Company: GINT
Filing Date: 2025-08-04
Form Type: F-1/A
Source: 0001213900-25-070836
Chunk: 48

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-04
Form: F-1/A
Chunk 48
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 our Class A Ordinary Shares could significantly decline or become worthless. According to the legal opinion issued by Beijing Dacheng Law Offices, LLP (Shenzhen), our PRC counsel, as of the date of this prospectus, based on PRC laws and regulations effective as of the date of this prospectus, the registered public offering of the Company and its subsidiaries in the United States are not subject to the filing procedure of the CSRC, because the Company and its subsidiaries do not meet any of the condition stipulated by the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the Overseas Listing Trial Measures, as we confirm that (i) the Company and its subsidiaries are not registered within mainland China; and (ii) the main aspects of the business activities of the Company and its subsidiaries are not carried out 22 within mainland China, the primary locations of the business operations of the Company and its subsidiaries are not within mainland China, and the majority of the senior management of the Company and its subsidiaries responsible for daily operations are not Chinese citizens or do not have their habitual residence within mainland China. According to the legal opinion issued by Beijing Dacheng Law Offices, LLP (Shenzhen), our PRC counsel, as none of the Company and its subsidiaries has ever carried out business in mainland China, Beijing Dacheng Law Offices, LLP (Shenzhen), our PRC counsel are of the opinion that there are no current PRC laws and regulations (including regulations of the CSRC, the CAC, or any other government entity) in force explicitly requiring that the Company and its subsidiaries obtain permission or approval from PRC authorities to operate business in mainland China, or to issue securities to foreign investors. No permissions or approvals have been applied for by the Company and its subsidiaries or denied by any relevant authority. In the event that (i) the PRC government expanded the categories of industries and companies whose foreign securities offerings are subject to review by the CSRC and that we are required to obtain such permissions or approvals, or (ii) we inadvertently concluded that relevant permissions or approvals were not required or that we did not receive or maintain relevant permissions or approvals required, any action taken by the PRC government could significantly limit or completely hinder our operations in Hong Kong and our ability to offer or continue to offer our Class A Ordinary Shares to investors and could cause the value of such securities to significantly decline or be worthless and even delisting. The delisting of our Class A Ordinary Shares, or the threat of their being delisted, may