Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2024

 

Commission File Number: 001-41362

 

Ostin Technology Group Co., Ltd.

(Translation of registrant’s name into English)

 

Building 2, 101

1 Kechuang Road

Qixia District, Nanjing

Jiangsu Province, China 210046

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒            Form 40-F ☐

 

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT 

 

Ostin Technology Group Co., Ltd. (the “Company”) is filing its unaudited financial results for the six months ended March 31, 2024 and to discuss its recent corporate developments. Attached as exhibits to this Report on Form 6-K are:

 

●

the management’s discussion and analysis of financial condition and results of operations as Exhibit 99.1;

 

●

the unaudited condensed consolidated financial statements and related notes as Exhibit 99.2; and

 

●

interactive data file disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T.

 

This report shall be deemed to be incorporated by reference into the registration statement of the Company on Form F-3 (File No. 333-279177) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

 

This report on Form 6-K and the exhibits hereto contain “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that represent the Company’s beliefs, projections and predictions about future events. All statements other than statements of historical fact are “forward-looking statements,” including any projections of earnings, revenue or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements concerning proposed new projects or other developments, any statements regarding future economic conditions or performance, any statements of management’s beliefs, goals, strategies, intentions and objectives, and any statements of assumptions underlying any of the foregoing. Words such as “may”, “will”, “should”, “could”, “would”, “predicts”, “potential”, “continue”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar expressions, as well as statements in the future tense, identify forward-looking statements.

 

These statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause the Company’s actual results, performance or achievements, or industry results, to differ materially from any future results, performance or achievements described in or implied by such statements. Actual results may differ materially from expected results described in the Company’s forward-looking statements, including with respect to correct measurement and identification of factors affecting the Company’s business or the extent of their likely impact, and the accuracy and completeness of the publicly available information with respect to the factors upon which the Company’s business strategy is based or the success of the Company’s business.

 

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, the Company’s performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and management’s belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, those factors discussed more fully under the caption “Risk Factors” as well as other risks and factors identified from time to time in the Company’s SEC filings.

  

1

 

 

Exhibit Index

 

Exhibit No.		Description
99.1		Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Six Months Ended March 31, 2024 and 2023
99.2		Condensed Consolidated Financial Statements for the Six Months Ended March 31, 2024 and 2023
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	Ostin Technology Group Co., Ltd.
	By:	/s/ Tao Ling
	Name:	Tao Ling
	Title:	Chief Executive Officer

 

Date: August 23, 2024

 

 

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Exhibit 99.1

 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited consolidated financial statements and related notes as set forth in Exhibit 99.2 entitled “Condensed Consolidated Financial Statements for the Six Months Ended March 31, 2024 and 2023.” In addition to historical unaudited consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and “Risk Factors” as more fully disclosed in our Annual Report on Form 20-F for the fiscal year ended September 30, 2023, as filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 31, 2024. All amounts included herein with respect to the six months ended March 31, 2024 and 2023 are derived from our unaudited consolidated financial statements included elsewhere in Exhibit 99.2. Our financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP. Unless the context indicates otherwise, references to “Ostin” are to Ostin Technology Group Co., Ltd., a Cayman Islands exempted company and references to “we,” “us,” “our,” “our company,” the “Company” or similar terms used in this Exhibit 99.1 are to Ostin and/or its consolidated subsidiaries.

 

Overview

 

We are a supplier of display modules and polarizers based in China. We design, develop, and manufacture TFT-LCD modules in a wide range of sizes, including custom sizes tailored to our customers’ specifications. Our display modules are primarily used in consumer electronics, commercial LCD displays, and automotive displays. In addition to manufacturing polarizers used in TFT-LCD display modules, we are also in the process of developing protective films for OLED display panels. Furthermore, we distribute various sizes of display products through business-to-business (B2B) offline channels and business-to-consumer (B2C) online channels such as Tmall flagship store, JD.com and Douyin online stores and are currently marketing Pintura, our new IoT display products.]

 

We were founded in 2010 by a group of industry veterans, and have been operating our business, primarily through our wholly-owned subsidiary, Jiangsu Austin Optronics Technology Co., Ltd. (“Jiangsu Austin”), and its subsidiaries. We currently operate our headquarter and three manufacturing facilities across China, collectively spanning 50,335 square meters. Our headquarter and one factory for the manufacture of display modules is located in Jiangsu Province, one factory for the manufacture of TFT-LCD polarizers is located in Chengdu, Sichuan Province, and another factory for the manufacture of display modules which are primarily used in display devices for education, healthcare, transportation, and commercial offices is located in Luzhou, Sichuan Province.

 

We seek to improve our market position through our close collaborative customer relationships and emphasizing the development of high-end display products and new display materials. Our customers include leading manufacturers of computers, automotive electronics, and LCD displays, in Greater China. We successfully introduced our polarizers to the Chinese market, and expanded our product lines to include polarizers used for both vertical alignment (VA) panels and in-plane switching (IPS) panels in 2020.

 

 

 

 

Recent Developments

 

During the six months ended March 31, 2024 we continued our efforts on new product development, including introduction of a new protection film for OLED panels and wafers, offering enhanced protection against dust and scratches. This protection film will be produced using the same facilities we used for polarizers. We continued our efforts on research and development, and refining our manufacturing process after extensive testing for improvement during the six months ended March 31, 2024, and started mass production of the protective film in the second half of 2024.

 

In an effort to increase profits and fully utilize our expertise in the display panel industry, we have expanded our production to include end-user display products, such as commercial displays and consumer electronics, which generally offer higher profit margins than our display module products. Additionally, we have independently developed new technologies for our proprietary products, including the all-in-one intelligent conference system and the Pintura wireless photo transmission system which was launched in China since September 2022. Our sales focus has been primarily on the B2B market. However, as our sales progressed, extensive market analysis led us to strategically pivot towards the B2C market, necessitating a comprehensive upgrade of our products to align with this shift. To bolster the marketing of these innovative products, we have strengthened our sales force by adding more representatives, provided targeted end-user sales training, increased our participation in electronics exhibitions, and amplified our advertising expenditures. These efforts are part of our broader strategy to enhance market penetration for our products oriented towards end-users. We launched a crowdfunding campaign for Pintura wireless photo transmission system products in the United States in March 2024, and raised nearly $100,000 on a crowdfunding platform by June 2024. In addition, we have introduced Pintura wireless photo transmission system products in China since mid-February 2024 through different sales channels, including traditional e-commerce platforms, new media business, and domestic offline stores. We plan to expand Pintura wireless photo transmission system products’ presence on more e-commerce platforms and enter European and other international markets.

 

During the six months ended March 31, 2024 we have leveraged on our research and development capabilities and expertise in the display module field to develop customized solutions for our clients. We continue to apply new technologies to our self-developed products, including the all-in-one intelligent conference system and the Pintura wireless photo transmission system. For the all-in-one intelligent conference system, we have enhanced its AI functionalities, such as the accuracy of facial and voice recognition. The Pintura wireless photo transmission system has undergone simultaneous hardware and software upgrades based on feedbacks from our current customers.

 

On January 19, 2024, the Company entered into certain securities purchase agreement with an accredited investor pursuant to which the Company sold a senior unsecured convertible note in the original principal amount of $550,000 at a purchase price of $500,000. Subject to certain sales limitation, the note is convertible into class A ordinary shares, par value US$0.0001 per share (“Class A Ordinary Shares”) of the Company beginning on the date that is six months from the closing date. On January 22, 2024, the Company completed its issuance and sale of the note pursuant to the securities purchase agreement. The issuance of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder. The gross proceeds from the sale of the note were $500,000 prior to deducting transaction fees and estimated expenses. The Company intended to use the proceeds for working capital and general corporate purposes. On June 24, 2024, the Company repaid the convertible promissory note dated January 19, 2024 in full, and the investor released the Company from any and all obligations and liabilities under the note. As a result, the note was deemed paid in full, canceled and of no further force or effect.

 

2

 

 

On January 31, 2024, the Company entered into certain subscription agreement and registration rights agreement with a “non-U.S. Person” investor as defined in Regulation S of the Securities Act for a private placement of unregistered shares. Pursuant to the subscription agreement, the Company agreed to issue and sell to the investor 2,800,000 unregistered Class A Ordinary Shares of the Company at a purchase price equivalent to US$0.35 per share. The Company received US$980,000 in gross proceeds from the private placement of unregistered Class A Ordinary Shares. The private placement was closed on February 7, 2024. The issuance of these unregistered Class A Ordinary Shares in the private placement is exempt from the registration requirements of the Securities Act, pursuant to Regulation S promulgated thereunder. 

  

On June 21, 2024, the Company entered into certain securities purchase agreement with an accredited investor pursuant to which the Company sold a senior unsecured convertible note in the original principal amount of $1,360,000, at a purchase price of $1,250,000. Subject to certain sales limitation, the note is convertible into Class A Ordinary Shares of the Company beginning on the closing date and continuing thereafter until the note is repaid in full. On June 24, 2024, the Company completed its issuance and sale of the note pursuant to the securities purchase agreement. The investor has previously invested in securities of the Company or otherwise had pre-existing relationships with the Company; however, the Company did not engage in general solicitation or advertising with regard to the issuance and sale of the note. The Class A Ordinary Shares, as converted, were registered with the SEC pursuant to a prospectus supplement to the Company’s currently effective registration statement on Form F-3 (File No. 333-279177), which was initially filed with the SEC on May 7, 2024, and was declared effective on May 28, 2024 (the “Shelf Registration Statement”). The Company filed the prospectus supplement to the Shelf Registration Statement with the SEC on June 21, 2024. The gross proceeds from the sale of the note were $1,2500,000, prior to deducting transaction fees and estimated expenses. The Company intends to use the proceeds for repayment of the prior convertible promissory note dated January 19, 2024, and working capital for general corporate and administrative purposes.

 

Key Factors Affecting Our Results

 

Our results are primarily derived from the sales of display modules and polarizers to display manufacturers, end-brand customers or their system integrators in China, Hong Kong and Taiwan. The historical performance and outlook for our business is influenced by numerous factors, including the following:

 

●

Fluctuations in Prices of Electronic Component, Polarizer Materials, Other Costs - Fluctuations in the prices of raw materials can lead to volatility in the pricing of our products, which influences the buying patterns of our customers. Because the raw material cost represents over half of our total cost of sales, higher or lower raw material cost affects our gross margins. Increases in the market price of raw materials typically enable us to raise our selling prices. To a lesser extent, our gross margins and selling prices can also be impacted by the prices of other raw materials, transportation and labor.

 

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●

Price Fluctuations Due to Cyclical Market Condition - The display panel industry in general is characterized by cyclical market conditions. From time to time, the industry has been subject to imbalances between excess supply and a slowdown in demand, and in certain periods, resulting in declines in selling prices. In addition, capacity expansion anticipated in the display panel industry may lead to excess capacity. Capacity expansion in the display panel industry may be due to scheduled ramp-up of new manufacturing facilities, and any large increases in capacity as a result of such expansion could further drive down the selling prices of our products, which would affect our results of operations. We cannot assure you that any continuing or further decrease in selling prices or future downturns resulting from excess capacity or other factors affecting the industry will not be severe or that any such continuation, decrease or downturn would not seriously harm our business, financial condition and results of operations.

 

●

General Competition - Our products, competing in Greater China, have historically faced significant competition. Our strategy of excellent customer service, high-quality products, and rapid order fulfillment has been effective. However, the current downturn in demand within the broader display and IT industries has intensified competition. This situation could be challenging if competitors provide lower prices, enhance on-time delivery, or take other competitive actions potentially impacting our customers’ purchase decisions.

 

Impact of the Covid-19 Pandemic

 

During the six months ended March 31, 2024, the adverse effects of the COVID-19 pandemic on the business sector that we operate in persists, due to the negative impact on both international and domestic economies, as well as various geopolitical factors. Although the Chinese government has now lifted the restrictions and we have resumed normal business operations, the COVID-19 pandemic still has negatively impacted, and may continue to negatively impact, the global economy and disrupt normal business activity, which may have an adverse effect on our results of operations.

 

The impacts of COVID-19 on our business, financial condition, and results of operations include, but are not limited to, the following:

 

●

The demand for consumer electronics, including TVs, monitors, and entertainment devices, has experienced a decline due to market saturation. This saturation emerged during the period of government restrictions when there was an increased demand for in-home entertainment. Now, with the lifting of these controls, the market has transitioned into a state of saturation for consumer electronics. Additionally, a shift in consumer spending towards outdoor activities such as tourism has further diminished the demand for these products. This shift, coupled with the economic impacts of the pandemic such as reduced savings and wages, has led to a decline in our sales and prices of display modules for the year ended March 31, 2024, compared to the previous year.

 

In the longer-term, the adverse effects of the COVID-19 pandemic on the economies and financial markets of many countries are expected to persist, and may lead to an economic downturn or recession. This could adversely affect demand for some of our products and those of our customers, such as display modules used for automotive display, which may, in turn negatively impact our results of operations.

 

The degree to which the pandemic and its subsequent effects ultimately impacts our business and results of operations will depend on future developments beyond our control, including the severity of the pandemic, the actions to contain or treat the virus, how quickly and to what extent the economic and operating conditions can resume, and the severity and duration of the global economic downturn as a result of the pandemic. 

 

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Results of Operations

 

For the Six Months Ended March 31, 2024 and 2023

 

The following table summarizes the results of our operations for the six months ended March 31, 2024 and 2023, respectively, and provides information regarding the dollar and percentage increase or (decrease) during such periods.

 

(All amounts, other than percentages, are in U.S. dollars)

 

		For the Six Months
		Ended March 31,								Variance
		2024				2023				Amount				Percentage
Sales		$	14,973,048			$	34,295,114			$	(19,322,066	)			(56	)%
Cost of sales			14,082,663				33,603,125				(19,520,462	)			(58	)%
Gross profit		$	890,385				691,989				198,396				29	%
Operating expenses:
Selling and marketing expenses			897,059				1,325,919				(428,860	)			(32	)%
General and administrative expenses			2,900,993				3,175,731				(274,738	)			(9	)%
Research and development costs			965,157				1,430,401				(465,244	)			(33	)%
Gain from disposal of property, plant and equipment			81,036				160,288				(79,252	)			(49	)%
Total operating expenses		$	4,682,173				5,771,763				(1,089,590	)			(19	)%
Operating income (loss)		$	(3,791,788	)		$	(5,079,774	)		$	(1,287,986	)			(25	)%
Other income (expenses):
Interest expense, net			(1,102,464	)			(544,923	)			557,541				102	%
Other income (expenses), net			244,873				499,982				(255,109	)			51	%
Total other income (expenses), net			(857,591	)			(44,941	)			812,650				1,808	%
Income before income taxes		$	(4,649,379	)		$	(5,124,715	)		$	475,336				(9	)%
Income tax provision			-				108,189				(108,189	)			(100	)%
Net income (loss)		$	(4,649,379	)		$	(5,016,526	)		$	367,147				7	%

 

Sales

 

The following table presents revenue by major product and service categories for the six months ended March 31, 2024 and 2023, respectively.

 

		March 31, 2024								March 31, 2023
		Revenues Amount				As % of				Revenues Amount				As % of
Revenue Category		(In USD)				Revenues				(In USD)				Revenues
Display modules		$	8,285,437				55	%		$	15,137,071				44	%
Polarizers			5,983,816				40	%			16,974,322				49	%
Research and development services			-					%			-				-	%
Others (repair services)			703,795				5	%			2,183,721				6	%
Total		$	14,973,048				100	%		$	34,295,114				100	%

 

Revenues decreased by approximately $19.32 million or 56%, to approximately $14.97 million for the six months ended March 31, 2024 from approximately $34.30 million for the six months ended March 31, 2023. The significant decrease in revenues was primarily due to the decline in market demand, which resulted in decreased sales of polarizers and display modules, as more fully discussed below.

 

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Sales of display modules decreased by approximately $6.85 million or 45%, to approximated $8.29 million for the six months ended March 31, 2024 from approximately $15.14 million for the six months ended March 31, 2023. Based on seasonality in our business and cyclical nature of our industry, we believe that the market demand will gradually recover in the second half of 2024 and give a steady boost to our sales of display modules in the next 6 to 12 months. We have also improved our research and development capabilities based on accumulated experience and expertise of new products research and development catering to our major end-brand clients and expanded certain product lines which have already entered mass production and sales stages. For the six months ended March 31, 2024 and 2023, revenue generated from sales of the display modules accounted for 54% and 44% of our total revenues, respectively.

