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CST: 20/02/2020 00:18:42   

Nova LifeStyle Expands Blockchain Technology Applications Through Appointment of Mr. Wilson Yiu as Chief Technology Officer

407 Days ago

LOS ANGELES, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ: NVFY) (“Nova LifeStyle” or the “Company”), a leading U.S.-based, innovative designer and distributor of modern LifeStyle home products, today announced the appointment of a key technology executive, Mr. Wilson Yiu, to lead the expansion efforts of the Company’s Blockchain technology platform.  The Company is seeking to incorporate blockchain technology into its product supply chain.

Mr. Yiu has twenty years of experience in Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) projects in consulting, management, implementations, application development and e-commerce. Mr. Yiu was a senior IT manager at Green Wave Ingredients, one of America’s leading distributors and suppliers of nutritional and proprietary branded ingredients. His career started as a software programmer at Paramount Pictures. Mr. Wilson Yiu possesses technical expertise enter along with business process re-engineering experience.  He holds dual Bachelor’s degrees in Information Systems and Finance from the University of Southern California. Mr. Yiu will serve as the Chief Technology Officer of the Company.

Nova LifeStyle CEO Tawny Lam commented, “In December 2017, we announced the formation of a new entity - iDesign Blockchain Technology Inc – with a goal of creating an integrated community of product designers, users, interior decorators, customers and suppliers built on Blockchain technology.  Our product catalogue emphasizes the ‘modern’ lifestyle which appeals to younger, technology-centric clientele.  Those same individuals are most interested in new technologies such as Blockchain and we are very excited to have Wilson join us to advance our efforts as we look to develop new and innovative ways to engaging with our customers.”

Ms. Lam continued, “Following our strong second quarter financial results, Nova continues to expand through innovative marketing channels. We anticipate significant growth and earnings opportunities by adopting Blockchain applications that fully integrate the Company’s existing and expanding ecosystem of customers, sales channels and designers.”

About Nova LifeStyle
Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia that include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs appeals to middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. Visit Nova LifeStyle’s website at www.NovaLifeStyle.com.

Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.

Company Contact:
Investor Relations:
The Equity Group Inc.
In U.S.
Adam Prior, Senior Vice President
+1 (212) 836-9606

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