Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 115

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 115
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 -cashlease expense; and (ii) net decrease in working capital of HK$2.1 million mainly attributable to cash outflow arising from (i) increase in lease liabilities of HK$1.1 million; (ii) decrease in inventories of HK$0.8 million; and (iii) decrease in accounts receivable of HK$0.6 million, which were offset by cash inflow arising from decrease in income tax payable of HK$0.6 million. In FY2023, our net cash provided by operating activities was HK$5.5 million, which primarily reflected cash inflow from our net income of HK$3.7 million adjusted for (i) net non -cashexpense of HK$1.1 million, which represents depreciation of plant and equipment and non -cashlease expense; and (ii) net increase in working capital of HK$0.6 million mainly attributable to cash inflow arising from increase in accounts receivable of HK$2.5 million, which were offset by cash outflow arising from (i) increase in lease liabilities of HK$1.1 million; and (ii) increase in deferred revenue of HK$0.6 million.

65

Cash used in investing activities Net cash used in investing activities for the year ended March 31, 2024 and 2023 were HK$73,996 (US$9,487) and HK$0.1 million respectively, which represent cash payment for purchase of plant and equipment. Cash used in financing activities For the year ended March 31, 2024, net cash used in financing activities was HK$2.4 million (US$0.3 million), mainly consisted of (i) repayment to a shareholder of HK$3.7 million; and (ii) repayment to bank borrowings of HK$1.5 million, which are offset by proceed from bank borrowings of HK$2.5 million. For the year ended March 31, 2023, net cash used in financing activities was HK$1.6 million, mainly consisted of (i) repayment to a shareholder of HK$4.5 million; and (ii) repayment to bank borrowings of HK$3.0 million, which are offset by proceed from bank borrowings of HK$4.0 million. Off-Balance Sheet Arrangements We had not entered any material off -balancesheet transactions and arrangements during the six months ended September30, 2024 and 2023, and the years