Company: GINT
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001213900-25-079257
Chunk: 107

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-21
Form: F-1/A
Chunk 107
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 public offering. Other (expense) income, net Interest income For FY2024 and FY2025, we received interest income of HK$30,454 and HK$14,391 (US$1,850), respectively. Interest expense Our interest expense mainly comprised interest expense on bank borrowings. The interest expense remained relatively stable at HK$0.2 million and HK$0.3 million (US$34,744) for FY2024 and FY2025 respectively. Income tax expense We are subject to income tax on an entity basis on profit arising in or derived from the jurisdiction in which the Company and its subsidiaries domicile or operate. Income tax expense is mainly the Hong Kong income tax. Our income tax expense remained relatively stable at approximately HK$1.0 million and HK$1.1million (US$140,911) for FY2024 and FY2025, respectively. Net income We recorded net income of HK$5.9million (US$0.8 million) for FY2025, as compared to net income of HK$6.3million for FY2024. Such decrease was mainly attributable to the increase in general and administrative costs as described above. Liquidity and Capital Resources We have financed our operations primarily through cash flows from operations and loans from banks, if necessary. As of March31, 2025, we had cash and cash equivalents of HK$2.3million (US$0.3million) and outstanding bank borrowings of HK$5.8million (US$0.7million). The bank borrowings bore an annual effective interest rate ranging from 2.76% to 3.00% per annum. Our accounts receivable increased from approximately HK$1.2million as of March31, 2024 to approximately HK$8.4million (US$1.1million) as of March31, 2025, which was mainly attributable to bulk sales of products to corporate clients under the credit terms of up to 90 days. As of the date of this prospectus, we collected approximately 58

99.1% of our accounts receivable as of March31, 2025. Our accounts payable increased from approximately HK$0.6million as of March31, 2024 to approximately HK$4.8million (US$0.6million) as of March31, 2025. This increase was mainly attributable to a higher volume of sale orders from corporate clients, and those purchases made under the extend payment