Agencia Comercial Spirits Ltd is an exempted company with limited liability incorporated under the laws of the Cayman Islands. As Agencia Comercial Spirits Ltd is a holding company with no material operations of its own, our operations are conducted through our indirect wholly owned operating subsidiary Agencia Comercial Co., Ltd (“Agencia Taiwan”) in Taiwan. Agencia Taiwan was formally registered and established in July 2020, and is committed to offering imported whiskies of world-class quality and excellent services to its clients. Agencia Taiwan has grown rapidly since its inception, leveraging its extensive industry experience, strategic partnerships, and innovative business model to establish itself as a trusted and prominent player in the whisky market. Our mission is to enhance the whisky experience in Taiwan and other Asia-Pacific countries by offering expert guidance, competitive pricing, and exceptional customer service. Our Group operates across three primary business areas: • Bottled Whisky Sales: Sourcing bottled whisky from local suppliers in Taiwan and reputable distilleries in the UK, the company, along with its downstream distributors, sells these products to bars, restaurants, nightclubs, VIP lounges, and corporate clients. • Raw Cask Whisky Sales: Starting in 2023, our Group expanded into the procurement and sale of raw cask whisky sourced directly from distilleries in the UK. These unprocessed casks are sold directly to other liquor and spirits distributors, enabling our Group to tap into a broader market segment. • Cask-to-bottle and distribution business: Beginning in 2025, our Group ventures into cast-to-bottle and distribution business which involves brand-authorized whisky bottling, packaging, and sales. Under this model, it obtains brand licenses, sources raw cask whisky directly from brand owners, and conducts bottling and packaging in Taiwan with the aid of local contract manufacturers. From 2020 to now, our development can be divided into following stages: • Start-up period (2020-2022): During its initial years, our Group primarily focused on bottled whisky sales, following a business-to-business (B2B) model. By sourcing both locally and internationally, Operating Subsidiary developed a network of suppliers and clients. • Growth period (2023-2024): Our Group expanded its operations to include the sale of raw cask whisky sourced directly from distilleries, accounting for a significant portion of its revenue. This diversification allowed it to offer unique, high-quality products while continuing to focus on B2B relationships. • Expansion in 2025 and Beyond: Our Group plans to expand its operations to include collaboration with brand owners. This will involve obtaining brand authorization through the payment of licensing royalties, sourcing raw cask whisky from these brand owners, and conducting bottling and packaging in Taiwan, primarily through local contract manufacturers, for which processing fees will be incurred. Our Group will then market and sell products under the respective brands. Initially, the primary customers will be distributors, focusing predominantly on a business-to-business model. Our Group is committed to prioritizing customer care, delivering high-quality products, and continuously addressing market demands with innovative offerings. Our dedication to continuous innovation ensures we remain at the forefront of industry trends, enabling us to introduce new whisky brands, products, and services to the market. This includes localizing bottling and packaging processes to mitigate risks from natural events or pandemics, as well as collaborating with new whisky brand owners to successfully penetrate and thrive in the Taiwan market. With our experienced management team led by our chief executive officer who brings over 10 years of experience in the alcoholic beverage distribution sector in Taiwan, our Group combines a keen market sense with timely marketing strategy. We believe these strengths have made our Group a prominent force in assisting a variety of world renowned whisky brands in opening the Taiwan sales market. Over the past two years, our Group believes that it has held an important leadership position within the local industry. This leadership is attributed to several key factors that distinguish our Group from its competitors: (i) Superior Product Offerings — our Group’s product portfolio is characterized by exceptional quality and a unique variety, which sets it apart from competitors; (ii) Exceptional Customer Service — our Group prides itself on providing unparalleled customer service. This includes prompt responses to orders and requests from both existing and potential customers, ensuring timely and efficient service delivery; and (iii) Innovative Thinking — our Group’s innovative approach drives continuous exploration of new opportunities and the development of novel approaches to enhance its products and services. This includes strategic sourcing and collaboration with various whiskey brands, as well as conducting bottling and packaging operations in Taiwan. Our Group believes that its leadership position is underpinned by its superior product offerings, exceptional customer service, and forward-thinking innovation. Our Group is dedicated to maintaining these high standards and continuing to lead the industry with excellence. “From Barrel to Bottle” represents our Group’s core value, highlighting its dedication to delivering a comprehensive, one-stop whisky distribution service. Our Group provides an extensive range of products and utilizes a diverse array of sales channels. Consequently, both business volume and profit have experienced average annual growth. Our distribution channels encompass a broad swath of Taiwan, including clubs, restaurants, bars, hotels, VIP lounges, and corporate clients through our downstream distributors. Looking ahead, we aim to further diversify our product offerings, expand its footprint in the Asia-Pacific region, and solidify our position as a trusted key whisky distributor. By combining our client-centric approach, strategic partnerships, and focus on premium products, we believe that we are well-positioned to capture a significant share of the growing demand for high-quality whisky in Asia and beyond. Our principal executive offices is located in Taichung City, Taiwan.
