Ostin Technology Group Co. Secured New Purchase Orders of Treadmill Screen Products; Officially Opens Douyin Store with Latest Smartwatch Products Now Available for Purchase

Nanjing, China, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. (the "Company") (Nasdaq: OST), a supplier of display modules and polarizers in China, today announced it has secured new purchase orders of nearly 5,000 “21.5-inch module” treadmill screen products from a leading fitness equipment manufacturer in China. The Company also unveiled the grand opening of its flagship Douyin store. This exciting launch unveils the M4 and GT8-PRO smartwatches, now available for purchase online.

Recognizing the extraordinary influence and widespread appeal of Chinese short-video platforms, the Company is harnessing the power of live streaming, dedicated fan communities, and compelling social media advertising to amplify sales. In addition to Douyin, the Company expects to captivate audiences and drive sales momentum by showcasing its remarkable smartwatches on other prominent platforms like Kuaishou (Kwai) and WeChat Channel within the year.

The M4 and GT8-PRO smartwatches unleash a plethora of advanced health and fitness tracking features, empowering users to elevate their well-being to new heights. With exercise reminders, sleep tracking tools, built-in GPS, voice assistants, and seamless integration with popular mobile applications like Alipay, these smartwatches offer a comprehensive and intuitive user experience.

Mr. Tao Ling, Chairman and CEO of the Company, commented: "We are so excited to open our first flagship store on short-video live streaming platform and unveil our smartwatch products. Our new smartwatch products signify our milestone in wearable technology. With their exceptional features, sleek design, and user-friendly interface, we are confident that customers will embrace these products, propelling our market share to new heights."

Mr. Ling further emphasized the significance of short video live streaming platforms such as Douyin, WeChat Channel, and Kuaishou (Kwai) in revolutionizing product promotion and sales in China. "We will harness the power of these platforms to engage specific audiences with tailor-made content, immersive interactive features, and establish unwavering trust and influence for the Ostin brand through live streaming, thus bolstering sales and profitability," added Mr. Ling.

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.

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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 smartwatch products; expectation to receive customer orders for new smartwatch products; the anticipated timing for the marketing and sales of new smartwatch 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 . 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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