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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

February 14, 2025

 

LAKESIDE HOLDING LIMITED

(Exact Name of Registrant as Specified in its Charter)

 

Nevada   001-42140   82-1978491

(State or other jurisdiction

of incorporation)

   (Commission File Number)   (I.R.S. Employer
Identification No.)

 

1475 Thorndale Avenue, Suite A

Itasca, Illinois 60143

(Address of Principal Executive Offices and Zip Code)

 

(224) 446-9048

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common stock, par value US$0.0001 per share   LSH   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

On February 14, 2025, Lakeside Holding Limited (the “Company”) announced its financial results for the fiscal quarter ended December 31, 2024. A copy of the press release is attached as Exhibit 99.1 to this Report.

 

The information under this Item 2.02, including Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended or the Exchange Act, except as will be expressly set forth by specific reference in such a filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
     
99.1   Press Release - Lakeside Announces Fiscal 2025 Second Quarter and Six - Month Results
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: February 14, 2025  
   
  Lakeside Holding Limited
     
  By: /s/ Henry Liu
    Henry Liu
    Chairman and Chief Executive Officer

 

2

 

Exhibit 99.1

 

Lakeside Announces Fiscal 2025 Second Quarter and Six-Month Results

 

Itasca, IL, February 14, 2024 -- 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.

 

Management Commentary

 

Henry 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.”

 

Operational Highlights

 

E-Commerce & Cross-Border Logistics:

 

●Entered one-year agreement with a major Asian e-commerce platform

 

●Partnered with a leading global social media and e-commerce platform for customs brokerage services

 

●Launched new Pick & Pack Fulfillment service for a major Chinese logistics partner

 

U.S. Facilities Expansion:

 

●Expanded Dallas-Fort Worth operations:

 

oMore than doubled warehouse space from 20,000 to 46,657 square feet

 

oAdded staff to support expanded operations

 

oPart of multi-hub strategy including Chicago O’Hare (ORD), Dallas-Fort Worth (DFW), and Los Angeles (LAX)

 

Medical/Pharmaceutical Business Development:

 

●Acquired Hupan Pharmaceutical (Hubei) Co., Ltd:

 

oPurchase price: RMB 4.0M ($0.6M)

 

oExpected annual revenue contribution: $7M

 

oGained licenses for drug wholesale, retail, and medical device distribution

 

oPartnerships with 15 major Wuhan hospitals

 

 

 

 

●Established partnership with Sinopharm Group Hubei Co., Ltd. for:

 

oEssential medicine storage

 

oTransportation services

 

oLogistics services

 

●Signed RMB 11.0M ($1.5M) sales agreement with Sinopharm Holding Hubei New Special Medicine Co., Ltd:

 

oOne-year contract effective January 1, 2025

 

oCovers critical medicines including Sodium Bicarbonate, Glucose, and Glucose Sodium Chloride

 

Financial Results for the Three Months Ending December 31, 2024:

 

Total revenues decreased by $1.5 million, or 31.3% to $3.4 million for the three months ended December 31, 2024, compared with $4.9 million for the three months ended December 31, 2023. The decrease was primarily driven by a significant decline in volume we handled from our cross-border airfreight solutions.

 

●Revenues from our cross-border airfreight solutions decreased by $1.1 million or 35.5%, from $3.1 million in the three months ended December 31, 2023, to $2.0 million in the three months ended December 31, 2024. The decrease was primarily due to a decrease in the volume of cross-border air freight processed, from approximately 8,217 tons for the three months ended December 31, 2023, to approximately 4,459 tons for the three months ended December 31, 2024.

 

●Revenues from our cross-border ocean freight solutions decreased by $0.4 million, or 24.2%, from $1.8 million in the three months ended December 31, 2023, to $1.4 million in the three months ended December 31, 2024. This reduction was primarily due to a decrease in the volume of cross-border ocean freights processed and forwarded, dropping from 1,330 TEU in the three months ended December 31, 2023, to 1,046 TEU in the three months ended December 31, 2024.

