Ostin Technology Group Secures RMB17.64 Million LCD/TP Display Module Purchase Orders

　　奧斯汀科技集團獲得1764萬元的液晶/TP顯示模組采購訂單

　　Nanjing, China, July 28, 2022 (GLOBE NEWSWIRE) - Ostin Technology Group Co., Ltd. (the "Company") (Nasdaq: OST), a supplier of display modules and polarizers in China, today announced that the Company has secured purchase orders for LCD/TP display modules of an aggregate value of RMB17.64 million (approximately $2.6 million).

　　中國南京，2022年7月28日(環球通訊社)—奧斯汀科技集團有限公司(“公司”)(納斯達克代碼:OST)，一家中國顯示模組和偏光片供應商，今天宣布該公司已獲得總價值人民幣1764萬元(約260萬美元)的LCD/TP顯示模組訂單。

　　The display modules are expected to be used in iGameG-ONE Plus, which is a brand new All-in-One (“AIO”) gaming PC manufactured by Colorful Technology Company Limited (“Colorful”). Based in Shenzhen, China, Colorful is mainly engaged in the manufacturing of computer video cards, motherboards, all-in-one gaming devices, as well as providing multimedia solutions and high-performance data storage services. Colorful’s high-end hardware brand iGame serie products are highly recognized by game users worldwide for their unique design and reliable quality, and have won more than 500 awards such as Kapok Prize and China Red Star Design Award in the global media and industrial design field.

　　該顯示模組用于由深圳七彩虹科技有限公司(以下簡稱“七彩虹”)生產的全新一體機游戲電腦“iGame G-ONE Plus”。七彩虹是一家專業生產顯卡、主板、游戲AIO設備，提供多媒體解決方案和高性能存儲服務的廠家。旗下高端硬件品牌iGame系列產品以其獨特的設計和可靠的質量得到全球高級游戲用戶的高度認可，在全球媒體和工業設計領域獲得紅棉獎、中國紅星設計獎等500多項獎項。

　　The display modules OST will provide for the Colorful iGame G-ONE Plus are high-end and customized modules fitted on liquid-crystal displays with in-plane switching screen technology. These display modules feature high dynamic range (HRD) imaging which provides exceptional brightness and contrast of images. Furthermore, they cover 99% of the sRGB color gamut for crisp and accurate color reproduction. The Company expects to complete the delivery of the orders by the end of 2022.

　　OST將為七彩虹iGame G-ONE Plus提供的顯示模組是一款高端定制模塊，安裝在具有平面內切換屏幕技術的液晶顯示器上。這些顯示模塊具有高動態范圍(HRD)成像，提供卓越的亮度和圖像對比度。此外，他們它涵蓋了99%的sRGB色域和準確的色彩再現。該公司預計在2022年底完成這批訂單交付。

　　Mr. Tao Ling, Chairman and CEO of the Company, commented: “We are delighted to receive the orders from Colorful, which demonstrates the remarkable performance of our display modules products. We believe our products are able to power the iGame G-ONE Plus AIO gaming PC and provide an unrivaled gaming experience for gamers. We are dedicated to meet our customers’ evolving needs and have focused on establishing and maintaining long term relationships with our customers, in an effort to ensure our sustained development and improved profitability.”

　　公司董事長兼首席執行官凌濤先生表示:“我們很高興獲得AIO顯示組件訂單，這是公司顯示模組產品的又一卓越表現。我們也相信我們的產品能夠支持iGame G-ONE Plus AIO游戲PC，為玩家提供最無與倫比的游戲體驗。我們關注客戶不斷變化的需求，追求與客戶的長期合作關系，以確保我們的持續增長和盈利能力的提升。”

　　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. The risks and uncertainties relating to these statements include, but are not limited to, erisks and uncertainties regarding lingering effects of the Covid-19 pandemic on our businesses, including disruptions to our supply chain, our ability to deliver customer orders timely, our ability to raise capital, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to attract and retain skilled professionals, client concentration, and general economic conditions affecting our industry and other factors discussed in the “Risk Factors” section of the registration statement filed 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.