Cross-Border Airfreight Solutions Surge by 117%, Driving Exceptional Financial Performance<\/i><\/p>\n
ITASCA, Ill.<\/span><\/span>, Oct. 1, 2024<\/span><\/span> \/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 reported financial results for the fiscal year ended June 30, 2024<\/span>.<\/p>\n Fiscal Year 2024 Highlights:<\/b><\/p>\n Operational Achievements:<\/b><\/p>\n Management Commentary<\/b><\/p>\n Henry Liu<\/span>, Chairman and Chief Executive Officer of Lakeside, commented, “We are pleased to report strong financial performance for fiscal year 2024, highlighted by a 42.3% increase in revenue to $18.3 million<\/span>. This growth was driven primarily by the 117.6% surge in our cross-border airfreight solutions, as we capitalized on rising demand from the e-commerce sector. Expanding this segment has proven to be a key strategic move, with the volume of air freight processed doubling to over 26,000 tons this year, compared to fiscal year 2023.”<\/p>\n “We remain committed to providing flexible and competitive services that address the evolving needs of our customers. Our continued investment in workforce expansion and service capacity has allowed us to manage growing demand while maintaining exceptional service levels. With a 44.9% increase in gross profit and improvements in our gross margin, we are excited about the growth opportunities ahead. Our recent service launches, operational expansions, and partnerships with leading e-commerce platforms solidify our position as a trusted provider of seamless, technology-driven logistics solutions, setting the stage for continued success in fiscal year 2025 and beyond,” concluded Mr. Liu.<\/p>\n Fiscal Year 2024 Conference Call Details<\/b><\/p>\n The Company has scheduled a conference call and live webcast to discuss its financial results at 8:00 A.M. Eastern Time (8:00 P.M.<\/span> Beijing Time) on Friday, October 4, 2024. Management will deliver prepared remarks. <\/p>\n The dial-in details for the conference call are as follows:<\/p>\n The live audio webcast of the call can also be accessed by visiting Lakeside’s Investor Relations page on the Company’s website at https:\/\/lakeside-holding.com<\/a>. An archive of the webcast will be available on the Company’s website following the live call.<\/p>\n About Lakeside Holding Limited<\/b><\/p>\n Lakeside Holding Limited, based in Itasca, IL<\/span>, is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, including China<\/span> and South Korea<\/span>. Operating under the brand American Bear Logistics, we primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers’ requirements and needs in transporting goods into the U.S. We are an Asian American-owned business rooted in the U.S. with in-depth understanding of both the U.S. and Asian international trading and logistics service markets. Our customers are typically Asia<\/span>– and U.S.-based logistics service companies serving large e-commerce platforms, social commerce platforms, and manufacturers to sell and transport consumer and industrial goods made in Asia<\/span> into the U.S. For more information, please visit https:\/\/lakeside-holding.com<\/a>. <\/p>\n Safe Harbor Statement<\/b><\/p>\n This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is\/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.<\/p>\n Investor Relations Contact:<\/b><\/p>\n\n
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