Latest news with #Lakeside
Yahoo
30-05-2025
- Entertainment
- Yahoo
Waterways Cruises and Events Launches 2025 Summer Cruise Series Aboard Renovated Sightseer Yacht
Seattle's Waterways Cruises unveils two exciting new cruises and the return of a favorite, offering unique sightseeing and sunset experiences aboard the renovated Sightseer this summer, with departures from South Lake Union and Fisherman's Terminal. SEATTLE, May 30, 2025 /PRNewswire/ -- Waterways Cruises and Events is kicking off the summer season with the return of its popular Unwind Cruise and the launch of two brand-new experiences: the Sip and Sunset Cruise and the Seattle Sightseeing Cruise. All three are hosted aboard the Sightseer, a casual, open-air yacht fully renovated in 2023 to enhance guest comfort and panoramic views. The Unwind Cruise and Sip and Sunset Cruise will depart from South Lake Union, offering laid-back, social experiences with skyline views, light bites and a selection of wine, beer and cocktails. The Seattle Sightseeing Cruise, departing from Fishermen's Terminal, will offer a narrated journey through the ship canal with a brief tour of Lake Union and back to the Ballard Locks "These cruises give guests a fun and easy way to enjoy summer in Seattle," said Jeff Culton, chief operating officer at Waterways Cruises and Events. "We're excited to relaunch the Sightseer with experiences that highlight the best of the city—from iconic skyline sunsets to the unique history of our waterways." In addition to its summer cruise series, Waterways has expanded its offerings with the launch of Lakeside, a new land-based event venue located on the South Lake Union waterfront. Designed for weddings, corporate gatherings and private celebrations, Lakeside offers a modern, flexible space that complements Waterways' on-the-water experiences and provides guests with a scenic, versatile setting in the heart of the city. The summer cruise series launches in June, with regular departures through the season. Full schedules, ticket details and onboard offerings are available at About Waterways Cruises and Events Founded in 1994, Waterways Cruises and Events is a family-owned company that offers premier cruise experiences on Seattle's lakes and Puget Sound. What began as a single charter yacht has grown into a fleet of four dining and entertainment vessels, hosting more than 60,000 guests each year. Waterways hosts a wide range of events, including weddings, corporate functions, private celebrations and public dining cruises. In 2025, the company expanded its offerings with the opening of Lakeside, a modern event venue located on South Lake Union. View original content to download multimedia: SOURCE Waterways Cruises and Events
Yahoo
23-05-2025
- Business
- Yahoo
Q3 2025 Lakeside Holdings Ltd Earnings Call
Henry Liu; Co-Founder, Chairman of the Board of Directors and Chief Executive Officer; Lakeside Holdings Ltd Operator Thank you for standing by and welcome to the Lakeside Holding Limited fiscal 2025 third quarter and nine month earnings conference call. Please note that today's call is being recorded. I will now turn the meeting over to Matthew Abanante, investor relations for Lakeside Holding Limited. Thank you and thanks to everyone joining us today for Lakeside Holding Limited's earnings conference call to discuss our financial results for the third quarter in nine months of fiscal year 2025. Please note that our earnings press release was issued last week, and our quarterly report on Form 10-Q was filed with the Securities and Exchange Commission. Both documents are available in the investor relations section of our website at Joining me on the call today is Henry Liu, Chief Executive Officer of Lakeside Holding Limited. Before we begin, I would like to review the safe harbor statement. Please be aware that today's discussion will contain forward-looking statements that reflect our current expectations and views of future events. These statements are subject to known and unknown risks, uncertainties, and other factors that 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 and financial trends 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. For a detailed discussion of these risks and uncertainties, please refer to our filings with the SEC, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. 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. And with that, I would like to hand the call over to Henry Liu, Chief Executive Officer of Lakeside. Henry, please go ahead. Henry Liu Good afternoon, Matt, and thank you everyone for joining us today. We appreciate you taking the time to participate in our physical 2025, third quarter and the nine month earnings conference call. This period has been a dynamic one for the site marked by challenges in our established markets and existing progress in our new strategic ventures. We are navigating a shifting global landscape with a clear focus on long term growth and the shareholder value. And I am pleased to share our progress and outlook with you, our valued shareholders. Reflecting on the first nine months of physical 2025, we reported total revenues of $11.48 million for the nine months ended March 31, 2025. Well, this represents a decrease from the $13.53 million record in the same period of last year. It's important to contextualize these figures. Our traditional cross-pounder free solutions operated through American Bey Logistics saw revenue of $10.76 million for the nine months. Compared to the $13.53 million in the premier year. This decline is primarily attributable to the normalization of global shipping demands and the persistent pricing pressures with the freight sector. Attended observed across the industry. For the third quarter, fiscally, total revenues were $3.18 million compared to the $4.46 million in the third quarter of 2024. With our cross-bound