Company: GINT
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001213900-25-044839
Chunk: 110

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 110
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 Sales and marketing costs consist primarily of (i) advertising expenses; (ii) online portal and e -catalogexpenses; (iii) customer service center expenses; and (iv) operating expenses of our departments engaged in marketing, selling and merchandising activities. The increase in sales and marketing costs was mainly attributable to the increase in advertising expenses of approximately HK$1.08million for the year ended March 31, 2024. Technology and development costs Technology and development costs consist primarily of (i) outsourced support and operating expenses of our information technology group; (ii) costs associated with our websites, including hosting, content development and maintenance and support costs related to order entry, customer service, fulfillment and database systems; and (iii) costs associated with repair maintenance, or the development of website content are expensed as incurred. The technology and development costs decreased from HK$0.9 million for the year ended March 31, 2023 to HK$0.6 million (US$0.1 million) for the year ended March 31, 2024. Such slight decrease was mainly attributable to expenses in relation to the development of a new website for the year ended March 31, 2023. Personnel and benefit costs Personnel and benefit costs consist primarily of salaries and benefits for our operating staff. The personnel and benefit costs were HK$7.3 million and HK$6.6 million (US$0.6 million) for the years ended March 31, 2023 and 2024 respectively. The decrease in personnel and benefit costs was due to the internal costs control measures aimed at reducing the number of part -timeoperating staff. General and administrative costs General and administrative costs consist primarily of (i) salaries and benefits for our general and administrative staff; (ii) retirement plan costs; and (iii) other expenses primarily including general office expenses. The general and administrative costs remained relatively stable at HK$3.2 million and HK$3.2 million (US$0.4 million) for the years ended March 31, 2023 and 2024 respectively.

62 Other (expense) income, net Government subsidies For the years ended March 31, 2023 and 2024, we received aggregated government subsidies of HK$1.0 million and HK$0 (US$0), respectively from government grants in Hong Kong. Interest expense Our interest expense mainly comprised interest expense on bank borrowings. The interest expense remained relatively stable at HK$0.2 million and