Company: AGCC
Filing Date: 2025-07-29
Form Type: F-1/A
Source: 0001213900-25-068743
Chunk: 94

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-07-29
Form: F-1/A
Chunk 94
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 significant growth in sales and the improvement in gross profit margin during the year. Our revenue in 2024 reached US$2,537,743, representing a significant increase of 186% compared to the previous year. In addition to the substantial growth in sales, we also achieved a significant improvement in our gross profit margin, which increased from 41% in 2023 to 50% in 2024. The combination of robust revenue growth and improved gross profit margins contributed significantly to the substantial increase in income from operations in 2024. This strong operating performance demonstrates our ability to capitalize on growth opportunities while maintaining cost discipline and operational efficiency, positioning it for continued success in the competitive whisky industry. Income tax expenses Our income tax expense for the fiscal years 2023 and 2024 were US$60,874 and US$238,935, respectively. The increase in income tax expense in 2024 was primarily driven by higher taxable income generated during the year. Despite the increase in income tax expense, our effective tax rate remained relatively stable, with no significant changes compared to the previous year. As a company operating in Taiwan, our income tax obligations are governed by the local tax authorities and regulations. We are subject to income tax only in Taiwan, where our business operations are based. Net Income We reported net income of US$779,278 in 2024, a 226% increase from US$239,288 in 2023. The growth in net income was driven by higher revenue, improved gross margins, and effective cost management, partially offset by increased operating expenses. cash flows Our cash flow is primarily derived from our operating, investing, and financing activities. During the year ended December 31, 2024, we did not have any investing cash flows. For the year ended December 31, 2023, net cash used in operating activities was US$274,522, while net cash provided by investing activities was US$494,042. Net cash used in financing activities for the year ended December 31, 2023, was US$157,258. For the year ended December 31, 2024, net cash used in operating activities was US$236,837, consistent with the previous year’s trend driven by changes in inventory levels to support our whisky trading business. There was no investing cash flow during this period. Net cash provided by financing activities in 2024 was US$191,786, primarily resulting from proceeds received from a related party to support our working capital needs and ongoing