New York, May 29, 2026, 04:16 (EDT)
- Ostin Technology Group’s Class A shares stayed on U.S. halt lists early Friday. The halt has been in place since Sept. 12, 2025.
- Trading was halted on the Nasdaq at 12:24:23 p.m. Eastern, with the last sale at $1.695, the exchange said.
- The company’s most recent annual filing said trading was stopped after a DOJ indictment of a former co-CEO and said there’s no guarantee shares will trade again.
Ostin Technology Group Co., Ltd. shares on Nasdaq stayed halted in early Friday trading. The Chinese display-component maker hasn’t seen price action since trading was stopped, with the last trade at $1.695.
Nasdaq’s 2026 holiday calendar doesn’t explain the halt—Memorial Day falls on May 25, Juneteenth on June 19, but current halt data still has OST on the non-Cboe Nasdaq halt list with a Sept. 12 timestamp. The halt is what matters now.
Trading halts are exchange-imposed stops on buying and selling. Nasdaq in September halted OST, citing a need for “additional information requested from the company.” Trading was set to stay halted until Nasdaq got what it asked for. The price on the screen isn’t current—the market isn’t trading OST. Nasdaq, Inc.
Ostin wrote in its Form 20-F that Nasdaq stopped trading the shares after the U.S. Department of Justice unsealed an indictment naming Lai Kui Sen, who was then co-CEO and a director, and Yan Zhao. The board removed Lai from his roles, set up a special committee of independent directors to look into the matter and said it can’t predict when or how the DOJ investigation, related regulatory probes or Nasdaq’s review will wrap up.
DOJ: Indictment Alleges $100M Securities Fraud With OST Shares The DOJ said an indictment accuses defendants of running a securities fraud scheme with OST shares, targeting U.S. retail investors. Prosecutors said the charged plot brought in more than $100 million for the accused and others. The FBI and SEC inspector general helped investigate. DOJ also said an indictment is only an allegation, and defendants are presumed innocent unless proven guilty.
Prosecutors said the hit was big. According to a DOJ victim-information page, OST lost more than $950 million in market cap on June 26, 2025—more than 94% of its value—after what the government called artificially inflated trading.
Ostin is still posting losses from its operating business. Sales climbed 22% to $39.7 million for the fiscal year ended Sept. 30, 2025, lifted by polarizers and other products, Ostin said. Net loss came in at $10.31 million, a bit more than last year.
Auditors raised going-concern doubts, warning that the company could face trouble staying afloat without enough funding or cash. The latest filing pointed to negative working capital of $21.36 million, an accumulated deficit at $28.54 million, and a net loss for 2025.
Ostin makes display modules and polarizers, thin optical films used in screens. In its 2025 filing, the company reported a 61% jump in polarizer sales from the year before, but display-module sales were down 16% after its biggest client shifted a production line to Vietnam, which reduced domestic orders. Mainland China made up 90% of total revenue.
Ostin is under pressure in Greater China from rivals such as Skyworth Group, Keystone and Lengda. Most large LCD production is held by BOE and TCL CSOT. Ostin also said its research and development costs climbed, due in part to a BOE display-module project and a clear polyimide project.
Main risk is still outside the usual numbers. If Nasdaq lets OST trade again, shares could move a lot after being frozen for months. If the review, criminal case or extra scrutiny drags on, investors might be stuck holding shares they can’t sell, and Ostin could get more listing, funding and reputation problems. The company said the halt wiped out liquidity and there’s no guarantee trading will start again, or ever.