free solutions contributing $3.31 million. Despite these headwinds in the freight segrement, we are particularly encouraged by the initial performance and the strategic importance of our recent expansion into the pharma surgical distribution sector. Following our acquisition of Huan Pharmaceutical, Hubei company in November 2024, this new segrement has already begun to contribute our top line, generating $715,362 in revenue for the nine months ended in March 31, 2025 and $497,276 in the third quarter alone. This is a testament to the significant growth opportunities we see in Chinese pharmaceutical market. We are actively working to integregate Huiyu Pharmaceutical into our border operations, aiming to unlock synes and expand our service offerings. Our gross profit for nine months stood at $1.20 million, and for the third quarter, it was $0.72 million. The decrease from per year periods reflects the phhemoreal pressure in freight markets. Operating expense for the nine months total $5.6 million and for the third quarter, $1.8 million. These figures include investment related to our expansion, such as selling expense of $158,117 for nine month period period of like $103,630 for the third quarter, which were not present in the pre-year. As well as increase the general and administrative expense associated with our growth initiatives and the public company operations. Consequently, we record a loss from operation of $4.40 million from the nine months and $1.10 million for the third quarter. Our net loss attributable to the company for the nine months was $4.35 million or $0.58 per share. And for the third quarter, it was $1.07 million or $0.14 per share. Well, these results reflect the current market conditions and our ongoing investments. We are taking a proactive steps to manage cost, optimize our existing operations, and the drive towards profitably the successful completion of our initial public offering on July 1. 2024, which raised the growth process of aromatically $6.75 million, has prodded us with the necessary capital to fill our strategy initiatively. Initiatives Furthermore, the convertible debit financing agreement for up to $4.5 million announced in March 2025 will provide additional working capital to support the growth of our medical distribution business and for general corporate purpose, further strengthening our financial flexibility. Looking at a broader macroeconomic environment, we are closely monitoring developments in international trade relations, particularly the ongoing tariff discussions between the United States and China. Recent single signals suggest a potential easing of tensions with a tariff. Choose offering a degree of caution or optimism for the global markets. Well, the situation remains fluid and the current agreement is more of a oppose than a comprehensive resolution. Any execution is a positive sign for global trade flows. As a company with significant focus on the Asian Pacific markets, particularly the US China trade line, we will this development with hopefully a typicalation, a more stable and predictable trade environment would and adaptable benefit our cross-bound logistics operations and create a more favorable back back job for our extension efforts in China. We remain angio and prepared to adapt our strategies as the situation involves, always with the goal of the mitigating risk and capitalizing our emerging op opportunities. Our strategic objectives for the remainder of physical 2025 and beyond are clear. First, we are committed to aggressively expanding our footprint in China. Pharmaceutical distribution market. This involves integregating coupon film is suitable. Seamlessly, actively pursuing new distribution agreements and boarding our product portfolio. We are already progressing in discussion with major Pharmaceutical pro pro procedures such as Kelun pharmaceutical and are excited about the potential in this high growth sector. Second, we will continue to optimize our cross-bound logistics service. Well, the market is challenging. American Bear Logistics has a strong reputation and a resilient customer base. We will focus on providing high volume, customized solutions, and adapting the involving needs of our of our clients in Asian Pacific to US trade line. Third, we will diligently manage our capital and resources, ensuring that our investments are directed towards initial initiatives that promise the highest return and con contribute to suitable long term shareholder value. In condition while the past nine months have presented a complicated, complex operating environment, we are confident in our strategic direction. Diversing into the pharmaceutical sector, coupled with our established advertise in cross-boundary logistics and our strate and financial position post IPO positions lakeside for a promising future. We are building a more resilient and diversified business to capitalize on growth opportunities in cap markets. We remain optimistic about navigating the current challenges and delivering value to our shareholders. I want to thank our dedicated team for their hard work and commitment during this transformative period. I also want to thank our shareholders for your continued support and confidence in Lakeside. With that, I will now turn the call over the operator to begin the question and answer session. Thank you, Henry. We will now move to the question and answer portion of the call. Thank you to everyone who have submitted questions. Can you elaborate on the early synergies you're seeing from Huiyu Pharmaceutical and how you envision this segment driving Lakeside's growth in the rapidly expanding Chinese healthcare market, especially given your efforts with companies like Kloon Pharmaceutical. Henry Liu Thank you for that question. We are indeed very pleased with the initial contribution from Huiyu