LOS ANGELES, Sept. 17, 2026 (GLOBE NEWSWIRE) -- XMax Inc. (NASDAQ: XMAX) (“XMax” or the “Company”) today announced continued commercial progress in its artificial intelligence (“AI”) business through its wholly owned subsidiary XMax AI Inc. (“XMax AI”) and expansion into industry-specific AI applications . XMax AI recently entered into a Letter of Cooperation with apM Group, a Seoul-based K-fashion wholesale ecosystem operating company that owns apM, apM Luxe and apM PLACE, to explore the development and commercialization of AI infrastructure and industry-specific AI models for the Korean and global markets.

The parties intend to combine XMax AI’s AI infrastructure and model deployment capabilities with apM Group’s fashion industry expertise, datasets and commercial ecosystem to explore the development of K-Fashion and Apparel large language and multimodal AI models. Potential applications include design, merchandising, styling, retail, supply-chain management and marketing.

The parties also intend to explore establishing a Korea-based AI joint venture to support AI infrastructure operations, industry-specific model development and commercialization, and the deployment of AI applications in Korea and broader global markets.

“The apM Group is a leading company of the Korean wholesale fashion industry and one of the largest B2B fashion wholesale market networks in Korea. The cooperation with apM Group represents a step toward extending XMax AI’s capabilities beyond general-purpose model API services into vertical AI solutions that combine AI infrastructure, industry-specific data and real-world commercial applications,” said Andy Lu, Chief Executive Officer of XMax Inc.

The Letter of Cooperation primarily represents the parties’ strategic intent and is non-binding, except for certain provisions specified therein. Specific arrangements relating to infrastructure deployment, model access, data governance, commercialization and joint-venture governance are expected to be addressed through separate definitive agreements.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding anticipated customer demand, future commercial opportunities, expected growth of the Company's AI business, expansion of GPU services, strategic partnerships, and future financial performance. These statements are based on current expectations, assumptions and analyses made by us in light of our experience and our perception of trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances, and are subject to risks and uncertainties that may cause actual results to differ materially. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory,” “focus,” “work to,” “attempt,” “pursue,” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. XMAX Inc. undertakes no obligation to update any forward-looking statements except as required by law.

About XMax Inc.

Headquartered in Commerce, California, XMax Inc. (NASDAQ: XMAX) 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. In addition, the Company has expanded into artificial intelligence technologies, including AI software and platform-based services through its wholly owned subsidiary XMax AI Inc., to support future growth. By leveraging both its core operations and emerging technologies, the Company aims to drive diversification and long-term value creation.

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