Board of Directors authorizes repurchase of up to $30 million of the Company’s common stock

LOS ANGELES, Nov. 3, 2026 /PRNewswire/ — XMax Inc. (NASDAQ: XMAX) (“XMax” or the “Company”), a distributor of contemporary furniture and artificial intelligence software and platform-based service provider, today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $30 million in aggregate purchase price of its outstanding common stock, par value $0.001 per share. Shares may be repurchased only at prices below $5.50 per share.

“The Board’s authorization of this share repurchase program reflects our confidence in XMax’s long-term strategy and our commitment to creating value for shareholders,” said Andy Lu, Chief Executive Officer of XMax. “As we continue to develop our artificial intelligence software and platform-based services alongside our contemporary furniture business, we intend to take a disciplined approach to capital allocation, balancing investment in the growth of the business with returns to our shareholders.”

The program will begin on a date to be determined (the “Commencement Date”) after the Company has (i) publicly released its financial results for the fiscal quarter ended September 30, 2026 by press release (“Earnings Release”), (ii) publicly disclosed any material nonpublic information, and (iii) engaged a broker-dealer for the program. No repurchases will be made before the Commencement Date, and the program will expire three months after it.

Repurchases are expected to be made from time to time through open-market purchases, which may include purchases under a trading plan intended to satisfy Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be made in accordance with Rule 10b-18 under the Exchange Act and other applicable legal requirements.

The timing, manner, price (subject to the $5.50 per share limit) and amount of any repurchases will be determined by the Company’s management based on its evaluation of market conditions, the trading price of the Company’s common stock, liquidity and capital requirements, legal requirements, and other factors. The program does not obligate the Company to repurchase any particular number of shares, and it may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund repurchases with its existing cash and cash equivalents.

About XMax Inc.

Headquartered in Commerce, California, XMax Inc. (NASDAQ: XMAX), formerly known as Nova LifeStyle, Inc., is a diversified company engaged in the design, sourcing, and distribution of contemporary furniture, as well as the development of artificial intelligence technologies and applications. The Company operates through an established global network of suppliers, distributors, and e-commerce channels, serving a broad customer base. The Company has expanded into artificial intelligence technologies, including AI software and platform-based services through its wholly owned subsidiaries XMax AI Inc. and Elonx AI Holdings PTE. LTD., to support future growth. By leveraging emerging technologies, the Company aims to drive diversification and long-term value creation.

Media Contact

Ellen Chen
Public Relations Manager
XMax Inc.
Email: pr@xmax.com

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SOURCE XMax Inc.