NEW YORK, NY AND TAIPEI, TAIWAN / ACCESSWIRE / July 8, 2024 / SUIC Worldwide Holdings (SUIC" or the "Company") (OTC PINK:SUIC) today announced a shareholder letter from its CEO, Hank Wang.
Dear SUIC Worldwide Holdings Shareholders, Partners, and Family:
I am delighted to share with you the progress and vision of SUIC Worldwide Holdings as we continue our journey to empower enterprises with cutting-edge technology and innovative financing solutions. Our mission is to invest in promising private and public enterprises, helping them to develop and expand their products and services through the strategic use of advanced technologies such as the Internet of Things (IoT), cloud computing, mobile payments, Big Data, blockchain, and artificial intelligence (AI).
At SUIC, we provide specialized consulting services to assist small and micro-cap companies, which often face challenges in accessing capital, in successfully navigating the public markets. Leveraging our management team's expertise in risk management and exit planning, intense research and development capabilities, and a global network of investments and professionals, we accelerate the development and commercialization of our clients' products and services.
Our commitment to research and development and venture financing uniquely positions us to support private enterprises by focusing on businesses that adopt core technologies to enhance and streamline existing processes and establish new and revolutionary business models. This approach exposes our shareholders to the diverse applications of advanced services across various economic sectors and enables our customers to benefit from our diversified portfolio of technologies.
SUIC plays a significant role as the principal operating partner and primary shareholder of Beneway USA Group Ltd. This strategic partnership allows us to implement long-term strategies to tap into growth opportunities within the Asian and US markets, thereby contributing to our overall growth and expansion plans.
Our subsidiary, i.Hart Group operates 150 global franchised locations, primarily in Asia. i.Hart offers a variety of brands and products, including Monga® Taiwan-style Fried Chicken, cloud kitchen management, dumplings, flower tea drinks, and more. We are excited about the positive developments expected to boost Beneway USA's IPO activity, further enhancing our capabilities and proprietary B2B2C system.
i.Hart Group
SUIC Worldwide Holdings' i.Hart Group is poised to unlock significant growth opportunities across the Asian and U.S. markets. These regions represent most of the global food market, a sector poised for continued expansion driven by population growth and increased expenditure.
At the beginning of this year, i.Hart Group operated 150 global franchised locations under various brands, including Monga® Taiwan-style fried chicken, flower tea drinks, cloud kitchen management, AI smart machines, hot pot, and more. Since then, we have signed franchise authorization agreements to see the number of franchised stores in Asia grow to 200 by year-end and over 1000 within the next five years. We aim to integrate more successful brands into our Asian and U.S. portfolios, complementing our leading brand, Monga Fried Chicken.
We are pleased to announce that SUIC and i.Hart Group has signed additional franchise authorizations in China and Japan. These franchise authorizations include opening a new store in the Hong Kong-Macau area, a co-branding agreement with 7-Eleven Group Taiwan, and a franchise development plan rollout in China. Statista projects the size of Asia's food market to reach $4.46 trillion in 2024 against a global market size of $9.13 trillion. With the region's population expected to grow by about 250 million people by 2030 and expenditure anticipated to more than double to $8 trillion, these regions represent a massive opportunity for i.Hart Group.
To support this expansion, we have entered into significant agreements. In February, SUIC and i.Hart signed a co-branding agreement with 7-Eleven Group Taiwan (operated by President Chain Store Corporation) to grow the Monga Fried Chicken brand. This agreement granted 7-Eleven Group Taiwan exclusive rights to use Monga Fried Chicken's trademarks and logos and its manufacturing, distribution, sales, and marketing assets within Taiwan. This partnership effectively integrates Monga Fried Chicken into over 6,800 7-Eleven stores in Taiwan and connects us to 7-Eleven's international network of stores.