 

For the six months ended March 31, 2024 and 2023, revenue generated from the polarizers were approximately $5.98 million and $16.97 million, respectively, representing a substantial decrease of approximately $10.99 million or 65%. Due to the slowdown in the electronics consumer market, there has been a decline in customer demand for polarizers during the six months ended on March 31, 2024. In 2018, we made a strategic decision to launch our new business segment - polarizers and our Chengdu manufacturing facility commenced mass production of polarizers in April 2019. Polarizer is an essential part of TFT-LCD display panel and was in high demand in China due to limited domestic production capacity and concentration of supply in oversea suppliers. To facilitate mass production of polarizers, we invested substantial amounts of capital and human resources to construct and operate our Chengdu manufacturing facility during the six months ended March 31, 2024, and closed other low-margin product lines of display modules.   

 

For the six months ended March 31, 2024 and 2023, revenue generated from our research and development services was nil and nil, respectively. This was primarily due to the fact that the research and development team suspended the external service to put its main efforts into the independent product development of our own since October 2022.

 

Sales of others decreased by approximately $1.48 million or 68%, to approximated $0.70 million for the six months ended March 31, 2024 from approximately $2.18 million for six months ended March 31, 2023. The significant decrease in revenues was primarily due to the decline in sales of customer product, which reduced the after-sales repair rate of the products, thereby decreasing our repair service revenue.

 

The following table shows our revenues by geographic region for the six months ended March 31, 2024 and 2023. To mitigate impact of the fluctuation of exchange rates and transportation costs, we switched from overseas to domestic markets, and therefore, our sales to Hong Kong and Taiwan decreased substantially during the six months ended March 31, 2024 as compared to the same period last year.

 

		March 31, 2024								March 31, 2023
		Revenues Amount				As % of				Revenues Amount				As % of
Country/Region		(In USD)				Revenues				(In USD)				Revenues
Mainland China		$	14,641,702				98	%		$	33,524,738				98	%
Hong Kong and Taiwan			331,346				2	%			761,136				2	%
Southeast Asia			-				-				9,240				-
Total		$	14,973,048				100	%		$	3,4974,469				100	%

 

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Cost of sales

 

The following table presents cost of sales by major product and service categories for the six months ended March 31, 2024 and 2023, respectively.

 

		For the Six Months Ended March 31,
		2024				2023
Product Category
Display modules		$	7,616,421			$	13,986,161
Polarizers			5,802,198				16,226,347
Research and development services			-				1,434,771
Others (repair services)			664,045				1,955,845
Total		$	14,082,663			$	33,603,125
Gross Margin
Display modules			8	%			8	%
Polarizers			3	%			4	%
Research and development services			-				-	/%
Others (repair services)			6	%			10	%
Total Gross Margin			6	%			2	%

 

Cost of sales decreased by approximately $19.52 million or 58%, to approximately $14.08 million for the six months ended March 31, 2024 from approximately $33.60 million for six months ended March 31, 2023. The decrease in cost of sales was generally in line with the decrease of total sales.

 

Our gross profit increased by approximately $0.20 million, or 29%, to approximately $0.89 million for the six months ended March 31, 2024 from approximately $0.69 million for the six months ended March 31, 2023. Overall gross profit margin was 5.9% for six months ended March 31, 2024 as compared to 2.0% for six months ended March 31, 2023. The increase in gross margin was primarily due to the increased proportion of new product models with higher gross margins in overall sales

  

The decreases in gross profit margin of polarizers were primarily attributable to the decrease in customer orders resulting in a decline in sales volume, leading to an increase in the allocation of fixed costs.

 

Selling and marketing expenses

 

Selling and marketing expenses decreased by approximately $0.43 million, or 32%, to approximately $0.90 million for the six months ended March 31, 2024 as compared to approximately $1.33 million for the six months ended March 31, 2023. The decrease in selling and marketing expenses was mainly due to the reduction in market development activities.

 

General and administrative expenses

 

General and administrative (“G&A”) expenses decreased by approximately $0.27 million, or 9%, to approximately $2.90 million for the six months ended March 31, 2024 as compared to approximately $3.18 million for the six months ended March 31, 2023. By implementing effective cost management strategies, the Company has reduced administrative expenses, resulting in a noticeable decrease in G&A expenses.

 

Research and development expenses

 

Our research and development expenses decreased by approximately $0.47 million to $0.97 million for the six months ended March 31, 2024 from approximately $1.43 million for the same period in 2023. The decrease in research and development expenses was attributed to the completion of the Pintura wireless photo transmission system products, thus eliminating the need for significant investment in R&D funds during this period.

 

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Gain from disposal of property, plant and equipment

 

For the six months ended March 31, 2024, the Company disposed machinery, equipment and transportation vehicles with a net book value of $373,778 (cost of $635,843, accumulated depreciation of $262,065) and received cash from disposal of $455,532, resulting in a net disposal income of $81,036. Similarly, for the six months ended March 31, 2023, the Company disposed of machinery, equipment and transportation vehicles with a net book value of $205,928 (cost of $290,302, accumulated depreciation of $84,374) and received cash from disposal of $366,216, resulting in a net disposal income of $160,288. The disposals were targeted to reduce maintenance costs of underutilized machinery, equipment, and transportation, and to improve production efficiency post-disposal.

 

Other income (expenses)

 

Other income was approximately $0.24 million for the six months ended March 31, 2024, which primarily consisted of other non-business income of $0.25 million and other non-business expenses of $0.01 million. Other non-business income was mainly government subsidiaries of $0.23 million.

 

Other income was approximately $0.50 million for the six months ended March 31, 2023, which primarily consisted of other non-business income of $0.52 million and other non-business expenses of $0.02 million. Other non-business income was mainly government subsidiaries of $0.48 million.

 

Net income (loss)

 

As a result of the foregoing, we recorded a net loss of approximately $4.65 million and a net loss of $5.02 million for the six months ended March 31, 2024 and 2023, respectively.

 

For the Six Months Ended March 31, 2023 and 2022

 

The following table summarizes the results of our operations for the six months ended March 31, 2023 and 2022, respectively, and provides information regarding the dollar and percentage increase or (decrease) during such periods.

 

(All amounts, other than percentages, are in U.S. dollars)

 

		For the Six Months
		Ended March 31,								Variance
		2023				2022				Amount				Percentage
Sales		$	34,295,114			$	60,094,661			$	(25,799,547	)			(43	)%
Cost of sales			33,603,125				51,460,589				(17,857,464	)			(35	)%
Gross profit		$	691,989				8,634,072				(7,942,083	)			(92	)%
Operating expenses:
Selling and marketing expenses			1,325,919				1,419,660				(93,741	)			(7	)%
General and administrative expenses			3,175,731				3,550,877				(375,146	)			(11	)%
Research and development costs			1,430,401				2,028,038				(597,637	)			(29	)%
Loss (Gain)from disposal of property, plant and equipment			(160,288	)			1,242				(161,530	)			(13,006	)%
Total operating expenses		$	5,771,763				6,999,817				(1,228,054	)			(18	)%
Operating income		$	(5,079,774	)		$	1,634,255			$	(6,714,029	)			(411	)%
Other income (expenses):
Interest expense, net			(544,923	)			(741,667	)			196,744				(27	)%
Other income (expenses), net			499,982				615,587				(115,605	)			(19	)%
Total other income (expenses), net			(44,941	)			(126,080	)			81,139				(64	)%
Income before income taxes		$	(5,124,715	)		$	1,508,175			$	(6,632,890	)			(440	)%
Income tax provision			108,189				(306,515	)			414,704				(135	)%
Net income		$	(5,016,526	)		$	1,201,660			$	(6,218,186	)			(517	)%

 

8

 

 

Sales

 

The following table presents revenue by major product and service categories for the six months ended March 31, 2023 and 2022, respectively.

 

		March 31, 2023								March 31, 2022
		Revenues Amount				As % of				Revenues Amount				As % of
Revenue Category		(In USD)				Revenues				(In USD)				Revenues
Display modules		$	15,137,071				44	%		$	27,961,103				47	%
Polarizers			16,974,322				49	%			23,750,420				40	%
Research and development services			-				-				4,957,518				8	%
Others (repair services)			2,183,721				6	%			3,425,620				5	%
Total		$	34,295,114				100	%		$	60,094,661				100	%

 

Revenues decreased by approximately $25.80 million or 43%, to approximately $34.30 million for the six months ended March 31, 2023 from approximately $60.09 million for the six months ended March 31, 2022. The significant decrease in revenues was primarily due to the decrease in sales from both display modules and polarizers resulted from the large-scale outbreak of coronavirus infections in mainland China in the fourth quarter of 2022 as more fully discussed below.

   

Revenue from sales of display modules decreased by approximately $12.82 million or 46%, to approximated $15.14 million for the six months ended March 31, 2023 from approximately $27.96 million for the six months ended March 31, 2022. Based on seasonality in our business and cyclical nature of our industry, we believe that the market demand will gradually recover in the second half of 2023 and give a steady boost to our sales of display modules in the next 12 to 18 months. We have also improved our research and development capabilities based on accumulated experience and expertise of new products research and development catering to our major end-brand clients and expanded certain product lines from trial production to mass production. For the six months ended March 31, 2023 and 2022, revenue generated from sales of the display modules accounted for 44% and 47% of our total revenues, respectively.

 

In 2018, we made a strategic decision to launch our new business segment - polarizers and our Chengdu manufacturing facility commenced mass production of polarizers in April 2019. Polarizer is an essential part of TFT-LCD display panel and has been in high demand in China due to limited domestic production capacity and concentration of supply in oversea suppliers. By adding polarizers in our product offering portfolio, we effectively expanded our business horizon, extended customer outreach, and strengthened our competitiveness. To facilitate mass production of polarizers, we invested substantial amounts of capital and human resources to construct and operate our Chengdu manufacturing facility during the six months ended March 31, 2023 and closed other low-margin product lines of display modules. For the six months ended March 31, 2023 and 2022, revenue generated from the polarizers were approximately $16.97 million and $23.75 million, respectively, representing a decrease of approximately $6.78 million or 29%. The prolonged COVID-19 pandemic has had a negative impact on the economy and thereby lowered the expectations of income, which has subsequently affected the demand for electronic consumer goods. Such decreased demand in the six months ended March 31, 2023 resulted decrease in the sales of our polarizers. For the six months ended March 31, 2023 and 2022, revenue generated from sales of polarizers accounted for 49% and 40% of our total revenues, respectively.

 

In addition to revenue from sales of display modules and polarizers, we also provide display panel repair services to our customers at extra charges, which involves sales of our products as replacement of certain parts of the display panels. The repair services were originally offered to a limited number of customers at their request and represent only a small portion of our revenues. As a result of our extending repair services customer base to those who did not purchase our display panel products, our revenues from repair services decreased by approximately $1.24 million, or 36%, to approximately $2.18 million for the six months ended March 31, 2023 from approximately $3.43 million for the six months ended March 31, 2022.

 

For the six months ended March 31, 2023, revenue generated from our new products R&D services was nil, representing significant decrease as compared to approximately $4.96 million for the six months ended March 31, 2022. This was primarily due to the fact that our R&D team suspended the external service to put its main efforts into our independent product development.

 

9

 

 

The following table shows our revenues by geographic region for the six months ended March 31, 2023 and 2022. To mitigate impact of the fluctuation of exchange rates and transportation costs, we switched from overseas to domestic markets, and therefore, our sales to Hong Kong and Taiwan decreased substantially during the six months ended March 31, 2023 as compared to the same period last year.

 

		March 31, 2023								March 31, 2022
		Revenues Amount				As % of				Revenues Amount				As % of
Country/Region		(In USD)				Revenues				(In USD)				Revenues
Mainland China		$	33,524,738				98	%		$	55,034,541				92	%
Hong Kong and Taiwan			761,136				2	%			5,060,120				8	%
Southeast Asia			9,240				-				-				-
Total		$	34,295,114				100	%		$	60,094,661				100	%

 

Cost of sales

 

The following table presents cost of sales by categories for the six months ended March 31, 2023 and 2022, respectively. 

 

		For the Six Months Ended March 31,
		2023				2022
Product Category
Display modules		$	13,986,161			$	26,117,379
Polarizers			16,226,347				21,386,213
Research and development services			1,434,771				1,629,328
Others			1,955,845				2,327,669
Total		$	33,603,125			$	51,460,589
Gross Margin
Display modules			8	%			7	%
Polarizers			4	%			10	%
Research and development services			-				67	%
Others			10	%			32	%
Total Gross Margin			2	%			14	%

 

Cost of sales decreased by approximately $17.86 million or 35%, to approximately $33.60 million for the six months ended March 31, 2023 from approximately $51.46 million for the six months ended March 31, 2022. The decrease in cost of sales was in line with the decrease in our revenue.

 

Our gross profit decreased by approximately $7.94 million, or 92%, to approximately $0.69 million for the six months ended March 31, 2023 from approximately $8.63 million for the six months ended March 31, 2022. Overall gross profit margin was 2% for the six months ended March 31, 2023, as compared to 14% for the six months ended March 31, 2022. The decrease in gross profit is due to we reduced unit sales price in an effort to clear lower-end products inventory.

 

The decrease in gross profit margin of display modules and polarizers was primarily attributable from high costs relating to the procurement of raw materials and decline in the market demand, resulting in a decrease in our products’ unit sale price and sales volume.

 

The decrease in gross profit for R&D services was due to the progress under new R&D services contracts had not yet reached milestones and had not generated revenue.

 

Selling and marketing expenses

 

Selling and marketing expenses decreased by approximately $0.09 million, or 7%, to approximately $1.33 million for the six months ended March 31, 2023 as compared to approximately $1.42 million for the six months ended March 31, 2022. The decrease in selling and marketing expenses was mainly due to the reduction in market development activities.

 

10

 

 

General and administrative expenses

 

General and administrative (“G&A”) expenses decreased by approximately $0.38 million, or 11%, to approximately $3.18 million for the six months ended March 31, 2023 as compared to approximately $3.55 million for the six months ended March 31, 2022. The decrease in G&A expenses was due to the reduction of professional service fees upon the completion of our initial public offering.

 

Research and development expenses

 

Our research and development expenses decreased by approximately $0.6 million to $1.43 million for the six months ended March 31, 2023 from approximately $2.03 million for the same period in 2022. The decrease was mainly attributable to the outbreaks of the COVID-19 pandemic in the fourth quarter of 2022in mainland China. Such outbreaks caused some of our employees, including R&D personnel, to contract the virus and became unable to work. As a result, we decided to halt some of our R&D projects, leading to a reduction in our R&D expenses.

  

Other income (expenses)

 

Other income (expenses) was approximately $0.50 million for the six months ended March 31, 2023, which primarily consisted of other non-business income of $0.52 million and other non-business expenses of $0.02 million. Other non-business income was mainly government subsidiaries of $0.48 million.

 

Other income (expenses) was approximately $0.62 million for the six months ended March 31, 2022, which primarily consisted of other non-business income of $0.63 million and other non-business expenses of $0.01 million. Other non-business income was mainly government subsidiaries of $0.56 million.

 

Net income (loss)

 

As a result of the foregoing, we recorded net loss of $5.02 million and net income of $1.20 million for the six months ended March 31, 2023 and 2022, respectively.

 

Liquidity and Capital Resources

 

		For the Six Months Ended March 31,
		2024				2023
Net cash provided by (used in) operating activities		$	(3,893,451	)		$	254,142
Net cash used in investing activities			(263,379	)			(4,894,435	)
Net cash provided by financing activities			5,201,336				4,546,954
Effect of exchange rate changes on cash and cash equivalents			(151,218	)			(771,380	)
Net increase in cash and cash equivalents		$	893,288			$	(864,719	)
Cash and cash equivalents, beginning of period			1,157,424				3,806,920
Cash and cash equivalents, end of period		$	2,050,712			$	2,942,201

 

Operating Activities:

 

Net cash used in operating activities for the six months ended March 31, 2024 was approximately $3.89 million, which was primarily attributable to a net loss of approximately $4.65 million, adjusted for non-cash items of approximately $2.03 million and adjustments for changes in working capital of approximately $1.27 million. The adjustments for changes in working capital mainly included:

 

(i)

decrease in accounts receivable of approximately $1.65 million – our accounts receivable balance decreased significantly due to the collection of receivables from our major customers during the six months ended March 31, 2024;

 

11

 

 

(ii)

decrease in accounts payable of approximately $5.09 million mainly due to the payment in material purchase at the end of the previous reporting period;

  

(iii)

decrease in inventory of approximately $3.16 million due to the decrease in sales during the six months ended March 31, 2024;

 

(iv)

decrease in advance from customers of approximately $0.32 million due to the significant decrease in sales during the six months ended March 31, 2024;

 

(v)

increase in advance to suppliers of approximately $0.39 million due to the need to accommodate the increased purchase of raw materials for new orders.

