Company: GINT
Filing Date: 2025-03-12
Form Type: DRS/A
Source: 0001213900-25-022887
Chunk: 10

Company: Gifts International Holdings Ltd
Filing Date: 2025-03-12
Form: DRS/A
Chunk 10
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 activities in the securities market, enhancing supervision over China -based companies listed overseas using VIE structure, adopting new measures to extend the scope of cybersecurity reviews, expanding the efforts in anti -monopoly enforcement and regulating the overseas offering and listing activities involving PRC domestic companies. Since these statements and regulatory actions are new, it is uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also uncertain what the potential impact such modified or new laws and regulations will have on our daily business operation in Hong Kong, our ability to accept foreign investments and the listing of our Class A Ordinary Shares on a U.S. or other foreign exchanges. We are subject to certain legal and operational risks associated with our operations in Hong Kong. Additionally, the legal and operational risks associated in mainland China also apply to our operations in Hong Kong. Macau Give Gift Boutique Company Limited (“MGGB”), a Macau company wholly owned by Mr. Ngai Chiu Wong, is acting as an operating unit to collect the sales receipts on behalf of the Company and is deemed as a VIE. Macau is a Special Administrative Region of the People’s Republic of China with its own legal system, which poses unique risks to our investors. We are subject to certain legal and operational risks associated with the operation of MGGB in Macau. Additionally, the legal and operational risks associated in mainland China also apply to the operation of MGGB in Macau. If there is a significant change to current political and legal arrangements in Macau, or between China and Macau, companies operated in Macau may face the same or similar regulatory risks as those faced by companies operated in the PRC, such as risks relating to the ability to offer securities to investors, list securities on a U.S. or other foreign exchange, or accept foreign investment. According to the legal opinion issued by STA Advogados, our Macau counsel, according to Article 18, paragraphs 2 to 4 of the Basic Law of Macau, the Central People’s Government has the authority to apply national laws to Macau. While Macau currently operates under a different set of laws from mainland China, there can be no assurance as to whether the government of Macau will enact laws and regulations similar to mainland China, or whether any laws or regulations of mainland China will become applicable to our operations in Macau in the future, which could happen at any time and with no advance notice.