This breakthrough technology is twice as fast as existing automated systems, with a 10-fold efficiency improvement, achieving unparalleled efficiency and cost savings.

Los Angeles, October 3, 2024 / PRNewswire / - Ispire Technology Inc. ("Ispire Technology" or "the Company") (NASDAQ: ISPR), a leader in the development and commercialization of atomization technology and precise dosing, announced today the launch of its innovative 'I-80' atomization equipment filling machine, set to revolutionize the atomization industry. The I-80 equipment will make its debut at the Benzinga Capital Conference in Chicago on October 8-9, showcasing its capability to produce 4,000 fully filled and sealed atomization devices per hour, potentially redefining production efficiency.

The I-80 atomization equipment filling machine sets a new standard for production capacity and efficiency for atomization operators:

• Unprecedented speed: filling and sealing 4,000 0.5 milliliter atomization devices per hour.
• Efficiency improvement: 10 times faster than traditional manual methods, 2 times faster than existing automated sys.
• High cost-effectiveness: $1,000 saved for every 10,000 devices produced.
• No need for sealing: Wuma Technology's self-sealing equipment does not require separate sealing, overall workflow efficiency is increased by 1,000% compared to manual methods, 100% compared to other automated systems.

"The I-80 is not just a machine; it is a disruptive solution to the capacity challenges of atomization operators over the years," said Michael Wang, Co-CEO of Wuma Technology. "We are not only increasing productivity—we are leading a paradigm shift in production efficiency. This innovation aligns with our mission to drive technological advancement for the benefit of customers and the consumers they serve."

Redefining the production pattern

When used in conjunction with Foggy Technology's self-sealing equipment, I-80 can significantly improve operational efficiency:

• No need for separate sealing
• Compared to manual methods, the efficiency improvement is about 1,000%
• Compared to other automated systems, the efficiency has increased by about 100%.

The launch of I-80 will attract attention from multi-state operators (MSO), single-state operators (SSO), and investors. For industry leaders seeking a competitive advantage, the ability to reduce costs and increase productivity is essential.

Welcome to experience the groundbreaking features of I-80 in person at the Benzinga Capital Conference held at the Marriott International on Magnificent Mile in Chicago, Illinois from October 8th to 9th. To arrange for a live demo and learn how I-80 can transform your business, please contact Dennis Lider, Senior Vice President of Business at Wuma Technology, via email: dennis.lider@getispire.com.

About Ispire Technology Inc.

Wuma Technology is engaged in the research and development, design, commercialization, sales, marketing, and distribution of brand-related atomization products. The company owns or has obtained licenses for more than 200 patents/inventions/designs globally from affiliated parties. Wuma Technology's products are sold under the Aspire brand, primarily distributed globally through its network (excluding the United States, China, and Russia). Wuma Technology currently sells its related atomization hardware only in the United States and has recently undertaken marketing activities in Canada and Europe (mainly the European Union). Please visit our website and follow us on Facebook, Twitter, Instagram, Linkedin, and YouTube.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are intended to be protected by the safe harbor provisions created by such provisions. Forward-looking statements are based on certain assumptions and describe the company's future plans, strategies, and expectations, and are often identified by using words such as "believe," "expect," "may," "will," "should," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "possible," and other forward-looking terms, although not all forward-looking statements contain these identifying words. All statements other than historical facts, including statements about the company's strategies, prospects, financial condition, operations, costs, plans, and objectives, are forward-looking statements. Important factors that could cause the company's actual results to differ materially from those indicated in the forward-looking statements include but are not limited to the following risks and uncertainties: whether the company can successfully re-enter the U.S. transmission system market; whether the PMTA application submitted by the company will be approved or denied; whether the joint venture with Touch Point Worldwide Inc. and Chemular Inc. (the "Joint Ventures") can successfully achieve its expected goals; the joint venture's innovative capabilities in the field of atomization technology or its ability to develop age verification technology for atomization devices; the company's ability to collect receivables in a timely manner; the company's business strategy; the company's ability to market Ispire ONE; whether Ispire ONE can successfully achieve its goals; whether customers can obtain the expected benefits from Ispire ONE and the success of its products in the market; the safety verification of Ispire ONE; and the risks and uncertainties described in the company's annual report on Form 10-K for the year ended June 30, 2023, in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Operating Results," and "Cautionary Note Regarding Forward-Looking Statements" sections, as well as in other documents filed by the company with the U.S. Securities and Exchange Commission. You should not rely solely on forward-looking statements as predictions of future events. The forward-looking statements in this press release relate only to events or information as of the date of the press release. We have no obligation to update or revise any forward-looking statements after the date of the press release, whether due to new information, future events, or other circumstances, or to reflect unforeseen events, unless required by law. You should understand that our actual future results may be very different from what we have anticipated, so you should read this press release in conjunction with all other available information.

Contact information

Investor Relations:
Sherry Zheng
718.213.7386
ir@ispiretechnology.com

KCSA Global Strategy Communications
Phil Carlson
212.896.1233
ispire@kcsa.com

Media Relations:
Ellen Mellody
570.209.2947
EMellody@kcsa.com