Pharmaceutical. Theoretically, this accusation is a Cornerstone of our diversification and growth strategy. The early synergies are manifesting in a few key areas. First, we are leveraging our existing logistics appetite to optimize Huan's supply chain and the distribution network with China, which is a complex but highly rewarding market. Second, our established relationships and understanding of the Asian Pacific religion are providing beneficial as we navigate the regulator landscape and build the partnerships. Our discussions with major players like Cunnam. Pharmaceutical are progressing. And these are aimed at securing significant distribution agreements that will allow us to tap into the substantial demand for high quality pharmaceutical products. The Chinese healthcare market is on a significant growth trajectory driven by an aging population, increasing health. Awareness and government investment in healthcare infrastructure. We believe Huiyu Pharmaceutical supported by lake size border cap capabilities and the financial strengths is Exceptionally well positioned to capture the meaningful. Share of this growth, becoming a significant divert to driver to revenue and profitability for Lakeside in coming years. We see this as a long term value character for our shareholders. Regarding the cross-border freight business, while the market has seen some headwinds, American Bear Logistics has a long standing presence. Can you speak to the specific strategies Lakeside is employing to maintain competitiveness and serve your customers effectively in the Asia Pacific to US trade lane during this period of market adjustment? Henry Liu That's a very relaxing question. The cross-bound freight market has certainly seen a shift from extraordinary conditions of the past few years. However, American beer logistics has a deep understanding of Asian Pacific to US trade line build over many years. Our strategy to maintain competitiveness focus on a few core pillars. First, we are emphasizing customized high volume logistics solutions rather than com competiting solar on price for the commanized freight. Our advertise in handling com complex shipments and providing end to end service is a key differentiator. Second, we are leveraging techno techno to enhance efficiency, improve visibility for our customers, and optimize our operations. This includes investment in our digital platforms and data analysis cap capabilities. Third, we are maintaining strong relationship with our carrier partners and customers, allowing us to adapt quickly to change needs and secure capacity. While the overall market has softened, there are still specific niches and customers agreements that require the speci specificize the service we offer. Our our focus is serving this sacraments is exceptionally well, managing our cost diligently and ensuring that American bear's logistics remain a reliable and profitable contributor to lakeside, even as we grow our pharmaceutical businesses. And our last question, can you share your long-term vision for the company and how the new pharmaceutical venture is expected to create sustained shareholder value over the next few years? Henry Liu Our long term vision for Lakeside is build up. Diversified and resilient global supply chain solutions provider with a strong presence in high growth markets, particularly in Asian Pacific region. The integration of our established cross-bound logistics advertise with our new rapidly expanding. The pharmaceutical distribution businesses in China is central to this region. We see these two segments as a complementary. The logistics business provides stable cash flow, deep market knowledge, and operational excellence. Well, the pharmaceutical business offers significant growth potential in non cyclical industry. Over the next few years, we aim to achieve several key milestone. Firstly, to significantly scale our Pharmaceutical distribution operations in China becoming a recognized player in the in that market. Secondly, To continue optimizing our logistic business, focusing on profitability and high value services. Thirdly, to explore further strategic opportunities, whether organic or inorganic and align with our core competencies and market focus. We believe this multi pronged approach will lead to more con cons consistent revenue growth, improved pro profitability with a stronger, more diversified business model. Our commitment is to translate this operational success into sustained long term value for our shareholders by growing our earnings, strengthening our market position and maintaining transparent communication about our progress. Thank you, Henry, and thank you everyone for participating on today's call. We look forward to providing additional updates in the near future. In the meantime, we can be reached at 347-947-2093 or you can email me at matthrew@ Thank you, everyone. Operator Ladies and gentlemen, this concludes our conference for today. Thank you for your participation. We may now disconnect.
CTV News
22-05-2025
- Climate
- CTV News
First tornado of the season touched down in Lakeside, Ont.
Drone photo of tornado damage near Lakeside, Ont. (Source: Northern Tornadoes Project) Ontario's first recorded tornado of the season touched down near St. Marys on May 16. Researchers with the Northern Tornadoes Project at Western University determined an EF0 twister developed around 3 a.m. 'Radar at the time shows a compact area of low-level rotation,' NTP said on their website. lakeside tornado Northern Tornadoes Project Drone photo of tornado damage near Lakeside, Ont. (Source: Northern Tornadoes Project) Trees and a hydro pole were damaged in Lakeside, a community southeast of St. Marys and northwest of Woodstock. Investigators did ground and drone surveys along the tornado's 3.6 kilometre path. The team said wind speeds likely reached an estimated 115 km/h.
