Keith Wu, Executive Director and Chief Operation Officer of Tsit Wing International Holdings, has served Tsit Wing for almost 15 years of his 22-year career. Tsit Wing, a leading integrated business-to-business coffee and black tea solutions provider with an 87-year history, provides as many as 60% of Hong Kong’s coffee and tea solutions.
Education and Professional Qualifications
Wu was Hong Kong born and educated. He holds a Postgraduate Certificate in Sustainable Value Chains from the University of Cambridge, a Master’s degree in Corporate Governance from The Hong Kong Polytechnic University and a Bachelor’s degree in Accountancy from the City University of Hong Kong. He is a fellow member of the Hong Kong Institute of Certified Public Accountants, a fellow member of The Hong Kong Institute of Chartered Secretaries and a fellow member and Certified Tax Adviser of The Taxation Institute of Hong Kong. Wu also holds several positions in social organizations and serves as visiting lecturer at universities.
Career – From a Specialist to an All-rounder
After gaining extensive educational qualifications and several years of experience in one of the “Big Four” – Deloitte Touché Tohmatsu – and Hongkong International Terminals (under Hutchison Whampoa), Wu joined Tsit Wing as a management accountant. Over the years, he has taken part in many of the company’s milestone projects, serving as CFO during the Singapore listing period, participating in privatization (a trademark legal case) and re-listing in Hong Kong last year. He also played a role in the business expansion from Hong Kong to mainland China with the development of an integrated service centre of 73 hectares in Dongguan.
During his time at Tsit Wing, Wu has learned professional management from the company, his boss and his mentor, Peter Wong Tat Tong, Executive Director, Chairman of the Board and Chief Executive Officer of Tsit Wing. Mr Wong is a member of the third generation of the family business who has been with the company for 41 years.
Seizing every chance that the company gave him and arming himself with knowledge to overcome difficulties, Wu’s hard work brought him to where he is now. From an auditor to COO, the journey helped him develop from a specialist into an all-rounder.
Expansion of Tsit Wing – From Hong Kong to the Greater Bay Area
In 2011, Tsit Wing purchased 73 hectares of land in Dongguan. The land connected Guangzhou and Shenzhen. Its purchase was driven by the need for an one-hour travel zone, before the Guangdong-Hong Kong-Macao Greater Bay Area initiative was announced.
The company’s mainland business, presently covering first-tier cities, such as Beijing, Shanghai, Guangzhou, Shenzhen and Dongguan, has grown dramatically, rising from 5% to 6% of its total business ten years ago to approximately 25% today.
Today, Tsit Wing is not merely a tea and coffee expert in Hong Kong. Cultivating a spirit of craftsmanship, Wu is leading Tsit Wing to achieve its vision of becoming a world class integrated food and beverage service provider.
Food and beverage is a sunrise industry supported by rigid demand, consumption upgrading and a higher need for food safety and quality, especially with the growth of cities in the Greater Bay Area. In terms of its geographic strategy, the company plans to focus more on southern China and the Greater Bay Area. It will also launch its online selling platform in 2020 to further expand business in the mainland.
Products and Services
Tsit Wing provides one-stop coffee and tea solutions for commercial customers. Its solutions cover the procurement, processing, value chain and distribution of coffee and tea, with particular expertise in Hong Kong-style milk tea. Presently, it has over 6,000 clients with which it intends to maintain long-term relationships.
The company makes 253.2 to 337.7 million cups of coffee and 302.4 to 403.2 million cups of milk tea per year. Daily delivery to approximately 750 locations in Hong Kong is made via 11 vehicles.
The company expanded its business scope to start up a frozen meat business in Hong Kong and mainland China in 2013. It also established a frozen processed food business in Hong Kong and mainland China in 2015 and 2016 respectively.
Suggestions for the Young Generation
Wu graduated in 1997, immediately before the Asian financial crisis. Although there were few job vacancies at that time, he says, “There are always opportunities and what’s important is how you equip yourself to embrace them”. Furthermore, one’s major at university offers an entry point to society.
Opportunities are everywhere and it is vital to embrace them. Based on the business chances he sees and his many years of experience, Wu urges young people to seize the opportunities to grow afforded by the Greater Bay Area initiative. They should learn more about the area, participate in and experience its development and understand why they should invest their time and resources in it.
Drawing on the company’s resources, Wu creates opportunities for members of the young generation to enhance their development and experience. Tsit Wing’s coffee tasting trip project, launched last year in cooperation with professional travel agencies, brings coffee lovers together to experience global coffee and culture. The company has also collaborated with the Hong Kong Vocational Training Council to organize coffee making and tasting courses for the public.
