Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 112

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 112
---
 it to leverage the higher revenue while maintaining a disciplined approach to expenses. Our financial condition and results of operations for the year ended December31, 2024, reflect its strong market position, effective execution of growth strategies, and efficient management of resources. These factors have positioned us favorably for continued growth and profitability in the future. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional details. Looking ahead, we aim to leverage our strong market presence and industry experience to further expand operations. Our Group plans to further obtain brand authorization and source raw cask whisky from brand owners, bottling and packaging these products in Taiwan through contract manufacturers. This initiative will mark a significant step towards brand diversification and market expansion. While the primary sales channel will continue to be B2B, we are also exploring additional sales avenues, including retail, to broaden its market reach. The Company has secured long -termauthorization agreements with certain brand owners, such as Ninja Whisky and Robuchon. Furthermore, through our contractor, we have obtained certain certifications from HMRC (verified as a Bottler & Labeller of Scotch Whisky under Spirit Drinks Verification Scheme, and a Bulk Importer of Scotch Whisky under the Spirit Drinks Verification Scheme, each until March 2027, respectively) and also plans to obtain certain certifications from the Japanese Brewery Association to further solidifying its position as a trusted partner in the industry. 76 Our future development is guided by several strategic directions. We will continue to cover a broad range of business areas, including bottled whisky sales, raw cask whisky sales, and brand authorizations for bottling, packaging, and sales in Taiwan. We plan to grow from our Taiwan base to the entire Asian whisky market, with a particular focus on brand authorizations for bottling, packaging, and sales. According to the Migo’s industry report, the whisky market in Taiwan is experiencing significant growth, with sales increasing by approximately 20% annually, driven by increasing demand for premium and imported spirits. Similarly, the whisky market in China is projected to have an annual growth rate of around 15% through 2025, while the whisky market in Hong Kong has seen sales increase by approximately 10% annually. In October 2024, Hong Kong announced a substantial tariff reduction on spirits, reducing the duty from 100% to 10% on the portion of the import price exceeding HKD200 (approximately US$26). This is expected to have a positive impact on whisky sales. This trend align