LAKESIDE HOLDING EXPANDS DALLAS-FORT WORTH OPERATIONS WITH NEW OFFICE AND WAREHOUSE LEASE

Rhea-AI Summary

Lakeside Holding (Nasdaq: LSH), operating as American Bear Logistics (ABL), has expanded its Dallas-Fort Worth operations with a new office and warehouse lease. The new facility, at 46,657 square feet, is more than double the size of the previous 20,000 square foot location. This expansion aims to enhance ABL's cross-border logistics solutions and service capacity.

Key aspects of the expansion include:

• Increased space to accommodate more inventory and streamline operations
• Additional staff hired to support expanded operations
• Advanced technology and systems for improved order fulfillment

The move is in response to growing demand for ABL's services and aligns with the company's growth strategy in the Asian market.

Positive

• More than doubled warehouse space from 20,000 to 46,657 square feet
• Increased workforce to support expanded operations
• Implementation of advanced technology for improved efficiency
• Expansion in response to growing demand for services

Negative

• None.

News Market Reaction

-0.31%

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-0.31% News Effect

On the day this news was published, LSH declined 0.31%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Doubling Space and Increasing Workforce to Enhance Service Capacity

ITASCA, Ill., Sept. 10, 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 the expansion of its Dallas-Fort Worth operations with a new office and warehouse lease. The new premises, located in the heart of Dallas-Fort Worth, is over twice the size of the previous location, expanding from approximately 20,000 square feet to an impressive 46,657 square feet.

This expansion is in response to the growing demand for ABL's customized cross-border logistics solutions and will enable the company to better serve its customers with increased efficiency and capacity. Alongside the new lease, ABL has bolstered its team with additional staff to support its expanded operations and ensure the highest level of service for its clients. The new Dallas-Fort Worth office and warehouse will feature advanced technology and systems to further streamline operations, ensuring timely and accurate order fulfillment. ABL's team of logistics experts will leverage this increased capacity to enhance service delivery and support the company's ongoing growth strategy.

Key Highlights of the Expansion:

New Larger Facility: The new location boasts 46,657 square feet, more than doubling the space of the previous 20,000 square feet facility. This significant increase in space will accommodate more inventory, streamline operations, and enhance overall logistics capabilities.

Increased Workforce: To support the expanded operations, ABL has hired additional staff, enhancing its ability to meet the growing needs of its clients and maintain its commitment to excellent customer service.

"This expansion marks a significant milestone for American Bear Logistics and reflects our commitment to providing top-notch logistics solutions to our clients," said Henry Liu, Chairman & CEO of Lakeside. "With the larger facility and increased workforce, we are well-positioned to handle the rising demand and continue delivering efficient, reliable, and innovative services."

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

View original content:https://www.prnewswire.com/news-releases/lakeside-holding-expands-dallas-fort-worth-operations-with-new-office-and-warehouse-lease-302243651.html

SOURCE Lakeside Holding Limited

FAQ

What is the new size of Lakeside Holding's Dallas-Fort Worth facility?

Lakeside Holding's new Dallas-Fort Worth facility is 46,657 square feet, more than doubling the previous 20,000 square feet location.

Why did Lakeside Holding (LSH) expand its Dallas-Fort Worth operations?

Lakeside Holding expanded its Dallas-Fort Worth operations in response to growing demand for its cross-border logistics solutions and to enhance service capacity for its customers.

What improvements are included in Lakeside Holding's (LSH) new Dallas-Fort Worth facility?

The new facility includes advanced technology and systems to streamline operations, increased space for inventory, and additional staff to support expanded operations and improve service delivery.

How does the Dallas-Fort Worth expansion align with Lakeside Holding's (LSH) business strategy?

The expansion aligns with Lakeside Holding's growth strategy, particularly in serving the Asian market, by increasing capacity and efficiency in its cross-border logistics solutions.