 

Net cash provided by operating activities for the six months ended March 31, 2023 was approximately $0.25 million, which was primarily attributable to a net loss of approximately $5.02 million, adjusted for non-cash items of approximately $1.71 million and adjustments for changes in working capital of approximately $3.56 million. The adjustments for changes in working capital mainly included:

 

	(i)	decrease in accounts receivable of approximately $1.77 million – our accounts receivable balance decreased significantly due to the collection of receivables from our major customers during the six months ended March 31, 2023;
	(ii)	increase in inventory of approximately $0.43 million – our inventory increased significantly due to the higher quantity of display modules  in response to market changes.

  

(iii)

decrease in advances to suppliers of approximately $2.99 million – from time to time we are required to make advance payments to our suppliers for purchase of raw materials. Due to the decreased demand for raw materials resulted from the decreased sales and the effort to enhance the efficiency of our cash flows, we made less advance payments to our suppliers during the six months ended March 31, 2023;

 

(iv)

increase in accounts payable of approximately $0.45 million due to an increase in the purchase of raw materials; and

 

(v)

increase in advance from customers of approximately $0.22 million due to a change in our sales credit policy from offering a credit period of one to three months to requiring advance payments from certain new customers.

 

12

 

 

Investing Activities:

 

Net cash used in investing activities was approximately $0.26 million for the six months ended March 31, 2024, mainly attributable to the addition of fixed assets of $0.62 million for production needs during the period. Additionally, the addition of intangible assets of $0.10 million for production operations during the same period. Furthermore, there was a proceed of $0.46 million from the disposal of fixed assets and construction in progress.

 

Net cash used in investing activities was approximately $4.89 million for the six months ended March 31, 2023, mainly attributable to the addition of fixed assets of $4.93 million for production needs during the period. Additionally, the addition of intangible assets of $0.33 million for production operations during the same period. Furthermore, there was a proceed of $0.37 million from the disposal of fixed assets and construction in progress.

 

Financing Activities:

 

Net cash provided by financing activities was approximately $5.20 million for the six months ended March 31, 2024, primarily attributable to the proceeds from capital contribution of approximately $1.27 million, proceeds from private placement of approximately $0.98 million, proceeds from long-term liability of approximately $0.98 million, proceeds from bank borrowings of approximately $9.96 million, proceeds from third-party borrowings of approximately $1.52 million, and proceeds from related-party borrowings of approximately $5.47 million, and proceeds from convertible notes of $0.50 million, and offset by repayments to bank borrowings of approximately $8.99 million, repayments to third-party borrowings of approximately $2.01 million, and repayment to related party borrowings of approximately $4.48 million.

 

Net cash provided by financing activities was approximately $4.55 million for the six months ended March 31, 2023, primarily attributable to the proceeds from bank borrowings of approximately $13.64 million, proceeds from third-party borrowings of approximately $0.16 million, and proceeds from related-party borrowings was approximately $1.58 million, and offset by repayments to bank borrowings of approximately $10.62 million, repayments to third-party borrowings of approximately $0.22 million. 

 

Primary Sources of Liquidity

 

Our primary sources of liquidity consist of existing cash balances, cash flows from our operating activities and availability under our loan arrangements with banks and certain third-party individuals, and securities financing. Our ability to generate sufficient cash flows from our operating activities is primarily dependent on our sales of display modules and polarizers to our customers at margins sufficient to cover fixed and variable expenses.

 

As of March 31, 2024 and September 30, 2023, we had cash and cash equivalents of $2,050,712 and $1,157,424, respectively. We believe that our current cash, cash to be generated from our operations and access to funds under our loan arrangements with banks will be sufficient to meet our working capital needs for at least the next twelve months.

 

We finance our operations through short-term loans provided by a syndicate of banks in China, as more fully described in Note 13 Short-term and long-term Borrowings to our consolidated financial statements. As of March 31, 2024, we had a total of 19 outstanding short-term loans provided by banks, with an aggregate principal amount of RMB136,000,000, or approximately $18.84 million. As of September 30, 2023, we had a total of 16 outstanding short-term loans and 3 outstanding long-term loans provided by banks, with an aggregate principal amount of RMB129,000,000, or approximately $17.68 million. Each of these loans has a term of one to two years and, pursuant to our agreements with these banks, the majority all of the loans were renewed and funds were accessed immediately when the outstanding principal and interest are repaid in full. All of these loans have a fixed interest rate. The average interest rates were 4.04% and 4.03% for the outstanding bank loans as of March 31, 2024 and September 30, 2023, respectively.

 

13

 

 

We do not have any amounts committed to be provided by our related parties. After deducting the total expenses, we received net proceeds of approximately $12,409,022 from our initial public offering. Besides the indemnification escrow of $0.40 million, we used $2.5 million, $2.80 million, and $3.80 million on plant construction, research and development and working capital, respectively. The proceeds from our initial public offering replenished our working capital. However, we plan to expand our business by investing in new technologies either through acquisition or research and development and construction of facilities and purchase of equipment for production of new products. We will need to raise more capital through financings, including additional public or private offering and factoring arrangements, to implement these growth strategies and strengthen our position in the market.

 

We also finance our operations through securities financing. As of March 31, 2024, we issued a convertible note of $550,000 and completed a private placement of unregistered ordinary shares in an amount of $980,000. We also plan to raise proceeds through future financing activities. These measures ensure sufficient liquidity to support our operations, strategic initiatives, and growth plans.

 

Based on current operating plan, our management believes that the above-mentioned measures collectively will provide sufficient liquidity for us to meet our future liquidity and capital requirement for at least next six months from the date of the issuance of the unaudited financial statements included elsewhere in this current report.

 

Substantially all of our operations are conducted in China and a majority portion of our revenues, expense, cash and cash equivalents are denominated in RMB. RMB is subject to the exchange control regulation in China, and, as a result, we may have difficulty distributing any dividends outside of China due to PRC exchange control regulations that restrict our ability to convert RMB into U.S. dollars.

 

Capital Expenditures

 

Our capital expenditures consist primarily of expenditures for the purchase of fixed assets as a result of our business expansion in China mainland and overseas markets, and the construction and launch of, and the continuous investment in the manufacturing facility of polarizers. Our capital expenditures amounted to $0.26 million for the six months ended March 31, 2024, and $6.99 million for the fiscal year ended September 30, 2023.

 

Contractual Obligations

 

As of March 31, 2024, and September 30, 2023, we had significant contractual obligations and commercial commitments of $1.48 million and $2.85 million, respectively, excluding our bank borrowings as disclosed herein as of March 31, 2024 and September 30, 2023.

 

Off-balance Sheet Commitments and Arrangements  

 

There were no off-balance sheet arrangements for the six months ended March 31, 2024 and 2023 that have or that in the opinion of management are likely to have, a current or future material effect on our consolidated financial condition or results of operations. 

 

Critical Accounting Policies   

 

We prepare our consolidated financial statements in conformity with accounting principles generally accepted by the U.S. GAAP, which requires us to make judgments, estimates and assumptions that affect our reported amount of assets, liabilities, revenue, costs and expenses, and any related disclosures. Although there were no material changes made to the accounting estimates and assumptions in the past three years, we continually evaluate these estimates and assumptions based on the most recently available information, our own historical experience and various other assumptions that we believe to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from our expectations as a result of changes in our estimates. 

  

We believe that the following accounting policies involve a higher degree of judgment and complexity in their application and require us to make significant accounting estimates. Accordingly, these are the policies we believe are the most critical to understanding and evaluating our consolidated financial condition and results of operations.

 

14

 

 

Use of Estimates 

 

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Such estimates include, but are not limited to, allowances for doubtful accounts, inventory valuation, useful lives of property, plant and equipment, intangible assets, and income taxes related to realization of deferred tax assets and uncertain tax position. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

 

Cash and cash equivalents primarily consist of cash and deposits with financial institutions which are unrestricted as to withdrawal and use. Cash equivalents consist of highly liquid investments that are readily convertible to cash generally with original maturities of three months or less when purchased.

 

Value-added Tax (“VAT”)

 

Sales revenue represents the invoiced value of goods, net of VAT. All of our products sold in the PRC are subject to a VAT on the gross sales price. We are subject to a VAT rate of 13% effective on April 1, 2019. The VAT may be offset by VAT paid by us on raw materials and other materials included in the cost of producing or acquiring our finished products.

 

Revenue Recognition

 

We generate our revenues mainly from sales of display modules and polarizers to third-party customers, who are mainly display manufacturers. We follow Financial Accounting Standards Board (FASB) ASC 606 and accounting standards updates (“ASU”) 2014-09 for revenue recognition. On October 1, 2017, we have early adopted ASU 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. We consider revenue realized or realizable and earned when all the five following criteria are met: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

 

We consider customer purchase orders, which in some cases are governed by master sales agreements, to be the contracts with a customer. As part of our consideration of the contract, we evaluate certain factors including the customer’s ability to pay (or credit risk). For each contract, we consider the promise to transfer products, each of which is distinct, to be the identified performance obligations.

 

In determining the transaction price, we evaluate whether the price is subject to refund or adjustment to determine the net consideration to which we expect to be entitled. We offer customers warranty of six months to five years for defective products that is beyond contemplated defective rate mutually agreed in contract with customer. We analyzed historical sales returns and concluded that they have been immaterial.

   

Revenues are reported net of all value added taxes. As our standard payment terms are less than one year, we have elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. We allocate the transaction price to each distinct product based on their relative standalone selling price.

 

Revenue is recognized when control of the product is transferred to the customer (i.e., when our performance obligation is satisfied at a point in time), which typically occurs at delivery. For international sales, we sell our products primarily under free onboard (“FOB”) shipping point term. For sales under FOB shipping point term, we recognize revenues when products are delivered from us to the designated shipping point. Prices are determined based on negotiations with our customers and are not subject to adjustment. As a result, we expect returns to be minimal.

 

15

 

 

Research and Development Costs

 

Research and development activities are directed toward the development of new products as well as improvements in existing processes. These costs, which primarily include salaries, contract services and supplies, are expensed as incurred.

 

Inventories

 

Inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the weighted-average method. The Company records adjustments to inventory for excess quantities, obsolescence or impairment when appropriate to reflect inventory at net realizable value. These adjustments are based upon a combination of factors including current sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory.

 

Impact of Inflation

 

Inflationary factors such as increases in product costs and indirect expenses may adversely affect our operational performance. While we currently believe that inflation has not had a significant impact on our financial position or operational results, higher inflation rates in the future, coupled with stagnant service prices, could challenge our ability to maintain current gross profit levels and the proportion of selling, general, and administrative expenses relative to net sales. Our operations are based in China, where inflation rates have remained relatively stable. Therefore, we consider the impact of inflation on the company to be minor.

 

Holding Company Structure

 

We are a holding company with no material operations of our own. We conduct our operations primarily through Jiangsu Austin and its subsidiaries in China. As a result, our ability to pay dividends and to finance any debt we may incur depends upon dividends paid by our subsidiaries. Our PRC subsidiaries may purchase foreign exchange from relevant banks and make distributions to offshore companies after completing relevant foreign exchange registration with the SAFE. Our offshore companies may inject capital into or provide loans to our PRC subsidiaries through capital contributions or foreign debts, subject to applicable PRC regulations. If our subsidiaries or any newly formed subsidiaries incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. In addition, our PRC subsidiaries are permitted to pay dividends to us only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations.

 

Under PRC law, each of our PRC subsidiaries in China is required to set aside at least 10% of its after-tax profits each year, if any, to fund a statutory reserve until such reserve reached 50% of its registered capital, after which any mandatory appropriation stops. Although the statutory reserves can be used, among other ways, to increase the registered capital and eliminate future losses in excess of retained earnings of the respective companies, the reserve funds are not distributable as cash dividends except in the event of liquidation of the companies. The reserved amounts as determined pursuant to PRC statutory laws totaled $1,497,772, and $1,497,771 as of March 31, 2024 and September 30, 2023, respectively.

 

Research and Development, Patents and Licenses, etc.

 

The display panel industry is subject to rapid technological changes. We believe that effective research and development is essential to maintaining our competitive position in the market.

 

We conduct research and development primarily internally and through collaborations with various universities. We spend approximately 4.4% of revenue each year on our research and development activities. We have developed a research and development management system that encourages our engineers to make new project proposals and implement strict evaluation standards for each stage of a project development. New projects are selected primarily based on their feasibility and consistency with our overall research and development strategy, and are reviewed on a quarterly basis. As of March 31, 2024 our research and development department had a total of 60 employees, of which 23% have a master’s degree or higher.

 

The following are examples of products and technologies that have been developed through our research and development activities in recent years:  

 

To strengthen our technology leadership and improve our competitiveness, we have focused on diversifying the use of our products to new industries, such as automotive, outdoor media, public education, and IoT terminals. In our research and development, we have aimed at upgrading the display technology of our products to cater for different application scenarios.

 

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We have also expanded our research and development efforts to upstream raw materials. Through our cooperation with Inabata & Co., Ltd. in Japan, our polarizer manufacturing facilities in Chengdu started production in January 2019. We worked with Inabata & Co., Ltd. to jointly develop new polarizers to meet the technical specifications of customers in China. We will continue to invest in the research and development of polarizers for LCD and OLED display panels.

 

To enhance competitiveness in the end product market, our research and development team has been developing innovative products with a unique market positioning. We have started to independently develop new technologies, such as face recognition, simultaneous language translation, wireless charging, and synchronous projection, which are being applied to our own products, such as the all-in-one intelligent conference system and wireless photo transmission system. Additionally, in 2023, to complement the versatility and convenience of our Pintura product, we established a specialized Pintura R&D team, dedicated to the development of a custom app tailored specifically for enhancing the Pintura user experience. We launched a crowdfunding campaign for Pintura wireless photo transmission system products in the United States in March 2024, and raised nearly $100,000 on a crowdfunding platform by June 2024. In addition, we have introduced Pintura wireless photo transmission system products in China since mid-February 2024 through different sales channels, including traditional e-commerce platforms, new media business, and domestic offline stores. We plan to expand Pintura wireless photo transmission system products’ presence on more e-commerce platforms and enter European and other international markets.

 

Furthermore, with the expansion of the use of display panels, an increasing number of customers who are unable to independently develop their own control systems, are searching for one-stop display, control and transmission solutions that meet their needs. Since 2017, we have strengthened our technological capabilities to offer client-centric, one-stop solutions and services that cover product design, research and development as well as production and sales.

 

Intellectual Property

 

We currently hold a total of 104 PRC patents including patents for TFT-LCD and OLED display module manufacturing processes, display module product structures and applications, TFT-LCD and OLED polarizer manufacturing processes and applications. These patents will expire at various dates upon the expiration of their respective terms ranging from 2024 to 2041. We also have 4 pending patent applications in China, including one invention patent. In addition, we hold 25 software copyrights relating to our module manufacturing process control and display control and five trademarks for our brand name “Ostin”, “Zhipingtai.”, “OSPERI”, “Pintura” and “Xiaoxianping”.   

 

As part of our ongoing efforts to prevent infringements on our intellectual property rights and to keep abreast of critical technology developments by our competitors, we closely monitor patent applications in China, Korea, Japan and the United States. We also filed patent applications in the United States, where appropriate, to protect our proprietary technologies. At present, we have two pending patent application in the United States.

 

We enter into agreements with our employees and consultants who may have access to our proprietary information upon the commencement of an employment or consulting relationship. These agreements generally provide that all inventions, ideas, discoveries, improvements and copyrightable material made or conceived by the individual arising out of the employment or consulting relationship and all confidential information developed or made known to the individual during the term of the relationship are our exclusive property.   

