XMax Inc. board chair resigns; remains CEO of key subsidiary

XMax Inc. reported a board leadership change.

Rhea-AI Filing Summary

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.

Insights

Corporate governance analyst

XMax reports its board chair resigned, remaining CEO of a subsidiary.

XMax Inc. disclosed that Ms. Thanh H. Lam resigned as Chairperson of the Board effective November 18, 2025. The company notes that she indicated her resignation was not the result of any disagreement with the company, its management, or its other directors, which suggests an orderly governance transition rather than a contested departure.

Ms. Lam remains Chief Executive Officer of Diamond Bar Outdoors Inc., a wholly owned subsidiary, so she continues to hold an operating leadership role within the broader corporate structure. The filing does not describe who will succeed her as chair or any changes to strategic direction, leaving the long‑term implications of this leadership change to future disclosures.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What board change did XMax Inc. (NVFY) announce in this 8-K?

XMax Inc. reported that Ms. Thanh H. Lam resigned from her position as Chairperson of the Board, effective immediately as of November 18, 2025.

Did Ms. Thanh H. Lam leave XMax Inc. entirely?

No. While she resigned as Chairperson of the Board, Ms. Thanh H. Lam remains the Chief Executive Officer of Diamond Bar Outdoors Inc., a wholly owned subsidiary of XMax Inc.

Why did the XMax Inc. board chair resign according to the filing?

The filing states that Ms. Lam indicated her resignation as Chairperson of the Board was not because of any disagreement with the company, its management, or its other directors.

Does the XMax Inc. 8-K mention any financial impact from the chair’s resignation?

The disclosure focuses on the change in Ms. Lam’s board role and her continued service as CEO of Diamond Bar Outdoors Inc., and does not discuss financial metrics in connection with this change.

Who signed the XMax Inc. 8-K reporting the board chair’s resignation?

The report was signed on behalf of XMax Inc. by Xiaohua Lu, who is identified as the company’s Chief Executive Officer.

What stock exchange lists XMax Inc. common stock and under what symbol?

XMax Inc.’s common stock, with a par value of $0.001 per share, is listed on the Nasdaq Stock Market under the trading symbol XWIN.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/19/2025 - 04:30 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 18, 2025

XMax Inc.

(Exact name of registrant as specified in its charter)

Nevada		001-36259		90-0746568
(State or Other Jurisdiction		(Commission		(I.R.S. Employer
of Incorporation)		File Number)		Identification No.)

6565 E. Washington Blvd., Commerce, CA 90040

(Address of Principal Executive Office) (Zip Code)

(323) 888-9999

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		XWIN		Nasdaq Stock Market

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 18, 2025, the Board of Directors (the “Board”) of XMax Inc. (the “Company”) received a resignation letter from Ms. Thanh H. Lam to resign from her position as the Chairperson of the Board, effective immediately. Ms. Lam will remain as the Chief Executive Officer of the Diamond Bar Outdoors Inc., a wholly owned subsidiary of the Company. Ms. Lam indicated that her resignation is not because of any disagreement with the Company, its management or its other directors.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	XMax Inc.
	By:	/s/ Xiaohua Lu
		Xiaohua Lu
		Chief Executive Officer
Date: November 19, 2025