NEW YORK, NY and TAIPEI, TAIWAN / ACCESSWIRE / May 25, 2021 / Sino United Worldwide Consolidated Ltd. (OTC PINK:SUIC) is pleased to announce that is has signed a memorandum of understanding with Suntech Co. Ltd., Taiwan's largest O2O payment company. SUIC will acquire 51% of the issued and outstanding stock of Suntech for cash.
Founded in 1998, Suntech is renowned as a leader in the third-party electronic payments industry, forging over 50,000 special merchant relationships, with a following of more than ten million users and a turnover rate of one billion in the past two decades, it has achieved an influential reputation that is built on decades of delivering innovation and high-quality service to its clients and partners.
SUIC and Suntech are very excited to forge a new family, a forceful synergy of experts in Fintech. SUIC welcomes this acquisition opportunity that forms part of its advancement strategy and which will provide SUIC and its partners an enduring foothold in an important growth market with high barriers to entry. Suntech team is significantly proficient with local knowledge and established relationship and existing contracts with leading Fintech companies and partners.
This fintech partnership will bring together SUIC and Suntech's corresponding cultural and operational principles and methods, committed to sustainable development towards global expansion, transforming supply chain financing with digital advancements in supply chain operations overall. SUIC and Suntech will apply the power of blockchain to connect a selection of counterparties in the supply chain, including financial institutions, corporate customers, credit insurers, logistics companies, payment providers to enable the exchange of assets and data that will make for a more straightforward financing.
About Suntech Co. Ltd.
Suntech Co. Ltd. was established in 1998 and is the pioneer in and the largest third-party payment service in Taiwan. It offers online stored value payment and offline stored value payment services and facilitates online E-commerce payments and collection services. It provides credit card, debit card, supermarket collection, supermarket cash pickup and cash delivery, overseas collection, Swipy mobile APP, mobile payments, mobile group merchant platform, marketing services in hypermedia computer-mediated environments, etc. among its fintech services. To learn more about Suntech Co. Ltd., please visit their website at https://www.sunpay.com.tw/.
About Sino United Worldwide Consolidated Company, USA
The Sino United Worldwide Consolidated Company 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
Certain the information set forth herein contains "forward-looking information", including "future-oriented financial information"; and "financial outlook" under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development, or otherwise under consideration; (vi) renewal of the Company's current agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained herein are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Contacts
Sino United Worldwide Consolidated Ltd.
New Release Department
929-391-2550
SOURCE: Sino United Worldwide Consolidated Ltd.