XMax Inc.

Listed Company

XMAXCIK 0001473334NasdaqNon-AcceleratedSmaller ReportingHousehold FurnitureNevadaFY ends Dec 31

Period

FY 2025

Revenue

$16.72M

Net Income

$-3.42M

Total Assets

$35.55M

Equity

$27.96M

Shares Out

47.21M

Op. Cash Flow

$-445.8K

Business

XMax Inc. designs and markets contemporary residential and commercial furniture under multiple brands. Its main products include upholstered and wood/metal furniture—sofas, beds, chairs, dining tables, coffee tables, entertainment consoles, cabinets and coordinated multi-component room collections. The company operates through branded divisions and subsidiaries (including Nova LifeStyle, Diamond Sofa and Nova Living) as a branding and marketing firm that sources third‑party manufacturers, provides quality control, and acts as an OEM designer and supplier. Its products are sold principally in North America and distributed through wholesalers, retailers, showrooms, trade shows and online channels globally.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Sales	17	10	11	13	13
Cost of Sales	13	5	7	21	7
Gross Profit	4	4	4	−8	6
Selling expenses	1	2	2	3	4
General and administrative expenses	5	6	5	6	6
Research and development	—	2	3	10,917	—
Total Operating Expenses	6	10	11	8	9
Loss From Operations	−2	−5	−6	−16	−4
Non-operating (expense) income	−2	4,496	19,979	550	116,090
Loss on impairment of goodwill	−218,606	—	—	—	—
Plant, property and equipment written off	−192,726	—	—	—	—
Unrealized gain	296,420	—	—	—	—
Foreign exchange transaction income (loss)	−30,075	13,281	−417,690	−639,432	98,075
Interest expense, net	−77,135	−31,244	−9,495	−25,216	−123,144
Financial expense	−186,146	−182,269	−166,411	−187,068	−207,274
Total Other Expenses, Net	−2	−195,736	−573,617	−851,166	−200,675
Loss Before Income Taxes	−4	−6	−7	−17	−4
Income Tax Benefit (Expense)	580,987	−2,614	−731,092	−2,400	−163,893
Net Loss	−3	−6	−8	−17	−20
Foreign currency translation	−17,899	721	444,183	−304,608	−416,440
Net Loss and Comprehensive Loss	−3	−6	−7	−17	−20
Weighted average shares outstanding - Basic	21	4	2	1	6
Weighted average shares outstanding - Diluted	21	4	2	1	—
Diluted	−0.17	−1.48	−4.96	−12.34	—
Basic	−0.17	−1.48	−4.96	−12.34	−3.27

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	7	161,902	—	369,137	1
Accounts receivable, net	2	36,371	—	46,998	288,478
Advance to suppliers	313,924	5	—	93,740	21,173
Inventories	2	3	5	2	5
Prepaid expenses	144,274	202,294	—	984,934	2
Other receivables	7,478	17,415	—	41,265	79,175
Total Current Assets	12	8	—	4	8
Plant, property and equipment, net	21,942	252,186	—	287,673	368,624
Right-of-use assets, net	594,801	1	—	2	3
Intangible assets, net	—	3,109	—	8,473	13,837
Investment in fund	23	—	—	—	—
Lease deposit	43,260	52,523	—	69,992	71,146
Goodwill	—	218,606	—	218,606	218,606
Total Noncurrent Assets	24	2	—	2	3
Total Assets	36	10	—	6	12
Accounts payable	327,134	728,546	—	430,045	321,261
Operating lease liabilities, current	591,350	716,602	—	701,985	736,428
Finance lease liabilities - current	20,574	32,585	—	—	—
Contract liabilities	58,786	413,583	—	—	—
Loan from shareholders	398,014	385,147	—	—	—
Accrued liabilities and other payables	943,312	2	—	1	413,599
Other loan	3,572	13,424	—	—	—
Security deposit	50,000	—	—	—	—
Income tax payable	—	2	—	1	629
Total Current Liabilities	2	6	—	4	2
Other loan	137,117	197,828	—	—	—
Operating lease liabilities, non-current	—	730,291	—	1	2
Finance lease liabilities - non-current	19,876	40,451	—	—	—
Convertible notes	5	—	—	—	—
Total Noncurrent Liabilities	5	968,570	—	2	3
Total Liabilities	8	7	—	6	5
Contingencies and Commitments	—	—	—	—	—
Common stock, $0.001 par value; 5,000,000,000 shares authorized, 41,885,728 and 7,301,206 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	41,886	7,301	—	1,918	1,440
Additional paid-in capital	81	53	—	44	43
Accumulated other comprehensive income	504,247	522,146	—	521,425	77,242
Accumulated deficits	−53	−50	—	−44	−37
Total Stockholders Equity	28	3	—	496,354	7
Total Liabilities and Stockholders Equity	36	10	—	6	12

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	9,912	60,853	55,446	88,285	—
Plant, property and equipment written off	192,726	—	—	—	—
Amortization of operating lease right-of-use assets	872,829	449,349	748,344	483,563	767,869
Write down of inventories	6,042	56,583	140,131	13	—
Stock based compensation expense to employees	4,410	11,145	—	—	—
Stock based compensation expense to non-employees	3	746,547	499,631	573,923	130,089
Research and development	—	2	675,000	—	—
Reversal of allowance credit loss	−109	−165	−2,382	1,870	−4,157
Accounts receivable	−2	10,792	243,862	−186,951	415,699
Advance to suppliers	4	54,592	−72,567	686,091	—
Inventories	654,874	−667,626	3	−879,527	−803,012
Prepaid expenses	51,845	885,171	468,223	—	—
Other current assets	69,608	23,850	506,133	−1	−179,895
Operating lease liabilities	−836,403	−521,844	−735,151	—	—
Financing lease liabilities	16,016	73,036	—	—	—
Accounts payable	−401,412	298,501	108,784	−37,101	−385,423
Contract liabilities	−364,161	101,793	—	—	—
Accrued liabilities and other payables	−690,197	585,722	672,715	35,305	128,976
Taxes payable	−2	39,627	640,160	−86,229	112,581
Net Cash Used in Operating Activities	−445,838	−1	−2	−5	−5
Purchase of property, plant, and equipment	—	−14,121	—	−8,772	−110,519
Investment in fund of Preamble Capital LLC	−23	—	—	—	—
Net Cash Used in Investing Activities	−23	−14,121	18,643	−8,772	−154,820
Proceeds from an unrelated party	—	65,578	—	—	—
Repayment to loan from an unrelated party	−70,079	—	—	—	—
Repayment to director	−6,504	—	—	—	—
Repayment to SBA loan	−3,441	—	—	—	—
Principal payment of finance lease liabilities	−32,585	—	—	—	—
Interest paid on finance lease liabilities	−2,910	—	—	—	—
Proceeds from loan from a shareholder	200,000	360,000	—	—	—
Proceeds from convertible note	5	—	—	—	—
Proceeds from issuing common stocks	25	750,000	—	—	3
Net Cash Provided by Financing Activities	30	1	—	—	3
Effect of Exchange Rate Changes on Cash and Cash Equivalents	48,132	23,087	556,574	474,483	−292,478
Net Increase (Decrease) in Cash and Cash Equivalents	7	−207,235	−1	−5	−2
Income tax payments	1	5,854	90,931	248,720	59,107
Interest expense	68,906	32,477	6,176	5,697	11,809
Obtained new right of use of autos	—	69,700	—	—	—

Filings

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