Company: GINT
Filing Date: 2025-01-28
Form Type: DRS/A
Source: 0001213900-25-007208
Chunk: 254

Company: Gifts International Holdings Ltd
Filing Date: 2025-01-28
Form: DRS/A
Chunk 254
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 unsecured, interest -freeand due on demand. The balance is expected to be repaid in full on or before December31, 2024. The amount due from a related company represented temporary advances in non -tradenature, which is unsecured, interest -freeand repayable on demand. The balance was settled in full in March 2024. In the ordinary course of business, during the years ended March 31, 2023 and 2024, the Company has involved with transactions, either at cost or current market prices and on the normal commercial terms among related parties. The following table provides the transactions with these parties for the years as presented (for the portion of such period that they were considered related):

| Name                  |     | Nature                        |     | For the years ended March 31, 
 2023                          
 HKD                           |           |     | 2024 
 HKD  |           |     | 2024 
 USD  |         |
|:----------------------|:----|:------------------------------|:----|:------------------------------|----------:|:----|:-----|----------:|:----|:-----|--------:|
| Mr. Wong              |     | Dividends distributed         |     | $                             | 4,200,000 |     | $    | 4,100,000 |     | $    | 525,641 |
| Tutti Digital Limited |     | Marketing and advertising fee |     | $                             |   125,520 |     | $    |    62,250 |     | $    |   7,981 |
| iMHKB Group Ltd       |     | Purchases of good             |     | $                             |         — |     | $    | 1,070,858 |     | $    | 137,289 |

Apart from the transactions and balances detailed above and elsewhere in these accompanying combined financial statements, the Company has no other significant or material related party transactions during the years presented. NOTE 13 — CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a)Major customers For the years ended March 31, 2023 and 2024, there is no single customer who accounted for 10% or more of the Company’s revenues and its outstanding receivable balances at year -enddates.

F-45

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE COMBINED FINANC