Company: GINT
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001213900-25-065552
Chunk: 214

Company: Gifts International Holdings Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 214
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 $               | 1,682,844 |     | $   | 1,368,968 |     | $   | 175,962 |
| Loan : HK$4.0 million     |     | May 23, 2028      |      |     3.00 | % |      |                 | 2,860,605 |     |     | 2,210,335 |     |     | 284,108 |
| Loan : HK$2.5 million     |     | February 19, 2029 |      |     2.76 | % |      |                 | 2,764,013 |     |     | 2,201,842 |     |     | 283,017 |
|                           |     |                   |      |          |   |      | $               | 7,307,463 |     | $   | 5,781,145 |     | $   | 743,087 |

The Company obtained certain loans from one financial institution in Hong Kong, in the aggregate principal amount of up to HK$11.5 million (US$1.48 million), up to March 31, 2025. These loans bear annual interest at the bank prevailing rates ranging from 2.76% to 3.00%. The Company is subject to various financial covenants under certain loan agreements, which include repayment on -demandclause. Hence, all of these bank borrowings are reclassified as “current liabilities”. Interest expense related to the bank borrowings were HK$187,683 and HK$208,620 (US$26,815) for the years ended March 31, 2024 and 2025, respectively.

F-19

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS NOTE 7 — BANK BORROWINGS (CONT.) These banking facilities are guaranteed and secured, details of which are set out as follows:- (a)unlimited personal guaranteed by Mr. Wong, the director of the Company (b)guaranteed by HKMC Insurance Limited under the Hong Kong SME Financing Guarantee Scheme, launched by The Hong Kong Mortgage Corporation Limited As of March 31, 2025, the Company has fully complied with certain financial covenants pursuant to the facility letter issued by the Hongkong and Shanghai Banking Corporation Limited. NOTE 8 — LEASES The Company has