be able to pay our debts as they become due. There is no further BVI statutory restriction on the amount of funds which may be distributed by us by dividend. Hong Kong.Under Hong Kong law, a Hong Kong company may only make a distribution out of profits available for distribution. There are no restrictions or limitations under the laws of Hong Kong imposed on the conversion of HKdollars into foreign currencies and the remittance of currencies out of Hong Kong, nor is there any restriction on foreign exchange to transfer cash between the Company and its subsidiaries, across borders and to U.S. investors, nor are there any restrictions or limitations on distributing earnings from our business and subsidiaries to the Company and U.S. investors. Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by us. The PRC laws and regulations do not currently have any material impact on transfers of cash from Gifts International to our subsidiaries or from our subsidiaries to Gifts International, our shareholders and U.S. investors. However, the Chinese government may, in the future, impose restrictions or limitations on our ability to transfer money out of Hong Kong, to distribute earnings and pay dividends to and from the other entities within our organization, or to reinvest in our business outside of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business to outside of Hong Kong and may affect our ability to receive