Cision Canada
19-05-2025
- Business
- Cision Canada
Starburst Announces Strategic Investment from Citi
BOSTON, May 19, 2025 /CNW/ -- Starburst, the data platform for apps and AI, today announced a strategic investment from Citi. Starburst's platform enables organizations to unify access to distributed data, across cloud, on-premises, and hybrid environments, without the need for data duplication or complex migrations. Starburst's vision is to deliver cutting-edge AI and analytics solutions on an open, hybrid data lakehouse foundation. The investment strengthens the company's momentum in enabling global enterprises to build secure, scalable, and intelligent data applications. By bringing AI "lakeside," Starburst eliminates the traditional friction between data, governance, and AI. Starburst's technology is used by 10 of the top 15 banks. The investment was made through Citi's Markets Innovation & Investments division. "We're excited to collaborate with Starburst to help shape the future of enterprise data and AI," said Lee Smallwood, Global Head of Markets Innovation and Investments, Citi. "Our strategic investment reflects Citi's commitment to advancing a modern, AI-ready data infrastructure, prioritizing governance, performance, and flexibility to power mission-critical financial services in a global, regulated environment." "Our mission is to meet the data challenges faced by complex, global institutions," said Justin Borgman, CEO and Co-Founder of Starburst. "We're proud to provide our clients with a secure, high-performance platform that enables access to data wherever it lives. Citi's investment reinforces our mission to remove barriers between data and insight, especially in industries where speed, trust, and governance are non-negotiable." Starburst continues to expand its reach into high-demand, regulated industries where AI is becoming a cornerstone of transformation. About Starburst Starburst is the data platform built for flexibility, delivering fast, secure access to all your data, wherever it lives. Whether on-premises, across clouds, or in hybrid environments, Starburst provides choice and control to your architecture. Built on an open data stack with Trino and Apache Iceberg, it unifies distributed data without complex or costly migrations, unleashing the full power of the data lakehouse for analytics and AI. With our Lakeside AI architecture, enterprises gain federated access, governed collaboration, and full data lineage, laying the foundation for scalable, compliant AI innovation. Starburst empowers data-intensive and security-conscious organizations to unlock the full potential of their data while ensuring performance, governance, and control. Enterprises in 60+ countries, including Comcast, Citigroup, and 4 of the top 5 global banks, trust Starburst to maximize data value. Our strategic partnerships with AWS, Dell Technologies, and top cloud providers ensures seamless interoperability across environments. From insights to action to AI, Starburst fuels innovation at every level. Learn more at
Yahoo
15-05-2025
- Business
- Yahoo
Lakeside Announces Fiscal 2025 Third Quarter and Nine-Month Results
ITASCA, IL, May 15, 2025 (GLOBE NEWSWIRE) -- 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 third quarter and nine months ended March 31, 2025. Management Commentary "The third quarter and first nine months of fiscal 2025 presented a dynamic environment for Lakeside," commented Henry Liu, Chief Executive Officer. "While our established cross-border freight solutions experienced revenue declines compared to the prior year, primarily due to shifts in global shipping demands and pricing pressures, we are encouraged by the initial contributions from our new pharmaceutical distribution segment following the Hupan Pharmaceutical acquisition. Our strategic objectives remain clear: expand our footprint in China's pharmaceutical distribution market, where significant growth opportunities exist, while continuing to optimize our cross-border logistics services. We are actively integrating Hupan Pharmaceutical into our operations to leverage synergies between business segments. Despite challenging market conditions in the freight sector, we remain committed to diversifying revenue streams and investing in high-growth areas. We believe our strategic focus on the Asia-Pacific market, coupled with our expansion into the pharmaceutical sector, positions Lakeside for long-term shareholder value creation." Highlights for the Nine Months Ended March 31, 2025, and Recent Developments: Successful Initial Public Offering (IPO): On July 1, 2024, the Company