NANJING, China, March 16, 2023 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. (the “Company”) (Nasdaq: OST), a supplier of display modules, polarizers and display products based in China, today provided update on its latest sales plan for Pintura PinTab Series IX (“Pintura”), its first smart display and photo sharing product. Since the launch of Pintura in September 2022, the Company has been working to establish an overseas distributor network in the first quarter of this year. The Company also started research and development of Pintura’s second-generation product, the Pintura Series X (“Pintura X”) since the beginning of this year.

Pintura X has three lines of products, Pintab, Pinpin and PinSE, each catering to different customer needs. Pintab and Pinpin are designed for smart homeowners who seek a people-oriented, eco-friendly and intelligent new home experience. PinSE offers customized display solutions for enterprise customers. Like its predecessor, Pintura X enables wireless content transfer via a computer portal or mobile app, allowing users to share their lives and interact with various content easily. In addition, the 2K high-precision display of diverse art collections makes Pintura X suitable for the display of non-fungible token (NFT) arts.

Virtual art has recently entered the mainstream and is generating significant revenue for digital artists and online collectors. At the center of this explosion in transactions are NFT arts. Pintrua X helps collectors bring such digital arts into their homes, offices, or galleries and offers a variety of NFT arts display options. The Company is currently working on the industrial and structural design of Pintura X and plans to release the product in China and the global markets in the third quarter of 2023.

Mr. Ling Tao, CEO of the Company, said, "Since we introduced Pintura products in September 2022, our Pintura PinTab Series IX has received a lot of attention from industry peers and customers. We are excited to announce an upgrade cycle of Pintura products and aim to continue enhancing our product pipeline to drive growth in 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. In 2022, the Company expanded its business into the end-user market, offering display products of different sizes. The Company also is a provider of 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, 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 forecast on market trend; the Company's future business development; the Company’s plan to develop the overseas distribution channel for its Pintura products; the Company’s plan to develop and launch the second generation of its Pintura products; the demand for and market acceptance for new products; changes in technology; risks and uncertainties regarding lingering effects of the Covid-19 pandemic on the Company's businesses, including disruptions to the Company's supply chain; 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.

For more information, please contact:
Ostin Technology Group Co., Ltd.
ir@austinelec.com

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Publication Date：2023.03.16