Ostin Technology Group Co., Ltd. Files 20-F Annual Report

TL;DR

<b>Ostin Technology Group Co., Ltd. has filed its annual report on Form 20-F for the fiscal year ending September 30, 2023, detailing its ordinary shares traded on Nasdaq.</b>

AI Summary

Ostin Technology Group Co., Ltd. (OST) filed a Foreign Annual Report (20-F) with the SEC on January 31, 2024. Ostin Technology Group Co., Ltd. filed its annual report on Form 20-F for the fiscal year ended September 30, 2023. The company's ordinary shares trade on The Nasdaq Stock Market LLC under the symbol OST. As of September 30, 2023, there were 14,006,250 ordinary shares issued and outstanding. The principal executive offices are located in Nanjing, Jiangsu Province, China. The filing is an annual report, not a registration statement or transition report.

Why It Matters

For investors and stakeholders tracking Ostin Technology Group Co., Ltd., this filing contains several important signals. This filing provides investors with the company's official financial and operational overview for the past fiscal year, crucial for assessing its performance and future prospects. The 20-F report is a key document for understanding the company's structure, business, and any material changes, impacting investment decisions.

Risk Assessment

Risk Level: low — Ostin Technology Group Co., Ltd. shows low risk based on this filing. The risk is low as this is a standard annual filing and does not contain immediate negative news or significant financial distress indicators.

Analyst Insight

Review the full 20-F filing for detailed financial statements, business operations, and risk factors to form an informed investment opinion.

Key Numbers

• 14,006,250 — Ordinary Shares Outstanding (As of September 30, 2023)
• 0930 — Fiscal Year End (Annual Report)
• 20230930 — Conformed Period of Report (Annual Report)
• 20240131 — Filed as of Date (Annual Report)

Key Players & Entities

• Ostin Technology Group Co., Ltd. (company) — Registrant
• OST (company) — Trading symbol
• The Nasdaq Stock Market LLC (company) — Exchange
• Tao Ling (person) — Company Contact Person

FAQ

Industry Context

The company operates in the electronic components sector, which is subject to global supply chain dynamics and technological advancements.

Regulatory Implications

As a foreign private issuer, Ostin Technology Group is subject to SEC regulations for annual reporting, including the filing of Form 20-F.

What Investors Should Do

1. Analyze the financial statements within the 20-F for revenue, profitability, and cash flow trends.
2. Review the 'Business' section for details on products, markets, and competitive landscape.
3. Examine the 'Risk Factors' section for potential challenges and uncertainties facing the company.

Year-Over-Year Comparison

This is the company's annual report for the fiscal year ended September 30, 2023, filed on Form 20-F.

Key Financial Figures

• $0.0001 — registered Ordinary shares, par value $0.0001 per share OST The Nasdaq Stock Market L
• $ — stal display, a display technology "US$," "U.S. dollars," "$," and "dollars"
• $1 — U.S. dollars are made at RMB7.2960 to US$1.00, the rate published by the Federal R

Filing Documents

• f20f2023_ostintechnology.htm (20-F) — 1954KB
• f20f2023ex2-1_ostintech.htm (EX-2.1) — 65KB
• f20f2023ex4-7_ostintech.htm (EX-4.7) — 63KB
• f20f2023ex8-1_ostintech.htm (EX-8.1) — 5KB
• f20f2023ex12-1_ostintech.htm (EX-12.1) — 9KB
• f20f2023ex12-2_ostintech.htm (EX-12.2) — 9KB
• f20f2023ex13-1_ostintech.htm (EX-13.1) — 3KB
• f20f2023ex13-2_ostintech.htm (EX-13.2) — 3KB
• f20f2023ex15-1_ostintech.htm (EX-15.1) — 5KB
• f20f2023ex97-1_ostintech.htm (EX-97.1) — 27KB
• image_001.jpg (GRAPHIC) — 45KB
• image_002.jpg (GRAPHIC) — 29KB
• ex15-1_001.jpg (GRAPHIC) — 211KB
• 0001213900-24-008053.txt (&nbsp;) — 9721KB
• ost-20230930_cal.xml (EX-101.CAL) — 61KB
• ost-20230930_def.xml (EX-101.DEF) — 419KB
• ost-20230930_lab.xml (EX-101.LAB) — 728KB
• ost-20230930_pre.xml (EX-101.PRE) — 440KB
• ost-20230930.xsd (EX-101.SCH) — 105KB
• f20f2023_ostintechnology_htm.xml (XML) — 1055KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS iv PART I Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Timetable 1 Item 3. Key Information 1 Item 4. Information on the Company 36 Item 4A. Unresolved Staff Comments 62 Item 5. Operating and Financial Review and Prospects 62 Item 6. Directors, Senior Management and Employees 78 Item 7. Major Shareholders and Related Party Transactions 86 Item 8. Financial Information 87 Item 9. The Offer and Listing 87 Item 10. Additional Information 87 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 104 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 104 PART II 105 Item 13. Defaults, Dividend Arrearages and Delinquencies 105 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 105 Item 15.