  

Trend Information

 

Following the COVID-19 pandemic’s onset in 2019, which led to a significant surge in customer demand, peaking in 2021 in particular. During the six months ended March 31, 2024, the adverse effects of the COVID-19 pandemic on the business sector that we operate in persists, due to the negative impact on both international and domestic economies, as well as various geopolitical factors. Although the Chinese government has now lifted the restrictions and we have resumed normal business operations, the COVID-19 pandemic still has negatively impacted, and may continue to negatively impact, the global economy and disrupt normal business activity, which may have an adverse effect on our results of operations. Concurrently, our costs of sales, production, and raw materials sharply decreased in response to the reduced market demand. By aligning our production plans with sales orders, we successfully circumvented the issues of overstocking that plagued the broader market.  

Critical Accounting Estimates

 

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Such estimates include, but are not limited to, allowances for doubtful accounts, inventory valuation, useful lives of property, plant and equipment, intangible assets, and income taxes related to realization of deferred tax assets and uncertain tax position. Actual results could differ from those estimates.

    

 

17

 

 

Exhibit 99.2

 

 

 

 

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

 

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

FOR THE SIX MONTHS ENDED MARCH 31, 2024 AND 2023

(UNAUDITED)

 

 

 

 

 

 

 

F-1

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

 

INDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

 

Condensed Consolidated Financial Statements    

 

Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and September 30, 2023		F-3
Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the Six months Ended March 31, 2024 and 2023 (Unaudited)		F-4
Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Six Months ended March 31, 2024 and 2023 (Unaudited)		F-5
Condensed Consolidated Statements of Cash Flows for the Six Months ended March 31, 2024 and 2023 (Unaudited)		F-6
Notes to Condensed Consolidated Interim Financial Statements		F-7 – F-37

 

F-2

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2024 AND SEPTEMBER 30, 2023

(IN U.S. DOLLARS, EXCEPT FOR NUMBER OF SHARES DATA)

 

		March 31, 2024				September 30, 2023
ASSETS
Current Assets
Cash and cash equivalents		$	1,744,631			$	854,518
Restricted cash			306,081				302,906
Accounts receivable, net of allowance for credit losses of $82,032 and $46,722, respectively			4,807,938				6,484,945
Inventories, net			11,122,152				14,418,925
Advances to suppliers, net			1,871,457				1,509,477
Tax receivables			614,227				646,565
Due from related parties			66,206				-
Prepaid expenses and other receivables			464,637				220,346
Total Current Assets			20,997,329				24,437,682
Property, plant and equipment, net			23,733,821				25,056,027
Land use rights, net			1,452,215				1,481,595
Intangible assets, net			4,694,198				4,978,082
Long-term investment			207,748				205,592
Right-of-use lease assets			87,986				141,772
Other long-term receivables			267,823				248,011
TOTAL ASSETS		$	51,441,120			$	56,548,761
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable		$	5,310,619			$	10,798,453
Convertible notes			511,030				-
Accrued expenses and other current liabilities			2,019,855				2,043,830
Advances from customers			339,343				648,359
Due to related parties			4,223,696				3,005,577
Current portion of long-term payable			532,426				-
Short-term borrowings			26,100,081				23,915,792
Operating lease liabilities – current			-				104,000
Deferred tax liability			15,558				15,396
Total Current Liabilities			39,052,608				40,531,407
Operating lease liabilities – non-current			-				12,895
Long-term borrowings			-				1,644,737
Long-term payables			725,175				271,590
TOTAL LIABILITIES		$	39,777,783			$	42,460,629
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Class A ordinary share, $0.0001 par value, 4,991,000,000 shares authorized, 14,806,250 and 14,006,250 shares issued and outstanding as of March 31, 2024 and September 30, 2023			1,481				1,401
Class B ordinary share, $0.0001 par value, 8,000,000   shares authorized, 2,000,000 and 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023			200				-
Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023			-				-
Additional paid-in capital			24,235,939				23,256,219
Statutory reserves			1,497,772				1,497,771
Accumulated deficit			(13,107,089	)			(8,465,867	)
Accumulated other comprehensive loss			(2,343,787	)			(2,331,612	)
Total Equity Attributable to Ostin Technology Group Co., Ltd.			10,284,516				13,957,912
Equity attributable to non-controlling interests			1,378,821				130,220
Total Shareholders’ Equity			11,663,337				14,088,132
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	51,441,120			$	56,548,761

 

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

 

F-3

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND
COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED MARCH 31, 2024 AND 2023

(IN U.S. DOLLARS, EXCEPT SHARES DATA)

 

		For the six months ended
		March 31,
		2024				2023
Sales		$	14,973,048			$	34,295,114
Cost of sales			(14,082,663	)			(33,603,125	)
Gross profit			890,385				691,989
Operating expenses:
Selling and marketing expenses			(897,059	)			(1,325,919	)
General and administrative expenses			(2,900,993	)			(3,175,731	)
Research and development costs			(965,157	)			(1,430,401	)
Gain from disposal of property, plant and equipment			81,036				160,288
Total operating expenses			(4,682,173	)			(5,771,763	)
Operating income (loss)			(3,791,788	)			(5,079,774	)
Other income (expenses):
Interest income (expense), net			(1,102,464	)			(544,923	)
Other income (expenses), net			244,873				499,982
Total other income (expenses), net			(857,591	)			(44,941	)
Loss before income taxes			(4,649,379	)			(5,124,715	)
Income tax benefit / (provision)			-				108,189
Net loss			(4,649,379	)			(5,016,526	)
Net loss attributable to non-controlling interests			(8,158	)			(27,324	)
Net loss attributable to Ostin Technology Group Co., Ltd.			(4,641,221	)			(4,989,202	)
Net loss			(4,649,379	)			(5,016,526	)
Other comprehensive income (loss):
Foreign currency translation adjustment			56,198				(422,092	)
Comprehensive loss			(4,593,181	)			(5,438,618	)
Comprehensive (loss) income attributable to non-controlling interests			60,215				(50,125	)
Comprehensive loss attributable to Ostin Technology Group Co., Ltd.			(4,653,396	)			(5,388,493	)
Loss per share
Basic and diluted		$	(0.29	)		$	(0.36	)
Weighted average number of ordinary shares outstanding
Basic and diluted			15,844,501				14,006,250

 

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

 

F-4

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTHS ENDED MARCH 31, 2024 AND SEPTEMBER 30, 2023

(IN U.S. DOLLARS, EXCEPT SHARES DATA)

 

		Class A Shares				Amount				Class B Shares				Amoun				Additional paid-in capital				Statutory reserves				Accumulated deficit				Accumulated other comprehensive income (loss)				Non- controlling interests				Total shareholders’ equity
Balance at September 30, 2023			14,006,250			$	1,401				-			$	-			$	23,256,219			$	1,497,771			$	(8,465,867	)		$	(2,331,612	)		$	130,220			$	14,088,132
Private placement			2800,000				280												979,720																				980,000
Private placement											2,000,000				200																								200
Shares repurchase			(2,000,000	)			(200	)																															(200	)
Capital contribution by Non- controlling interests																																			1,188,386				1,188,386
Foreign currency translation loss			-				-												-				-				-				(12,175	)			68,373				56,198
Net loss			-				-												-				1				(4,641,222	)			-				(8,158	)			(4,649,379	)
Balance at March 31, 2024			14,806,250			$	1,481				2,000,000			$	200			$	24,235,939			$	1,497,772			$	(13,107,089	)		$	(2,343,787	)		$	1,378,821			$	11,663,337

 

OSTIN TECHNOLOGY GROUP CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTHS ENDED MARCH 31, 2023 AND SEPTEMBER 30, 2022

(IN U.S. DOLLARS, EXCEPT SHARES DATA)

 

		Shares				Amount				Additional paid-in capital				Statutory reserves				Retained Earnings/ (Accumulated deficit)				Accumulated other comprehensive income (loss)				Non- controlling interests				Total shareholders’ equity
Balance at September 30, 2022			14,006,250			$	1,401			$	23,256,219			$	1,496,314			$	2,484,385			$	(1,902,108	)		$	289,000			$	25,625,211
Foreign currency translation loss			-				-				-				-				-				(399,291	)			(22,801	)			(422,092	)
Net loss			-				-				-				1,223				(4,990,425	)			-				(27,324	)			(5,016,526	)
Balance at March 31, 2023			14,006,250			$	1,401			$	23,256,219			$	1,497,537			$	(2,506,040	)		$	(2,301,399	)		$	238,875			$	20,186,593

 

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

 

F-5

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED MARCH 31, 2024 AND 2023

(IN U.S. DOLLARS)

 

		2024				2023
Cash Flows from Operating Activities:
Net loss		$	(4,649,379	)		$	(5,016,526	)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation expense			1,192,368				1,177,801
Amortization expense of land use rights			45,000				44,917
Amortization expense of intangible assets			440,000				213,300
Amortization expense of right-of-use assets			55,380				-
Bad debt expense for accounts receivable			35,310				53,535
Bad debt expense for advances to suppliers			47,813				150,547
Inventory provision			293,774				224,461
Deferred tax assets, net			-				7,534
Gain from disposal of property, plant and equipment			(81,036	)			(160,288	)
Imputed Interest
Changes in operating assets and liabilities:
Accounts receivable			1,650,754				1,766,078
Notes receivable			-				(2,922	)
Inventories			3,160,822				(428,134	)
Advances to suppliers			(394,634	)			2,992,304
Prepaid expenses and other receivables			(118,225	)			(390,761	)
Other long-term receivables			(50,509	)			106,439
Accounts payable			(5,090,871	)			452,977
Accrued expenses and other current liabilities			(101,528	)			(481,177	)
Advances from customers			(316,423	)			221,124
Income tax payable			106,281				(669,986	)
Operating lease liability			(118,348	)			-
Other long-term payables			-				(7,081	)
Net cash provided by (used in) operating activities			(3,893,451	)			254,142
Cash Flows from Investing Activities:
Purchases of property, plant and equipment			(615,635	)			(4,934,633	)
Proceeds from disposal of property, plant and equipment			455,532				366,216
Purchases of intangible assets			(103,276	)			(326,018	)
Net cash used in investing activities			(263,379	)			(4,894,435	)
Cash Flows from Financing Activities:
Proceeds from capital contribution			1,275,570
Proceeds from private placement			980,000				-
Proceeds in 2024 from the current portion of Long-term payable			532,426				-
Proceeds from long-term payable liability			450,737				286,694
Proceeds from short-term bank borrowings			9,963,366				13,354,166
Repayments on short-term bank borrowings			(8,992,007	)			(10,620,547	)
Proceeds from short-term borrowings from third party individuals			1,518,095				157,681
Repayments on short-term borrowings from third party individuals			(2,014,876	)			(215,020	)
Proceeds from related parties			5,466,903				1,583,980
Repayments on related parties			(4,478,878	)			-
Proceeds from Convertible notes			500,000				-
Net cash provided by financing activities			5,201,336				4,546,954
Effect of changes in currency exchange rates			(151,218	)			(771,380	)
Net (decrease) increase in cash and cash equivalents			893,288				(864,719	)
Cash, cash equivalents and restricted cash at the beginning of period			1,157,424				3,806,920
Cash and cash equivalents and restricted cash at the end of period		$	2,050,712			$	2,942,201
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets
Cash and cash equivalents		$	1,744,631			$	2,620,400
Restricted cash			306,081				321,801
Total cash, cash equivalents and restricted cash		$	2,050,712			$	2,942,201
Supplemental disclosures of cash flows information:
Cash paid for income taxes		$	613			$	100,880
Cash paid for interest		$	1,560,507			$	566,254

 

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

 

F-6

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

 

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS

 

Ostin Technology Group Co., Ltd. (“Ostin”) is a holding company incorporated on September 26, 2019 under the laws of the Cayman Islands. Ostin and its subsidiaries are collectively referred to as the “Company”. The Company engages in the business of designing, developing and manufacturing TFT-LCD modules and polarizers in a wide range of sizes and customized size according to the specifications of the customers utilizing automated production technique. The company currently operates one headquarter and three manufacturing facilities in China with an aggregate of 54,759 square meters – one factory is located in Jiangsu Province for the manufacture of display modules, one facility is in Sichuan Province for the manufacture of polarizers. The third manufacturing facilities is in Luzhou, Sichuan Province, for manufacture of display modules primarily to be used in devices in the education sector and commenced production in August 2020. The Company’s principal executive offices are located in Jiangsu Province, the People’s Republic of China (the “PRC” or “China”). 

 

Reorganization 

 

A reorganization of the Company’s legal structure was completed in June 2020. The reorganization involved (i) the incorporation of Ostin, a Cayman Islands company; Ostin Technology Holdings Limited (“Ostin BVI”), a British Virgin Islands company and a wholly owned subsidiary of Ostin; Ostin Technology Limited (“Ostin HK”), a Hong Kong company and a wholly owned subsidiary of Ostin BVI; and Nanjing Aosa Technology Development Co., Ltd. (“Nanjing Aosa”), a PRC limited liability company and a wholly owned subsidiary of Ostin HK; and (ii) the entry into a series of contractual arrangements (the “VIE Agreements”) by and between Nanjing Aosa and certain shareholders of Jiangsu Austin Optronics Technology Co., Ltd. (“Jiangsu Austin”) which was a PRC company limited by shares formed in December 2010 and has been the primary operating company of the Company in China. Ostin, Ostin BVI, Ostin HK, and Nanjing Aosa are all holding companies and have not commenced operations.

 

Prior to the reorganization, Mr. Tao Ling, Mr. Xiaohong Yin and 54 other shareholders (collectively and excluding Suhong Yuanda (as defined below), the “VIE Shareholders”) collectively owned 87.88% of the outstanding shares of Jiangsu Austin and Mr. Tao Ling, through Beijing Suhongyuanda Science and Technology Co., Ltd. (“Suhong Yuanda”) of which he was the sole shareholder, controlled 9.97% of the outstanding shares of Jiangsu Austin. On June 29, 2020, Mr. Tao Ling transferred his 100% equity interests in Suhong Yuanda to Nanjing Aosa. In June 2020, Nanjing Aosa entered into the VIE Agreements with the VIE Shareholders. After the reorganization, Ostin, through its subsidiary and the VIE arrangement, controlled an aggregate of 97.85% of the outstanding shares of Jiangsu Austin. The VIE Shareholders collectively owned 100% of the outstanding ordinary shares of Ostin, of which 39.99% and 9.51%, respectively, was owned by Mr. Tao Ling and Mr. Xiaohong Yin through their wholly owned holding companies.

 

Termination of the VIE Arrangements

 

In August 2021, shareholders of Jiangsu Austin entered into shares transfer agreements with the Company. Pursuant to the agreement, they agreed to transfer an aggregate of 39.97% of shares of Jiangsu Austin, which resulted in Nanjing Aosa, the Company’s WFOE, holding an aggregate of 97.85% of the shares of Jiangsu Austin following the completion of the share transfers. In February 2022, the Company fully terminated the VIE Arrangements and completed the reorganization of its corporate structure. As a result, the Company holds 97.85% of the issued and outstanding shares of Jiangsu Austin. Termination of the VIE agreement does not have impact on the Company’s consolidated financial position, results of operations and cash flows.

 

During the years presented in these consolidated financial statements, the control of the entities has never changed (always under the control of the Company). Accordingly, the combination has been treated as a corporate restructuring (“Reorganization”) of entities under common control and thus the current capital structure has been retroactively presented in prior periods as if such structure existed at that time and in accordance with ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which such entities were under common control. The consolidation of Ostin and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements.

 

F-7

 

 

The following diagram illustrates the Company’s corporate structure, including its subsidiaries as of the six months ended March 31, 2024.

 

 

F-8

 

 

The condensed consolidated financial statements included herein are unaudited. The balance sheet at September 30, 2023 has been derived from the audited consolidated financial statements as of that date. In the opinion of management, the unaudited condensed consolidated interim financial statements include all normal recurring adjustments necessary for a fair statement of the financial position as of March 31, 2024 and the results of operations and comprehensive income (loss) for the six months ended March 31, 2024 and 2023 and cash flows for the six months ended March 31, 2024 and 2023. Certain information and footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The results of operations and comprehensive income (loss) for the six months ended March 31, 2024 and cash flows for the six months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year. The condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F for the year ended September 30, 2023.

