Company: AGCC
Filing Date: 2025-08-19
Form Type: F-1/A
Source: 0001213900-25-078155
Chunk: 101

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-08-19
Form: F-1/A
Chunk 101
---
 would decrease the carrying value of our inventory and result in a corresponding increase in cost of sales and a decrease in gross profit. off-balance sheet arrangements There were no off -balancesheet arrangements for the years ended December 31, 2024 and 2023 that have or that in the opinion of management are likely to have, a current or future material effect on our financial condition or results of operations. Accounting standards and REcently accounting pronouncements See Note 3 (Recent Accounting Pronouncements) in our audited combined financial statements for a discussion of recent accounting pronouncements. 66 INDUSTRY OVERVIEW Executive Summary This industry report provides a comprehensive analysis of the spirits market in Asia, with a particular focus on the Scotch whisky segment. The report covers the economic context, market trends, and detailed analyses of key markets including Taiwan, China, Singapore, Japan, India, and Hong Kong. Key findings include the significant growth of the spirits market in Asia, driven by rising consumer purchasing power and evolving preferences towards premium and imported spirits. The report also highlights the increasing role of e -commerce in the distribution of spirits and the potential opportunities for non -major brands to capture market share through unique offerings and innovative marketing strategies. Source of Information The information contained in this section and elsewhere in the prospectus have been derived from various official government and other publications generally believed to be reliable and the market research report prepared by Migo Corporation Limited (“MIGO”) and commissioned by our Group in connection with this Offering. All information and data presented in this section is derived from MIGO’s industry report, unless otherwise noted. The following discussion includes projections for future growth, which may not occur at the rates that are projected or at all. Economy of Asia According to the Asian Development Bank (“ ADB”), Asia is among the fastest -growingregions in the world in 2024. According to the Regional Economic Outlook for Asia and the Pacific, published in September 2024, growth in developing Asia and the Pacific remained strong during the first half of 2024, supported by domestic demand and a continued recovery in exports. High -incometechnology exporters, particularly those in the semiconductor industry, benefited from strong global demand for artificial intelligence products. Meanwhile, inflation continued to decline, driven by the lagged effects of tight monetary policy and easing global food prices. The growth outlook for developing Asia Pacific has been raised to 5.0% for 2024, up from 4.9% in April. The growth projection for 2025