- In February 2024, SUIC’s I.Hart Group signed an agreement with Taiwan’s largest convenience store chain, 7-Eleven Group, to distribute I.Hart’s Monga fried chicken
- That same month, SUIC and I.Hart announced the grand opening of their fourth Monga fried chicken store in Hong Kong. In tandem with the Hong Kong opening, SUIC and I.Hart announced the rollout of six Monga outlets in Fujian, China, and plans to open hundreds of Monga outlets in the U.S.
- The company’s fintech group has nine revolutionary patents with several ALL-IN-ONE products; its fintech section is fast-growing with increasing market share, and its fintech R&D group is working on revolutionary new platforms to support and finance its global merchants and franchisees
SUIC Worldwide Holdings (OTC: SUIC) provides research and development, venture financing and investment for private and public companies that develop products and services in the areas of Internet of Things, cloud computing, mobile payments, Big Data, blockchain, artificial intelligence and global franchising. The company seeks to enhance and streamline existing processes and establish new and exciting business models that will create revolutionary products and services.
SUIC is the largest shareholder and major operating partner of Beneway Holdings Group. The I.Hart Group, a subsidiary of Beneway, currently operates 150 global franchised locations under a variety of brands. It is working on integrating more successful brands into its family in Asia, such as Thai food, Hainan chicken and Asia-style BBQ skewers, and targeting 25 different brands to enter the U.S. franchise market in all 50 states. It is replicating its successful multi-branding business model and teaming up with top U.S. franchise marketing and sales agencies to expand and achieve its target of 750 franchises in the near future.
The company is headquartered in Flushing, New York, with offices in San Francisco, Taiwan and Malaysia.
Portfolio
SUIC works with Beneway in several business ventures, with focus on the following:
- Fintech – Through Boom Fintech, the major subsidiary of Beneway USA, the company holds nine revolutionary fintech patents. Boom Fintech integrates payment systems, electronic invoice devices, mobile cash registers, POS system devices and ERP, as well Big Data + AI and other services, to ALL-IN-ONE products that provide standardized intellectual property that’s modular to all industries, from chain department stores to night market vendors. Beneway Holdings Group connects borrowers and lenders, building strategic partnerships by bridging the various stakeholders to provide a holistic financial delivery ecosystem and to integrate advanced systems and finance its global merchants and franchisees.
- Food Industry Supply Chain Integration – SUIC and Beneway will partner with international trade financiers to support the huge demand for raw material import/export between the U.S. and Asia. SUIC and Beneway are looking to raise funds from an IPO and the capital markets to support mergers and acquisitions of U.S. mid- and upper-stream food industry suppliers.
- Global Franchise Expansion – Through I.Hart catering group, SUIC and Beneway are working to bring reputable and distinguished overseas food product brands to the U.S. and around the world. It is targeting 25 different brands to enter the U.S. franchise market in all 50 states, replicating its successful multi-branding business model in the U.S. It is also teaming up with several densely populated provinces and countries for aggressive execution of its global franchise expansion.
- Other Supply Chain Integration – Beneway has identified several additional industries for future expansion, including medical and health care, high-tech digital AI systems, environmental protection and energy-related production.
Market Opportunity
An analysis by Growth Market Reports, a full-service market research and business consulting organization, estimated that the value of the global Asian food market was $437.15 billion in 2022. The market value is projected to reach approximately $805.08 billion by 2031, expanding at a CAGR of 7.1% during the forecast period.
Asian cuisine is well known for its diversity, with a wide range of flavors, ingredients and cooking techniques influenced by various factors such as climate, geography, history and cultural practices. The report states that Asian food outlets are expanding at a tremendous rate in the U.S. and Europe due to rising consumer demand. Demand is driven by various factors, including the growing interest in global authentic flavors and the nutritional benefits that Asian food offers. Consumers have become increasingly exploratory with their food choices, according to the report.
While Chinese and Japanese (including sushi) restaurants are nearly ubiquitous in North American and European cities, other Asian cuisines, including Thai, Indian, Korean and Vietnamese, may be less familiar outside metro areas, presenting further growth opportunities. In addition, demand for Asian cuisine has increased due to a rapid shift toward healthy eating habits and rising Asian immigrant populations in Western countries, according to the report.
Management Team
Hank Wang is CEO of SUIC. Since 2018, he has served as CEO of the I.Hart Group. Prior to joining I.Hart, he was Secretary General of Taiwan Quantitative Hedging Development Association. He graduated from Tamkang University in Taiwan with a Bachelor of Finance degree.
Elena Lin is associate CFO of SUIC. She previously served as CEO of Monga Chicken. In 2015, she was recognized as one of Taiwan’s Top 100 Managers of the Year. She holds a master’s degree from the Kaohsiung University of Hospitality and Tourism’s Institute of Food Culture and Catering Innovation in Taiwan.
Elton Han is associate CTO of SUIC. He is also currently Director of Food and Beverage Development for the I.Hart Group. He also holds a position with the Taiwan International Young Chefs Association. He previously served as Executive Chef of Hanbilou, Huashan Guanzhi, Daye Group.
For more information, visit the company’s website at www.SinoUnitedCo.com.
NOTE TO INVESTORS: The latest news and updates relating to SUIC are available in the company’s newsroom at https://ibn.fm/SUIC
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