 

On November 20, 2023, Beijing Suhongyuanda Technology Co., Ltd. entered into an equity transfer agreement with Shenzhen Ou Xun Electronics Co., Ltd. (“Ou Xun”), under which Suhong Yuanda agreed to transfer 500,000 shares of Jiangsu Austin Optoelectronics Technology Co., Ltd. to Ou Xun for a total consideration of RMB1.3 million (RMB2.6 per share). The agreement stipulates that following the equity transfer, Jiangsu Austin's distributable profits will be allocated in proportion to the shareholding. Ou Xun is required to pay the full amount by June 30, 2024; failure to do so will result in the return of 1% of the shares, with Ou Xun also required to assist in completing the necessary procedures. As of June 30, 2024, Ou Xun had not made the required payment, triggering the share return and cooperation provisions. Consequently, the Company believes Ou Xun is in breach of contract, rendering the contract legally unenforceable and thus terminated. As of August 23, 2024, Jiangsu Austin has not yet received the shares back from Shenzhen Ou Xun Electronics Co., Ltd., but expects to complete this process in the near future.

 

On January 9, 2024, Sichuan Ausheet Electronic Materials Co., Ltd. (“Sichuan Ausheet”) entered into an equity transfer agreement with Nanjing Aoni Investment Management Partnership (Limited Partnership), a related party (“Nanjing Aoni”). Pursuant to the equity transfer agreement, Sichuan Ausheet transferred RMB10 million equity of Sichuan Auniuxin Materials Co., Ltd. (“Auniuxin”) to Nanjing Aoni. Consequently, Sichuan Ausheet’s share of ownership in Sichuan Auniuxin Materials Co., Ltd. dropped to 28.57% and the related party, Nanjing Aoni, owns the remaining 71.43%. As of March 31, 2024, Nanjing Aoni has funded RMB8.3 million into Auniuxin. Despite the change in ownership percentage, Sichuan Ausheet still maintained full control over Auniuxin’s operation. Therefore, Auniuxin continues to be included in the consolidated financial statements of the group. Mr. Ling Tao, CEO, the ultimate controller of Ostin, is also a controlling shareholder with 68.27% ownership of Nanjing Aoni, who now owns 71.43% of Auniuxin.

 

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES

 

Going Concern

 

As of March 31, 2024, the Company had current assets of $20,997,329 and current liabilities of $39,052,608. This means that the Company’s current liabilities exceeded its current assets, amounting to $18,055,279. Additionally, the Company incurred a net loss of $4,649,379 for the half year, resulting in an accumulated deficit of $ 13,107,089. This condition raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company may be unable to realize its assets and discharge its liabilities in normal course of business.

 

The Company meets its day-to-day working capital requirements through its bank facilities. Most of the bank borrowings as of March 31, 2024 that are repayable within the next 12 months are subject to renewal and the management is confident that these borrowings can be renewed upon expiration based on the Company’s past experience and credit history.

 

In order to strengthen the Company’s liquidity in the foreseeable future, the Company has taken the following measures: (i) Negotiating with banks in advance for renewal and obtaining new banking facilities; (ii) Diversifying financing channels includes but is not limited to methods such as equity financing, sale and leaseback; and (iii) Implementing various strategies to enhance sales and profitability.

 

The management has a reasonable expectation that the Company has adequate resources to continue in operational existence for 12 months from the filing date.

 

Basis of presentation and principles of consolidation

 

The accompanying condensed consolidated interim financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United Stated of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated upon consolidation. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair presentation of the Company’s financial position, its results of operations and its cash flows, as applicable, have been made. Interim results are not necessarily indicative of results to be expected for the full year. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto as of and for the years ended September 30, 2023 and 2022.

 

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

F-9

 

 

Use of estimates

 

The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Such estimates include, but are not limited to, allowances for doubtful accounts, inventory valuation, useful lives of property, plant and equipment, intangible assets, and income taxes related to realization of deferred tax assets and uncertain tax position. Actual results could differ from those estimates.

 

Foreign currency translation

 

The financial records of the Company’s subsidiaries in China are maintained in their local currencies which are Chinese Yuan (“RMB”). Monetary assets and liabilities denominated in currencies other than their local currencies are translated into local currencies at the rates of exchange in effect at the consolidated balance sheet dates. Transactions denominated in currencies other than their local currencies during the year are converted into local currencies at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in other income, net in the consolidated statements of income and comprehensive income.

 

The Company and its subsidiaries in British Virgin Islands and Hong Kong maintained their financial record using the United States dollar (“USD”) as the functional currency, while the subsidiaries of the Company in mainland China maintained their financial records using RMB as the functional currency. The reporting currency of the Company is USD. When translating local financial reports of the Company’s subsidiaries into USD, assets and liabilities are translated at the exchange rates at the consolidated balance sheet date, equity accounts are translated at historical exchange rates and revenue, expenses, gains and losses are translated at the average rate for the period. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the consolidated statements of income and comprehensive income.

 

The relevant exchange rates are listed below:

 

		March 31, 2024				September 30, 2023				March 31, 2023
Period ended RMB: USD exchange rate			7.2203				7.2960				6.8676
Period average RMB: USD exchange rate			7.2064				7.0533				6.9761

 

Cash and cash equivalents

 

The Company considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. The Company maintains most of the bank accounts in the PRC. Cash balances in bank accounts in PRC are not insured by the Federal Deposit Insurance Corporation or other programs.

 

Restricted cash

 

Restricted cash is certain portion of bank deposit used for pledging or guarantee purpose.

 

Accounts receivable and allowance for credit losses Accounts receivable is recognized and carried at original invoiced amount less an estimated allowance for credit losses. The Company usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Company establishes a provision for doubtful receivables when there is objective evidence that the Company may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on an aging analysis basis. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for credit losses after management has determined that the likelihood of collection is not probable.

 

Inventories

 

Inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the weighted-average method. The Company records adjustments to inventory for excess quantities, obsolescence or impairment when appropriate to reflect inventory at net realizable value. These adjustments are based upon a combination of factors including current sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory.

 

F-10

 

 

Advances to suppliers

 

Advances to suppliers refer to advances for purchase of materials or other services, which are applied against accounts payable when the materials or services are received.

 

The Company reviews a supplier’s credit history and background information before advancing a payment. If the financial condition of its suppliers were to deteriorate, resulting in an impairment of their ability to deliver goods or provide services, the Company would write off such amount in the period when it is considered as impaired. The allowance for advances to suppliers recognized for the six months ended March 31, 2024 and 2023 were $47,813 and $150,547, respectively.

 

Advances from customers

 

Advances from customers refer to advances received from customers regarding product sales, for which revenue is recognized upon delivery.

 

Property, plant and equipment, net

 

Property, plant, and equipment are recorded at cost less accumulated depreciation. Depreciation commences upon placing the asset in usage and is recognized on a straight-line basis over the estimated useful lives of the assets with 5% of residual value, as follows:

 

		Useful Lives
Buildings		20 years
Machinery and equipment		5-10 years
Transportation vehicles		4-5 years
Office equipment		3-5 years
Electronic equipment		3 years

 

Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of income and other comprehensive income in other income or expenses.

 

Leasehold Improvement

 

Leasehold improvement projects refer to the renovation, refurbishment, or decoration of leased premises or assets with the aim of enhancing efficiency and value. Leasehold improvement assets are initially measured at cost upon acquisition and are amortized over their estimated useful lives, typically the lease term. Amortization expense is recognized using the straight-line method.

 

Construction in progress

 

Construction in progress refers to ongoing or partially completed projects that the company is engaged in, including land development, new building construction, remodeling and renovation projects, among others. Construction in progress is measured using the cost model. The cost of construction in progress includes direct labor costs, material costs, subcontractor expenses, and interest expenses directly related to the project. The cost model is based on actual incurred expenses and is continuously updated.

 

Upon completion of the construction in progress, the company will apply the applicable accounting standards and policies to amortize the asset based on its estimated useful life and estimated fair value. The method of amortization will be determined based on the nature of the project and the company’s accounting policies.

 

F-11

 

 

Land use rights, net

 

Under the PRC law, all land in the PRC is owned by the government and cannot be sold to an individual or company. The government grants individuals and companies the right to use parcels of land for specified periods of time. These land use rights are sometimes referred to informally as “ownership.” Land use rights are stated at cost less accumulated amortization.

 

		Rental period
Land use rights		20-50 years

 

Intangible assets, net

 

Intangible assets consist of software and patent purchased from other companies and capitalized software developed by the Company, which are recorded at cost less accumulated amortization. Intangible assets are amortized using the straight-line method with the following estimated useful lives:

 

		Useful lives
Software		3 years
Patent		10 years

 

Capitalized software represents software that is developed or purchased by an entity that will be sold, leased, or marketed as a stand-alone product as well as a software that will be sold as part of another product or process. All costs of developing software prior to establishing its technological feasibility are research and development costs and are expensed as incurred. Technological feasibility is achieved when an entity has completed all planning, designing, coding, and testing activities necessary to establish that the software product can be produced to meet its design specifications, including functions, features, and technical performance requirements. As described in ASC 985-20-25-1, this can be achieved through the use of either (1) a detail program design, or (2) the combination of a product design and working model, which have been confirmed for completeness by testing. Costs of developing software after establishing technological feasibility are recorded capitalized software.

 

The capitalized costs of developing software that will be sold, leased, or marketed will be amortized separately for each software product. An entity will begin amortizing the capitalized costs of the software when the product first becomes available for general release to customers.

 

For the six months ended March 31, 2024, the Company purchased intangible assets from third parties.

 

Lease

 

From the Perspective as a Lessee

 

The Company has three operating leases for manufacturing facilities and offices with no option to renew and the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. When each lease begins, the management evaluates factors such as the lease term, rental payment method, and transfer of control to determine whether it should be classified as an operating lease or finance lease. Effective October 1, 2019, the Company adopted the new lease accounting standard using a modified retrospective transition method which allowed the Company not to recast comparative periods presented in its consolidated financial statements. In addition, the Company elected the package of practical expedients, which allowed the Company to not reassess whether any existing contracts contain a lease, to not reassess historical lease classification as operating or finance leases, and to not reassess initial direct costs. The Company has not elected the practical expedient to use hindsight to determine the lease term for its leases at transition. The Company combines the lease and non-lease components in determining the ROU assets and related lease obligation. Adoption of this standard resulted in the recording of operating lease ROU assets and corresponding operating lease liabilities as disclosed in financial statements. For related leases before the adoption date October 1, 2019, ROU assets and related lease obligations are recognized at adoption date based on the present value of remaining lease payments over the lease term. For related leases after the adoption date, ROU assets and related lease obligations are recognized at commencement date based on the present value of remaining lease payments over the lease term.

 

F-12

 

 

From the Perspective as a Lessor

 

The Company leased a building to a third party for a period of 3 years starting in June 2021, without a purchase option at the end of the lease term. The Company classified this lease as an operating lease. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessee with the right to use the building. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease.

 

The Company also leased some equipment to third parties, without a purchase option at the end of the lease term, while lease term of those equipment leases is mostly from 3 to 6 months. The Company classified the leases as operating leases. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessees with the right to use the equipment. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease.

 

Long-term investment

 

Company’s long-term investment consists of equity investments without a readily determinable fair value.  Under ASC Topic 321, Accounting for Equity Securities and Equity Investment, a measurement alternative is allowed for equity securities without a readily determinable fair value. Under the measurement alternative, the investment is measured at cost minus impairment, if any, plus or minus changes results from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.

 

Convertible notes

 

In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging -Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. For share-settled convertible debt and convertible preferred stock, the if-converted method is typically used to account for diluted earnings per share. For public companies, the guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The company adopted this standard beginning October 1, 2023. Following the adoption of ASU 2020-06 Convertible notes are recorded and disclosed as convertible notes payable, net of unamortized discount.

 

Long-term payable

 

During the six months ended March 31, 2024, the Company has two transactions with two third-party for manufacturing facilities where the Company sold certain machinery located in China and subsequently leased the machinery back for 24 months. In these arrangements, the Company has no obligation to transferring the underlying asset to an unaffiliated third party or has a bargain purchase option at a price of RMB1 to buyback the underlying asset by the end of the lease term. All these machineries are currently being used by the Company for its production purpose. The Company determined that in these transactions, the control of the asset is not transferred for the following reasons: (1) under the circumstances of not paying the financial liabilities, the buyer-lessor has no call option on the asset; and (2) the seller-lessee has a call option on the asset, and a.) the option is exercisable at something other than fair value as of the exercise date, b.) no alternative assets are available that are substantially the same as the asset transferred.

 

The Company concluded these transactions were not qualified as sale-leaseback accounting and shall account as normal borrowings from third parties. For accounting purposes, the Company did not derecognize the transferred asset and accounts for any amounts received as a financial liability measured at amortized cost subsequent to initial recognition. The balances with these third-party lenders as of March 31, 2024 and September 30, 2023 are $983,163 and nil.

 

For the six months ended March 31, 2024 and 2023, the Company recognized interest expense of $8,116 and $5,992 on these loan payables, respectively.

 

F-13

 

 

Impairment of long-lived assets

 

The Company’s management reviews the carrying values of long-lived assets whenever events and circumstances, such as a significant decline in the asset’s market value, obsolescence or physical damage affecting the asset, significant adverse changes in the assets use, deterioration in the expected level of the assets performance, cash flows for maintaining the asset are higher than forecast, indicate that the net book value of an asset may not be recovered through expected future cash flows from its use and eventual disposition. If the estimated cash flows from the use of the asset and its eventual disposition are below the asset’s carrying value, then the asset is deemed to be impaired and written down to its fair value.

 

There was no impairment charge recognized for long-lived assets for March 31, 2024 and 2023.

 

Fair value measurement

 

Fair value measurements and disclosures requires disclosure of the fair value of financial instruments held by the Company. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:

 

	●	Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
	●	Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
	●	Level 3 inputs to the valuation methodology use one or more unobservable inputs which are significant to the fair value measurement. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

 

For the Company’s financial instruments, including cash and cash equivalents, accounts receivable, other receivables, accounts payable, due to related parties, notes receivable, notes payable, and short-term borrowing, the carrying amounts approximate their fair values due to their short maturities as of March 31, 2024 and 2023.

 

Value-added tax (“VAT”)

 

Sales revenue represents the invoiced value of goods, net of VAT. All of the Company’s products sold in the PRC are subject to a VAT on the gross sales price. The Company is subject a VAT rate of 13% effective on April 1, 2019. The VAT may be offset by VAT paid by the Company on raw materials and other materials included in the cost of producing or acquiring its finished products.

 

Revenue recognition 

 

The Company generates its revenues mainly from sales of display modules and polarizers to third-party customers, who are mainly display manufacturers and end-brand customers. The Company follows Financial Accounting Standards Board (FASB) ASC 606 and accounting standards updates (“ASU”) 2014-09 for revenue recognition. On October 1, 2017, the Company has early adopted ASU 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company considers revenue realized or realizable and earned when all the five following criteria are met: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. 

  

F-14

 

 

The Company considers customer purchase orders to be the contracts with a customer. As part of its consideration of the contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).

 

In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company offers customer warranty of six months to five years for defective products that is beyond contemplated defective rate mutually agreed in contract with customers. The Company analyzed historical refund claims for defective products and concluded that they have been immaterial.

 

Revenues are reported net of all VAT. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on their relative standalone selling price.

 

Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied at a point in time), which typically occurs at delivery. For international sales, the Company sells its products primarily under the free onboard (“FOB”) shipping point term. For sales under the FOB shipping point term, the Company recognizes revenues when products are delivered from Company to the designated shipping point. Prices are determined based on negotiations with the Company’s customers and are not subject to adjustment.

 

The Company also generates revenues from providing repair services. Revenues from repair service agreements are recognized at a point in time once the service is rendered to the customer. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).

 

The Company also generates revenues from providing research and development services. Revenues from research and development are mainly generated from video conferencing system development service. When the contract is awarded, the Company will develop the video conferencing system significantly customized to the needs of the customer. The duration of contracts ranges from nine months to twelve months. The Company develops the customized video conferencing system, which is combined output, to the customers. Therefore, each development contract is a single performance obligation under ASC 606-10-25-21. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).

  

The Company is not able to sell the research and development services to another customer due to the individual customization of each contract and the Company has an enforceable right to payment for performance completed to date, which meets the criteria of the performance obligation over time under ASC 606-10-25-29. For performance obligations satisfied over time, the Company recognizes revenue over time by using the output method to measure the progress toward complete satisfaction of a performance obligation. The Company used the milestones reached method specified in each contract to determine the extent of progress toward completion.