successfully closed its IPO of 1,500,000 shares of common stock at $4.50 per share, raising aggregate gross proceeds of approximately $6.75 million (net proceeds of approximately $5.4 million after deducting underwriting discounts, commissions, and other offering expenses). This milestone provided significant capital to support the Company's growth strategies and operational expansion. Acquisition of Hupan Pharmaceutical: On November 21, 2024, Lakeside completed the acquisition of Hupan Pharmaceutical (Hubei) Co., Ltd. ('Hupan Pharmaceutical'), marking its entry into the medical logistics and pharmaceutical distribution sector in China. This strategic acquisition is aimed at diversifying revenue streams and capitalizing on the growing healthcare market in the region. Hupan Pharmaceutical contributed $715,362 to revenues for the nine months ended March 31, 2025. Convertible Debt Financing: On March 5, 2025, Lakeside announced a convertible debt financing agreement for up to $4.5 million. This financing is intended to provide additional working capital to support the growth of its pharmaceutical distribution business and for general corporate purposes, further strengthening the Company's financial position and ability to execute its strategic initiatives. Expansion of Pharmaceutical Business: Following the acquisition, the Company has been actively working to integrate Hupan Pharmaceutical and explore new business opportunities within the Chinese pharmaceutical market. This includes efforts to secure new distribution agreements and expand its product portfolio. For instance, as noted in prior announcements, the company has been working on securing distribution agreements with major pharmaceutical producers like Kelun Pharmaceutical. Continued Focus on Cross-Border Logistics: While navigating a challenging global shipping environment, American Bear Logistics, the Company's freight forwarding arm, continued to provide customized cross-border ocean and airfreight solutions. The company remains focused on serving its core Asia-Pacific to U.S. trade lane, adapting to market shifts and customer needs. Financial Results for the Three Months Ending March 31, 2025: Total revenues for the third quarter of fiscal 2025 were $3.80 million, a decrease compared to $4.46 million in the corresponding quarter of the previous fiscal year. This revenue comprised $2.86 million from third-party cross-border freight solutions (down from $3.82 million year-over-year), $0.45 million from related-party cross-border freight solutions (down from $0.64 million), and $0.50 million from the distribution of pharmaceutical products by third parties, a new revenue stream compared to nil in the prior year's third quarter. The total cost of revenues for the third quarter was $3.09 million, reduced from $3.49 million in the third quarter of fiscal 2024. This resulted in a gross profit of $0.72 million for the third quarter of fiscal 2025, compared to a gross profit of $0.98 million in the same period last year. Operating expenses for the third quarter totaled $1.79 million, an increase from $0.94 million in the prior year's third quarter. This included selling expenses of $0.10 million (nil in Q3 FY2024) and general and administrative expenses of $1.68 million (up from $0.96 million in Q3 FY2024). Consequently, the company recorded a loss from operations of $1.10 million for the third quarter of fiscal 2025, a shift from an income from operations of $0.04 million in the third quarter of fiscal 2024. After accounting for other income and income taxes, the net loss attributable to the Company for the third quarter of fiscal 2025 was $1.07 million, or a loss of $0.14 per basic and diluted share. This compares to a net income attributable to the Company of $0.01 million, or $0.00 per share, for the third quarter of fiscal 2024. Financial Results for the Nine Months Ended March 31, 2025: For the nine months ended March 31, 2025, total revenues were $11.48 million, compared to $13.53 million for the same period in fiscal 2024. Revenues from third-party cross-border freight solutions were $9.56 million (down from $12.46 million), related-party cross-border freight solutions contributed $1.21 million (up from $1.07 million), and the distribution of pharmaceutical products by third parties generated $0.72 million (compared to nil in the prior year period). The total cost of revenues for the nine-month period was $10.28 million, a decrease from $10.84 million in the prior year period. This led to a gross profit of $1.20 million for the first nine months of fiscal 2025, down from $2.69 million in the