Lian Fa International Dining Business

What Lian Fa International Dining Business does

Lian Fa International Dining Business (聯發國際餐飲事業股份有限公司) is a Taiwan-headquartered multi-brand food and beverage franchise platform, publicly listed on the Gre Tai Securities Market (stock code 2756) since its IPO on January 14, 2022. The company's origins trace to founder Chairman Cheng Kai-Long (鄭凱隆), who established the Sharetea (歇腳亭) brand in 1992 as a take-away tea shop in Taipei. The parent holding company Lian Fa International was incorporated in 2004 to internationalize the brand, and the group now operates or supports more than 500 franchise stores across 5 continents and 13+ countries, including the USA, Canada, Hong Kong, Singapore, Malaysia, Dubai, Kuwait, Czech Republic, Egypt, and Australia. The US is the single most important market, with 124 stores across 21 states and the #1 market share position among Taiwan-origin bubble tea brands.

The brand portfolio spans four concepts: Sharetea as the flagship hand-shaken tea beverage brand using Taiwan-origin tea leaves; UG uni green, a tea brand emphasizing convenience, sustainability, and modern lifestyle positioning; MAMAK檔星馬料理, a multi-ethnic Malaysian/Singaporean cuisine concept; and 甘榜馳名海南雞飯, a Hainanese chicken rice chain. Revenue mechanics combine franchise fees and royalties, recurring supply chain sales of proprietary ingredients, beverage bases, and packaging materials to franchisees, plus direct sales from company-owned flagship stores in Taiwan and other key markets. Pricing in Taiwan ranges from promotional 20 TWD bubble tea up to ~70 TWD premium fruit teas, while US pricing is positioned at a premium relative to mainstream coffee chains. Distribution also extends into convenience retail through co-branded products (e.g., Caramel Brulee ice cream bars distributed via FamilyMart in Taiwan).

In 2025 the company formally launched its "Four Flywheel Strategy," explicitly positioning tea business, food business, overseas market expansion, and a supply chain platform as four parallel growth engines. North America (predominantly the US) currently accounts for roughly 58% of revenue, with the US store base targeted for 30%+ annual growth. The company sells roughly 8 million cups of bubble tea per month globally at pre-pandemic run-rate, reported 2021 revenue of NT$817M (+27% YoY), 2022 Q1–Q3 revenue of NT$603M with net profit of NT$122M (+42.8% YoY), and 2025 first-five-months revenue of NT$501M, a historical high.

Name

Lian Fa International Dining Business

Legal name

聯發國際餐飲事業股份有限公司

Website

https://1992lianfa.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Lian Fa International Dining Business is a Taiwan-listed multi-brand food and beverage franchise operator, best known for its flagship Sharetea bubble tea brand. It runs 500+ stores across 5 continents and 13+ countries, monetizing through franchise royalties, supply chain sales to franchisees, and direct stores.

Ownership category

akta.pro rank

Product category

Bubble Tea and Asian Quick-Service Restaurant

NAICS

Beverage Manufacturing (3121), Limited-Service Restaurants (722513)

SIC

Beverages (2080), Retail-Eating Places (5812)

akta.pro industry

PRIMARYCRAFACAD

Food & Beverage DTC

Consumer Products & Retail/E-commerce & Marketplaces/Direct-to-Consumer (DTC) Brand E-commerce

SECONDARYAFAKAHAG

Ethnic & international prepared meals manufacturing

Agriculture & Food Production/Food Processing & Manufacturing/Prepared Meals, Ready-to-Eat & Convenience Foods Manufacturing

Keywords

• Bubble tea retail
• Tea beverage brands
• Franchise restaurant operations
• Asian food service
• Beverage chain stores

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Franchise Revenue: The company generates primary revenue through franchise fees and royalties from its global network of over 500 stores across 5 continents. Franchise revenue includes initial franchise fees, ongoing royalties, and supply chain sales to franchisees.
2. Direct Store Sales: Revenue from company-owned direct stores in Taiwan and key markets. Direct store sales contribute to overall revenue alongside franchise operations.
3. Supply Chain and Ingredients: The company supplies proprietary ingredients, beverage bases, and packaging materials to franchisees globally, creating a recurring revenue stream from the supply chain.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Lian Fa International Dining Business operates a multi-brand food and beverage platform centered on its flagship Sharetea (歇腳亭) hand-made bubble tea brand, complemented by UG uni green tea brand and MAMAK檔星馬料理 Malaysian/Singaporean cuisine restaurants. The company sells beverages and food directly through company-owned stores in Taiwan and supplies its franchise network of 500+ stores across 5 continents with proprietary ingredients, packaging, and operational systems in exchange for franchise fees, royalties, and supply chain sales.

Product overview

Lian Fa International Dining Business operates as a multi-brand food and beverage platform under the parent company 聯發國際餐飲事業股份有限公司. The portfolio centers on Sharetea 歇腳亭 as the flagship hand-made tea beverage brand, supplemented by UG uni green for health-conscious tea consumers, and MAMAK檔星馬料理 for authentic Malaysian/Singaporean cuisine. The company also owns the 甘榜馳名海南雞飯 sub-brand. With operations spanning 5 continents and over 500 stores globally, the company focuses on overseas expansion with the United States as its primary market, while also developing food service and supply chain platform business lines as part of its 'Four Flywheel Strategy.'

