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Here are 1-3 brief analogies for XMax (Xometry):

• Uber for manufacturing
• Upwork for custom parts
• Airbnb for factory capacity

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• XMax Premium Streaming Service: This service offers exclusive high-definition content, including movies, TV shows, and original productions, with advanced features like spatial audio and early access.
• XWIN Gaming Platform: This platform provides a comprehensive online gaming ecosystem, featuring competitive esports tournaments, a vast library of games, and social networking tools for gamers.
• XMax Smart Devices: This product line includes high-performance consumer electronics, such as smart TVs, sound systems, and virtual reality headsets, designed for immersive entertainment.
• XWIN Digital Achievement Network: This social platform allows users to track personal and professional goals, connect with mentors, and earn digital rewards for reaching milestones.

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I am unable to identify the major customers for a public company named XMax (symbol: XWIN) because this company does not appear to be a real, publicly traded entity in my knowledge base or real-world financial data. Public companies typically have their information, including stock symbols, listed on major exchanges and financial data providers.

If XMax (XWIN) were a real public company, the process to identify its major customers would involve:

• Reviewing its annual reports (Form 10-K) filed with regulatory bodies like the SEC (U.S.). These documents often disclose information about significant customers, revenue concentration risks, or detailed descriptions of their market and customer base in sections such as "Business," "Risk Factors," or "Management's Discussion and Analysis of Financial Condition and Results of Operations."
• Consulting investor presentations, earnings call transcripts, and press releases, which sometimes highlight key partnerships or market segments.
• Analyzing industry reports and financial news specific to the company or its sector.

Without information on a real company, I cannot provide a factual list of its customers or customer categories.

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Xiaohua Lu, Chief Executive Officer, President & Director

Xiaohua Lu serves as the Chief Executive Officer, President, and a Director of XMax Inc.. He assumed the role of CEO and President on April 21, 2025, and joined the board as a Director on June 23, 2025. Prior to his current position, Mr. Lu held the role of General Manager at the company.

Jeffery Chuang, Chief Financial Officer & Principal Accounting Officer

Jeffery Chuang is the Chief Financial Officer and Principal Accounting Officer of XMax Inc.. He has held the position of Chief Financial Officer for XMax Inc. since August 2017.

Yizhou Zhao, Chief Operating Officer, Corporate Secretary & Director

Yizhou Zhao is the Chief Operating Officer, Corporate Secretary, and a Director at XMax Inc..

Mark Chapman, Vice President of Marketing

Mark Chapman serves as the Vice President of Marketing for XMax Inc..

Steven Qiang Liu, Vice President

Steven Qiang Liu holds the title of Vice President at XMax Inc..

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The key risks to XMax (symbol: XWIN) primarily revolve around its ongoing financial performance and the inherent execution challenges associated with its recent strategic shift into the artificial intelligence (AI) sector.

1. Persistent Net Losses and Profitability Concerns: XMax has consistently reported net losses, indicating a struggle to achieve sustained profitability. For the three months ended September 30, 2025, the company reported a net loss of $1.13 million, and for the nine months ended the same date, a net loss of $1.76 million. While net sales showed significant growth in Q3 2025, an AI analyst noted "significant financial challenges, with declining revenues and a weak balance sheet being major concerns" for XWIN. The company's fundamental rating is low, largely due to poor profitability.
2. Execution Risk in Strategic AI Investment: XMax, historically known as a distributor of residential and commercial furniture, has recently made substantial investments in the AI sector through its subsidiary, Xmax Beta Holdings Ltd.. This includes acquiring a significant interest in Preamble X Capital I, which holds interests in X.AI Corp.. This strategic pivot into a highly competitive and specialized industry like AI presents significant execution risks, including the challenges of integrating new technologies, developing relevant expertise, and successfully competing against established players, all while managing its core furniture business.

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XMax (symbol: XWIN) operates in the home furniture industry, specializing in modern home furniture, including living room, urban dining, bedroom, and Nova Qwik products under the Nova and Diamond Sofa brand names. The company is headquartered in Commerce, California, indicating a primary focus on the U.S. market.

The addressable market for XMax's main products in the U.S. is the U.S. home furniture market.

• The U.S. home furniture market size is estimated at approximately USD 125.81 billion in 2025, with a forecast to reach USD 151.73 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 3.82% over the forecast period.
• Another estimate values the U.S. household furniture market at USD 91.1 billion in 2024, projected to increase to USD 118.6 billion by 2032, advancing at a CAGR of 3.5% during 2025–2032.

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XMax (symbol: XWIN) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Increased Sales Volume and Customer Growth: The company has demonstrated significant growth in net sales, with a 273% year-over-year increase in Q3 2025 and a 95% increase for the nine months ending September 30, 2025. This indicates a current trend of selling more products and expanding its customer base.
2. Strategic Investments and Exploration of New Opportunities: XMax recently completed a $9.0 million public offering, which the CEO stated demonstrates a commitment to "exploring new opportunities and delivering long-term shareholder value." This capital infusion and strategic focus are expected to fuel future revenue-generating initiatives, potentially including market expansion, new product development, or acquisitions.
3. Expansion of Global Distribution Network: As a distributor of residential and commercial furniture, XMax utilizes a "global network of retailers, e-commerce platforms, and hospitality providers." Further leveraging and expanding this network, both geographically and across different sales channels, is a key driver for reaching more customers worldwide.
4. Product Innovation and Trend-Responsive Design: XMax actively "monitors popular trends and products to create design elements integrated into product lines for both stand-alone and whole-room furnishing solutions." This continuous effort in product development and adapting to consumer trends is anticipated to drive demand for new and updated furniture offerings.

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Capital Allocation Decisions for XMax (XWIN)

Share Issuance

• In September 2025, XMax Inc. completed a public offering of common stock and warrants, resulting in gross proceeds of approximately $9.0 million.

Inbound Investments

• XMax Inc. received approximately $9.0 million in gross proceeds from a public offering of common stock and warrants which closed in September 2025.

Capital Expenditures

• XMax (XWIN) reported capital expenditures of $0.01 million in 2024, $0.01 million in 2023, $0.15 million in 2022, and $0.37 million in 2021.
• The company intends to use a portion of the net proceeds from its September 2025 public offering for future capital expenditures.