Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 89

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 89
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278 |            |     | 31 | %      |     |   539,990 |   |     |   225.7 | %  |

Revenue We generated revenue of US$2,537,743 in 2024, marking a significant increase of 186% from US$887,310 in 2023. This remarkable growth was driven by increased sales volumes, expanded market reach, a successful pricing strategy, and a strategic shift in the brands of whisky sold. Our primary revenue driver has been the market in Taiwan, accounting for 89% of total revenue in 2023 and increasing to 97% in 2024. While international sales contributed 11% of revenue in 2023 (8% from China and 3% from the UK), this segment declined in 2024, with only 3% of revenue coming from the Chinese market. The decrease in international sales was primarily due to the cessation of sales to a related party in the United Kingdom. Our strong market presence in Taiwan and established distribution network in Taiwan have been key factors supporting our revenue growth. A notable change occurred in our revenue contribution from the raw cask whisky sales segment, which decreased from 88% of total revenue in 2023 to 36% in 2024. Conversely, the bottled whisky sales segment increased from 12% of total revenue in 2023 to 64% in 2024. This shift was driven by strategic initiatives and evolving market trends. Our focus on expanding bottled whisky offerings and strengthening our brand presence in the premium whisky market contributed significantly to this shift. Additionally, changing consumer preferences and a growing demand for

58 premium bottled whisky products have created favorable conditions for this transaction. While the raw cask whisky segment remains important, the growth in bottled whisky sales has allowed us to capture higher margins and forge stronger connections with our customers. The substantial increase in revenue reflects our successful expansion efforts and improved market penetration supported by favorable market conditions and increased demand for whisky products. In 2024, we strategically implemented selective price increases across our product portfolio. This pricing strategy aimed to capture the growing demand for premium and luxury whisky offerings while reflecting increased costs associated with sourcing, aging, and producing exceptional whisky expressions. By adjusting selling prices upward, particularly for our higher -endand limited -editionproducts, we were able to maximize revenue potential and align pricing with the perceived value and rarity of these offerings. This strategy not only contributed to overall revenue growth but also enhanced our brand’s positioning as a purveyor of