Company: GINT
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001213900-25-065552
Chunk: 117

Company: Gifts International Holdings Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 117
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 acting as the principal or an agent to the transaction. This evaluation determined that the Company is in control of establishing the transaction price, managing all aspects of the shipment term, and taking the risk of loss for delivery, collection, and returns. Based on the Company’s evaluation of the control model, it is determined that all the Company’s major businesses act as the principal rather than the agent within their revenue arrangements and such revenues are reported on a gross basis. 64 Cost of Revenues Cost of revenues consists primarily of the cost of floral and non -floralmerchandise sold from inventory or through third parties, bouquet fulfillment costs, and the cost associated with wrapping and packaging. Sales and Marketing Costs Marketing and sales expense consists primarily of advertising expenses, online portal and e -catalogexpenses and customer service center expenses, as well as the operating expenses of the Company’s departments engaged in marketing, selling and merchandising activities. Technology and Development Technology and development expense consists primarily of payroll and operating expenses of the Company’s information technology group, costs associated with its websites, including hosting, content development and maintenance and support costs related to the Company’s order entry, customer service, fulfillment and database systems. Costs associated with repair maintenance, or the development of website content are expensed as incurred. Segment Reporting ASC Topic 280, Segment Reporting(“ASC 280”), establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments. In accordance with ASU No. 2023 -07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures, the Company considered whether additional disclosures were required, including significant segment expenses and measures used by the chief operating decision maker (“CODM”). However, the CODM evaluates the Company’s performance based solely on consolidated financial results, and no additional measures or expense categories are used for internal decision -making. For the years ended March31, 2024 and 2025, the Company operates and manages its business as one single business segment, in accordance with ASC 280. The Company’s CODM is the Chief Executive Officer. The Company’s CODM assesses the Company’s performance and results of operations on a consolidated basis. The Company substantially generates its revenues from customers in Hong Kong. Accordingly, no geographical segments are presented. Substantially, all of the Company’s long -livedassets are located in Hong Kong. Pension Costs Contributions to