Company: AGCC
Filing Date: 2025-07-10
Form Type: F-1
Source: 0001213900-25-062654
Chunk: 87

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-07-10
Form: F-1
Chunk 87
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56 | % |
| Bottled whisky sales  |     |                                     24,665 |     |     24 | % |     |  756,024 |     |     46 | % |

56

In 2024, our raw cask whisky sales segment generated a gross profit of US$509,279, representing a gross profit margin of 56%, an improvement from 43% in 2023. This increase in profitability was driven by economies of scale, operational efficiencies, and favorable pricing conditions. Our bottled whisky sales segment, which has been a strategic focus for us since 2024, demonstrated remarkable growth and profitability improvements. In 2024, this segment generated a gross profit of US$756,024, with a gross profit margin of 46%, a significant increase from 24% in 2023. This improvement can be attributed to our efforts to expand our premium whisky offerings, command higher selling prices, and capitalize on the growing demand for luxury whisky products. The growing demand for premium and luxury whisky products enabled us to command higher selling prices, particularly for our high -endofferings, without significantly impacting sales volumes. General and administrative expenses General and administrative expenses consist primarily of staff costs (including salaries, messing, etc.), expenses related to trademark, lease expenses, and professional fee.

|                                     |     |   2023 |     |    2024 |
|                                     |     |    US$ |     |     US$ |
| General and administrative expenses |     |        |     |         |
| – Professional fees                 |     |      — |     |  85,687 |
| – Staff costs                       |     | 32,600 |     |  40,367 |
| – Trademark                         |     |      — |     |  30,365 |
| – Lease expenses                    |     |  9,636 |     |  15,268 |
| – Others                            |     |  8,426 |     |  33,654 |
|                                     |     | 50,662 |     | 205,341 |

In 2023, our general and administrative expenses accounted for 6% of total revenue. This relatively low percentage reflects our efforts to maintain a lean and efficient cost structure while focusing on our core operations. However, in 2024, our general and administrative expenses increased to 8% of total revenue. The increase in general and administrative expenses in 2024 was primarily driven by higher staff