Yummy Town Holdings Corp (雅茗天地), which operates three bubble tea brands in China, is set to list on Taiwan’s over-the-counter market in the second half of this year, the company said yesterday.
“We plan to list the company in Taiwan [on the GRETAI Securities Market] to build up brand awareness,” group chairman Albert Wu (吳伯超), a Taiwanese, told a media briefing.
After launching its first tea house in Taiwan in the middle of this year, the group plans to open between 10 and 15 new stores under the brand HappyLemon before the end of the year, Wu said.
Yummy Town, which is registered in the Cayman Islands with NT$250 million (US$8.35 million) in capital, currently runs more than 450 tea houses in 40 cities in China under three brands — R.B.T. Tea Cafe, Happy Lemon and Freshtea.
The group has also set up stores in Singapore, Thailand, the Philippines, Canada and Australia.
Wu said the group may gradually open tea houses under the other two brands in Taiwan in the near future and that it is ready to expand its international reach by launching new stores in the US and Europe later this year.
Following its GRETAI listing, Yummy Town plans to look for more business partners for its near-term expansion in the US and Europe, he added.
The EU and US are nearing an agreement to coordinate on producing and securing critical minerals, part of a push to break reliance on Chinese supplies. The potential deal would create incentives, such as minimum prices, that could advantage non-Chinese suppliers, according to a draft of an “action plan” seen by Bloomberg. The EU and US would also cooperate on standards, investments and joint projects, as well as coordinate on any supply disruptions by countries like China. The two sides are additionally seeking other “like-minded partners” to join a multicountry accord to help create these new critical mineral supply chains, which feed into
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
Japan approved ￥631.5 billion (US$3.97 billion) in additional subsidies to hasten Rapidus Corp’s entry into the high-stakes artificial intelligence (AI) chipmaking arena, ramping up support for a project widely regarded as a long shot. The capital is intended to bankroll Rapidus’ work for information technology firm Fujitsu Ltd, one of the initial customers that Tokyo hopes would get the signature endeavor off the ground. The new money raises the fees and investments that the government is injecting into the start-up to ￥2.6 trillion by the end of the current fiscal year to March next year, the Japanese Ministry of Economy, Trade and
The founder of Chinese property giant Evergrande Group (恆大集團) has pleaded guilty to charges of fraud and bribery, a court said yesterday, the latest blow for what was once the country’s leading developer. Evergrande’s rise was propelled by decades of rapid urbanization and rising living standards, but in 2020, its access to credit dramatically narrowed when the government introduced curbs on excessive borrowing and speculation. The company defaulted in 2021 after struggling to repay creditors. Founder Xu Jiayin (許家印), 67, known as Hui Ka Yan in Cantonese, was reportedly held by police in 2023, with Evergrande saying he had been subjected to
RSS