 

Government subsidies

 

Government subsidies refer to the financial assistance provided by the government to enterprises, either in the form of monetary or non-monetary assets, without charge. These subsidies can be categorized into two types: subsidies related to assets and subsidies related to revenue.

 

Subsidies related to assets: These subsidies are obtained by enterprises and used for the acquisition or formation of long-term assets. Typically, the terms and conditions of the subsidy require the enterprise to utilize the funds for the acquisition of long-term assets. In terms of accounting treatment, there are two options available: i) Recognition as deferred income: The subsidy related to assets can be recognized as deferred income, which is gradually recognized in the income statement as the assets are utilized. ii)Reduction of the carrying value of assets: The subsidy can also be used to reduce the carrying value of the long-term assets, reflecting their actual acquisition costs.

 

F-15

 

 

Subsidies related to revenue: These subsidies, which are distinct from those related to assets, are primarily aimed at compensating enterprises for expenses or losses that have already occurred or are expected to occur. Due to their shorter benefit period, they are typically recognized in the income statement or used to offset related costs when the conditions of the subsidy are met.

  

For the six months ended March 31, 2024 and 2023, the Company received government subsidies of $228,673 and $479,152, respectively. The grants were recorded as other income in the consolidated financial statements.

 

Research and development costs

 

Research and development activities are directed toward the development of new products as well as improvements in existing processes. These costs, which primarily include salaries, contract services and supplies, are expensed as incurred. 

 

Shipping and handling costs

 

Shipping and handling costs are expensed when incurred and are included in selling and marketing expense. Shipping and handling costs were $149,786 and $288,767 for the six months ended March 31, 2024 and 2023, respectively.

 

Income taxes

 

The Company accounts for income taxes using the asset and liability method whereby it calculates deferred tax assets or liabilities for temporary differences between the tax basis of assets and liabilities and their reported amounts in the unaudited consolidated financial statements, net operating loss carry forwards and credits by applying enacted tax rates applicable to the fiscal years in which those temporary differences are expected to be reversed or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The components of the deferred tax assets and liabilities are individually classified as non-current amounts.

 

The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

 

To the extent applicable, the Company records interest and penalties as other expense. All of the tax returns of the Company’s PRC subsidiaries remain subject to examination by PRC tax authorities for five years from the date of filing. The fiscal year for tax purpose in PRC is December 31.

 

The Company is not subject to U.S. tax laws and local state tax laws. The Company’s income and that of its related entities must be computed in accordance with Chinese and foreign tax laws, as applicable, and all of which may be changed in a manner that could adversely affect the amount of distributions to shareholders. There can be no assurance that Income Tax Laws of PRC will not be changed in a manner that adversely affects shareholders. In particular, any such change could increase the amount of tax payable by the Company, reducing the amount available to pay dividends to the holders of the Company’s ordinary shares.

 

Earnings per share

 

Earnings per share is calculated in accordance with ASC 260 Earnings per Share. Basic earnings (loss) per share is computed by dividing the net income attributable to shareholders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share is computed in accordance with the treasury stock method and based on the weighted average number of ordinary shares and dilutive ordinary share equivalents. Dilutive ordinary share equivalents are excluded from the computation of diluted earnings per share if their effects would be anti-dilutive. There were no dilutive ordinary share equivalents outstanding during the six months ended March 31, 2024 and 2023.

 

F-16

 

 

Significant risks and uncertainties

 

Exchange Rate Risks

 

The Company operates in PRC, which may give rise to significant foreign currency risks mainly from fluctuations and the degree of volatility of foreign exchange rates between the USD and the RMB. 

 

Currency Convertibility Risks

 

Substantially all of the Company’s operating activities are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with other information such as suppliers’ invoices, shipping documents and signed contracts.

 

Concentration of Credit Risks

 

Financial instruments that potentially subject the Company to concentration of credit risks consist primarily of cash and cash equivalents, restricted cash, accounts receivables, and notes receivable. The Company places its cash and cash equivalents, restricted cash, and note receivable in good credit quality financial institutions in Hong Kong and PRC. Concentration of credit risks with respect to accounts receivables is linked to the concentration of revenue. To manage credit risk, the Company performs ongoing credit evaluations of customers’ financial condition.

 

Interest Rate Risks

 

The Company is subject to interest rate risk. Although the Company’s interest-bearing loans carry fixed interest rates within the reporting period, the Company is still subject to the risk of adverse changes in the interest rates charged by the banks if and when these loans are refinanced.

 

Risks and Uncertainties

 

The operations of the Company are located in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by political, economic, and legal environments in the PRC, as well as by the general state of the PRC economy. The Company’s results may be adversely affected by changes in the political, regulatory and social conditions in the PRC. Although the Company has not experienced losses from these situations and believes that it is in compliance with existing laws and regulations including its organization and structure disclosed in Note 1, this may not be indicative of future results.

 

Reclassifications

 

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.

 

Recent Accounting Pronouncements

 

The Company considers the applicability and impact of all accounting standards updates. Management periodically reviews new accounting standards that are issued.

 

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This amends guidelines on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current U.S. GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current U.S. GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which amended the effective date of ASU 2016-13. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning April 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this policy has no material impact.

 

F-17

 

 

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning October 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this guidance has no impact on the calculation of Company’s income taxes.

 

Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows.

 

NOTE 3 – RESTRICTED CASH

 

Restricted cash as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
Pledge of bank deposit		$	306,081			$	302,906
Restricted cash		$	306,081			$	302,906

 

As of March 31, 2024 and September 30, 2023, restricted cash is certain portion of bank deposit used for pledging or guarantee purpose.

 

NOTE 4 – ACCOUNTS RECEIVABLE

 

Accounts receivable as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Accounts receivable, gross		$	4,889,970			$	6,531,667
Less: allowance for credit losses			(82,032	)			(46,722	)
Accounts receivable, net		$	4,807,938			$	6,484,945

 

The Company’s customers are, for the most part, end-brand customers or their system integrators and display panel manufacturers. The Company’s credit policy typically requires payment within 30 to 120 days, and payments on the vast majority of its sales have been collected within 60 days. The average accounts receivable turnover period was approximately 138 days and 40 days for the six months ended March 31, 2024 and the fiscal years ended September 30, 2023 respectively.

 

Below is an aged analysis of accounts receivables as of March 31, 2024, respectively.

 

		As of March 31, 2024
		Accounts receivable,				Allowance for credit				Accounts receivable,
		Gross				losses				Net
		(Unaudited)				(Unaudited)				(Unaudited)
Within 90 days		$	3,526,922			$	-			$	3,526,922
91-180 days			605,879				-				605,879
181-365 days			108,973				(5,448	)			103,525
Greater than 1 year			648,196				(76,584	)			571,612
Accounts receivable, net		$	4,889,970			$	(82,032	)		$	4,807,938

 

F-18

 

 

Changes of allowance for credit losses for the six months ended March 31, 2024 and September 30, 2023 are as follows:

 

		As of				As of
		March 31,				September 30,
		2024				2023
		(Unaudited)
Beginning balance		$	46,722			$	33,184
Additional reserve through bad debt expense			35,310				13,538
Bad debt write-off
Ending balance		$	82,032			$	46,722

 

Bad debt expense for doubtful accounts receivables recorded by the Company for the six months ended March 31, 2024 was $35,310 and $13,538 was the additional bad debt expense for the year ended September 30, 2023 respectively.

 

NOTE 5 – INVENTORIES

 

Inventories as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Raw materials		$	7,622,283			$	9,016,981
Work in process			904				-
Finished goods			5,079,193				5,133,030
Goods in transit			159,493				1,714,861
Inventory provision			(1,739,721	)			(1,445,947	)
Total inventories, net		$	11,122,152			$	14,418,925

 

Goods in transit of $159,493 and $1,714,861 as of March 31, 2024 and September 30, 2023 refer to the inventory items that have been shipped out from the Company but yet to be received by the Company’s customers or the designated shipping points. For sales from domestic customers, control of the product is transferred to the customer upon delivery. For sales from international customers, the Company sells its products primarily under FOB shipping point term and control of the product is transferred upon delivery to the designated shipping point.

 

For the six months ended March 31, 2024 and 2023, the Company recorded an inventory provision of $293,774 and $224,461, respectively, presented in cost of sales in the Company’s statement of income and comprehensive income.

 

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET

 

Property, plant and equipment as of March 31, 2024, and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Buildings		$	19,838,425			$	20,258,258
Machinery and equipment			7,674,462				7,576,777
Electronic equipment			2,042,320				2,234,455
Transportation vehicles			341,468				337,925
Office equipment			294,822				283,972
Leasehold improvement			439,646				301,399
Construction in progress			1,696,062				1,654,405
Total property plant and equipment, at cost			32,327,205				32,647,191
Less: accumulated depreciation			(8,593,384	)			(7,591,164	)
Property, plant and equipment, net		$	23,733,821			$	25,056,027

 

Depreciation expense was $1,192,368 and $1,177,801 for the six months ended March 31, 2024 and 2023, respectively. For the six months ended March 31, 2024 and 2023, the Company recorded no impairment of property, plant and equipment.  

 

For the six months ended March 31, 2024 and 2023, the Company purchased new property plant and equipment of $591,277 and $1,294,113, respectively. For the six months ended March 31, 2024 and 2023, the Company also spent approximately $24,359 and $3,640,520 for the construction in progress regarding building and equipment, respectively.

 

F-19

 

 

For the six months ended March 31, 2024, the Company disposed machinery, equipment and transportation vehicles with a net book value of $373,778 (cost of $635,843, accumulated depreciation of $262,065) and received cash from disposal of $455,532, causing a net disposal income of $81,036 included in operating income. For the six months ended March 31, 2023, the Company disposed machinery, equipment and transportation vehicles with a net book value of $205,928 (cost of $290,302, accumulated depreciation of $84,374) and received cash from disposal of $366,216, causing a net disposal income of $160,288 included in operating income. The disposal was related to cutting maintenance cost of idle machinery, equipment, and transportation, and thus improving the production efficiency after the disposal.

 

As of March 31, 2024 and September 30, 2023, the construction in progress assets were related to construction of manufacturing facilities for the Company.

 

As of March 31, 2024 and September 30, 2023, the Company pledged buildings to secure banking facilities granted to the Company. The carrying values of the pledged buildings to secure bank borrowings by the Company are shown in Note 13.

 

NOTE 7 – LAND USE RIGHTS, NET

 

Land use rights as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Land use rights, at cost		$	1,752,534			$	1,734,351
Less: accumulated amortization			(300,319	)			(252,756	)
Total land use rights, net		$	1,452,215			$	1,481,595

 

Amortization expense for land use rights were $45,000 and $44,917 for the six months ended March 31, 2024 and 2023 respectively. For the six months ended March 31, 2024 and 2023, the Company recorded no impairment for land use rights, nor pledged land use rights to secure bank loans.

 

Estimated future amortization expense for land use rights is as follows as of March 31, 2024:

 

12 months ended March 31,		Amortization expense
2025		$	89,828
2026			89,828
2027			89,828
2028			89,828
2029			89,828
Thereafter			1,003,075
Total		$	1,452,215

 

NOTE 8 – INTANGIBLE ASSETS, NET

 

Intangible assets, net as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Purchased software, cost		$	962,789			$	952,800
Purchased patent, cost			2,221,085				2,080,949
Capitalized software, cost			3,390,701				3,371,856
Total intangible assets, at cost			6,574,575				6,405,605
Less: accumulated amortization			(1,880,377	)			(1,427,523	)
Intangible assets, net		$	4,694,198			$	4,978,082

 

F-20

 

 

For the six months ended March 31, 2024, the Company purchased patent rights of $103,276 from third-party supplier, but did not purchase any software from third-party supplier or developed any new capitalized software. The increase in the amount of capitalized software compared to September 30, 2023, is due to the impact of exchange rate fluctuations.  

 

Amortization expense for intangible assets were $440,000 and $213,300 for the he six months ended March 31, 2024 and 2023, respectively. The increase in the amortization amount of intangible assets in the current period is due to the capitalization of a software as of September 30, 2023. For the six months ended March 31, 2024 and March 31, 2023, the Company recorded no impairment of intangible asset, nor pledged intangible asset to secure bank loans.

 

Estimated future amortization expense for intangible assets is as follows as of March 31, 2024:

 

12 months ended March 31,		Amortization expense
2025		$	878,306
2026			878,306
2027			878,306
2028			878,306
2029			878,306
Thereafter			302,668
Total		$	4,694,198

 

NOTE 9 – LONG-TERM INVESTMENT

 

In July 2022, the Company made an investment in Nanjing Baituo Visual Technology Co., Ltd (“Nanjing Baituo”) by RMB1,500,000 ($223,881, exchange rate 6.7000)   with equity percentage of 15%. The Company has no significant influence in Nanjing Baituo’s operation as the Company does not dedicate any members on the Board of Directors of Nanjing Baituo or participate in its management and daily operation. As of March 31, 2024, the Company carried the investment at its cost in the amount of $207,748. Nanjing Baituo is principally engaged in the operation of software development in artificial intelligence and virtual reality and manufacturing in wearable smart devices. As of March 31, 2024, there has been no impairment of the long-term investment in Nanjing Baituo Company.

 

NOTE 10 – OTHER LONG-TERM RECEIVABLE

 

Other long-term receivable as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Other long-term receivables		$	267,823			$	248,011
Total		$	267,823			$	248,011

 

The long-term receivables mainly consist of performance guarantees for project investments and deposits for establishing online stores on various e-commerce platforms. As of March 31, 2024, these long-term receivables, with an age range of 3 to 5 years, are projected to be recovered upon conclusion of the project.

 

F-21

 

 

NOTE 11 – CONVERTIBLE NOTES

 

On January 19, 2024, the Company entered into a securities purchase agreement with Streeterville Capital, LLC, a Utah limited liability company relating to the issuance and sale of a senior unsecured convertible note in the principal amount of $550,000, at a purchase price of $500,000. The Note is convertible into ordinary shares, par value $0.0001 per share, of the Company.

 

On January 22, 2024, the Company completed its issuance and sale to the Buyer of the Note pursuant to the Securities Purchase Agreement. The gross proceeds from the sale of the Note were $500,000, prior to deducting transaction fees and estimated expenses.

 

The Note bears a simple interest at a rate of 7% per annum. All outstanding principal and accrued interest on the Note will become due and payable on January 22, 2025 (the “Maturity Date”), which is twelve (12) months after the purchase price of the Note is delivered by the Buyer to the Company. The Note includes an original issue discount of $40,000, along with $10,000 for the Buyer’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Note.

 

The Note has a redemption conversion price (the “Conversion Price”) equal to eighty percent (80%) of the lowest daily VWAP (the dollar volume-weighted average price for ordinary shares on the Nasdaq Capital Market) during the ten (10) consecutive trading days immediately preceding the conversion date or other date of determination, but not lower than US$0.1436 (or such lower amount as permitted, from time to time, by Nasdaq or other principal market) per ordinary share (the “Floor Price”). Beginning on the date that is six (6) months from the Purchase Price Date until the Outstanding Balance (each as defined in the Note) has been paid in full, the Buyer may convert the Note at its option into ordinary shares at the Conversion Price up to the Maximum Monthly Redemption Amount (as defined in the Note), provided that, in no event shall there be an Equity Conditions Failure Amount on the applicable Redemption Date (each as defined in the Note), and such failure is not waived in writing by the Buyer; or shall the Conversion Price be less than the Floor Price. The Company may, at its election, prepay all or any portion of the Outstanding Balance under the Note prior to the Maturity Date at a cash price equal to 120% of the portion of the Outstanding Balance to be prepaid.

 

Upon the occurrence of a Trigger Event (as defined in the Note), the Buyer shall have the right to increase the balance of the Note by 15% for Major Trigger Event (as defined in the Note) and 5% for Minor Trigger Event (as defined in the Note), which are at 25% in the aggregate. In addition, the Note provides that upon the occurrence of an Event of Default (as defined in the Note), the interest rate shall accrue on the Outstanding Balance at the rate equal to the lesser of 22% per annum or the maximum rate permitted under applicable law.  As of March 31, 2024, the Company has not experienced any events triggering the provisions. During this reporting period, the company has been experiencing losses. Including the converted common shares in the diluted earnings per share calculation would reduce the loss per share, resulting in an anti-dilutive effect. Therefore, the converted common shares have not been considered in the calculation of diluted earnings per share.