corresponding period of fiscal 2024. Operating expenses for the nine months increased to $5.60 million from $2.90 million in the prior year period. These expenses included $0.16 million in selling expenses (nil in the prior year period) and $5.43 million in general and administrative expenses (up from $2.80 million). As a result, the loss from operations for the nine months ended March 31, 2025, was $4.40 million, compared to a loss from operations of $0.21 million for the same period in fiscal 2024. The net loss attributable to the Company for the nine months ended March 31, 2025, was $4.35 million, or a loss of $0.58 per basic and diluted share. This compares to a net loss attributable to the Company of $0.23 million, or a loss of $0.04 per share, for the nine months ended March 31, 2024. Revenues by Customer Geographic Location For the three months ended March 31, 2025, revenues from Asia-based customers were $3.3 million, a decrease from $3.8 million in the same period of the prior year. Revenues from U.S.-based customers were $0.5 million for the third quarter of fiscal 2025, compared to $0.6 million in the third quarter of fiscal 2024. The shift in revenue composition reflects the dynamic nature of global trade and the company's strategic focus. The following table presents the disaggregation of revenues by customer geographic location for the three months ended March 31, 2025 and 2024:For the three months ended March 31, 2025 2024 Revenues Amount % of total Revenues Amount % of total Revenues Amount Increase (Decrease) Percentage Increase (Decrease) Revenue from cross-border freight solutions Asia-based customers $ 2,851,137 75.0 % 3,822,169 85.7 % $ (971,032 ) (25.4 )% U.S.-based customers 454,727 12.0 % 638,594 14.3 % (183,867 ) (28.8 )% 3,305,864 87.0 % 4,460,763 100.0 % (1,154,899 ) (25.9 )% Revenue from distribution of pharmaceuticals Asia-based customers 497,276 13.0 % - - 497,276 N/A Total revenues $ 3,803,140 100.0 % $ 4,460,763 100.0 % $ (657,623 ) (14.7 )% For the nine months ended March 31, 2025, revenues from Asia-based customers totaled $9.1 million, an increase from $8.1 million in the corresponding period of fiscal 2024. This growth highlights the continued demand from our Asia-based clientele. Revenues from U.S.-based customers for the nine-month period were $2.4 million, compared to $5.4 million in the prior year period, reflecting strategic adjustments in customer focus and market conditions. The following table presents the disaggregation of revenues by customer geographic location for the nine months ended March 31, 2025 and 2024: For the nine months ended March 31, 2025 2024 Revenues Amount % of total Revenues Amount % of total Revenues Amount Increase (Decrease) Percentage Increase (Decrease) Revenue from cross-border freight solutions Asia-based customers $ 8,410,974 73.3 % $ 8,119,136 60.0 % $ 291,838 3.6 % U.S.-based customers 2,353,947 20.5 % 5,406,206 40.0 % (3,052,259 ) (56.5 )% 10,764,921 93.8 % 13,525,342 100.0 % (2,760,422 ) (20.4 )% Revenue from distribution of pharmaceuticals Asia-based customers 715,362 6.2 % - - 715,362 N/A Total revenues $ 11,480,283 100.0 % $ 13,525,342 100.0 % $ (2,045,060 ) (15.1 )% Conference Call & Audio Webcast Lakeside's management team will hold an earnings conference call at 4:30 PM Eastern Time (3:30 PM Central Time) on Thursday, May 22 to discuss the Company's financial results and provide an overview of the Company's operations. Management will lead the conference call and be available to answer questions. To access the call by phone, please dial 1- 877-407-9716 (international callers, please dial 1- 201-493-6779) approximately 10 minutes before the start of the call. Refer to conference ID: 13753971 or LAKESIDE. **NOTE: THIS CONFERENCE ID WILL BE REQUIRED FOR ENTRY A live audio conference call webcast will be available online athttps:// About Lakeside Holding Limited Lakeside Holding Limited is a U.S.-based cross-border supply chain solution provider with a unique focus on the Asia-Pacific market. Through two specialized subsidiaries—American Bear Logistics and Hupan Pharmaceutical (Hubei) Co., Ltd.