 

●For the three months ended December 31, 2024, our total revenue from pharmaceutical product distribution amounted to $0.2 million, compared to no revenue from this segment in the same period of the prior year. Starting from December 2024, we established a new revenue stream through the distribution of pharmaceutical products. We procured pharmaceuticals—primarily pharmaceutical solutions—directly from manufacturers and supplied them to distributors, hospitals, and clinics.

 

2

 

 

Revenues by Customer Geographic

 

   For the three months ended December 31,         
   2024   2023         
Revenues  Amount   % of
total
Revenues		   Amount   % of
total
Revenues		   Amount
Increase
(Decrease)		   Percentage
Increase
(Decrease)		 
Revenue from cross-border freight solutions                        
Asia-based customers  $2,750,202    76.5%  $2,602,745    52.9%  $147,457    5.7%
U.S.-based customers   627,301    17.4%   2,313,358    47.1%   (1,686,057)   (72.9)%
    3,377,503    93.9%   4,916,103    100.0%   (1,538,600)   (31.3)%
Revenue from distribution of pharmaceuticals                              
Asia-based customers   218,086    6.1%   -    -    218,086    N/A 
Total revenues  $3,595,587    100.0%  $4,916,103    100.0%  $(1,320,514)   (26.9)%

 

●Revenues from Asia-based customers increased by $0.1 million, or 5.7%, from $2.6 million in the three months ended December 31, 2023, to $2.8 million in the three months ended December 31, 2024. The increase in revenues from Asia-based customers was driven by a surge in volume from these customers, particularly those serving large e-commerce platforms. This growth reflects the rising demand for our services, a direct result of the overall expansion of the U.S. e-commerce market.

 

●Revenues from U.S.-based customers decreased by $1.7 million, or 72.9%, from $2.3 million in the three months ended December 31, 2023 to $0.6 million in the same period in 2024. The decrease in revenue from the U.S.-based customers in the three months ended December 31, 2024, compared to the same period in 2023, was primarily due to our strategic shift toward Asia-based e-commerce customers.

 

Total cost of revenues decreased by $0.2 million, or 5.6%, from $3.9 million in the three months ended December 31, 2023, to $3.6 million in the three months ended December 31, 2024.

 

Our overall gross loss was $42,231 in the three months ended December 31, 2024, compared to gross profit of $1,064,509 in same period last year. Our gross margin was mainly impacted by higher cost of revenue, particular in fixed overhead costs, and an industry-wide decline in revenue.

 

Our gross margin of distribution of pharmaceuticals was 44.2% for the three months ended December 31, 2024.

 

General and administrative expenses increased by $0.9 million, or 94.1%, from $1.0 million in the three months ended December 31, 2023, to $1.9 million in the three months ended December 31, 2024. These expenses represented 53.2% and 20.0% of our total revenues for the three months ended December 31, 2024 and 2023, respectively. The increase was primarily attributed to higher salary and employee benefit expenses and professional fees operating as a listed company.

 

Net loss was $1.9 million for the three months ended December 31, 2024, compared to a net income of $0.06 million for the three months ended December 31, 2023.

 

3

 

 

Financial Results for the Six Months Ending December 31, 2024:

 

Total revenues decreased by $1.6 million, or 17.7%, from $9.1 million for the six months ended December 31, 2023, to $7.5 million for the six months ended December 31, 2024. The decrease was primarily driven by a significant decline in volume we handled from our cross-border airfreight solutions.

 

●Revenues from our cross-border airfreight solutions decreased by $1.3 million or 23.4%, from $5.5 million in the six months ended December 31, 2023, to $4.2 million in the six months ended December 31, 2024. The decrease was primarily due to a decrease in the volume of cross-border air freight processed, from approximately 16,034 tons for the six months ended December 31, 2023, to approximately 11,732 tons for the six months ended December 31, 2024.

 

●Revenues from our cross-border ocean freight solutions decreased by $0.3 million, or 8.7%, from $3.5 million in the six months ended December 31, 2023, to $3.2 million in the six months ended December 31, 2024. This growth was primarily due to a decrease in the volume of cross-border ocean freights processed and forwarded, dropping from 2,620 TEU in the six months ended December 31, 2023, to 2,476 TEU in the six months ended December 31, 2024.

