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Nova LifeStyle Subsidiary iDesign Technology Won Top Microsoft Award in Taiwan Contest

December 17, 2018

LOS ANGELES, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ: NVFY), a leading U.S.-based, innovative designer and distributor of modern LifeStyle home products, today announced that the Company’s subsidiary iDesign Technology (IDT) won a top prize for technology innovation at the Cloud-Chain International Dapp Development Contest held in Taiwan, which was sponsored by Microsoft, China Binary New Fintech and High Cloud.

The final competition took place on December 12, with more than fifty global corporate contestants competing openly with their product applications built on Microsoft’s successful Azure Blockchain Workbench platform. Nova’s iDesign team won the 3rd place award with IDT’s new generation Public Service System relying on its advanced Distributed Storage, Distributed Ledger and Hash Table, and Smart Contract Technologies.

Nova Lifestyle launched its iDesign Technology (IDT) subsidiary in 2018. IDT provides strong technical support for the company’s technological transformation and upgrade in order to enhance user experience. At the same time, IDT expects to leverage its leading technology ability by opening its Blockchain system to serve other enterprise customers looking to implement applications with emerging technologies quickly.

iDesign Technology Chief Technology Officer Jerry Zheng commented: “We are pleased to have worked with Microsoft’s leading Azure Blockchain Workbench system to build Nova’s enterprise applications. Nova actively embraces advanced science and technology and we expect IDT will play a significant role in enhancing the Company’s profitability and technology know-how.”

About Nova LifeStyleNova 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.

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

Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fbf2ada7-3a7f-4b87-a209-e86206291163

http://www.globenewswire.com/NewsRoom/AttachmentNg/c1d0ca43-943a-41b7-be90-8e0c8acf21c2

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