Mon, Sep 30, 8:05 PM (82 days ago)
Lakeside Holding Limited, an integrated cross-border supply chain provider, reported a significant increase in revenue from $12.9 million in FY2023 to $18.3 million in FY2024, driven mainly by a 117.6% surge in cross-border airfreight solutions. However, the company experienced a net loss of $225,252 in FY2024, a decline from a net income of $983,602 in FY2023, attributed to rising operating expenses, including a 77.5% increase in general and administrative costs. The company operates two regional warehousing centers and has established a strong network with over 300 customers, fulfilling over 41,000 orders valued at $1 billion. Despite growth, Lakeside faces risks such as fluctuating operational costs and market competition. The recent IPO raised approximately $6.75 million, enhancing liquidity, but the current ratio stands at 0.6:1, indicating potential liquidity challenges. Future strategies include expanding service offerings and geographic reach, with a focus on the Asian market. The company also plans to enhance operational efficiencies and maintain service quality while navigating the complexities of regulatory compliance and market dynamics.