Company: GINT
Filing Date: 2025-06-06
Form Type: F-1
Source: 0001213900-25-052213
Chunk: 252

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-06
Form: F-1
Chunk 252
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 underlying assets during the lease term. The Company’s obligation to make lease payments are included in “Lease liabilities” on the balance sheet. Supplemental balance sheet information related to operating leases was as follows:

| Operating lease:              |     | As of March 31, 
 2023            
 HKD             |           |     | 2024 
 HKD  |         |     | 2024 
 USD  |        |
|:------------------------------|:----|:----------------|----------:|:----|:-----|--------:|:----|:-----|-------:|
| Right-of-use assets, net      |     | $               | 1,472,133 |     | $    | 432,980 |     | $    | 55,510 |
| Lease liabilities:            |     |                 |           |     |      |         |     |      |        |
| Current lease liabilities     |     | $               | 1,041,535 |     | $    | 442,878 |     | $    | 56,779 |
| Non-current lease liabilities |     |                 |   442,878 |     |      |       — |     |      |      — |
| Total lease liabilities       |     | $               | 1,484,413 |     | $    | 442,878 |     | $    | 56,779 |

Operating lease expense for the years ended March 31, 2023 and 2024 were HK$623,000 and HK$1,068,000 (US$136,923), respectively. Other supplemental information about the Company’s operating lease as of March 31, 2023 and 2024:

|                                               |     |       2023 |   |     |       2024 |   |
| Weighted average discount rate                |     |       2.75 | % |     |       2.88 | % |
| Weighted average remaining lease term (years) |     | 1.46 years |   |     | 0.46 years |   |

Operating lease commitments: As of March 31, 2024, the Company has future minimum lease payments of HK$442,878 (US$56,779) due in the next 12 months.

F-44 GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE COMBINED FINANCIAL STATEMENTS NOTE 8 — SHAREHOLD