 

The amortized cost of the convertible notes as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)				-
Convertible Notes- Issued in Jan, 2024		$	550,000			$	-
Less debt discount and debt issuance cost			38,970				-
			511,030				-
Less current portion of convertible notes payable			511,030				-
Long-term convertible notes payable		$	-			$	-

 

During the six months ended March 31, 2024 and 2023, the Company recognized interest expense on convertible notes payable of $9,625 and nil, and amortization of debt discount, included in interest expense of $11,030 and nil, respectively.

 

On June 24, 2024, the Company repaid the convertible promissory note dated January 19, 2024 in full, and the investor released the Company from any and all obligations and liabilities under the note. As a result, the note was deemed paid in full, canceled and of no further force or effect.

 

NOTE 12 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

Accrued expenses and other current liabilities as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Deferred government subsidies		$	885,209			$	910,709
Tax payable			120,439				54,174
Wages Payable			137,705				105,079
Interest payable			85,557				304,222
Other payables and accruals			790,945				669,646
Total		$	2,019,855			$	2,043,830

 

Deferred government subsidies were government subsidies the Company received from the local governments related to certain assets that will be amortized in the depreciated periods of the assets.

 

F-22

 

 

NOTE 13 – BORROWINGS

 

Borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Short-term bank loans		$	18,835,782			$	16,036,184
Short-term loans from third-party individuals and entities*			7,264,299				7,879,608
Total		$	26,100,081			$	23,915,792

 

*

As of March 31, 2024, the third-party loan balance includes a short-term loan of $387,796 from Chengdu Airport Factoring Company, with another third party, Chengdu Juyuan Company, providing a guarantee for the loan. Per the agreement among all parties, Jiangsu Austin has pledged its investment of $8.31 million, representing a 50% equity stake in Sichuan Ausheet, to secure the guarantee provided by Chengdu Juyuan Company. The equity pledge remains in effect as long as Sichuan Ausheet has an outstanding loan balance owed to Chengdu Airport Factoring Company. Upon repayment of the loan, Jiangsu Austin retains the right to dispose of the 50% pledged equity. There was no outstanding balance of the loan with Chengdu Airport Factoring Company as of September 30, 2023, hence no pledge at the time for this loan.

 

Short-term bank loans as of March 31, 2024 consisted of the following:

 

Bank Name		Amount - RMB				Amount - USD				Issuance Date		Expiration Date		Interest
Bank of Nanjing*			19,000,000				2,631,470			7/21/2023		7/1/2024			3.70	%
Bank of Nanjing*			1,000,000				138,498			7/21/2023		7/1/2024			3.70	%
Bank of China*			4,000,000				553,994			7/27/2023		7/25/2024			3.42	%
Bank of China*			4,000,000				553,994			7/26/2023		7/24/2024			3.42	%
Bank of Ningbo*			10,000,000				1,384,984			6/21/2023		6/20/2024			4.55	%
Bank of Jiangsu*			5,000,000				692,492			8/15/2023		8/14/2024			4.05	%
Bank of Jiangsu*			3,000,000				415,495			8/15/2023		8/14/2024			4.05	%
Bank of Bei Jing*			10,000,000				1,384,984			4/28/2023		4/27/2024			3.65	%
Bank of Communication			6,000,000				830,990			11/24/2023		11/23/2024			4.35	%
Postal Savings Bank of China*			20,000,000				2,769,968			1/2/2024		12/31/2024			3.45	%
Bank of Communication*			9,000,000				1,246,486			6/29/2023		6/28/2024			3.70	%
Bank of China*			3,000,000				415,495			1/23/2024		6/30/2024			3.05	%
Bank of Cheng Du			5,000,000				692,492			7/25/2023		7/24/2024			5.65	%
Bank of China			10,000,000				1,384,984			8/21/2023		8/21/2024			5.55	%
Chengdu Rural Commercial Bank			10,000,000				1,384,984			12/22/2023		12/21/2024			3.55	%
China Construction Bank			5,000,000				692,492			3/11/2024		3/10/2025			3.95	%
Bank of Zijin Rural Commercial***			2,000,000				276,997			3/29/2023		3/28/2025			4.35	%
Bank of Zijin Rural Commercial**			4,750,000				657,867			3/3/2023		3/3/2025			4.35	%
Bank of Zijin Rural Commercial**			5,250,000				727,116			1/31/2023		1/20/2025			4.35	%
Total			136,000,000			$	18,835,782

 

*	As of March 31, 2024 a total of $13,018,850 short-term loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024.
**	As of March 31, 2024, a total of $1,384,984 long-term bank loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024.
***	As of March 31, 2024, a total of $276,997 bank loans were obtained through pledging a fixed certificate of deposit worth $306,081, of which $306,081 is included in the restricted cash.

 

For the six months ended March 31, 2024 and 2023, interest expense on short-term bank borrowings amounted to $537,018 and $566,254, respectively.

 

F-23

 

 

Short-term bank loans as of September 30, 2023 consisted of the following:

 

Bank Name		Amount - RMB				Amount - USD				Issuance Date		Expiration Date		Interest
Bank of Nanjing*			19,000,000				2,604,167			7/21/2023		7/1/2024			3.70	%
Bank of Nanjing*			1,000,000				137,061			7/21/2023		7/1/2024			3.70	%
Bank of China*			4,000,000				548,246			7/27/2023		7/25/2024			3.42	%
Bank of China*			2,000,000				274,123			7/27/2023		2/26/2024			3.42	%
Bank of China*			4,000,000				548,246			7/26/2023		7/25/2024			3.42	%
Bank of Ningbo			10,000,000				1,370,613			6/21/2023		6/15/2024			4.55	%
Bank of Jiangsu			5,000,000				685,307			8/15/2023		8/14/2024			4.05	%
Bank of Jiangsu			3,000,000				411,184			8/15/2023		8/13/2024			4.05	%
Agricultural Bank of China			10,000,000				1,370,614			11/9/2022		11/1/2023			3.65	%
Bank of Beijing			10,000,000				1,370,614			4/28/2023		4/27/2024			3.65	%
Bank of Nanjing*			5,000,000				685,307			5/17/2023		11/14/2023			3.80	%
Bank of Communications			9,000,000				1,233,553			6/29/2023		6/28/2024			3.70	%
Bank of China*			10,000,000				1,370,614			6/29/2023		1/28/2024			3.65	%
Agricultural Bank of China*			10,000,000				1,370,614			1/1/2023		1/1/2024			3.65	%
Bank of Chengdu*			5,000,000				685,307			7/25/2023		7/24/2024			5.65	%
Bank of China*			10,000,000				1,370,614			8/21/2023		8/21/2024			5.55	%
Total			117,000,000			$	16,036,184

 

*

As of September 30, 2023, a total of $9,594,299 short term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.

 

Short-term borrowings also include loans from various individuals that are unsecured, due on demand, and bear interest of 4.42%. The total amount of these loans was $7,264,299 and $7,879,608 as of March 31, 2024 and September 30, 2023, respectively. The Company recorded interest expense of $568,495 and $121,498 for the six months ended March 31, 2024 and 2023, respectively.

 

Long-term borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:

 

		March 31, 2024				September 30, 2023
Long-term bank loans		$	-			$	1,644,737
Total		$	-			$	1,644,737

 

For the six months ended March 31, 2024 and 2023, interest expense on all long-term borrowings amounted to nil and 7,491, respectively.

 

Long-term bank loans as of September 30, 2023 consisted of the following:

 

Bank Name		Amount - RMB				Amount - USD				Issuance Date		Expiration Date		Interest
Bank of Zijin Rural Commercial*			2,000,000				274,123			3/29/2023		3/28/2025			4.35	%
Bank of Zijin Rural Commercial**			4,750,000				651,042			3/3/2023		3/3/2025			4.35	%
Bank of Zijin Rural Commercial**			5,250,000				719,572			1/31/2023		1/20/2025			4.35	%
Total			12,000,000			$	1,644,737

 

*	As of September 30, 2023, a total of $274,123 bank loans were obtained through pledging a fixed certificate of deposit worth $302,906, of which $302,906 is included in the restricted cash.
**	As of September 30, 2023, a total of $1,370,614 long term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.

 

F-24

 

 

The Company’s bank loans are guaranteed by the Company’s major shareholder, Mr. Tao Ling and his immediate family members, third-party individuals, and third-party companies. See Note 16 – Related Party Transactions for more information on guaranty provided by Mr. Tao Ling and his immediate family members. Certain Company’s assets were also pledged to secure the banks loans. The details of the pledges of assets are as follows:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Buildings, net		$	819,422			$	845,878
Bank deposit			306,081				302,906
Total		$	1,125,503			$	1,148,784

 

NOTE 14 – Long-term payables

 

The company has entered into a contract with a third-party construction company for the construction of a factory building. As of July 2023, the construction of the factory building has been completed and is in the expected usable state. According to the terms of the contract, 3% of the total contract price will be withheld as a quality guarantee deposit for the factory building, which will be paid to the supplier after a period of 2 years if the building has no quality issues. This matter constitutes a long-term payable.

 

During the six months ended March 31, 2024, the Company has two transactions with two third-party for manufacturing facilities where the Company sold certain machinery located in China and subsequently leased the machinery back for 24 months. In these arrangements, the Company has no obligation to transferring the underlying asset to an unaffiliated third party or has a bargain purchase option at a price of RMB1 to buyback the underlying asset by the end of the lease term. The Company concluded these transactions were not qualified as sale-leaseback accounting and shall account as normal borrowings from third parties. For accounting purposes, the Company did not derecognize the transferred asset and accounts for any amounts received as a financial liability measured at amortized cost subsequent to initial recognition. The balances with these third-party lenders as of March 31, 2024 is $983,163.

 

Long-term borrowings as of September 30, 2024 and September 30, 2023 consisted of the following:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Long- term payable (from guarantee deposit)		$	274,438			$	271,590
Long- term payable (from financial lease   )			1,080,128				-
Less unrecognized financing expense			96,965				-
			1,257,601				271,590
Less current portion of long-term payable			532,426				-
		$	725,175			$	271,590

 

NOTE 15 – CUSTOMER AND SUPPLIER CONCENTRATIONS

 

Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases, respectively.

 

For the six months ended March 31, 2024, the Company had two significant customers which accounted for 32.7% and 10.6% of the Company’s total revenue, respectively. As of March 31, 2024, the Company had accounts receivable balances from five customers which accounted for 30.8%, 14.2%,12.6%,12.2% and 12.0% of the Company’s total accounts receivable balance.  

 

For the six months ended March 31, 2023, the Company had two significant customers which accounted for 45.6% and 23.1% of the Company’s total revenue, respectively. As of March 31, 2023, the Company had accounts receivable balances from one customer which accounted for 48.2% of the Company’s total accounts receivable balance.

 

F-25

 

 

The loss of any of the Company’s significant customer or the failure to attract new customers could have a material adverse effect on the Company’s business, consolidated results of operations and financial condition.

 

For the six months ended March 31, 2024, two suppliers accounted for 42.4% and 16.1% of the Company’s total purchase of raw materials, respectively. As of March 31, 2024, the Company had accounts payable balance to two suppliers which accounted for 34.3% and 11.5% of the Company’s total accounts payable balance.

 

For the six months ended March 31, 2023, two suppliers accounted for 42.2% and 12.2% of the Company’s total purchase of raw materials, respectively. As of March 31, 2023, the Company had accounts payable balance to one supplier which accounted for 80.5% of the Company’s total accounts payable balance.

 

The loss of any of the Company’s significant supplier or the failure to purchase key raw material could have a material adverse effect on our business, consolidated results of operations and financial condition.

 

NOTE 16 – RELATED PARTY TRANSACTIONS

 

1)	Nature of relationships with related parties:

 

Name		Relationship with the Company
Tao Ling		Principal shareholder, Chief Executive Officer and Chairman of the Company
Xiaohong Yin		Principal shareholder and director of the Company
Bozhen Gong		Immediate family member of Tao Ling
Yun Tan		Immediate family member of Tao Ling
Rongxin Ling		Immediate family member of Tao Ling
Peizhen Zhang		Immediate family member of Tao Ling
Ying Ling		Immediate family member of Tao Ling
Jing Ling		Immediate family member of Tao Ling
Nanjing Shun yi Jing Electric Technology Co., Ltd.		Principal shareholder is immediate family member of Tao Ling
Luzhou Nachuan Investment Limited		An entity which owns 5% equity interest of Luzhou Aozhi
Midea International Co., Ltd*		Principal shareholder of the company
Nanjing Aoni Investment Management Partnership (Limited Partnership) **		An entity which owns 71.43% equity interest of Auniuxin

 

*	Midea International Co., Ltd became a new related party in January 2024 through a private placement issuance

**

Nanjing Aoni Investment Management Partnership (Limited Partnership) became a new related party in January 2024 through its investment in Auniuxin.

 

2)	Related party borrowings

 

For the six months ended March 31, 2024, the Company’s related parties provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and interest free. The following table summarizes borrowing transactions with the Company’s related parties:

 

		Borrowing/				Payment/
		Collecting				Lending
Name of Related Parties		Amount				Amount
Tao Ling		$	416,297			$	416,297
Xiaohong Yin			1,706,816				2,092,403
Rongxin Ling			208,148				-
Peizhen Zhang			152,642				-
Bozhen Gong			83,259				-
Ying Ling			83,259				-
Jing Ling			194,272				55,506
Yun Tan			-				180,395
Nanjing Shun yi Jing Electric Technology Co., Ltd.			763,210				126,277
Midea International Co., Ltd			1,859,000				1,608,000
Total		$	5,466,903			$	4,478,878

 

For the six months ended March 31, 2024, a total of $13,018,850 bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024.  

 

F-26

 

 

For the six months ended March 31, 2023 the Company’s related parties provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and interest free. The following table summarizes borrowing transactions with the Company’s related parties: 

 

		Borrowing/				Payment/
		Collecting				Lending
Name of Related Parties		Amount				Amount
Tao Ling		$	394,203			$	143,347
Xiaohong Yin			1,799,173				236,694
Bozhen Gong			71,673				301,028
Total		$	2,265,049			$	681,069

 

For the six months ended March 31, 2023, a total of $5,387,616 bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2023.

 

3)	Related party transactions

 

		Sales				Sales
Name of Related Parties		March 31, 2024				March 31, 2023
Midea International Co., Ltd			66,206				-
Total		$	66,206			$	-

 

On January 9, 2024, Sichuan Ausheet entered into an equity transfer agreement with Nanjing Aoni, a related party. Pursuant to the equity transfer agreement, Sichuan Ausheet transferred RMB10 million equity of Auniuxin to Nanjing Aoni, resulting in Nanjing Aoni owning the 71.43% of Auniuxin. As of March 31, 2024, Nanjing Aoni has funded RMB8.3 million into Auniuxin. Mr. Ling Tao, CEO, the ultimate controller of Ostin, is also a controlling shareholder with 68.27% ownership of Nanjing Aoni.

 

4)	Related party balances

 

Outstanding balances with related parties consisted of the following as of March 31, 2024 and September 30, 2023:

 

Accounts		Name of Related Parties		March 31, 2024				September 30, 2023
Due from related parties		Midea International Co., Ltd			66,206				-
Total due from related parties				$	66,206			$	-

 

Accounts		Name of Related Parties		March 31, 2024				September 30, 2023
Due to related parties		Xiaohong Yin		$	1,343,434			$	1,710,347
Due to related parties		Bozhen Gong			152,348				68,531
Due to related parties		Yun Tan			-				178,180
Due to related parties		Rongxin Ling			346,246				137,061
Due to related parties		Peizhen Zhang			263,147				109,649
Due to related parties		Ying Ling			221,597				137,061
Due to related parties		Jing Ling			138,498				-
Due to related parties		Nanjing Shun yi Jing Electric Technology Co., Ltd.			1,307,425				664,748
Due to related parties		Midea International Co., Ltd			451,000				-
Total due to related parties				$	4,223,696			$	3,005,577

 

F-27

 

 

NOTE 17 – STOCKHOLDERS’ EQUITY

 

Ordinary Shares

 

Based on the shareholder meeting held on March 28, 2024, the company decided to adjust its authorized share capital from 500,000,000 shares at $0.0001 per share to 5,000,000,000 shares at $0.0001 per share. This adjustment includes 4,991,000,000 Class A ordinary shares, 8,000,000 Class B ordinary shares, and 1,000,000 preference shares.

