NANJING, China, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. (the "Company") (Nasdaq: OST), a supplier of display modules and polarizers in China, recently launched its first smart display and photo sharing product Pintura PinTab Series IX (“Pintura”).

Pintura is a product based on artificial intelligence of things (AIoT) technologies, and is proprietarily designed and developed by the Company since July 2021. Each Pintura product comprises multiple display terminals and one wireless power supply board and is controlled through a mobile application (the “mobile APP”). Through computer portal or the mobile APP control, Pintura enables wireless content transmission. The display terminals can be moved and rotated to composite different display arrangements. As a result, Pintura can be used for home wall decoration, community event wall display, advertisement, event planning, corporate culture wall display and other scenarios. The Company believes Pintura can save more space, display more contents, and avoid cons of traditional display products including easily aging, not environmentally friendly and hard to replace content, shape and style. It also has a longer service life compared to traditional display products, featuring one-click photo upload function and a 360° presentation that works to improve interactivity, design and overall utility of the product.

Mr. Ling Tao, CEO of the Company, said, "We are very pleased to announce the launch of Pintura’s first generation product Pintura PinTab Series IX. Pintura is the Company’s attempt in the research and development (R&D) of an interactive internet-based product, using new display concept to increase the small size displays’ functions and create new social tools enabling display, communication, and transmission of interactive contents such as messages and pictures for active social activities. Pintura can be widely used by individuals, merchants, display design solution providers, community organizations, factories and other retail customers. With our strong R&D capability, we have responded quickly to the market demand for small display/photo sharing products within a relatively short time and marked our step in interactive internet-based products. We are in touch with some potential customers through initial market studies, and expect to receive orders from them. We plan to market and sell Pintura products in China in the fourth quarter of 2022, and in the US market in the first quarter of 2023.”

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.

For more information, please visit http://www.austinelec.com/.

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, and 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 future business development; the demand for smart display and market acceptance for Pintura; expectation to receive customer orders for Pintura, the anticipated timing for the marketing and sales of Pintura; changes in technology; risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our businesses, including disruptions to our supply chain; our ability to attract and retain skilled professionals; client concentration; and general economic conditions affecting our 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.

ir@austinelec.com