—Lakeside delivers tailored logistics solutions spanning general and specialized sectors. American Bear Logistics, with strategic hubs in Chicago, Dallas, Los Angeles, and New York, offers customized cross-border ocean and airfreight solutions, connecting Asia-based logistics service companies and e-commerce platforms with the U.S. market. Lakeside recently acquired Hupan Pharmaceutical (Hubei) Co., Ltd., expanding its service scope and enhancing its pharmaceutical logistics and distribution capabilities within China. This strategic move underscores Lakeside's commitment to advancing integrated cross-border logistics solutions. For more information, please visit The Company routinely updates important information on its website. Safe Harbor StatementThis 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. Investor Relations Contact:Matthew Abenante, IRCPresidentStrategic Investor Relations, LLC Tel: 347-947-2093Email: matthew@ (tables follow) LAKESIDE HOLDING LIMITEDCONDENSED CONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2025 AND JUNE 30, 2024(UNAUDITED) As ofMarch 31,2025 As ofJune 30,2024 (unaudited) (audited) ASSETS CURRENT ASSETS Cash $ 1,499,257 $ 123,550 Accounts receivable – third parties, net 1,397,499 2,082,152 Accounts receivable – related party, net 306,295 763,285 Prepayment and other receivable 91,426 - Contract assets 71,331 129,506 Inventories, net 216,489 - Due from related parties 856,570 441,279 Loan to a third party 573,546 - Total current assets 5,012,413 3,539,772 NON-CURRENT ASSETS Investment in other entity 15,741 15,741 Property and equipment at cost, net of accumulated depreciation 533,993 344,883 Intangible asset, net 386,811 - Right of use operating lease assets 3,619,138 3,471,172 Right of use financing lease assets 102,398 37,476 Deferred tax asset - 89,581 Deferred offering costs - 1,492,798 Deposit and prepayment 269,269 202,336 Total non-current assets 4,927,350 5,653,987 TOTAL ASSETS $ 9,939,763 $ 9,193,759 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payables – third parties $ 1,577,044 $ 1,161,858 Accounts payables – related parties 68,895 227,722 Accrued liabilities and other payables 1,448,588 1,335,804 Current portion of obligations under operating leases 2,389,965 1,186,809 Current portion of obligations under financing leases 48,617 37,619 Loans payable, current 617,682 746,962 Contract liabilities 42,168 - Dividend payable - 98,850 Tax payable 106,433 79,825 Due to shareholders - 1,018,281 Convertible notes - current 484,541 Total current liabilities 6,783,933 5,893,730 NON-CURRENT LIABILITIES Loans payable, non-current 156,509 136,375 Loan payable to related party 124,176 Deferred tax liabilities 96,703 - Obligations under operating leases, non-current 1,815,211 2,506,402 Obligations under financing leases, non-current 72,651 17,460 Convertible note - non-current 140,792 Total non-current liabilities 2,406,042 2,660,237 TOTAL LIABILITIES $ 9,189,975 $ 8,553,967 Commitments and Contingencies EQUITY Common stocks, $0.0001 par value, 200,000,000 shares authorized, 7,500,000 and 6,000,000 issued and outstanding as of March 31, 2025 and June 30, 2024, respectively 750 600 Subscription receivable - (600 ) Additional paid-in capital 5,113,511 642,639 Statutory reserve 7,014 - Deficits (4,365,856 ) (5,819 ) Accumulated other comprehensive income (5,631 ) 2,972 Total equity 749,788 639,792 TOTAL LIABILITIES AND EQUITY $ 9,939,763 $ 9,193,759LAKESIDE HOLDING LIMITEDCONDENSED CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) FOR THE THREE MONTHS AND NINE MONTHS ENDED MARCH 31, 2025 AND 2024(UNAUDITED) Nine Months Ended March 31, Three Months Ended March 31, 2025 2024 2025 2024 Revenue from cross-border freight solutions – third party $ 9,559,567 $ 12,457,709 $ 2,857,504 $ 3,817,726 Revenue from cross-border freight solutions – related parties 1,205,354 1,067,633 448,360 643,037 Revenue from distribution of pharmaceutical products – third parties 715,362 - 497,276 - Total revenue 11,480,283 13,525,342 3,803,140 4,460,763 Cost of revenue from cross-border freight solutions – third party 8,756,778 9,367,882 2,602,784 3,038,232 Cost of revenue from cross-border freight solutions – related party 1,286,380 1,469,845 365,330 446,968 Cost of revenue from pharmaceutical products – third parties 240,966 - 119,175 - Total cost of revenue 10,284,124 10,837,727 3,087,289 3,485,199 Gross profit 1,196,159 2,687,615 715,851 975,564 Operating expenses: Selling expenses 158,118 - 103,630 - General and administrative expenses 5,429,398 2,803,311 1,680,339 962,481 Loss from deconsolidation of a subsidiary - 73,151 - - Provision (reversal) of allowance for expected credit loss 8,021 22,198 6,065 (27,393 ) Total operating expenses 5,595,537 2,898,660 1,790,034 935,088 (Loss) income from operations (4,399,378 ) (211,045 ) (1,074,183 ) 40,476 Other income Other income, net 310,796 190,887 109,255 102,438 Interest expense (156,266 ) (79,400 ) (87,274 ) (25,536 ) Total other income 154,530 111,487 21,981 76,902 (Loss) income before income taxes (4,244,848 ) (99,558 ) (1,052,202 ) 117,378 Income tax expense 