Company: AGCC
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026121
Chunk: 65

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 65
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 the majority of our revenue was generated from Taiwan sales within Taiwan, accounting for 89% and 97% of total revenue, respectively. Our strong presence and established distribution network in the local market have been the primary drivers of our sales in Taiwan. In 2023, our international sales accounted for 11% of total revenue, with 8% coming from the Chinese market and 3% from the United Kingdom. These international markets presented attractive growth opportunities, and we leveraged our expertise in whisky trading to expand our reach beyond Taiwan. However, in 2024, our international sales declined to 3% of total revenue, solely comprising sales to the Chinese market. The decrease in international sales was primarily due to the cessation of sales to the related party in the United Kingdom. While our primary focus has historically been on strengthening our position in the Taiwan market, we recognize the importance of international expansion and diversifying our revenue streams to drive long -termgrowth. Moving forward, we are committed to developing a clear plan for international expansion and revitalizing our global presence.

46 This plan will involve leveraging our brand -authorizedbottling, packaging, and sales model, which enables us to collaborate with renowned whisky brands and offer a diverse portfolio of premium and luxury whisky products tailored to regional preferences. We operate through two primary products: raw cask whisky sales and bottled whisky sales. The raw cask whisky sales involve selling entire barrels of whisky to other wine sellers and distributors, while the bottled whisky sales involve selling these products to bars, restaurants, nightclubs, VIP lounges, and corporate clients. In 2023, our raw cask whisky sales accounted for 88% of total revenue. This channel has been a significant contributor to our revenue, leveraging our expertise in sourcing and aging high -qualitywhisky products, as well as our established relationships with industry partners and retailers. However, in 2024, the contribution from the raw cask whisky sales decreased to 36% of total revenue. We are actively evaluating our strategies to optimize this product and maintain our position as a trusted supplier in the industry. The bottled whisky sales accounted for 12% and 64% of total revenue in 2023 and 2024, respectively. Since 2024, this product has been a strategic focus for us, as it allows us to capture higher margins and build stronger connections with our customer base. The increase in the bottled whisky sales contribution in 2024 reflects our efforts to enhance our capabilities, including strengthening our brand recognition, improving our