Company: GINT
Filing Date: 2025-08-04
Form Type: F-1/A
Source: 0001213900-25-070836
Chunk: 112

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-04
Form: F-1/A
Chunk 112
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 golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non -emerginggrowth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is not an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Basis of Presentation The accompanying consolidated and combined financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Basis of Consolidation The consolidated and combined financial statements include the accounts of the Company and its subsidiaries and Variable Interest Entity (“VIE”) in which the Company is the primary beneficiary. All significant inter -companybalances and transactions within the Company have been eliminated upon consolidation.

61 The Company determines, under Accounting Standards Codification (“ASC”) Topic 810, Consolidation(“ASC 810”), whether an entity in which it has made an investment or in which it has other variable interest is considered a VIE. The Company consolidates a VIE when it is the primary beneficiary. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i)has the power to direct the activities that most significantly affect the economic performance of the VIE; and (ii)has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, the Company determines whether any changes in its interest or relationship with the entity impact the determination of whether the entity is still a VIE and, if so, whether the Company is the