Company: AGCC
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026121
Chunk: 183

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 183
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 FROM CONTRACTS WITH CUSTOMERS a)Disaggregated revenue information:

|                                      |     | For the financial years ended 
                  December 31, |     |           |
|                                      |     |                          2023 |     |      2024 |
|                                      |     |                           US$ |     |       US$ |
| Types of goods                       |     |                               |     |           |
| Whisky products                      |     |                       887,310 |     | 2,537,743 |
| Timing of revenue recognition        |     |                               |     |           |
| Goods transferred at a point in time |     |                       887,310 |     | 2,537,743 |

During the year ended December 31,2023, contract liabilities of US$310,340 were recognized as revenue. No contract liabilities were recognized as revenue during the year ended December 31, 2024.

F-16 AGENCIA COMERCIAL CO., LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEARS ENDED DECEMBER 31, 2023 AND 2024 8.REVENUE FROM CONTRACTS WITH CUSTOMERS (cont.) b)Performance obligations 1.Nature of Performance Obligations In accordance with ASC 606, the Company identifies the following performance obligations in its contracts: • Product Delivery: The Company is responsible for delivering the specified goods (e.g., whisky products) to the designated location and ensuring that the goods meet the agreed specifications and quality. • Acceptance and Replacement: If the delivered goods do not conform to the specifications or have defects, the customer must notify the Company in writing within 10 days, and the Company shall unconditionally replace the goods and bear the corresponding shipping costs. However, upon the acceptance of the delivered goods by the customer, no return of the goods will be accepted if the customers subsequently discover the delivered goods do not confirm to the agreed specifications or have defects. 2.Timing of Revenue Recognition • Upon Delivery: Revenue is recognized when the goods are delivered to the customer, which is when control of the goods transfers to the customer. For overseas sales transactions, the Company recognise revenue in accordance with relevant incoterms (international Commercial Terms) specified in the respective sales contracts. The timing of revenue recognition is determined by the transfer of control and risk associated with the goods to the customer. For overseas sales under the Free on Board (FOB) shipping point incoterm, revenue is recognised when the goods are loaded onto