Core Insights - Lakeside Holding Limited has announced a strategic distribution agreement with Sichuan Huiyu Pharmaceutical Co., Ltd. to distribute oncology and immunotherapy drugs [1][3] - Huiyu Pharmaceutical is recognized for its innovative therapies and strong R&D capabilities, particularly in oncology [2] - The flagship product of Huiyu Pharmaceutical, Pemetrexed Disodium for Injection, is approved in major markets and is effective in treating non-small cell lung cancer and malignant pleural mesothelioma [3] Company Overview - Lakeside Holding Limited is a U.S.-based cross-border supply chain solution provider focused on the Asia-Pacific market [5] - The company operates through two subsidiaries: American Bear Logistics and Hupan Pharmaceutical (Hubei) Co., Ltd., providing tailored logistics solutions [5] - American Bear Logistics connects Asia-based logistics service companies and e-commerce platforms with the U.S. market through strategic hubs [6] Strategic Developments - The acquisition of Hupan Pharmaceutical enhances Lakeside's pharmaceutical logistics and distribution capabilities within China [7] - The partnership with Huiyu Pharmaceutical aims to improve patient outcomes by providing reliable distribution channels for therapies [4]

Agreement to Deliver Critical Medicines  ITASCA, Ill., Dec. 17, 2024 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based cross-border supply chain solution provider with a unique focus on the Asia-Pacific market is pleased to announce that Hupan Pharmaceutical has signed a Sales Agreement (the "Agreement") with Sinopharm Holding Hubei New Special Medicine Co., Ltd. ("Sinopharm Hubei"), a subsidiary of Sinopharm Group. The Agreement, valued at approximately RMB ...

ITASCA, Ill, Dec. 3, 2024 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics ("ABL"), today announced it will be presenting at The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference to be held Wednesday, December 11th, 2024 at the New York Athletic Club in New York City.The conference offers e ...

Revenue Performance - Total revenues for Q1 2025 decreased by $66,922, or 1.6%, to $4,081,554 compared to $4,148,476 in Q1 2024[2] - Revenue from cross-border airfreight solutions decreased by $0.2 million, or 8.2%, to $2.2 million, driven by a volume drop from approximately 7,816 tons to 7,273 tons[3] - Revenue from cross-border ocean freight solutions increased by $0.1 million, or 7.8%, to $1.8 million, with volume rising from 1,290 TEU to 1,430 TEU[4] - Revenues from Asia-based customers increased by $1.1 million, or 65.8%, to $2.8 million, while revenues from U.S.-based customers decreased by $1.2 million, or 48.2%, to $1.3 million[5][6] - Total revenue for September 2024 was $4,081,554, a decrease of 1.6% from $4,148,476 in September 2023[18] Profitability - Gross profit decreased by $0.1 million, or 19.3%, to $0.5 million, with a gross margin of 12.8% compared to 15.6% in the prior year[7] - Gross profit for September 2024 was $522,539, down from $647,543 in the same period last year, reflecting a gross margin of approximately 12.8%[18] - The company incurred a loss from operations of $1,327,504 in September 2024, compared to a loss of $333,508 in September 2023[18] - Net loss for Q1 2025 was $1.3 million, compared to a net loss of $0.3 million in Q1 2024[10] - The net loss for September 2024 was $1,335,407, compared to a net loss of $307,285 in September 2023, indicating a worsening financial position[18] Expenses - General and administrative expenses increased by $1.0 million, or 114.7%, to $1.8 million, representing 45.0% of total revenues[8] - Operating expenses increased significantly to $1,850,043 in September 2024, compared to $981,051 in September 2023, primarily due to higher general and administrative expenses[18] Cash and Assets - Cash and cash equivalents at the end of September 2024 were $2,739,275, a substantial increase from $205,552 at the end of September 2023[19] - Total current assets rose to $5,830,904 as of September 30, 2024, compared to $3,539,772 as of June 30, 2024[17] - The company reported a significant increase in accounts receivable from third parties, totaling $1,786,451 as of September 30, 2024, compared to $2,082,152 in the previous period[17] Liabilities - Total liabilities decreased to $7,191,538 as of September 30, 2024, down from $8,553,967 as of June 30, 2024[17] Future Outlook - The company anticipates a rebound in revenue for the next quarter due to increased air freight demand for the holiday season[10] - The company expanded its Dallas-Fort Worth operations, more than doubling its space to 46,657 sq. ft. to meet growing demand[15] Share Information - The weighted average shares outstanding increased to 7,500,000 in September 2024 from 6,000,000 in September 2023, impacting the loss per share which was $0.18[18] - The company closed an initial public offering of 1,500,000 shares at a price of $4.50 per share, raising gross proceeds of $6,750,000[11]

