SUIC's I.Hart Group Signed MONGA Fried Chicken Franchise Authorization to Shandong and Japan With Commitments for 10 Stores in 2024, 300 Stores Within 5 Years

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SUIC's I.Hart Group Signs MONGA Fried Chicken Franchise Authorization to Shandong and Japan, with Commitments for 10 Stores in 2024 and 300 Stores Within 5 Years, Expanding Presence in Asia

Positive

• Signing of franchise authorizations between I.Hart Group Taiwan and MONGA Fried Chicken in Shandong Province, China, and Japan.
• Shandong committed to opening 10 stores in the first year and 300 stores within 5 years.
• Total of 200 stores in 2024 and over 500 stores in the next 5 years across 11 countries.
• Expansion into high-growth markets in Asia, with a focus on long-term growth opportunities.
• Collaboration with Shandong and Tokyo to operate in multiple cities with large populations and strong economic potential.
• SUIC's dedication to franchise development and global expansion efforts to serve more customers worldwide.

Negative

• None.

SUIC and I.Hart eye more high-growth markets in Asia which offers by far the largest long-term growth opportunity in global food industry

NEW YORK, NY and TAIPEI, TAIWAN / ACCESSWIRE / April 16, 2024 / SUIC Worldwide Holdings Ltd. (OTC:SUIC) announces the signing of franchise authorizations between I.Hart Group Taiwan and MONGA^© Fried Chicken in Shandong Province, China and in Japan. These authorizations will grow the companies' presence across 11 countries with a total of 95 stores. Shandong has committed to open 10 stores on the first year and 300 stores within 5 years thereafter. Under these new franchises, SUIC and I.Hart Group will have a total of 200 stores in 2024 and over 500 stores over the next 5 years.

The franchise authorizations to Shandong cover 16 cities all over the province, which is the 2nd largest province in China with a total population of over 100 Million. I.Hart and the Shandong Authorized company will work jointly to operate in these locations with an expansive network of at least 50 franchise owners each year, but expects the actual numbers can be higher.

The franchise authorizations to Tokyo also cover its surrounding satellite cities, with a population of 38 million people, making it the largest metropolitan area in the world. Tokyo's GDP ranks second in the world. It is the most important world-class city in Asia and traditionally, is one of the four world-class cities in the world. It ranks among the top four in the Global City Index.

"SUIC is the biggest investor, shareholder and major operating partner of Beneway USA. We dedicate our team and resources to the success and expansion of our franchise development efforts and global transformation journey. We will continue to increase this momentum in 2024 and find opportunities in serving more customers around the world, growing our footprint in the global food market by tenfold." said Hank Wang, CEO.

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 develop 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

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SOURCE: SUIC Worldwide Holdings Ltd.

View the original press release on accesswire.com

FAQ

How many stores are committed to opening in Shandong in the first year?

Shandong has committed to opening 10 stores in the first year.

How many stores are expected to open in Shandong within 5 years?

Shandong has committed to opening 300 stores within 5 years.

How many total stores will SUIC and I.Hart Group have in 2024?

SUIC and I.Hart Group will have a total of 200 stores in 2024.

How many total stores will SUIC and I.Hart Group have in the next 5 years?

SUIC and I.Hart Group will have over 500 stores in the next 5 years.

What is the focus of SUIC and I.Hart Group's expansion?

SUIC and I.Hart Group are focusing on expanding their presence in high-growth markets in Asia.