 

Revenues by Customer Geographic

 

   For the six months ended December 31,         
   2024   2023         
Revenues  Amount   % of
total
Revenues		   Amount   % of
total
Revenues		   Amount
Increase
(Decrease)		   Percentage
Increase
(Decrease)		 
Revenue from cross-border freight solutions                        
Asia-based customers  $5,559,837    72.4%  $4,296,968    47.4%  $1,262,869    29.4%
U.S.-based customers   1,899,220    24.7%   4,767,611    52.6%   (2,868,391)   (60.2)%
    7,459,057    97.2%   9,064,579    100.0%   (1,605,522)   (17.7)%
Revenue from distribution of pharmaceuticals                              
Asia-based customers   218,086    2.8%   -    -    218,086    N/A 
Total revenues  $7,677,143    100.0%  $9,064,579    100.0%  $(1,387,436)   (15.3)%

 

●Revenues from Asia-based customers increased by $1.3 million, or 29.4%, from $4.3 million in the six months ended December 31, 2023, to $5.6 million in the six months ended December 31, 2024. The increase in revenues from Asia-based customers was driven by an increase in volume from these customers, particularly those serving large e-commerce platforms. This growth reflects the rising demand for our services, a direct result of the overall expansion of the U.S. e-commerce market.

 

●Revenues from cross-border freight solutions for the U.S.-based customers decreased by $2.9 million, or 60.2%, from $4.8 million in the six months ended December 31, 2023 to $1.9 million in the same period in 2024. The decrease in revenue from the U.S.-based customers in the three months ended December 31, 2024, compared to the same period in 2023, was primarily due to our strategic shift toward Asia-based e-commerce customers.

 

4

 

 

Cost of revenues decreased by $0.2 million, or 2.1%, from $7.4 million in the six months ended December 31, 2023, to $7.2 million in the six months ended December 31, 2024.

 

Gross profit decreased by $1.2 million, or 71.9%, from $1.7 million in the six months ended December 31, 2023, to $0.5 million in the six months ended December 31, 2024. Our gross margin of cross-border freight solution was 5.1% for the six months ended December 31, 2024, compared to 18.9% for the six months ended December 31, 2023. The decline in gross margin was primarily attributable to reduced revenue from cross-border airfreight solutions and an increase in our cost of revenue in warehouse services, custom declaration and terminal charges, freights arranged charges and overhead costs allocated.

 

General and administrative expenses increased by $1.9 million, or 103.7%, from $1.8 million in the six months ended December 31, 2023, to $3.7 million in the six months ended December 31, 2024. These expenses represented 48.8% and 20.3% of our total revenues for the six months ended December 31, 2024 and 2023, respectively. The increase was primarily attributed to higher salary and employee benefit expenses, professional fees, office expenses and traveling, insurance expenses and entertainment expenses, operating as a listed company.

 

Net loss was $3.3 million for the six months ended December 31, 2024, compared to a net loss of $0.2 million for the six months ended December 31, 2023.

 

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 Tuesday, February 17 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: LAKESIDE. **NOTE: THIS CONFERENCE ID WILL BE REQUIRED FOR ENTRY

 

A live audio conference call webcast will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1708554&tp_key=b4f1b10725

 

5

 

 

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 https://lakeside-holding.com.

 

Safe Harbor Statement

 

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.

 

Investor Relations Contact:

Matthew Abenante, IRC

President

Strategic Investor Relations, LLC

Tel: 347-947-2093

Email: matthew@strategic-ir.com

 

(tables follow)

 

6

 

 

LAKESIDE HOLDING LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 

  

As of
December 31,
2024

(unaudited)

  

As of
June 30,
2024

(audited)

 
ASSETS        
CURRENT ASSETS        
Cash  $       1,123,414   $123,550 
Accounts receivable – third parties, net   1,645,774    2,082,152 
Accounts receivable – related party, net   207,293    763,285 
Prepayment and other receivable   49,476    — 
Contract assets   31,388    129,506 
Inventory, net   10,328    — 
Due from related parties   682,980    441,279 
Loan to a third party   686,697    — 
Total current assets   4,437,350    3,539,772 
           
