Lakeside Strengthens Market Position in China's Pharmaceutical Logistics with Key Sinopharm(Hubei) Contracts

ITASCA,Ill.,Nov. 25,2024 -- 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"),announces that Hupan Pharmaceutical (Hubei) Co.,Ltd. ("Hupan Pharmaceutical"),a company recently acquired by Lakeside,has established partnership with Sinopharm GroupHubei Co.,Ltd. ("Sinopharm Hubei").Sinopharm Hubei is a subsidiary of Sinopharm Group Co.,Ltd.,a leader in China's pharmaceutical industry. This partnership for essential medicine storage,transportation,and logistics services positions Lakeside for accelerated growth and solidifies its foothold in China's medical logistics sector.

Hupan Pharmaceutical's partnershipwith Sinopharm Hubei underscoresthe growing demand for specialized logistics and supply chain solutions in China's healthcare market. Through this partnership,Hupan Pharmaceutical will support Sinopharm Hubei's comprehensive pharmaceutical distribution needs,ensuring high standards in storing and transporting pharmaceutical products,including refrigerated and frozen medications,peptide hormones,and other essential medical supplies. This partnershipshowcasesHupan Pharmaceutical's trusted expertise in the complex clinical supply requirements in oncology,antibiotics,large-volume infusions,and aesthetic medicine.

The acquisition ofHupan Pharmaceutical is anticipated to contribute approximately $7 million in annual revenues for Lakeside. The partnership with Sinopharm Hubei reinforcesLakeside's expanding presence,unlocksnew revenue streams,and strengthensits capability to provide high-quality logistics solutions tailored for China's healthcare market. With Lakeside's strategic and technological strengths combined with Hupan Pharmaceutical's established service network,the Company is poised to meet the rising demands of China's pharmaceutical logistics sector.

Henry Liu,Chairman & CEO of Lakeside,commented:"Our recent acquisition of Hupan Pharmaceutical and the resulting partnerships with an industry leader like Sinopharm mark a new chapter of growth for Lakeside. We are dedicated to leveraging these relationships to deliver exceptional value in pharmaceutical logistics,strengthening our position within China's healthcare industry. Sinopharm's trust in Hupan's capabilities is a testament to the quality of our solutions and our commitment to expanding our presence in critical and emerging markets."

About Lakeside Holding Limited

Lakeside Holding Limited,based inItasca,IL,is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market,includingChinaandSouth 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 customer's 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 typicallyAsia- 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 inAsiainto the U.S. For more information,please visithttps://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]