Nova Lifestyle SEC Filings

XMax Inc. reported a board leadership change. On November 18, 2025, the Board received a resignation letter from Ms. Thanh H. Lam, who stepped down as Chairperson of the Board effective immediately. The company states that Ms. Lam’s resignation is not due to any disagreement with the company, its management, or its other directors. Ms. Lam will continue to serve as Chief Executive Officer of Diamond Bar Outdoors Inc., a wholly owned subsidiary of XMax Inc., so she remains involved in the broader business through that role.

Nova LifeStyle, Inc. reported shareholder approval to amend its Articles of Incorporation, increasing authorized common stock from 250,000,000 shares to 5,000,000,000 shares. The amendment, approved by the Board on September 15, 2025 and by shareholders on October 31, 2025, became effective upon filing on November 3, 2025. The company also changed its corporate name to XMax Inc., effective immediately upon filing, and amended and restated its bylaws to reflect the new name.

At the special meeting, the share increase passed with 26,751,736 votes for, 196,649 against, and 2 abstentions. The name change passed with 26,927,223 for, 19,702 against, and 1,462 abstentions. A proposal granting discretionary authority to adjourn the meeting, if needed, also passed. The company’s common stock is listed on Nasdaq under the symbol NVFY.

Nova LifeStyle (NVFY) reported a new investment agreement. On October 15, 2025, its indirectly wholly owned subsidiary, Xmax Alpha Holdings Ltd., entered into and completed a Subscription Agreement to purchase a 99.82% interest in Preamble Capital I, A Series of CGF2021 LLC for $5,605,000. The applicable management fee percentage for the Company is 0%.

On October 16, 2025, that fund subscribed $5,600,000 into another fund that will use the proceeds to purchase common stock of Space Exploration Technologies Corp. (SpaceX). This establishes an indirect exposure to SpaceX through layered fund interests. Sydecar LLC serves as the fund administrator.

Nova LifeStyle (NVFY) expanded its Board of Directors from six to seven members and appointed Yizhou (Steven) Zhao to the Board, effective October 10, 2025. Zhao currently serves as the Company’s Chief Operating Officer and Corporate Secretary, roles he assumed on October 7, 2025. He also works as a Data Analysis Statistician at Diamond Bar Outdoors Inc., a wholly owned subsidiary, since June 2025.

The appointment fills the vacancy created by the Board’s size increase. The Company states Zhao was not selected pursuant to any arrangement or understanding with any person, has no family relationships with directors or executive officers, and is not a party to transactions requiring disclosure under Item 404(a). Zhao holds a B.S. in Statistics (minor in Economics) from Queen’s University and an M.A. in Statistics from Columbia University.

Nova LifeStyle, Inc. entered into a Securities Purchase Agreement for a registered direct offering of 3,708,500 shares of common stock at $3.78 per share, delivering aggregate gross proceeds of $14,018,130 before expenses.

The shares will be issued off the company’s effective Form S-3 shelf registration statement (File No. 333-274970). This transaction provides primary capital to the company through a direct sale to identified purchasers under the agreement.

Nova LifeStyle, Inc. is offering 3,708,500 shares of common stock at $3.78 per share, for $14,018,130 in gross proceeds, under a prospectus supplement pursuant to a securities purchase agreement. The shares are expected to be delivered on or about October 15, 2025, subject to certain conditions.

Net proceeds are estimated at about $14 million after offering expenses and will be used for working capital and general corporate purposes. Shares outstanding were 37,572,522 before the offering and are expected to be 41,281,052 after. The company reports pro forma net tangible book value of $1.18 per share after the offering, implying $2.60 per-share dilution for new investors at the offering price. The offering is a direct sale by the company with no underwriter, and estimated offering expenses are approximately $20,000.

Nova LifeStyle, Inc. filed an 8-K reporting that the company entered into an employment agreement with Yizhou (Steven) Zhao dated October 7, 2025. The filing identifies the agreement as Exhibit 10.1 and is signed on the company’s behalf by Xiaohua Lu, Chief Executive Officer. The document lists the company’s common stock on Nasdaq under the symbol NVFY.

The filing provides the existence and date of the employment agreement but does not disclose any material economic terms, specific duties, term length, compensation, equity awards, or termination provisions in the text provided. Because those contract details are not included here, investors cannot assess the financial impact or governance implications from this filing alone.

Nova Lifestyle, Inc. (NVFY) provided a proxy excerpt showing beneficial ownership for directors and executive officers and a board recommendation on a proposed amendment. The filing lists individual holdings including Min Su: 18,900 shares, Charlie Huy La: 485 shares, and Steven Qiang Liu: 400,614 shares (reported as 1.17%). Collectively, the eight directors and executive officers hold 431,856 shares, equal to 1.26% of outstanding shares. The board, through the signatory Xiaohua Lu (Chief Executive Officer and Director), has unanimously recommended that stockholders vote “FOR” the proposed Share Increase Amendment to the company’s Articles of Incorporation.