SUIC Worldwide Holdings CEO Hank Wang has delineated the company's strategic vision and growth milestones in a shareholder letter. The company aims to empower enterprises with cutting-edge technology and innovative financing solutions. They offer specialized consulting services to assist small and micro-cap companies in accessing capital and supporting private and public businesses. SUIC is committed to research and development and venture financing and is the principal operating partner and primary shareholder of Beneway USA Group Ltd. Its subsidiary, i.Hart Group is positioned to unlock substantial growth opportunities across the Asian and U.S. markets, with additional franchise authorizations in China and Japan already in place. The same month, we celebrated the grand opening of the fourth Monga Taiwan-style fried Chicken store in Hong Kong-Macau. i.Hart Group also launched a franchise development plan in China, initially teaming up with partners in the Chinese province of Fujian to open Monga Fried Chicken stores in six major cities. This plan, which is part of our larger expansion strategy, has the potential to significantly increase our market presence in China and boost our growth in the region.
In April, i.Hart Group extended its commitment to increasing the number of Monga Fried Chicken stores in Asia by signing franchise authorizations with partners in the Chinese province of Shandong and Japan. As a result, i.Hart Group now has a presence in 11 countries and operates 95 Monga Fried Chicken stores. This number will grow as our new partners open additional stores.
For instance, the franchisee in Shandong, China's second-largest province, has committed to opening 10 Monga Fried Chicken stores in the first year and 300 stores within the subsequent five years. Additionally, we are organizing an operating and franchising team in the U.S. to further our expansion efforts.
Our venture financing and support company, through its i.Hart Group and Boom Fintech subsidiaries have entered agreements that set the stage for significant growth. Recently, i.Hart Group signed a brand cooperation agreement with 7-Eleven, which will promote long-term growth and open doors for more cooperation with U.S. brands.
For its part, Boom Fintech, which holds nine revolutionary fintech patents, is working on financing to support the creation of a groundbreaking B2B financing platform and enhance supplier supply chain integration.
These efforts will accelerate Beneway's initial public offering (IPO) plans. Beneway intends to file the S-1 form with the Securities and Exchange Commission (SEC) later this year as part of its plans to list on a national stock exchange, which will maximize SUIC's corporate and shareholder value.
SUIC expects to significantly expand its product markets, making 2024 its best year. We will continue introducing more co-branding products in the U.S. with other prestigious brands to expand our business. Additionally, we will focus on fintech through industry supply chain integration, global chain, franchise expansion, and other supply chain integrations to enhance and streamline existing processes and establish new and exciting business models that will create revolutionary products and services.
Beneway USA
SUIC is Beneway USA's biggest investor, shareholder, and major operating partner. We are particularly excited about its upcoming initial public offering (IPO). This milestone represents a significant step forward in leveraging advanced technologies and innovative business models to create new opportunities.
Beneway USA has two major sections: Catering Group franchising and OEM distribution. The catering group is run by I.Hart Group, a key subsidiary of Beneway USA, which has ambitious plans to scale its operations. From an impressive 150 franchise stores at the beginning of this year, we intend to expand to over 750 stores across North America and Asia. This rapid growth underscores our commitment to establishing a strong presence in these critical markets.
The other section is Fintech and Supply Chain Integration: With our nine patents, we are proud to announce our Proprietary B2B2C System. We have successfully rolled out a proprietary Business-to-Business-to-Consumer (B2B2C) system-a superior all-in-one payment and total financing solution. This system combines the capabilities and benefits of our B2B e-commerce model with our proprietary B2C platform, creating a powerful tool for businesses and merchants alike.
SUIC Worldwide and Beneway USA's B2B2C system merges our B2B e-commerce model with a proprietary B2C platform, aiming to streamline business processes, optimize costs, and provide comprehensive solutions for merchants and consumers. By integrating purchase order payments, inventory control, financing services, AI credit systems, and big data, our B2B model enhances operational efficiency and growth opportunities. The B2C platform, developed by Boom FinTech Inc., integrates payment systems, mobile cash registers, POS devices, and enterprise resource planning, supported by nine FinTech patents, offering merchants a fully integrated or customizable solution.
The B2B2C system combines these B2B and B2C capabilities to facilitate financing and business operations, providing strategic planning that blends business financing, fintech solutions, and inventory management. This comprehensive approach enhances our partner merchants' sales and marketing channels. SUIC and Beneway USA, with a recent agreement for up to $100 million in IP financing from BD Bankers, aim to integrate advanced systems and expand our global supply chain network. As we adopt cutting-edge technologies, we expect rapid growth and a strong competitive edge, positioning ourselves to capture a significant share of the projected $13.4 billion global supply chain financial market by 2025.
