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: matthew@strategic-ir.com
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SOURCE Lakeside Holding Limited