Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 111

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 111
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 ranging from 2.76 to 3.63% per annum. As of September 30, 2024, our current assets were approximately HK$13.8 million, and our current liabilities were approximately HK$14.3 million. Current ratio decreased from approximately 1.3 times in FY2024 to 1.0 times in 6M2024. As of March31, 2024, we had cash and cash equivalents of HK$8.6 million (US$1.1 million) and outstanding bank borrowings of HK$7.3 million (US$0.9 million). The bank borrowings bore an annual effective interest rate ranging from 2.76 to 3.63% per annum. As of March 31, 2024, our current assets were approximately HK$12.7 million, and our current liabilities were approximately HK$9.7 million. As of March 31, 2023, our current assets were approximately HK$9.0 million, and our current liabilities were approximately HK$9.0 million. Current ratio improved from approximately 1.0 times in FY2023 to 1.3 times in FY2024. In view of the current cash and bank balances, funds generated by operating activities and the bank borrowings, we believe our Company has sufficient resources to meet the working capital needs in the next 12 months from the date the audited financial statements are issued. However, our ability to meet the liquidity and capital requirement will be subject to future economic conditions and other factors which are beyond our control. We currently intend to retain most, if not all, of our available funds and any future earnings to fund the operation, development, and growth of our business, and, as a result, we do not expect to pay any dividends in the foreseeable future. Consequently, we cannot give any assurance that any dividends may be declared and paid in the future. 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. 63

We intend to use the net proceeds from this offering in the following manner: •approximately [25]% for [marketing and customer acquisition, including brand awareness campaigns, customer loyalty programs and international expansion]; •approximately [25]% for [development of technology and platform enhancement artificial intelligence