Company: GINT
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001213900-25-044839
Chunk: 108

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 108
---
 price of sales orders of 13.2%, which was mainly attributable to broad -basedprice increase of our products. Such broad -basedprice increase across our products was a strategic move driven by management decisions aimed at enhancing margins and introducing more premium offerings during the year ended March31, 2024. And these price adjustments were not influenced by inflationary pressures but rather by a deliberate effort to improve overall performance.

60

The table below sets out our revenue breakdown by customer types for the periods indicated.

|                      |     | For the year ended March 31, 
                         2023 |     |       |     |       2024 |     |       |
|:---------------------|:----|-----------------------------:|:----|------:|:----|-----------:|:----|------:|
|                      |     |                          HKD |     |     % |     |        HKD |     |     % |
| Corporate clients    |     |                   63,840,199 |     |  73.0 |     | 54,372,507 |     |  66.7 |
| Individual customers |     |                   23,612,128 |     |  27.0 |     | 27,180,858 |     |  33.3 |
| Total                |     |                   87,452,327 |     | 100.0 |     | 81,553,365 |     | 100.0 |

During the reporting periods, revenue was mainly contributed by the sales to corporate clients, which accounted for approximately 73% and 67% of total revenue in FY2023 and FY2024 respectively, respectively with an overall average of 70% across both years. Revenue generated from corporate clients decreased by approximately HK$9.5million or 14.8% from HK63.8million in FY2023 to HK$54.4 (US$7.0million) in FY2024. The decrease in revenue was primarily attributed to a decline in sales from one of our major corporate clients, which was further exacerbated by the overall slowdown in Hong Kong’s economic climate during FY2024. This decline in revenue was partially offset by a 13.2% increase in the average sales order value, largely driven by a broad -basedprice adjustment across our product offerings. Cost of revenues Cost of revenues consists primarily of (i) cost of floral and non -floralmerchandise sold from inventory or through third