NON-CURRENT ASSETS          
Investment in other entity   15,741    15,741 
Property and equipment at cost, net of accumulated depreciation   514,073    344,883 
Intangible asset, net   418,867    — 
Right of use operating lease assets   4,074,617    3,471,172 
Right of use financing lease assets   110,998    37,476 
Deferred tax asset   —    89,581 
Deferred offering costs   —    1,492,798 
Deposit and prepayment   265,480    202,336 
Total non-current assets   5,399,776    5,653,987 
TOTAL ASSETS  $9,837,126   $9,193,759 
           
LIABILITIES AND EQUITY          
CURRENT LIABILITIES          
Accounts payables – third parties  $1,233,142   $1,161,858 
Accounts payables – related parties   71,557    227,722 
Accrued liabilities and other payables   1,244,501    1,335,804 
Current portion of obligations under operating leases   2,203,766    1,186,809 
Current portion of obligations under financing leases   48,865    37,619 
Loans payable, current   609,935    746,962 
Dividend payable   —    98,850 
Tax payable   79,825    79,825 
Due to shareholders   —    1,018,281 
Total current liabilities   5,491,591    5,893,730 
           
NON-CURRENT LIABILITIES          
Loans payable, non-current   174,846    136,375 
Deferred tax liabilities   104,717    — 
Obligations under operating leases, non-current   2,339,439    2,506,402 
Obligations under financing leases, non-current   80,252    17,460 
Total non-current liabilities   2,699,254    2,660,237 
TOTAL LIABILITIES  $8,190,845   $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 December 31, 2024 and June 30, 2024, respectively   750    600 
Subscription receivable   —    (600)
Additional paid-in capital   4,942,791    642,639 
Accumulated other comprehensive income   (9,214)   2,972 
Deficits   (3,288,046)   (5,819)
Total equity   1,646,281    639,792 
           
TOTAL LIABILITIES AND EQUITY  $9,837,126   $9,193,759 

 

7

 

 

LAKESIDE HOLDING LIMITED
CONDENSED CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

 

   Six Months Ended
December 31,		   Three Months Ended
December 31,		 
   2024   2023   2024   2023 
Revenue from cross-border freight solutions – third party  $6,702,063   $8,639,983   $3,102,276   $4,585,696 
Revenue from cross-border freight solutions – related parties   756,994    424,596    275,227    330,407 
Revenue from distribution of pharmaceutical products – third parties   218,086    —    218,086    — 
Total revenue   7,677,143    9,064,579    3,595,589    4,916,103 
                     
Cost of revenue from cross-border freight solutions – third party   6,153,994    6,329,650    3,159,709    3,424,053 
Cost of revenue from cross-border freight solutions – related party   921,050    1,022,877    356,320    427,541 
Cost of revenue from pharmaceutical products – related parties   121,791    —    121,791    — 
Total cost of revenue   7,196,835    7,352,527    3,637,820    3,851,594 
Gross profit (loss)   480,308    1,712,052    (42,231)   1,064,509 
                     
Operating expenses:                    
Selling expenses   54,488    —    54,488    — 
General and administrative expenses   3,749,059    1,840,831    1,911,853    985,053 
Loss from deconsolidation of a subsidiary   —    73,151    —    — 
Provision (reversal) of allowance for expected credit loss   1,956    49,591    (10,881)   (2,531)
Total operating expenses   3,805,503    1,963,573    1,955,460    982,522 
                     
Income (loss) from operations   (3,325,195)   (251,521)   (1,997,691)   81,987 
                     
Other income                    
Other income, net   201,541    88,449    91,753    41,500 
Interest expense   (68,992)   (53,864)   (40,882)   (31,079)
Total other income   132,549    34,585    50,871    10,421 
                     
(Loss) income before income taxes   (3,192,646)   (216,936)   (1,946,820)   92,408 
Income tax expense (credit)   89,581    26,125    —    28,184 
Net (loss) income   (3,282,227)   (243,061)   (1,946,820)   64,224 
Less: net loss attributable to non-controlling interest   —    (3,025)   —    — 
Net (loss) income attributable to the Company   (3,282,227)   (240,036)   (1,946,820)   64,224 
                     
