Company: GINT
Filing Date: 2025-03-12
Form Type: DRS/A
Source: 0001213900-25-022887
Chunk: 253

Company: Gifts International Holdings Ltd
Filing Date: 2025-03-12
Form: DRS/A
Chunk 253
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|:-----|-------:|
| Right-of-use assets, net      |     | $               | 1,472,133 |     | $    | 432,980 |     | $    | 55,510 |
| Lease liabilities:            |     |                 |           |     |      |         |     |      |        |
| Current lease liabilities     |     | $               | 1,041,535 |     | $    | 442,878 |     | $    | 56,779 |
| Non-current lease liabilities |     |                 |   442,878 |     |      |       — |     |      |      — |
| Total lease liabilities       |     | $               | 1,484,413 |     | $    | 442,878 |     | $    | 56,779 |

Operating lease expense for the years ended March 31, 2023 and 2024 were HK$623,000 and HK$1,068,000 (US$136,923), respectively. Other supplemental information about the Company’s operating lease as of March 31, 2023 and 2024:

|                                               |     |       2023 |   |     |       2024 |   |
| Weighted average discount rate                |     |       2.75 | % |     |       2.88 | % |
| Weighted average remaining lease term (years) |     | 1.46 years |   |     | 0.46 years |   |

Operating lease commitments: As of March 31, 2024, the Company has future minimum lease payments of HK$442,878 (US$56,779) due in the next 12 months. NOTE 8 — SHAREHOLDERS’ EQUITY Ordinary Shares The Company was established under the laws of British Virgin Island on April 16, 2024, with authorized to issue one class of ordinary share. Under the completion of the Reorganization, the maximum number of shares the Company authorized to issue was resolved and approved to be increased to 500,000,000 ordinary shares on October3, 2024 (“ Increase”). On October9, 2024, immediately upon the Increase became effective, the Company issued in an aggregate of 99,999 ordinary shares to the current shareholder of the Company at the consideration of US$1. All share numbers and the related amounts have been retroactively restated to reflect this share