HONG
KONG, Feb. 27, 2023 /PRNewswire/
-- Intelligent Living Application Group Inc. (NASDAQ: ILAG)
("Intelligent Living" or the "Company"), a premium lockset
manufacturer in Hong Kong,
announced today plans to develop and launch home security devices
incorporated with blockchain technology, and that it has engaged a
Hong Kong-based systems
development company, China Star Technology Development Limited
("China Star"), to develop smart
home products and devices in order to enter and compete in the
smart home and IoT market. China
Star will undertake the technical product development work
and Intelligent Living will own all the rights for the new
products, devices, applications and related intellectual property
including the software used in the systems.
Mr. Bong Lau, Chairman and Chief
Executive Officer of Intelligent Living, commented, "We are
committed to introduce new and innovative products into the
marketplace and believe that smart home products complement our
capability in the design and production of affordable high-quality
locksets. As mentioned in our recently completed initial public
offering last July, we will invest in research and development for
smart locks, smart security and internet of things (IoT) products.
We are confident that our working with China Star will generate synergies that will
result in the development of advanced lockset products and smart
home security devices."
The Company foresees that the technical product development work
will entail encryption and communication security for home products
utilizing blockchain technology. In addition to smart locks, such
smart home security products could include audio / video (AV)
control systems, climate control technologies and closed-circuit
television (CCTV) surveillance cams.
China Star Technology Development Limited, based in Hong Kong, is a technology development company
that was a pioneer in remote Point of Sale (POS) and surveillance
systems covering more than 300 retail points in China. China
Star was also one of the pioneers in developing smart home
products in Hong Kong and has been
an active company in this sector since 2017.
About Intelligent Living Application Group Inc.
Intelligent Living Application Group Inc. ("ILAG") is a premium
lockset manufacturer in Hong Kong.
It manufactures and sells high quality mechanical locksets to
customers mainly in the United
States and Canada and has
continued to diversify and refine its product offerings in the past
40 years to meet its customers' needs. ILAG has obtained the
ISO9001 quality assurance certificate and various accredited
quality and safety certificates including American National
Standards Institute (ANSI) Grade 2 and Grade 3 standards that are
developed by the Builders Hardware Manufacturing Association (BHMA)
for ANSI. ILAG keeps investing in self-designed automated product
lines, new craftsmanship and developing new products including
smart locks. For more information, visit the Company's website at
http://www.i-l-a-g.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "is/are likely to," "potential,"
"continue" or other similar expressions. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and other filings with the SEC,
which are available for review at www.sec.gov.
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SOURCE Intelligent Living Application Group, Inc.