Ostin Technology Group Secures RMB17.64 Million LCD/TP Display Module Purchase Orders
Nanjing, China, July 28, 2022 (GLOBE NEWSWIRE) -- Ostin Technology Group Co., Ltd. (Nasdaq: OST) announced securing purchase orders for LCD/TP display modules valued at RMB17.64 million (approximately $2.6 million). These modules will be utilized in Colorful Technology Company's new iGame G-ONE Plus All-in-One gaming PC. Featuring high-end specifications, including HDR imaging and 99% sRGB color gamut, the delivery is expected by year-end 2022. Chairman Tao Ling expressed optimism about the orders, highlighting their commitment to customer needs and long-term relationships.
- Secured purchase orders worth RMB17.64 million ($2.6 million).
- Modules to be used in a high-end gaming PC, indicating strong market demand.
- Expectations for delivery completion by end of 2022.
- Dependence on Colorful Technology for business, presenting client concentration risk.
- Potential supply chain disruptions due to lingering effects of the COVID-19 pandemic.
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
The display modules are expected to be used in iGame G-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.
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 (HDR) imaging which provides exceptional brightness and contrast of images. Furthermore, they cover
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.”
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.
For more information, please contact:
Investor Relations
EverGreen Consulting Inc.
Ms. Janice Wang, Managing Partner
Email: IR@changqingconsulting.com
Phone: +1 470 940 3308 (from U.S.)
+86 13811768559 (from China)
FAQ
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