Company: GINT
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001213900-25-044839
Chunk: 231

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 231
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, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

| /s/ ARK Pro CPA & Co |
| ARK Pro CPA & Co     
 PCAOB ID: 3299       |

Hong Kong, China October21, 2024, except for notes1,8, 9 and 15 as to which the date is May16, 2025. We have served as the Company’s auditor since 2024.

F-27

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
COMBINED BALANCE SHEETS

| ASSETS                                                                                                                                           
 Current assets:                                                                                                                                  |     | As of March 31, 
 2023            
 HKD             |            |     | 2024 
 HKD  |            |     | 2024 
 USD  |           |
|:-------------------------------------------------------------------------------------------------------------------------------------------------|:----|:----------------|-----------:|:----|:-----|-----------:|:----|:-----|----------:|
| Cash and cash equivalents                                                                                                                        |     | $               |  5,814,767 |     | $    |  8,604,416 |     | $    | 1,103,130 |
| Accounts receivable, third parties, net                                                                                                          |     |                 |    520,442 |     |      |  1,155,650 |     |      |   148,160 |
| Inventories, net                                                                                                                                 |     |                 |  1,353,682 |     |      |  2,136,639 |     |      |   273,928 |
| Amount due from a related party                                                                                                                  |     |                 |    353,165 |     |      |          — |     |      |         — |
| Amount due from a shareholder                                                                                                                    |     |                 |    545,716 |     |      |    165,505 |     |      |    21,219 |
| Deposit, prepayments and other receivables                                                                                                       |     |                 |    438,736 |     |      |    667,537 |     |      |    85,