Controls and Procedures

Controls and Procedures 105 Item 16. [Reserved] 106 Item 16A. Audit Committee Financial Expert 106 Item 16B. Code of Ethics 106 Item 16C. Principal Accountant Fees and Services 107 Item 16D. Exemptions From the Listing Standards for Audit Committees 107 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 107 Item 16F. Change In Registrant's Certifying Accountant 107 Item 16G. Corporate Governance 107 Item 16H. Mine Safety Disclosure 108 Item 16I. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 108 Item 16J. Insider Trading Policies 108 Item 16K. Cybersecurity 108 PART III 109 Item 17.

Financial Statements

Financial Statements 109 Item 18.

Financial Statements

Financial Statements 109 Item 19. Exhibits 109 i CERTAIN TERMS AND CONVENSIONS Unless otherwise indicated, in this annual report, the following terms shall have the meaning set out below: "AIO" All-in-one computer "AMOLED" Active-matrix organic light emitting diode, is an organic light emitting diode display technology "China" or "PRC" The People's Republic of China, excluding Taiwan, solely for purpose of this annual report "Code" The United States Internal Revenue Code of 1986, as amended "Exchange Act" Securities Exchange Act of 1934, as amended "IoT" Internet of Things "Jiangsu Austin" Our wholly owned subsidiary, which is a company limited by shares incorporated in China "LED" Light emitting diode, a light emitting display technology "Nasdaq" Nasdaq Stock Market LLC "Nanjing Aosa" or "WFOE" Nanjing Aosa Technology Development Co., Ltd., our wholly owned subsidiary, which is a limited liability company formed in China "OLED" Organic light emitting diode, a light emitting display technology "ordinary shares" Our ordinary shares, par value $0.0001 per share "Ostin" Ostin Technology Group Co., Ltd., a Cayman Islands exempted company "our company," the "Company," "us" or "we" Ostin Technology Group Co., Ltd. and/or its consolidated subsidiaries, unless the context suggests otherwise "PCAOB" Public Company Accounting Oversight Board "polarizer" Polarizing film, a composite optical film used in LCD/OLED/AMOLED displays "RMB" or "Renminbi" Legal currency of China "PFIC" A passive foreign investment company "SEC" The United States Securities and Exchange Commission "Shanghai Inabata" Shanghai Inabata Trading Co., Ltd., a wholly owned subsidiary of Inabata & Co., Ltd. "Securities Act" The Securities Act of 1933, as amended "TFT-LCD" Thin-film transistor liquid crystal display, a display technology "US$," "U.S. dollars," "$," and "dollars" Legal currency of the United Stat

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report contains "forward-looking beliefs, projections and predictions about future events. You can identify some of these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These

forward-looking statements include statements relating to

forward-looking statements include statements relating to: the expected or potential impact of the novel coronavirus (COVID-19) pandemic, and the related responses of the government, consumers, and the Company, on our business, financial condition and results of operations; the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for and market acceptance for our products; our ability to effectively manage inventories; our ability to compete effectively; our dependence on a small number of customers for a substantial portion of our net revenue; our ability to successfully manage our capacity expansion and allocation in response to changing industry and market conditions; implementation of our expansion plans and our ability to obtain capital resources for our planned growth; our ability to acquire sufficient raw materials and key components and obtain equipment and services from our suppliers in suitable quantity and quality; our dependence on key personnel; our ability to expand into new businesses, industries or internationally and to undertake mergers, acquisitions, investments or divestments; changes in technology and competing products; general economic and political conditions, including those related to the display panel industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activity fluctuations in foreign currency exchange rates; and other factors in the " Item 3. Key Information – D. Risk Factors " section in this annual report. These forward-looking statements are subject to various and significant risks and uncertainties, including those which are beyond our control. Although we believe that our expectations expressed in these forward-looking statements are reasonable, our expectations may later be found to be incorrect. The forward-looking

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Our Holding Company Structure Ostin is not an operating company but a Cayman Islands holding company with operations primarily conducted by its subsidiaries based in China. We and our subsidiaries are subject to complex and evolving PRC laws and regulations and face various legal and operational risks and uncertainties relating to doing business in China. For example, we and our subsidiaries in the PRC face risks associated with regulatory approvals on offshore offerings, anti-monopoly regulatory actions, and oversight on cybersecurity and data privacy, as well as the lack of inspection on our auditors by the PCAOB, which may impact our ability to conduct certain businesses, accept foreign investments, or list and conduct offerings on a United States or other foreign exchange. These risks could result in a material adverse change in our operations and the value of our ordinary shares, significantly limit or completely hinder our ability to continue to offer securities to investors, or cause the value of such securities to significantly decline. For a detailed description of risks relating to doing business in China, please refer to risks disclosed under " Item 3. Key Information—D. Risk Factors—Risks Relating to Doing Business in China ." PRC government's significant authority in regulating our operations and its oversight and control over offerings conducted overseas by, and foreign investment in, China-based issuers could significantly limit or completely hinder our ability to offer or continue to offer securities to investors. Implementation of industry-wide regulations, including data security or anti-monopoly related regulations, in this nature may cause the value of such securities to significantly decline. For more details, see " Item 3. Key Information—D. Risk Factors—Risks Relating to Doing Business in China— The PRC government exerts substantial influence over the manner in which we conduct our business activities. The PRC gove

View Full Filing

View this 20-F filing on SEC EDGAR