Company: GINT
Filing Date: 2025-03-12
Form Type: DRS/A
Source: 0001213900-25-022887
Chunk: 9

Company: Gifts International Holdings Ltd
Filing Date: 2025-03-12
Form: DRS/A
Chunk 9
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2023 and 2024, our Hong Kong operating subsidiary, Broaden Leisure distributed a dividend of HK$4,200,000 and HK$4,100,000 (US$525,641) by setting off the amount due from a shareholder, Mr. Ngai Chiu Wong. Subsequently, on October 23, 2024, the Company declared and paid the special dividend of HK$1,500,000 (US$193,068) by setting off the amount due from a shareholder, Mr. Ngai Chiu Wong . See “ Note 12 — Related Party Balances and Transactions ” on page F -45 . Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments. Save as aforementioned, during the years ended March 31, 2023 and 2024, six months ended September 30, 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. We may consider paying further dividends in the near future. See “ Prospectus Summary — Transfers of Cash To and From Our Subsidiaries ” on page 3, and “ Dividend Policy ”. Substantially all of our operations are in Hong Kong. However, due to the long arm provisions under the current PRC laws and regulations, the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations, significantly limit or completely hinder our ability to offer or continue to offer our Class A Ordinary Shares to investors and cause the value of our Class A Ordinary Shares to significantly decline or become worthless. We are aware that recently the PRC government initiated a series of regulatory actions and statements to regulate business operations in certain areas in China, including cracking down on illegal