LAKESIDE ENTERS INTO LOGISTICS AGREEMENT WITH LEADING E-COMMERCE PLATFORM

Rhea-AI Summary

Lakeside Holding (Nasdaq: LSH) has entered into a one-year agreement with automatic annual renewals with a leading Asia-based e-commerce platform to provide cross-border fulfillment services. The collaboration aims to enhance the cross-border shopping experience for sellers by offering a comprehensive suite of logistics services, including air and ocean freight entry, customs declaration, freight recovery, parcel handling, and delivery assistance.

The partnership will leverage Lakeside's advanced technology and IT team to streamline the fulfillment process through API integration, providing real-time visibility and control over the supply chain. This integration will offer sellers up-to-date information on order status, inventory levels, and delivery timelines. Lakeside's expertise in international shipping regulations and customs procedures will allow sellers to focus on their core business, while its global network will provide various shipping options to enhance customer experience.

Positive

• Partnership with a major e-commerce platform that generated $18 billion in gross market value of transactions in 2023
• Expansion of cross-border fulfillment services, potentially increasing revenue streams
• Implementation of API integration for real-time supply chain visibility, enhancing operational efficiency
• Leveraging expertise in international shipping regulations to provide value-added services

Negative

• None.

Empowers Online Marketplace Sellers with Seamless Cross-Border Fulfillment

Itasca, IL, July 31, 2024 (GLOBE NEWSWIRE) -- Lakeside Holding Limited (“Lakeside” or the “Company”) (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics (ABL), today announced that the Company has entered into a one-year agreement with automatic annual renewals with a leading Asia-based e-commerce platform (the “Marketplace”) to provide cross-border fulfillment services. This collaboration is set to enhance the cross-border shopping experience for sellers by providing a comprehensive suite of logistics services tailored to their unique needs, including entry service on air and ocean freight, customs declaration, freight recovery services at destination,  parcel handling services, and assistance with parcel delivery.

This partnership will leverage the Company’s state-of-the-art technology and dedicated IT team to streamline the entire fulfillment process for the Marketplace. Through seamless API integration, the Marketplace will directly link with Lakeside's robust logistics platform, ensuring real-time visibility and control over the supply chain. This integration will empower sellers with up-to-the-minute updates on order status, inventory levels, and delivery timelines, fostering a transparent and efficient cross-border shopping experience.

Lakeside's expertise in navigating complex international shipping regulations and customs procedures will, allow sellers to focus on their core business. Additionally, Lakeside's extensive network of global partners and carriers will enable sellers to offer their customers various reliable and cost-effective shipping options, further enhancing the customer experience.

“Our collaboration reaffirms our commitment to providing cutting-edge logistics solutions that empower e-commerce businesses to thrive in the global marketplace,” said Henry Liu, Chairman & CEO of Lakeside. “Partnering with a leading and growing e-commerce platform that generated $18 billion of gross market value of transactions in 2023 is a testament to our dedicated team that we have earned the trust of a premiere partner, and we look forward to the opportunity to deliver world-class service to their valued sellers.”

About Lakeside Holding Limited

Lakeside Holding Limited, based in Itasca, IL, is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, including China and South Korea. Operating under the brand American Bear Logistics, 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 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. 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, including those listed under “Risk 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

FAQ

What services will Lakeside (LSH) provide under the new logistics agreement?

Lakeside (LSH) will provide cross-border fulfillment services including entry service on air and ocean freight, customs declaration, freight recovery services, parcel handling, and assistance with parcel delivery for sellers on the e-commerce platform.

How will the API integration benefit sellers on the e-commerce platform partnered with Lakeside (LSH)?

The API integration will provide sellers with real-time updates on order status, inventory levels, and delivery timelines, enabling better visibility and control over their supply chain operations.

What is the duration of the logistics agreement between Lakeside (LSH) and the e-commerce platform?

The agreement is for one year with automatic annual renewals, indicating a potentially long-term partnership between Lakeside (LSH) and the e-commerce platform.

What was the gross market value of transactions for the e-commerce platform partnering with Lakeside (LSH) in 2023?

The e-commerce platform partnering with Lakeside (LSH) generated $18 billion in gross market value of transactions in 2023.