Revenue Performance - For the three months ended September 30, 2024, total revenues decreased by $66,922, or 1.6%, to $4,081,554 compared to $4,148,476 for the same period in 2023[189]. - Revenue from cross-border ocean freight solutions increased by $132,934, or 7.8%, to $1,836,591, representing 45.0% of total revenues for Q3 2024[188]. - Revenue from cross-border airfreight solutions decreased by $199,856, or 8.2%, to $2,244,963, accounting for 55.0% of total revenues for Q3 2024[188]. - Total revenues decreased by $66,922, or 1.6%, from $4,148,476 in Q3 2023 to $4,081,554 in Q3 2024, with Asia-based customer revenues increasing by $1.1 million, or 65.8%, while U.S.-based customer revenues decreased by $1.2 million, or 48.2%[193]. - Revenues from cross-border airfreight solutions decreased by $0.2 million, or 8.2%, from $2.4 million in Q3 2023 to $2.2 million in Q3 2024, due to a volume drop from approximately 7,816 tons to 7,273 tons[190]. - Revenues from cross-border ocean freight solutions increased by $0.1 million, or 7.8%, from $1.7 million in Q3 2023 to $1.8 million in Q3 2024, driven by an increase in volume from 1,290 TEU to 1,430 TEU[191]. Profitability and Loss - Gross profit for the three months ended September 30, 2024, was $522,539, a decrease of $125,004, or 19.3%, from $647,543 in Q3 2023[189]. - Gross profit decreased by $0.1 million, or 19.3%, from $0.6 million in Q3 2023 to $0.5 million in Q3 2024, with a gross margin decline from 15.6% to 12.8%[198]. - The net loss for the three months ended September 30, 2024, was $1,335,407, compared to a net loss of $307,285 for the same period in 2023[187]. - Loss before income taxes was $1.2 million for Q3 2024, compared to a loss of $0.3 million in Q3 2023, attributed to decreased gross profit and increased operating expenses[207]. - Net loss increased to $1.3 million in Q3 2024 from $0.3 million in Q3 2023[209]. Operating Expenses - Operating expenses increased significantly to $1,850,043 in Q3 2024, compared to $981,051 in Q3 2023, primarily due to higher general and administrative expenses[187]. - General and administrative expenses increased by $1.0 million, or 114.7%, from $0.9 million in Q3 2023 to $1.8 million in Q3 2024, representing 45.0% of total revenues[199]. Cash Flow and Investments - Net cash used in operating activities was $1,402,784 for the three months ended September 30, 2024, compared to a net cash provided of $40,357 for the same period in 2023, reflecting a significant increase in net loss[215][216]. - The increase in cash used in operating activities of $1,443,141 was primarily due to a net loss increase of $1,028,122 and a $641,637 increase in cash outflow from working capital[217]. - Net cash used in investing activities was $38,279 for the three months ended September 30, 2024, down from $78,799 in the same period in 2023, primarily due to purchases of property and equipment[218]. - Net cash provided by financing activities was $4,044,402 for the three months ended September 30, 2024, a substantial increase from $66,760 in the prior year, mainly due to net proceeds of approximately $5,351,281 from an offering[218]. - Capital expenditures amounted to $38,279 for the three months ended September 30, 2024, compared to nil in the same period in 2023, indicating an increase in investment in fixed assets[220]. - The company expects capital expenditures to increase in the future, funded by existing cash balances and proceeds from loans and the IPO closed in July 2024[221]. Assets and Liabilities - As of September 30, 2024, cash and cash equivalents were $2.7 million, with current assets of $5.8 million and current liabilities of $4.4 million, resulting in a current ratio of 1.3:1[210]. - Accounts