Company: GINT
Filing Date: 2025-01-28
Form Type: DRS/A
Source: 0001213900-25-007208
Chunk: 222

Company: Gifts International Holdings Ltd
Filing Date: 2025-01-28
Form: DRS/A
Chunk 222
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 Company entered into a finance lease agreement with a bank to lease a motor vehicle for a period of 60 months, expiry through 2029.

F-18

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED AND
COMBINED FINANCIAL STATEMENTS NOTE 8 — LEASES (CONT.) The components of lease expense were as follows:

|                                     |     | For Six Months ended September 30, 
 2023                               
 HKD                                |         |     | 2024 
 HKD  |         |     | 2024 
 USD  |         |
|:------------------------------------|:----|:-----------------------------------|--------:|:----|:-----|--------:|:----|:-----|--------:|
| Operating lease expense             |     | $                                  | 536,547 |     | $    | 841,912 |     | $    | 108,364 |
| Finance lease expense               |     |                                    |         |     |      |         |     |      |         |
| Amortization of right-of-use assets |     | $                                  |       — |     | $    |  12,483 |     | $    |   1,607 |
| Interest on lease liabilities       |     |                                    |       — |     |      |   2,029 |     |      |     261 |
| Total finance lease expense         |     | $                                  |       — |     | $    |  14,512 |     | $    |   1,868 |

Supplemental balance sheet information related to operating leases was as follows:

|                                               |     |                                     |     | As of     
 March 31, 
 2024      |            |   |     | September 30, 
 2024          |                   |   |     | September 30, 
 2024          |         |
|:----------------------------------------------|:----|:------------------------------------|:----|:----------|-----------:|:--|:----|:--------------|------------------:|:--|:----|:--------------|--------:|
|                                               |     |                                     |     | HKD       |            |   |     | HKD           |                   |   |     | USD           |         |
| Leases                                        |     | Classification on the balance sheet |     |           |            |   |     |