Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 91

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 91
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 for our bottled whisky sales, the cost of revenue decreased from 76% of total revenue in 2023 to 54% in 2024. Consequently, the gross margin for bottled whisky sales improved from 24% in 2023 to 46% in 2024. The improvement in gross margins across both sales channels reflects our efficient procurement and inventory management strategies, enabling us to manage costs effectively while capitalizing on increased sales volumes. 59 Gross profit and gross margin Gross profit for 2024 was US$1,265,303, a 248% increase from US$363,933 in 2023. The overall gross profit margin improved from 41% in 2023 to 50% in 2024, driven by better procurement strategies, economies of scale, and favorable pricing conditions. Our domestic sales segment in Taiwan, which contributed 97% of total revenue in 2024, experienced a significant improvement in gross margin, increasing from 40% in 2023 to 49% in 2024. This improvement was primarily driven by our ability to leverage economies of scale within the Taiwan market, as well as the implementation of more efficient procurement and inventory management strategies. While our international sales segment accounted for only 3% of total revenue in 2024, it demonstrated a remarkable gross margin improvement, increasing from 45% in 2023 to 58% in 2024. This improvement can be attributed to our strategic efforts to optimize pricing and focus on higher -marginmarkets, as well as the benefits of favorable currency exchange rates in certain regions. The gross margin for our raw cask whisky sales improved from 43% in 2023 to 56% in 2024. This improvement was facilitated by our ability to negotiate better terms with suppliers, streamline logistics, and capitalize on bulk purchasing discounts. Our bottled channel, which sells to bars, restaurants, nightclubs, VIP lounges, and corporate clients in collaboration with our downstream distributors, experienced a gross margin improvement from 24% in 2023 to 46% in 2024. This increase was driven by our efforts to optimize pricing strategies, enhance operational efficiencies, and leverage our strong brand reputation in the premium whisky market. Through a combination of strategic initiatives and favorable market conditions, we were able to achieve significant gross margin improvements across our key segments, demonstrating our commitment to operational excellence and profitability. General and administrative expenses These expenses increased to US$205,341 in 2024, up 305% from US$