receivable net of allowance decreased from $2.8 million as of June 30, 2023, to $2.3 million as of September 30, 2024, with a credit loss allowance of $66,903[211]. - Total contractual obligations as of September 30, 2024, amounted to $5,763,202, with operating lease obligations of $5,104,017[222]. - The company reported no off-balance sheet arrangements that could materially affect its financial condition or results of operations as of September 30, 2024[223]. Internal Controls and Management - Management identified material weaknesses in internal controls over financial reporting, including inadequate segregation of duties and insufficient written policies[236]. - The company plans to address identified weaknesses by hiring additional accounting staff and implementing formal procedures and controls for financial reporting[237]. Business Operations - The company has fulfilled over 45,000 cross-border supply chain solution orders with an aggregate assessed value of $1.0 billion as of September 30, 2024[170]. - The company operates three regional warehousing and distribution centers in the U.S. with a total gross area of approximately 142,484 square feet[169]. - As of September 30, 2024, the company had collaborated with almost all major global ocean and air carriers, forwarding 32,800 TEU of container loads and 55,100 tons of air cargo[168]. - The company aims to expand its customer base and improve service quality to achieve sustainable business growth[172].

Revenue Growth - Total revenues increased by 42.3% to $18.3 million, driven by a 117.6% rise in airfreight revenues to $10.4 million[2] - Total revenue increased to $18,315,155 in 2024 from $12,872,891 in 2023, representing a growth of approximately 42.5%[14] Profitability - Gross profit increased by 44.9% to $3.7 million, with the profit margin rising from 19.9% to 20.3%[3] - Gross profit rose to $3,715,957 in 2024, up from $2,564,289 in 2023, indicating a gross margin improvement[14] - The net loss attributable to common stockholders was $225,252 in 2024, compared to a net income of $983,602 in 2023, reflecting a substantial decline[14] - The Company reported a loss from deconsolidation of a subsidiary amounting to $73,151 in 2024[14] - The company experienced a comprehensive loss income attributable to the Company of $222,036 in 2024, compared to a comprehensive income of $983,358 in 2023[14] Expenses - General and administrative expenses rose by 77.5% to $4.1 million, driven by increased staffing costs and higher professional fees[3] - Operating expenses increased significantly to $4,241,998 in 2024 from $2,317,392 in 2023, primarily driven by higher general and administrative expenses[14] - Cash flows from operating activities showed a net cash used of $53,640 in 2024, contrasting with a net cash provided of $39,303 in 2023[18] - The company incurred interest expenses of $108,008 in 2024, down from $123,600 in 2023, showing a reduction in financing costs[14] Strategic Initiatives - A one-year renewable agreement was established with a leading Asia-based e-commerce platform for advanced cross-border fulfillment services[5] - A strategic partnership was announced with a major social media and e-commerce platform to enhance customs brokerage services[6] - The Company is committed to expanding service capacity and maintaining exceptional service levels to meet growing demand[8] Operational Expansion - The Company expanded its Dallas-Fort Worth operations, more than doubling facility space to 46,657 sq. ft.[7] - The volume of air freight processed doubled to over 26,000 tons in fiscal year 2024 compared to fiscal year 2023[8] Financial Position - Total liabilities and equity stood at $9,193,759 in 2024, compared to $5,471,946 in 2023, indicating a significant increase[14] - The Company raised $6.75 million in gross proceeds from an upsized IPO, indicating strong investor confidence[5] Share Information - The weighted average shares outstanding remained constant at 6,000,000 for both 2024 and 2023[14]