Differentiator

Problem solved

Functional benefit

Brands

• Sharetea歇腳亭: 主要茶飲品牌，以台灣高品質茗茶為基礎，結合創新世界茶飲，販售珍珠奶茶等飲品。
• UG uni green
• MAMAK檔星馬料理
• 甘榜馳名海南雞飯

Products and services

• Sharetea 歇腳亭 Hand-Made Bubble Tea Hand-shaken bubble tea beverages made with Taiwan-origin tea leaves, sold through a global network of 500+ stores across the US, Canada, Hong Kong, Singapore, Dubai, Egypt, Czech Republic, Australia, and other markets. Sharetea is the #1 Taiwan bubble tea brand by market share in the United States with 124 stores across 21 states.
• UG uni green Tea Brand Tea beverage brand targeting consumers who seek convenience, fashion, innovation, and zero-burden choices in modern fast-paced life, inspired by the cultural heritage of tea leaves.
• MAMAK檔星馬料理 Malaysian/Singaporean Cuisine Multi-ethnic and multicultural Malaysian cuisine restaurant brand focused on delivering joy, delicious food, and ethnic characteristics through dishes such as roti, nasi lemak, and Southeast Asian specialties.
• 甘榜馳名海南雞飯 (Kampong Hainanese Chicken Rice) Malaysian-style Hainanese chicken rice sub-brand offering authentic Kampong-style chicken rice as part of the Lian Fa multi-brand F&B portfolio.
• Sharetea / UG Franchise Program Franchise offering providing entrepreneurs and business operators with brand rights, operational training, supply chain support, R&D assistance, and marketing resources to establish Sharetea or UG stores in their local markets; primary growth vehicle for international expansion with 500+ franchisee locations.
• Lian Fa Supply Chain Platform Proprietary ingredient, beverage base, and packaging supply distribution business serving all franchise locations globally, creating a recurring revenue stream from the supply chain.

Quantifiable outcome

• Revenue growth of 27% YoY in 2021, reaching 817 million TWD
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core, secondary and minor.

• 小美冰淇淋 (Xiao Mei Ice Cream)coreStrategic or Co-development Partner · 4 May 2022Product collaboration to launch co-branded ice cream products. Sharetea partnered with小美冰淇淋 to create '焦糖布蕾雪糕' (Caramel Brulee Ice Cream Bar), a three-layer ice cream featuring caramel shell, pudding milk, and soft caramel filling. The product was exclusively sold at FamilyMart stores across Taiwan starting May 4, 2022. Price was 49 TWD per bar with promotional pricing of 79 TWD for two bars.
• 檀島香港茶餐廳 (Hudong Hong Kong Cha Chaan Teng)secondaryGTM or Marketing Partner · 10 November 2021MAMAK檔星馬料理 partnered with檀島香港茶餐廳 for cross-brand promotional collaboration. The partnership created limited-edition food items like '暗煉菠蘿油' (Dark Caramelized Pineapple Bun) combining Southeast Asian and Hong Kong flavors. Items were available from November 10 to December 31, limited to 15 pieces per day.
• 板橋凱撒大飯店 (Caesar Park Banqiao)minorGTM or Marketing Partner · 1 October 2021Marketing collaboration to create a '五星零食套房' (Five-Star Snack Theme Room) at the hotel. The partnership offered a unique hotel experience featuring Sharetea and MAMAK檔 branded snacks, collectible merchandise, and food items. The promotion was a limited-time only campaign with complimentary stay and branded gifts for winners.
• 104人力銀行 & 1111人力銀行 (104 & 1111 Job Banks)minorOthersRecruitment partnerships with major Taiwan job banks for talent acquisition. The company uses these platforms to recruit employees for both headquarters and store operations.

Scale indicators11 records

Recent moves1 record

Expansion highlights2 records

Direct peers

• KOI Thé: Taiwan-origin bubble tea brand with operations across Asia and the US; comparable premium tea franchise peer.
• Gong Cha (貢茶): Taiwan-origin bubble tea chain with significant global footprint; competes head-to-head with Sharetea in the US and Asian markets.
• Tiger Sugar (老虎堂): Taiwan-origin premium bubble tea brand aggressively expanding in North America and Asia; competes directly with Sharetea for premium tea drinkers.
• Happy Lemon (雅茗-KY, ya-sin): Taiwan-listed bubble tea and beverage brand operator with global franchise presence; directly comparable franchise-driven tea beverage business model.
• The Alley (鹿角巷): Taiwan-origin bubble tea chain with strong brand identity and growing global footprint; directly comparable Taiwan-tea franchise peer.
• CoCo Bubble Tea: Major Taiwanese bubble tea brand with thousands of global stores; direct competitor in the same bubble tea franchise category.
• Kung Fu Tea: US-headquartered bubble tea franchise with hundreds of stores; competes with Sharetea for North American bubble tea share and franchisees.
• Ten Ren Tea (天仁茗茶): Heritage Taiwanese tea brand with retail stores and tea product manufacturing; comparable as a Taiwan-origin tea brand with physical retail presence.
• La Kaffa International (Chatime parent, 六角國際): Taiwan-listed operator of the Chatime global bubble tea franchise with hundreds of international stores; closest direct competitor to Sharetea in scale, franchise model, and Taiwan origin.

Broad incumbents

• Starbucks: Global premium beverage incumbent with pricing benchmarks the company explicitly references (Sharetea US pricing above Starbucks); broad incumbent rather than direct bubble tea competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/shareteacafe
• LinkedInlinkedin.com/company/lian-fa-international-dining-business

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lian Fa International Dining Business