108,175 130,735 18,594 104,610 Net (loss) income (4,353,023 ) (230,293 ) (1,070,796 ) 12,768 Less: net loss attributable to non-controlling interest - (3,025 ) - - Net (loss) income attributable to the Company (4,353,023 ) (227,268 ) (1,070,796 ) 12,768 Other comprehensive (loss) income: Foreign currency translation (loss) income (8,603 ) 3,122 3,583 - Comprehensive (loss) income (4,361,626 ) (227,171 ) (1,067,213 ) 12,768 Less: comprehensive loss attributable to non-controlling interest - (3,119 ) - - Comprehensive (loss) income attributable to the Company $ (4,361,626 ) $ (224,052 ) $ (1,067,213 ) $ 12,768 Loss per share – basic and diluted $ (0.58 ) $ (0.04 ) $ (0.14 ) $ - Weighted Average Shares Outstanding – basic and diluted 7,500,000 6,000,000 7,500,000 6,000,000LAKESIDE HOLDING LIMITEDCONDENSSED CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE NINE MONTHS ENDED MARCH 31, 2025 AND 2024(UNAUDITED) For the Nine Months Ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (4,353,023 ) $ (230,293 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation – G&A 86,413 53,985 Depreciation – cost of revenue 62,441 54,493 Amortization of intangible asset 32,056 - Amortization and interest expense of operating lease assets 1,515,688 658,713 Depreciation of right-of-use finance assets 24,081 22,548 Provision of allowance for expected credit loss 8,021 22,198 Interest expense of convertible note 40,541 - Deferred tax expense 81,567 36,264 Interest income (11,645 ) - Loss from derecognition of shares in subsidiary - 73,151 Changes in operating assets and liabilities: Accounts receivable – third parties 666,858 (283,936 ) Accounts receivable – related parties 466,764 (565,824 ) Contract assets 58,175 (58,498 ) Inventories, net (216,489 ) - Due from related parties (41,230 ) 212,342 Due to related party - 14,536 Prepayment and other deposit (158,359 ) 2,623 Accounts payables – third parties 415,186 493,085 Accounts payables – related parties (158,827 ) 57,420 Contract liabilities 42,168 - Accrued expense and other payables 393,633 111,122 Tax payable 26,608 94,471 Operating lease liabilities (1,151,931 ) (606,756 ) Net cash (used in) provided by operating activities (2,171,304 ) 161,644 Cash flows from investing activities: Purchase of furniture and equipment (36,072 ) - Payment for leasehold improvement (76,456 ) - Net cash payment for asset acquisition (552,721 ) - Loan to a third party (561,901 ) - Payment made for investment in other entity - (29,906 ) Net cash outflow from deconsolidation of a subsidiary (Appendix A) - (48,893 ) Net cash used in investing activities (1,227,150 ) (78,799 ) Cash flows from financing activities: Proceeds from loans 294,975 225,000 Repayment of loans (420,765 ) (200,132 ) Net proceeds from issuance of convertible notes 755,512 - Proceeds from a loan from a related party 124,176 - Repayment of equipment and vehicle loans (85,591 ) (89,802 ) Principal payment of finance lease liabilities (22,814 ) (21,485 ) Payment for deferring offering cost - (140,000 ) Advances from Hupan Pharmaceutical prior to acquisition 276,365 - Proceeds from initial public offering, net of share issuance costs 5,351,281 - Advances to related parties (685,247 ) - Proceeds from shareholders - 158,455 Repayment to shareholders (805,345 ) - Net cash provided by (used in) financing activities 4,782,547 (67,964 ) Effect of exchange rate changes on cash (8,386 ) 3,216 Net increase in cash 1,375,707 18,097 Cash, beginning of the period 123,550 174,018 Cash, end of the period $ 1,499,257 $ 192,115 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for income tax $ - $ - Cash paid for interest $ 67,704 $ 24,030 SUPPLEMENTAL SCHEDULE OF NON-CASH IN INVESTING AND FINANCING ACTIVITIES Deferred offering costs within due to shareholders $ - $ 660,826 Deferred offering costs within accrued expense and other payables $ - $ 176,176 Property additions included in loan payable $ 102,235 - Additions to leasehold improvement through accounts payable and other payable $ 123,176 - Due to shareholder offset against due from related parties $ 311,185 - NON-CASH ACTIVITIES Right of use assets obtained in exchange for operating lease obligations $ 1,447,494 $ - Right of use assets obtained in exchange for finance lease obligation $ 89,003 $ 19,982 APPENDIX A – Net cash outflow from deconsolidation of a subsidiary Working capital, net $ 29,812 Investment in other entity recognized (15,741 ) Elimination of NCl at deconsolidation of a subsidiary 10,187 Loss from deconsolidation of a subsidiary (73,151 ) Cash $ (48,893 )Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
