Lakeside Holding Ltd. Files 2024 Annual Report

TL;DR

Lakeside Holding Ltd. filed its 2024 10-K. All systems go for freight and cargo.

AI Summary

Lakeside Holding Ltd. filed its annual report (10-K) for the fiscal year ended June 30, 2024. The company, incorporated in Nevada, operates in the freight and cargo transportation arrangement sector. Its principal executive offices are located at 1475 Thorndale Ave, Suite A, Itasca, Illinois.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Lakeside Holding Ltd.'s financial performance and operational status for the past fiscal year.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant new risks.

Key Numbers

• 20240630 — Fiscal Year End (The report covers the period ending on this date.)
• 0001996192 — Central Index Key (Unique identifier for the filer.)

Key Players & Entities

• Lakeside Holding Ltd. (company) — Registrant
• June 30, 2024 (date) — Fiscal year end
• Nevada (jurisdiction) — State of incorporation
• 1475 Thorndale Ave Suite A, Itasca, IL 60143 (address) — Principal executive offices
• 001-42140 (file_number) — SEC File Number

FAQ

Key Financial Figures

• $0.0001 — h Registered Common Stock, par value US$0.0001 per share LSH The Nasdaq Stock Market L
• $38.0 million — of an aggregate assessed value of over $38.0 million. Leveraging our strong cross-border su
• $18.3 million — 2024 and 2023, our revenues amounted to $18.3 million and $12.9 million, respectively, and ou
• $12.9 m — revenues amounted to $18.3 million and $12.9 million, respectively, and our gross prof
• $3.7 million — ively, and our gross profit amounted to $3.7 million and $2.6 million during the same period
• $2.6 million — oss profit amounted to $3.7 million and $2.6 million during the same periods, respectively.
• $1.0 b — eight of an aggregate assessed value of $1.0 billion, delivered to thousands of busine
• $6.8 million — aised gross proceeds of approximately US$6.8 million from this offering. The gross proceeds
• $1 — border e-commerce will expand to around $1 trillion in merchandise value by 2030,
• $300 billion — , from a current value of approximately $300 billion. We maintain a strong focus on the Asi
• $1.0 billion — eight of an aggregate assessed value of $1.0 billion delivered to thousands of business and
• $12.9 million — S. states. Our revenues increased from $12.9 million for the fiscal year ended June 30, 2023

Filing Documents

• ea0214206-10k_lakeside.htm (10-K) — 1172KB
• ea021420601ex4-2_lakeside.htm (EX-4.2) — 15KB
• ea021420601ex10-6_lakeside.htm (EX-10.6) — 172KB
• ea021420601ex10-7_lakeside.htm (EX-10.7) — 132KB
• ea021420601ex14-1_lakeside.htm (EX-14.1) — 56KB
• ea021420601ex19-1_lakeside.htm (EX-19.1) — 79KB
• ea021420601ex31-1_lakeside.htm (EX-31.1) — 7KB
• ea021420601ex31-2_lakeside.htm (EX-31.2) — 7KB
• ea021420601ex31-3_lakeside.htm (EX-31.3) — 7KB
• ea021420601ex32-1_lakeside.htm (EX-32.1) — 4KB
• ea021420601ex97-1_lakeside.htm (EX-97.1) — 23KB
• image_001.jpg (GRAPHIC) — 6KB
• ex10-6_001.jpg (GRAPHIC) — 2KB
• ex10-6_002.jpg (GRAPHIC) — 16KB
• ex10-7_001.jpg (GRAPHIC) — 2KB
• ex10-7_002.jpg (GRAPHIC) — 60KB
• 0001213900-24-083350.txt ( ) — 8149KB
• lsh-20240630.xsd (EX-101.SCH) — 88KB
• lsh-20240630_cal.xml (EX-101.CAL) — 68KB
• lsh-20240630_def.xml (EX-101.DEF) — 350KB
• lsh-20240630_lab.xml (EX-101.LAB) — 629KB
• lsh-20240630_pre.xml (EX-101.PRE) — 365KB
• ea0214206-10k_lakeside_htm.xml (XML) — 774KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 13 Item 1C. Cybersecurity 13 Item 2.

Properties

Properties 13 Item 3.

Legal Proceedings

Legal Proceedings 13 Item 4. Mine Safety Disclosures 13 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 6. Reserved 14 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 27 Item 9A.

Controls and Procedures

Controls and Procedures 27 Item 9B. Other Information 27 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 27 PART III Item 10. Directors, Executive Officers and Corporate Governance 28 Item 11.

Executive Compensation

Executive Compensation 32 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 34 Item 13. Certain Relationships and Related Transactions, and Director Independence 34 Item 14. Principal Accounting Fees and Services 35 PART IV Item 15. Exhibits, Financial Statement Schedules 36 Item 16. Form 10-K Summary 36

Signatures

Signatures 37 i EXPLANATORY NOTE As used in this Annual Report on Form 10-K, unless otherwise indicated or the context otherwise requires, references to "Lakeside," "the Company," "we," "us," and "our" refer to Lakeside Holding Limited together with its consolidated subsidiaries. ii CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this report, including statements regarding guidance, our future results of operations or financial condition, our future stock repurchase programs or stock dividends, business strategy and plans, user growth and engagement, product initiatives, objectives of management for future operations, and advertiser and partner offerings, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "going to," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions. We caution you that the foregoing may not include all of the forward-looking You should not rely on forward-looking primarily on our current expectations and projections about future events and trends, including our financial outlook, macroeconomic uncertainty, geo-political conflicts, and pandemics, that we believe may continue to affect our business, financ

Business

Item 1. Business. Overview We are a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market including China and South Korea. 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 offer a wide variety of integrated services under our cross-border ocean freight solutions and cross-border airfreight solutions, including (i) cross-border freight consolidation and forwarding services, (ii) customs clearance services, (iii) warehousing and distribution services and (iv) U.S. domestic ground transportation services. Founded in Chicago, Illinois in 2018, 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- 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 into the U.S. Since inception and as of June 30, 2024, we had served over 300 customers to fulfill over 41,000 cross-border supply chain solution orders. We have established an extensive collaboration network of service providers, including global freight carriers for our cross-border freight consolidation and forwarding services as well as domestic ground transportation carriers for our U.S. domestic transportation services. Since inception and as of June 30, 2024, we had collaborated with almost all major global ocean and air carriers to forward over 31,300 twenty-foot equivalent unit, or TEU, of container loads and 47,800 tons of air cargo. As of June 30, 2024, we had also cooperated with over 200 domestic ground transportation carriers, including almost all major U.S. domestic ground transportation carriers, on a long-term, sho

View Full Filing

View this 10-K filing on SEC EDGAR