Business
Lakeside Announces Fiscal 2025 Second Quarter and Six-Month Results
ITASCA, Ill. , Feb. 14, 2025 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based cross-border supply chain
About this update from Lakeside Holding Limited
[{"type":"text","content":"ITASCA, Ill. , Feb. 14, 2025 /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 operating through two specialized subsidiaries—American Bear Logistics and Hupan Pharmaceutical (Hubei) Co., Ltd., today announced financial results for its fiscal 2025 second quarter and first half ended December 31, 2024.\n\nManagement Commentary\nHenry Liu, Chairman and Chief Executive Officer of Lakeside commented, \"While we faced industry-wide headwinds in the second quarter, we've made tremendous strategic progress in positioning Lakeside for long-term growth. Our expansion into pharmaceutical logistics through Hupan Pharmaceutical, our new partnerships with major e-commerce platforms, and our significantly-expanded Dallas-Fort Worth facilities demonstrate our commitment to diversifying and strengthening our business. The strong growth in our Asia-based customer revenues, up 29.4% in the first half, validates our strategic shift toward serving the rapidly expanding cross-border e-commerce market. With these foundational pieces in place and our continued investment in operational capabilities, we're excited about the opportunities ahead as we build a more robust, diversified logistics enterprise.\"\nOperational Highlights\nE-Commerce & Cross-Border Logistics:\nEntered one-year agreement with a major Asian e-commerce platformPartnered with a leading global social media and e-commerce platform for customs brokerage servicesLaunched new Pick & Pack Fulfillment service for a major Chinese logistics partnerU.S. Facilities Expansion:\nExpanded Dallas-Fort Worth operations:More than doubled warehouse space from 20,000 to 46,657 square feetAdded staff to support expanded operationsPart of multi-hub strategy including Chicago O'Hare (ORD), Dallas-Fort Worth (DFW), and Los Angeles (LAX)Medical/Pharmaceutical Business Development:\nAcquired Hupan Pharmaceutical (Hubei) Co., Ltd:Purchase price: RMB 4.0M ($0.6M)Expected annual revenue contribution: $7MGained licenses for drug wholesale, retail, and medical device distributionPartnerships with 15 major Wuhan hospitalsEstablished partnership with Sinopharm Group Hubei Co., Ltd. for:Essential medicine storageTransportation servicesLogistics servicesSigned RMB 11.0M ($1....