Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 105

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 105
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 of approximately US$3.8 billion in 2024. This growth is fueled by a robust domestic production base and a growing preference for premium and imported brands among urban consumers, with an anticipated annual growth rate of around 10%. The market is characterized by significant demand for blended whiskies, with local brands dominating sales, holding approximately 90% of the market share. However, the rising middle class and evolving lifestyle preferences are paving the way for single malts and premium offerings, as the demand for premium imported whiskies continues to rise. E -commerceis emerging as a vital sales channel, with online sales of alcoholic beverages expected to grow by 30% annually as platforms expand their reach. Despite facing regulatory challenges, including high taxes that can exceed 200% in some states, complicating distribution and pricing strategies, the overall growth potential remains substantial as consumer tastes evolve. Hong Kong Hong Kong represents a vibrant market for whisky, valued at approximately US$600 million, benefiting from its status as a major international trading hub, coupled with a strong culture of whisky appreciation among its residents, significantly contributes to this dynamic environment. The market has experienced annual sales growth of approximately 10%, particularly driven by the rising popularity of single malts among affluent consumers. Numerous bars and specialist retailers offer an extensive selection of both local and international brands, while the growing interest in whisky cocktails and tasting events, including the annual Hong Kong Whisky Festival, contributes to the market’s dynamism. Additionally, Hong Kong’s role as a gateway to China provides opportunities for whisky brands to expand their reach. In October 2024, Hong Kong announced a significant tariff reduction on spirits, lowering the duty from 100% to 10% on the portion of the import price exceeding HKD200 (about US$26). This move aims to reinvigorate Hong Kong’s nightlife and spirits trade while enhancing its position as a key player in the global whisky market. Opportunities for the Cask-to -Bottle business from Non-Major Brands Non -majorwhisky brands have significant opportunities to attract customers by offering unique and authentic products that emphasize craftsmanship and distinctive flavor profiles. These brands can create tailored experiences through cask ownership programs, allowing consumers to select their casks and influence the aging process. This direct engagement with their customers fosters a sense of community and loyalty, while a focus on sustainable practices and local ingredients appeals to environmentally conscious consumers. By leveraging regional identity and cultural storytelling, non -majorbrands can resonate with customers looking for authenticity and connection. 71

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