Company: GINT
Filing Date: 2025-01-28
Form Type: DRS/A
Source: 0001213900-25-007208
Chunk: 253

Company: Gifts International Holdings Ltd
Filing Date: 2025-01-28
Form: DRS/A
Chunk 253
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 30, 2025. The post -transitionportion is calculated based on two -thirdof the salary of last month (or average monthly salary over last twelve months) and the reckonable years of service counting from May 1, 2025 to the last day of employment. The total of the two portions is subject to a maximum amount of HK$390,000 (US$49,682).

F-44

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE COMBINED FINANCIAL STATEMENTS NOTE 11 — PENSION COSTS (CONT.) The accrued benefit held in a mandatory provident fund scheme in respect of the employer’s contribution up to the end of employment that would be used to offset the pre -transitionportion of long service payments is deemed the plan assets for the long -servicepayments. The provision of long service payments under defined benefit plan was HK$0 and HK$62,495 (US$8,012) for the years ended March 31, 2023 and 2024, respectively. NOTE 12 — RELATED PARTY BALANCES AND TRANSACTIONS Nature of relationships with related parties

| Name of related party |     | Relationship with the Company                 |
| Mr. Wong              |     | Director and major shareholder of the Company |
| Take Care HK Limited  |     | Entity controlled by common shareholder       |
| Tutti Digital Limited |     | Entity controlled by common shareholder       |
| iMHKB Group Ltd       |     | Entity controlled by common shareholder       |

Related party balances consisted of the following:

| Name                 
 2023                 |     | Nature                            | 2024 | As of March 31, 
 HKD             |         | 2024 | HKD |         |     | USD |        |
|:---------------------|:----|:----------------------------------|:-----|:----------------|--------:|:-----|:----|--------:|:----|:----|-------:|
| Mr. Wong             |     | Amount due from a shareholder     |      | $               | 545,716 |      | $   | 165,505 |     | $   | 21,219 |
| Take Care HK Limited |     | Amount due from a related company |      | $               | 353,165 |      | $   |       — |     | $   |      — |

The amount due from a shareholder represented the temporary advances by the Company. The amount is