Other comprehensive (loss) income:                    
Foreign currency translation income   (12,186)   3,122    (25,179)   — 
Comprehensive (loss) income   (3,294,413)   (239,939)   (1,971,999)   64,224 
Less: comprehensive loss attributable to non-controlling interest   —    (3,119)   —    — 
Comprehensive (loss) income attributable to the Company  $(3,294,413)  $(236,820)  $(1,971,999)  $64,224 
                     
(Loss) earnings per share – basic and diluted  $(0.44)  $(0.04)  $(0.26)  $0.01 
Weighted Average Shares Outstanding – basic and diluted   7,500,000    6,000,000    7,500,000    6,000,000 

 

8

 

 

LAKESIDE HOLDING LIMITED
CONDENSSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

   For the Six Months Ended
December 31,		 
   2024   2023 
Cash flows from operating activities:        
Net loss  $(3,282,227)  $(243,061)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation – G&A   50,804    35,991 
Depreciation – cost of revenue   36,328    36,328 
Amortization and interest expense of operating lease assets   989,003    439,142 
Depreciation of right-of-use finance assets   15,480    14,385 
Provision of allowance for expected credit loss   1,956    49,591 
Deferred tax expense   89,581    26,125 
Loss from derecognition of shares in subsidiary   —    73,151 
Changes in operating assets and liabilities:          
Accounts receivable – third parties   424,648    (479,056)
Accounts receivable – related parties   565,766    (192,609)
Contract assets   98,118    (27,169)
Inventories, net   (10,328)   — 
Due from related parties   (241,702)   40,740 
Prepayment, other deposit   (112,620)   (23,269)
Accounts payables – third parties   28,285    539,542 
Accounts payables – related parties   (156,165)   241,721 
Accrued expense and other payables   312,722    122,547 
Operating lease liabilities   (742,649)   (396,263)
Net cash (used in) provided by operating activities   (1,933,000)   257,836 
           
Cash flows from investing activities:          
Purchase of furniture and equipment   (36,072)   — 
Payment for leasehold improvement   (75,008)   — 
Net cash payment for asset acquisition   (552,721)   — 
Loan to a third party   (686,697)   — 
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   (1,350,498)   (78,799)
           
Cash flows from financing activities:          
Proceeds from loans   195,000    225,000 
Repayment of loans   (339,914)   (185,856)
Repayment of equipment and vehicle loans   (55,877)   (59,708)
Principal payment of finance lease liabilities   (14,964)   (13,429)
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    — 
Advanced to related parties   (311,185)   — 
Proceeds from shareholders   —    158,455 
Repayment to shareholders   (805,345)   — 
Net cash provided by (used in) financing activities   4,295,361    (15,538)
           
Effect of exchange rate changes on cash   (11,999)   3,216 
Net increase in cash   999,864    166,715 
Cash, beginning of the period   123,550    174,018 
Cash, end of the period  $1,123,414   $340,733 
           
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:          
Cash paid for income tax  $—   $— 
Cash paid for interest  $45,953   $15,503 
           
SUPPLEMENTAL SCHEDULE OF NON-CASH IN INVESTING AND FINANCING ACTIVITIES          
Deferred offering costs within due to shareholders  $—   $500,826 
Deferred offering costs within accrued expense and other payables  $—   $241,176 
Additions to property and equipment included in loan payable  $102,235    — 
Additions to leasehold improvement and furniture and fixture through account payable  $42,803   $— 
Settlement of due to shareholder and advance to related party  $311,815    — 
           
NON-CASH ACTIVITIES          
Right of use assets obtained in exchange for operating lease obligations  $1,445,498   $— 
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)

 

9

 

 

v3.25.0.1
Cover
Feb. 14, 2025
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Feb. 14, 2025
Entity File Number 001-42140
Entity Registrant Name LAKESIDE HOLDING LIMITED
Entity Central Index Key 0001996192
Entity Tax Identification Number 82-1978491
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 1475 Thorndale Avenue
Entity Address, Address Line Two Suite A
Entity Address, City or Town Itasca
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60143
City Area Code 224
Local Phone Number 446-9048
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, par value US$0.0001 per share
Trading Symbol LSH
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
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