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Lakeside Holding Limited(LSH) - 2024 Q4 - Annual Results
LSHLakeside Holding Limited(LSH)2024-10-01 20:01

Revenue Growth - Total revenues increased by 42.3% to 18.3million,drivenbya117.618.3 million, driven by a 117.6% rise in airfreight revenues to 10.4 million[2] - Total revenue increased to 18,315,155in2024from18,315,155 in 2024 from 12,872,891 in 2023, representing a growth of approximately 42.5%[14] Profitability - Gross profit increased by 44.9% to 3.7million,withtheprofitmarginrisingfrom19.93.7 million, with the profit margin rising from 19.9% to 20.3%[3] - Gross profit rose to 3,715,957 in 2024, up from 2,564,289in2023,indicatingagrossmarginimprovement[14]−Thenetlossattributabletocommonstockholderswas2,564,289 in 2023, indicating a gross margin improvement[14] - The net loss attributable to common stockholders was 225,252 in 2024, compared to a net income of 983,602in2023,reflectingasubstantialdecline[14]−TheCompanyreportedalossfromdeconsolidationofasubsidiaryamountingto983,602 in 2023, reflecting a substantial decline[14] - The Company reported a loss from deconsolidation of a subsidiary amounting to 73,151 in 2024[14] - The company experienced a comprehensive loss income attributable to the Company of 222,036in2024,comparedtoacomprehensiveincomeof222,036 in 2024, compared to a comprehensive income of 983,358 in 2023[14] Expenses - General and administrative expenses rose by 77.5% to 4.1million,drivenbyincreasedstaffingcostsandhigherprofessionalfees[3]−Operatingexpensesincreasedsignificantlyto4.1 million, driven by increased staffing costs and higher professional fees[3] - Operating expenses increased significantly to 4,241,998 in 2024 from 2,317,392in2023,primarilydrivenbyhighergeneralandadministrativeexpenses[14]−Cashflowsfromoperatingactivitiesshowedanetcashusedof2,317,392 in 2023, primarily driven by higher general and administrative expenses[14] - Cash flows from operating activities showed a net cash used of 53,640 in 2024, contrasting with a net cash provided of 39,303in2023[18]−Thecompanyincurredinterestexpensesof39,303 in 2023[18] - The company incurred interest expenses of 108,008 in 2024, down from 123,600in2023,showingareductioninfinancingcosts[14]StrategicInitiatives−Aone−yearrenewableagreementwasestablishedwithaleadingAsia−basede−commerceplatformforadvancedcross−borderfulfillmentservices[5]−Astrategicpartnershipwasannouncedwithamajorsocialmediaande−commerceplatformtoenhancecustomsbrokerageservices[6]−TheCompanyiscommittedtoexpandingservicecapacityandmaintainingexceptionalservicelevelstomeetgrowingdemand[8]OperationalExpansion−TheCompanyexpandeditsDallas−FortWorthoperations,morethandoublingfacilityspaceto46,657sq.ft.[7]−Thevolumeofairfreightprocesseddoubledtoover26,000tonsinfiscalyear2024comparedtofiscalyear2023[8]FinancialPosition−Totalliabilitiesandequitystoodat123,600 in 2023, showing a reduction in financing costs[14] Strategic Initiatives - A one-year renewable agreement was established with a leading Asia-based e-commerce platform for advanced cross-border fulfillment services[5] - A strategic partnership was announced with a major social media and e-commerce platform to enhance customs brokerage services[6] - The Company is committed to expanding service capacity and maintaining exceptional service levels to meet growing demand[8] Operational Expansion - The Company expanded its Dallas-Fort Worth operations, more than doubling facility space to 46,657 sq. ft.[7] - The volume of air freight processed doubled to over 26,000 tons in fiscal year 2024 compared to fiscal year 2023[8] Financial Position - Total liabilities and equity stood at 9,193,759 in 2024, compared to 5,471,946in2023,indicatingasignificantincrease[14]−TheCompanyraised5,471,946 in 2023, indicating a significant increase[14] - The Company raised 6.75 million in gross proceeds from an upsized IPO, indicating strong investor confidence[5] Share Information - The weighted average shares outstanding remained constant at 6,000,000 for both 2024 and 2023[14]