Ostin Technology Group Secures Orders for Metro Projects in Beijing, Tianjin, and Nanjing of China

Nanjing, China, July 17, 2023 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. (the "Company") (Nasdaq: OST), a supplier of display modules and polarizers in China, today announced that it has secured orders to purchase platform door displays, metro Passenger Information System (“PIS”) screens, and metro platform monitors, which are expected to be used for metro projects in Beijing, Tianjin, and Nanjing of China.

According to the orders, the Company will supply 500 units of 28-inch bar-shaped platform door displays, 406 units of 43-inch and 50-inch PIS screens, and 20-inch metro platform monitors, which are expected to be used for the newly constructed Beijing Subway Line 12, the new Tianjin Rail Transit Line 11 and certain Nanjing Metro stations, respectively. These products are designed to offer metro passengers with convenient commuting experience while accommodating security needs for the Company’s customers.

The Company utilizes customized liquid crystal (“LC”) and unique LC drivers in its manufacturing of commercial LCD display modules, which provides advantages in long-term durability. These commercial LCD display modules are designed to meet the increasing demands from the rail transit industry, and to ensure reliability on prolonged operation and vehicle vibrations. The Company's metro platform display products also provide modular design and network operation features with extensive content publishing capabilities.

Mr. Tao Ling, Chairman and CEO of the Company commented: “We are honored to supply the Company’s metro platform display products to metro projects in Beijing, Tianjin, and Nanjing of China. Our display modules are specifically tailored to provide high performance, to improve the commuters’ experience and to contribute to the efficiency and safety of the metro systems.”

"Our expertise in display modules has made us a reliable partner for these metro projects. We commit to provide high-quality and long-term display solutions meeting the need of each city’s metro projects. We will continue to expand our presence and deliver innovative display solutions in key transportation hubs in China.”

About Ostin Technology Group Co., Ltd.

Founded in 2010, the Company is a supplier of display modules and polarizers in China. The Company designs, develops, and manufactures TFT-LCD display modules in a wide range of sizes and customized sizes which are mainly used in consumer electronics, outdoor LCD displays, and automotive displays. The Company also manufactures polarizers used in the TFT-LCD display modules. The Company also provides research and development services to branded original design manufacturers.
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Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's forecast on market trends; the Company's future business development; the demand for and market acceptance for new products; changes in technology;; the Company's ability to attract and retain skilled professionals; client concentration; and general economic conditions affecting the Company's industry and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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Ostin Technology Group Co., Ltd.

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