Lakeside Holding Ltd SEC 10-Q Report

Lakeside Holding Ltd, a company specializing in cross-border freight solutions and pharmaceutical distribution, has released its Form 10-Q report for the third quarter. The report provides a detailed overview of the company's financial performance and operational activities during the reporting period.

Financial Highlights

Total Revenue: $7.68 million, reflecting a decrease compared to the previous period, primarily due to lower demand in cross-border freight solutions.

Gross Profit: $0.48 million, indicating a significant decline from the prior period, driven by increased cost of revenue.

Income (loss) from operations: $(3.33) million, highlighting a substantial operating loss due to higher general and administrative expenses.

Net (loss) income: $(3.28) million, showing a considerable net loss, impacted by increased operating expenses and interest expenses.

(Loss) earnings per share – basic and diluted: $(0.44), reflecting the net loss attributable to the company during the reporting period.

Business Highlights

Revenue Segments: The company reported revenue from cross-border freight solutions, which includes both third-party and related-party transactions. Additionally, revenue was generated from the distribution of pharmaceutical products, marking a diversification in the company's service offerings.

Geographical Performance: The company experienced significant revenue contributions from Asia-based customers, which accounted for a substantial portion of the total revenue. U.S.-based customers also contributed to the revenue, indicating a balanced geographical distribution of the company's operations.

New Product Launches: During the reporting period, the company began generating revenue from the distribution of pharmaceutical and medical products, indicating an expansion into new market segments.

Future Outlook: The company is actively exploring potential business opportunities in mainland China through its subsidiary, Sichuan Hupan Jincheng Enterprise Management Co., Ltd. This strategic move is expected to enhance the company's market presence and operational capabilities in the region.

SEC Filing: Lakeside Holding Ltd [ LSH ] - 10-Q - Feb. 14, 2025