Revenue Growth and Performance - Total revenues increased by $5.4 million (42.3%) from $12.9 million in FY2023 to $18.3 million in FY2024, driven by higher cross-border airfreight solutions revenue[133] - Cross-border airfreight solutions revenue surged by $5.6 million (117.6%) from $4.8 million in FY2023 to $10.4 million in FY2024, with air cargo volume increasing from 12,966 tons to 26,160 tons[136] - Revenues from Asia-based customers surged by $7.5 million, or 136.5%, from $5.5 million in FY 2023 to $13.1 million in FY 2024[137] - Total revenues increased by $5.4 million, or 42.3%, from $12.9 million in FY 2023 to $18.3 million in FY 2024[137] Gross Profit and Margin - Gross profit increased by $1.15 million (44.9%) from $2.56 million in FY2023 to $3.72 million in FY2024, with gross margin improving from 19.9% to 20.3%[132] - Gross profit increased by $1.2 million, or 44.9%, from $2.6 million in FY 2023 to $3.7 million in FY 2024[143] Cost and Expenses - Cost of revenues increased by $4.3 million, or 41.6%, from $10.3 million in FY 2023 to $14.6 million in FY 2024[140] - General and administrative expenses increased by $1.8 million, or 77.5%, from $2.3 million in FY 2023 to $4.1 million in FY 2024[146] Net Loss and Financial Position - Net loss of $225,252 in FY 2024 compared to net income of $983,602 in FY 2023[153] - Current ratio of 0.6:1 as of June 30, 2024, with current assets of $3.5 million and current liabilities of $5.9 million[154] - Accounts receivable increased to $2.8 million in FY 2024 from $1.4 million in FY 2023[155] Cash Flow and Financing - Net cash used in operating activities was $53,640 in the fiscal year ended June 30, 2024, compared to $39,303 in the prior year, primarily due to a net loss of $228,277[161][163] - Net cash used in investing activities increased to $78,799 in fiscal year 2024 from $18,288 in 2023, driven by a $48,893 cash outflow from deconsolidation of a subsidiary[166] - Net cash provided by financing activities was $78,755 in fiscal year 2024, compared to $253,088 net cash used in 2023, mainly due to $185,014 from loans and $237,302 from stockholders[167] - Capital expenditures were nil in fiscal year 2024, compared to $18,288 in 2023, with expected increases in future capital expenditures as the business expands[168][169] - The company's cash balance decreased by $50,468 in fiscal year 2024, ending with $123,550, compared to a decrease of $199,513 in 2023[160] Operational Metrics and Customer Base - The company fulfilled over 41,000 cross-border supply chain solution orders for freight with an aggregate assessed value of $1.0 billion as of June 30, 2024[115] - The company collaborated with major global carriers to forward 31,300 TEU of container loads and 47,800 tons of air cargo as of June 30, 2024[113] - The company assisted with customs clearance for cross-border freight with an aggregate assessed value of over $38.0 million as of June 30, 2024[114] - The company operates two regional warehousing and distribution centers with an aggregate gross area of 75,014 square feet and 34 docks, handling up to 3,000 cubic meters of freight daily[114] - The company maintains a network of over 200 domestic ground transportation carriers and collaborates with over 150 warehouses and distribution terminals across the U.S.[113][114] - The company served over 300 customers and delivered to thousands of business and residential addresses in approximately 48 U.S. states as of June 30, 2024[112][115] Revenue by Customer Geography - Revenues from U.S.-based customers decreased by $2.1 million, or 28.7%, from $7.3 million in FY 2023 to $5.2 million in FY 2024[137] Contractual Obligations and Credit Terms - Total contractual obligations as of June 30, 2024, amounted to $5,202,737, including $4,236,202 in operating lease obligations and $660,680 in other loans[169] - The company's credit terms with third-party customers are 15 days, while major vendors provide a 30-day credit term, with related-party terms being more flexible[165] Accounts Receivable and Revenue Recognition - The company's accounts receivable increased by $722,522 from third parties and $732,769 from related parties in fiscal year 2024, driven by significant revenue growth[161] - The company's revenue recognition methodology for contract assets is based on the estimated completion percentage of performance obligations, recognizing revenue over time[174] IPO and Financial Strategy - IPO closed in July 2024, raising approximately $5.79 million to fulfill short-term financial obligations[157] Accounting Standards - The company does not expect recently issued accounting standards to have a material impact on its consolidated financial statements[180]