UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 6565 E. Washington Blvd. Co ...

Sales Performance - For the year ended December 31, 2022, the largest selling product categories were sofas (41%), beds (15%), and chairs (11%) from continuing operations [41]. - In 2021, the largest selling product categories were sofas (47%), beds (15%), and coffee tables (7%) from continuing operations [41]. - In 2022, sales to North America accounted for 94.2% of total sales from continuing operations, down from 97.9% in 2021, while sales to other regions increased from 2.1% to 5.8% [46]. - The company’s revenues from Diamond Bar accounted for 99.5% of total sales from continuing operations in 2022, highlighting its reliance on this subsidiary [58]. Employee Information - As of December 31, 2022, the company had 28 full-time employees worldwide, with 24 in the U.S., 3 in Malaysia, and 1 in Hong Kong [26]. - The U.S. corporate office employed 24 full-time employees, while operations in Malaysia and Hong Kong employed 3 and 1 full-time employees, respectively [68]. - The company believes that relations with its employees are satisfactory [68]. - There are no collective bargaining agreements in place with employees [68]. COVID-19 Impact - The company experienced significant shipping delays and increased costs from Asia due to the COVID-19 pandemic, although shipping costs returned to normal by June 2022 [28]. - The ongoing COVID-19 pandemic has adversely affected revenue generation in 2022 due to government-imposed quarantines and supply chain disruptions [46]. - The company has implemented changes to ensure employee safety in response to the COVID-19 pandemic [26]. Product Development and Marketing - The company has developed over 230 products exclusively for international markets, showcasing its extensive product range [48]. - The company aims to introduce new products under the Diamond Sofa brand on a quarterly basis for the U.S. market, indicating a commitment to innovation [64]. - The company anticipates increasing internet sales under the Diamond Sofa brand through third-party shopping portals and its own website [58]. - The company has resumed participation in major trade shows since 2021, which were previously suspended due to COVID-19, to enhance brand visibility and product offerings [52]. Business Strategy - The company has established long-term relationships with worldwide customers by providing high-quality, large-scale, and cost-effective sourcing solutions [24]. - The company’s products are marketed through wholesale and retail channels as well as various online platforms worldwide [21]. - The company has been actively integrating new sources of distribution and manufacturing aligned with its growth strategies [23]. - The company plans to expand direct sales and marketing efforts in North America, particularly in the U.S., which is the largest market for imported furniture [50]. Financial Information - The company invested $10,917 in research and development in 2022, a decrease from $110,287 in 2021, indicating a potential shift in R&D focus [65]. - The company’s functional currency is the U.S. Dollar (USD) [20]. - The company has faced uncertainties in market growth projections due to rapidly changing customer industries [16].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 6565 E. Washington Blvd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 6565 E. Washington Blvd. Com ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) Nevada 90-0746568 (323) 888-9999 (Registrant's telephone number, including area code) Secu ...

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________to_______________ Commission file number: 333-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) Nevada 90-0746568 (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) Nevada 90-0746568 (State or other jurisdiction of incorporation or organization) (IRS ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) Nevada 90-0746568 (State or other jurisdiction of incorporation or organization) 6565 E. Wa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Nevada 90-0746568 (IRS Empl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 333-36259 NOVA LIFESTYLE, INC. (Exact name of registrant as specified in its charter) Nevada 90-0746568 (State or other jurisdiction of ...