Lakeside Holding Enters Medical Logistics Sector with Acquisition of Hupan Pharmaceutical (Hubei) Co., Ltd.

Acquisition Strengthens Lakeside's Pharmaceutical Logistics Capabilities in China, Projected to Add US$7 Million in Annual Revenue

ITASCA, Ill., Nov. 11, 2024 /PRNewswire/ -- 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), is pleased to announce that through its wholly-owned subsidiary Sichuan Hupan Jincheng Enterprise Management Co., Ltd. ("Sichuan Hupan"), has entered into an equity transfer agreement to acquire Hupan Pharmaceutical (Hubei) Co., Ltd. ("Hupan Pharmaceutical"), gaining entry into the medical logistics sector. The acquisition, valued at RMB 4.0 million (US$0.6 million), is anticipated to deliver approximately US$7 million of annual revenues to Lakeside.

Founded in May 2024 and headquartered in Wuhan, Hupan Pharmaceutical is a comprehensive pharmaceutical distribution and supply chain service provider with verticals in brand promotion and healthcare technology support. Hupan Pharmaceutical is licensed for drug wholesale, retail, and third-class medical device distribution in China, with recent expansion to include refrigerated and frozen pharmaceuticals, peptide hormones, and other critical medications.

Hupan Pharmaceutical has partnerships with leading pharmaceutical manufacturers, regional healthcare institutions, and 15 major hospitals in Wuhan, including the Sinopharm Group Hubei Co., Ltd. The Sinopharm Group Hubei Co., Ltd. is the subsidiary of Sinopharm Group Co., Ltd.(Sinopharm Holding). Sinopharm Holding a top player in China's pharmaceutical industry, ranked 24th in the 2022 Fortune China 500 and first among pharmaceutical companies. It is recognized as a "2022 National Demonstration Enterprise for Supply Chain Innovation and Application" and among the top 100 most valuable Chinese brands.With an MSCI ESG rating of A, Sinopharm Holding is an industry leader in corporate responsibility and supply chain stability.

Known for its extensive clinical supply expertise in oncology, antibiotics, large-volume infusions, and aesthetic medicine, Hupan Pharmaceutical is well-positioned to meet the needs of a broad range of healthcare institutions across Hubei.

"The acquisition of Hupan Pharmaceutical provides Lakeside with an important foothold into the lucrative medical logistics trade," said Henry Liu, Chairman & CEO of Lakeside. "With American Bear Logistics and now Hupan Pharmaceutical, Lakeside is positioned with two highly specialized companies, each supported by experienced teams, advanced technology, and a solid foundation of customer trust. This acquisition enables us to bring top-tier logistics and supply chain solutions to the pharmaceutical sector in China, expanding our reach and capabilities across critical and emerging markets."

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  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: [email protected]