Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 93

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 93
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 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 operations. The negative operating cash flows in both years were primarily attributable to the nature of our whisky trading business, which requires us to maintain significant inventory levels to meet customer demand and support the aging process of our whisky products. These cash outflows reflect our continued investment in the business as we pursue long -termgrowth and success. The significant net cash inflow of US$494,042 from investing activities in 2023 was primarily due to the repayment of a loan extended to a related party in a previous period. This loan was provided to support the working capital needs of the related party, and its repayment in 2023 resulted in a substantial cash inflow for our company. It is important to note that our cash flows from financing activities, particularly in the year 2024, were impacted by offering costs incurred in connection with IPOs. These offering costs reduced the net cash inflows from financing activities. In 2024, we incurred offering costs of US$150,151 related to IPOs, which contributed