Planned IPO of Beneway USA
I want to provide an update regarding SUIC Worldwide Holdings' subsidiary, Beneway USA, and its planned IPO.
In our pre-IPO presentation, Beneway USA highlighted its exponential growth potential. Central to this plan is the ambitious target of opening over 750 franchise stores across North America and Asia through our Asia and US subsidiaries. Our goal is to achieve this expansion before the IPO.
At the beginning of this year, I.Hart Group operated 150 global franchised locations under various brands and products, including Monga® Taiwan-style fried chicken, flower tea drinks, cloud kitchen management, AI smart machines, hot pot, and more. Since then, we have signed franchise authorization agreements to see the number of franchised stores in Asia grow to 200 by year-end and over 1000 within the next five years.
Looking ahead, I.Hart Group plans to integrate more successful brands and catering groups into its Asian portfolio, initially targeting 25 strong brands. We also intend to replicate our successful multi-branding business model in the U.S., partnering with top franchise marketing and sales agencies to enter the U.S. franchise market in all 50 states. This expansion will help us achieve our target of 750 franchises and self-owned restaurants.
Four Strategies of U.S. Expansion:
We are excited to share our four-pronged marketing strategy for our upcoming expansion in the US.
National OEM Distribution: We are partnering with large distributors to expand our reach to the East Coast, West Coast, and Canada through national Original Equipment Manufacturer (OEM) distribution channels.
Local OEM Distribution and Market Franchising: We will expand our local OEM distribution and franchise our brand through our own or contracted regional food processing factories.
Local Franchising with Varying Combinations: By utilizing different combinations of local franchising, we aim to tailor our approach to meet the unique demands of each market.
Leveraging AI Smart Shop Technologies: We will employ our cutting-edge AI smart shop technologies, establish flash shops-small exhibit stores showcasing our products-and utilize our fleet of trucks with continuous LED backlit screens to advertise our offerings.
These strategies are designed to enhance our market presence, drive growth, and ensure a successful expansion across the U.S.
Monetization of Beneway USA Investment
SUIC Worldwide Holdings and Beneway USA will begin presentations in August for Beneway's pre-IPO fundraising as its initial public offering approaches. The S-1 and IPO represent an excellent opportunity for SUIC Worldwide Holdings to monetize its ownership stake in Beneway USA. The S-1 and IPO financing, with its potential to support Beneway USA' aggressive expansion into U.S. suppliers, distribution channels, and kitchen and food processing facilities, is a cause for excitement and optimism about the future.
The S-1 registration statement is a critical milestone in the IPO process, providing detailed information about Beneway USA' business operations, financial condition, and management. This transparency builds investor confidence and sets the stage for a successful public offering. The IPO will enable Beneway USA to access new capital, facilitating strategic growth initiatives and increasing market penetration. For SUIC Worldwide Holdings, this translates into a significant opportunity to unlock value and realize substantial returns on investment. The IPO is not just a financial event; it's a pivotal moment that underscores the robust potential and strategic direction of Beneway USA, promising a bright and prosperous future for all stakeholders involved.
Looking ahead, we remain committed to driving innovation and growth, leveraging our strategic investments and partnerships to create value for our shareholders and customers. We appreciate the continued support of our shareholders, customers, vendors, and partners and look forward to a successful year ahead.
About SUIC Worldwide Holdings Ltd., USA
SUIC Worldwide Holdings Ltd. provides research and development, venture financing for and investing in private enterprises and the public sector that develops products and services adopting core capabilities of the Internet of Things, cloud computing, mobile payment, big data, blockchain, and artificial intelligence, to enhance and streamline existing processes, and establish new and exciting business models that will create revolutionary products and services. Shareholders of SUIC will be exposed to the diverse application of advanced services in various parts of the economy. Additionally, existing and potential customers can benefit from this company's diversified portfolio of technologies. As one of the pioneering publicly traded technology companies, SUIC will help build tech-enabled businesses of the future. To learn more, please visit www.sinounitedco.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release is considering all Company filings contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact
SUIC Worldwide Holdings Ltd.
News Release Department
929-391-2550
SOURCE: SUIC Worldwide Holdings Ltd.
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