 

Additionally, the company re-designated 16,806,250 issued ordinary shares with a par value of US$0.0001 each into 16,806,250 Class A ordinary shares with the same par value. Furthermore, the company issued 2,000,000 Class B Ordinary Shares and utilized the proceeds to repurchase 2,000,000 Class A Ordinary Shares held by SHYD Investment Management Limited, at a repurchase amount equivalent to the aggregate par value of $200. Upon completion of the repurchase, these 2,000,000 Class A Ordinary Shares were canceled. Following the repurchase and issuance of Class B Ordinary Shares, the company’s total issued share capital remained unchanged, and the authorized share capital was not reduced. There are currently 16,806,250 issued and outstanding ordinary shares, including 14,806,250 Class A ordinary shares and 2,000,000 Class B ordinary shares. Mr. Tao Ling holds 12.89% of the Class A ordinary shares and 100% of the Class B ordinary shares through his wholly owned holding company, while Mr. Xiaohong Yin holds 6.5% of the Class A ordinary shares through his wholly owned holding company. A Class A Ordinary Share shall (in respect of such Class A Ordinary Share) have one vote for every Class A Ordinary Share of which he is the holder. A Class B Ordinary Share shall (in respect of such Class B Ordinary Share) have 20 votes for every Class B Ordinary Share of which he is the holder. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.

 

Private placement

 

On January 31, 2024, the company entered into a Subscription Agreement for a private placement with MIDEA INTERNATIONAL CO., LIMITED. Pursuant to the Subscription Agreement, the company agreed to issue and sell 2,800,000 unregistered ordinary shares at a purchase price of US$0.35 per share. The issuance of these unregistered ordinary shares is exempt from registration, and the Purchaser is subject to certain lock-up arrangements for a period of forty-five (45) days. The company received US$980,000 in proceeds from the private placement unregistered of ordinary shares. The financing closed on February 7, 2024.  

 

On March 28, 2024, according to the resolution of the shareholders’ meeting, the company issued 2 million Class B ordinary shares to SHYD Investment Management Limited at an issuance price of $0.0001 per share. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.

 

F-28

 

 

Dividends

 

Dividends declared by the Company are based on the distributable profits as reported in its statutory financial statements reported in accordance with PRC GAAP, which may differ from the results of operations reflected in the consolidated financial statements prepared in accordance with US GAAP. The Company’s ability to pay dividends is primarily from cash received from its operating activities in the PRC. No dividends were declared or paid by the Company for the six months ended March 31, 2024 and 2023.

 

Statutory Reserve

 

The Company is required to make appropriations to certain reserve funds, comprising the statutory reserve and the discretionary reserve, based on after-tax net income determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary reserve are made at the discretion of the Board of Directors of each of the Company PRC subsidiaries. The reserved amounts as determined pursuant to PRC statutory laws totaled $1,497,772 and $1,497,771 as of March 31, 2024 and September 30, 2023, respectively.

 

Under PRC laws and regulations, paid-in capital and statutory reserves are restricted to set-off against losses, expansion of production and operation and increasing registered capital of the respective company, and are not distributable other than upon liquidation. The reserves are not allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor allowed for distribution except under liquidation.

 

Non-controlling Interests

 

Non-controlling interests represent the interest of non-controlling shareholders in the Company’s subsidiaries based on their proportionate interests in the equity of that company adjusted for its proportionate share of income or losses from operations. The non-controlling interests were $1,378,821 and $130,220 as of March 31, 2024 and September 30, 2023, respectively.

 

NOTE 18 – OTHER INCOME (EXPENSES), NET

 

Other income (expenses), net for the six months ended March 31, 2024 and March 31, 2023 consisted of the following:

 

		For the six months
		March 31,
		2024				2023
		(Unaudited)				(Unaudited)
Government subsidies*		$	228,673			$	479,152
Other miscellaneous non-business income (loss)			16,200				20,830
Total other income (expenses), net		$	244,873			$	499,982

 

*

Government subsidies as the compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related cost are recognized in profit or loss in the period in which they become receivable. Government subsidies as the support for certain assets were recorded in deferred government subsidies and are amortized in the future periods. For six months ended March 31, 2024 and 2023, the Company recorded government subsidies of $228,673 and $479,152 respectively.

 

F-29

 

 

NOTE 19 – LEASE

 

From the Perspective as a Lessee

 

The company entered into lease agreements for production, manufacturing, and office space in September 2017 and November 2022, respectively, with lease durations ranging from 2 to 3 years. These lease contracts provide the necessary production and office spaces for the company to support its business operations. The lease contracts for manufacturing facilities and offices do not have options for renewal, and there are no significant residual value guarantees or significant restrictive covenants included in the lease agreements.

 

In determining whether a contract contained a lease, we determined whether an arrangement was or included a lease at contract inception. Operating lease right-of-use asset and liability were recognized at commencement date and initially measured based on the present value of lease payments over the defined lease term.

 

When determining the discount rate, we consider the average interest rate (4.35%) of our two-year loans and calculate the present value of lease payments based on the information provided by the contract start date. The amortization expense of the Right-of-Use (ROU) asset is recognized on a straight-line basis over the lease term.

 

As of March 31, 2024 and September 30, 2023, the balances of ROU assets and liabilities, along with other information, are presented in the following table:

 

		March 31, 2024				September 30, 2023
Assets
Operating leases		$	87,986			$	141,772
Total right-of-use asset		$	87,986			$	141,772

 

 

		March 31, 2024				September 30, 2023
Liabilities
Operating leases		$	-			$	(116,895	)
Lease Liability-current			-				(104,000	)
Lease Liability-Non current			-				(12,895
Total lease liability		$	-			$	(116,895	)

 

As of March 31, 2024, and September 30, 2023, the total cash payments for operating leases amounted to $119,640 and nil, respectively, with $118,248 and nil allocated to principal payments and $1,292 and nil allocated to interest payments.

 

The Company reviews its ROU assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. No impairment loss on ROU assets was recorded as of March 31, 2024 and September 30, 2023.

 

From the Perspective as a Lessor

 

The company leased a building to a third party for a period of 3 years starting in June 2021, without a purchase option at the end of the lease term. The company classified this lease as an operating lease. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the company has provided the lessee with the right to use the building. The company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease. This lease agreement expires on December 31, 2023.

 

F-30

 

 

NOTE 20 – INCOME TAXES

 

Enterprise Income Taxes (“EIT”)

 

The Company is incorporated in Cayman Island as an offshore holding company and is not subject to tax on income or capital gain under the laws of Cayman Island.

 

Ostin BVI is incorporated in BVI as an offshore holding company and is not subject to tax on income or capital gain under the laws of BVI.

 

Ostin HK and Austin Optronics are established in Hong Kong and are subject to statutory income tax rate at 16.5%.

 

The PRC subsidiaries of the Company are subject to statutory income tax rate at 25%.

 

The Company’s main operating subsidiary in PRC was certified as a High and New Technology Enterprise (“HNTE”) and enjoys a preferential tax rate of 15% since 2013, and the HNTE certificate needs to be renewed every three years. The subsidiary was eligible for a 15% preferential tax rate for the six months ended March 31, 2024 and 2023. The Company has renewed its HNTE certificate in December 2022 and thus its validity extends to December 2025.

 

The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2023 and 2022, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the six months ended March 31, 2024 and 2023, respectively, and also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from March 31, 2024.

 

Per the consolidated statements of income and comprehensive income, the income tax expenses for the Company can be reconciled to the income before income taxes for the six months ended March 31, 2024 and 2023 as follows:

 

		For the six months ended
		March 31,
		2024				2023
		(Unaudited)				(Unaudited)
Income before taxes excluded the amounts of loss incurring entities		$	12			$	12,877
PRC EIT tax rates			25%,15	%			25%,15	%
Tax at the PRC EIT tax rates		$	3			$	1,062
Tax effect of R&D expenses deduction			(110,759	)			(165,682	)
Tax effect of deferred tax recognized			-				7,534
Tax effect of non-deductible expenses			110,756				48,896
Income tax (benefit) provision		$	-			$	(108,189	)

 

Income taxes for the six months ended March 31, 2024 and 2023 are attributed to the Company’s continuing operations in China and consisted of:

 

		For the six months ended
		March 31,
		2024				2023
		(Unaudited)				(Unaudited)
Current income tax		$	(162	)		$	(115,723	)
Deferred income tax			162				7,534
Total income tax (benefit) provision		$	-			$	(108,189	)

 

F-31

 

 

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of March 31, 2024 and September 30, 2023 are presented below:

 

		March 31,				September 30,
		2024				2023
		(Unaudited)
Deferred tax assets:
Allowance for credit losses		$	95,556			$	82,312
Inventory impairment provision			260,958				216,892
Other deductible temporary difference			(199,486	)			(143,805	)
Net operating loss carry-forward			450,612				445,937
valuation allowance for deferred income tax assets			(607,640	)			(601,336	)
Total		$	-			$	-

 

As of March 31, 2024 and September 30, 2023, allowance for the deferred tax assets was $607,640 and $601,336, respectively. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income, projections for future taxable income over the periods in which the deferred tax assets are deductible, and the scheduled reversal of deferred tax liabilities, Management believes that as of March 31, 2024, it is possible that the company may not realize the benefits of these deductible differences. According to the Corporate Income Tax Law of China, annual losses incurred by enterprises can be carried forward to subsequent years to offset future taxable income. The maximum carry-forward period is five years, but high-tech enterprises can extend this period to ten years as per regulations. As a high-tech enterprise, the group’s entities in China can carry forward losses incurred as of September 30, 2020, with a validity period until September 30, 2030. The Company’s affiliated entities in the PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances. As of March 31, 2024, the tax years for the Company’s affiliated entities in the PRC remain open for statutory examination by PRC tax authorities. There were no ongoing examinations by tax authorities as of March 31, 2024 and September 30, 2023.

 

NOTE 21 – COMMITMENT AND CONTINGENCIES

 

As of March 31, 2024, the Company had the following capital commitments under non-cancelable agreements related to construction in progress:

 

Future payments		Capital commitments
April 2024 to September 2024		$	1,181,404
October 2024 to September 2025			299,137
October 2025 to September 2026			-
Thereafter			-
Total		$	1,480,541

 

From time to time, the Company is involved in various legal proceedings, claims and other disputes arising from commercial operations, employees, and other matters which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on our consolidated financial position or results of operations or liquidity. As of March 31, 2024 and September 30, 2023, the Company had no pending legal proceedings outstanding. 

  

F-32

 

 

NOTE 22 – DISAGGREGATED REVENUE

 

The following table presents revenue by major product categories for the six months ended March 31, 2024 and 2023, respectively:

 

		March 31, 2024								March 31, 2023
		Revenues  Amount				As % of Revenues				Revenues Amount				As % of Revenues
		(In USD)								(In USD)
Revenue Category		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Display modules		$	8,285,437				55	%		$	15,137,071				44	%
Polarizers			5,983,816				40	%			16,974,322				49	%
Others (repair services)			703,795				5	%			2,183,721				6	%
Total		$	14,973,048				100	%		$	34,295,114				100	%

 

The revenue under category of others, are mostly from repairing services and mold product sales that have not become significant portion of the revenue for the six months ended March 31, 2024 and 2023.

 

NOTE 23 – SEGMENT REPORTING

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. All of the Company’s operating facilities and long-lived assets are in China, although the Company sells its products across different geographic regions. Based on management’s assessment, the Company has determined that it has only one operating segment as defined by ASC 280.

 

The following table presents revenues by geographic areas for the six months ended March 31, 2024 and 2023, respectively. 

 

		March 31, 2024								March 31, 2023
		Revenues  Amount				As % of Revenues				Revenues  Amount				As % of Revenues
		(In USD)								(In USD)
Country/Region		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Mainland China		$	14,641,702				98	%		$	33,524,738				98	%
Hong Kong and Taiwan			331,346				2	%			761,136				2	%
Southeast Asia			-				-				9,240				-
Total		$	14,973,048				100	%		$	34,295,114				100	%

 

NOTE 24 – SUBSEQUENT EVENTS

 

On June 21, 2024, the company entered into a securities purchase agreement with Streeterville Capital, LLC, a Utah limited liability company relating to the issuance and sale of a senior unsecured convertible note in the principal amount of $1,360,000, at a purchase price of $1,250,000. The Note is convertible into class A ordinary shares, par value $0.0001 per share of the Company. On June 24, 2024, the Company completed its issuance and sale to the Buyer of the Note pursuant to the Securities Purchase Agreement. The gross proceeds from the sale of the Note were $1,250,000, prior to deducting transaction fees and estimated expenses. The Note bears a simple interest at a rate of 7% per annum. All outstanding principal and accrued interest on the Note will become due and payable on June 24, 2025 (the “Maturity Date”), which is twelve (12) months after the purchase price of the Note is delivered by the Buyer to the Company. The Note includes an original issue discount of $100,000, along with $10,000 for the Buyer’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Note. The Company may, at its election, prepay all or any portion of the Outstanding Balance under the Note prior to the Maturity Date at a cash price equal to 120% of the portion of the Outstanding Balance to be prepaid.

 

The Company issued 2,800,000 ordinary shares to MIDEA INTERNATIONAL CO., LIMITED through a private placement on January 31, 2024. After a 45-day holding period, these shares were registered with the SEC on June 28, 2024, and are now eligible for public trading.

 

On November 20, 2023, Beijing Su Hong Yuan Da Technology Co., Ltd. entered into an equity transfer agreement with Shenzhen Ou Xun Electronics Co., Ltd., under which Suhong Yuanda agreed to transfer 500,000 shares, representing 1% of Jiangsu Austin Optoelectronics Technology Co., Ltd., to Ou Xun for a total consideration of RMB1.3 million (RMB2.6 per share). According to the contract, Ou Xun was required to pay the full amount by June 30, 2024; failure to do so would result in the return of the 1% shareholding, with Ou Xun also obligated to assist in completing the necessary procedures. As of June 30, 2024, Ou Xun had not made the required payment, triggering the share return and cooperation provisions. Consequently, the Company believes Ou Xun is in breach of contract, rendering the contract legally unenforceable and thus terminated. As of August 23, 2024, Jiangsu Austin has not yet received the shares back from Shenzhen Ou Xun Electronics Co., Ltd., but expects to complete this process in the near future.

 

The Company has evaluated subsequent events to the balance sheet date of March 31, 2024 through August 23 2024, the issuance of the consolidated financial statements. No other material subsequent events except for the disclosed above.

 

F-33

 

 

NOTE 25 – CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (UNAUDITED)

 

The following is the condensed financial information of the Company on a parent company only basis.

  

OSTIN TECHNOLOGY GROUP CO., LTD.

PARENT COMPANY BALANCE SHEETS (IN U.S. DOLLARS) (UNAUDITED)

 

		As of March 31,				As of September 30,
		2024				2023
ASSETS
Cash and cash equivalents		$	4,598			$	10,336
Prepayments, deposits and other current assets			9,291,400				8,272,000
Investment in subsidiaries			13,340,885				13,340,885
Total assets		$	22,636,883			$	21,623,211
LIABILITIES AND SHAREHOLDERS’ EQUITY
Convertible notes			511,030				-
Accrued expenses and other current liabilities			24,625				55,000
Total liabilities		$	535,655			$	55,000
SHAREHOLDERS’ EQUITY
Class A ordinary share, $0.0001 par value, 4,991,000,000 shares authorized, 14,806,250 and 14,006,250 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023			1,481				1,401
Class B ordinary share, $0.0001 par value, 8,000,000 shares authorized, 2,000,000 and 0 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023			200				-
Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023			-				-
Additional paid-in capital			24,235,939				23,256,219
Retained earnings			(2,136,392	)			(1,689,399	)
Accumulated other comprehensive loss			-				-
Total equity of the Company’s shareholders			22,101,228				21,568,221
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	22,636,883			$	21,623,221

 

F-34

 

 

 OSTIN TECHNOLOGY GROUP CO., LTD.

CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS AND

OTHER COMPREHENSIVE INCOME (UNAUDITED)

(IN U.S. DOLLARS)

 

		For the six months ended
		March 31,
		2024				2023
Operating expenses:
General and administrative expenses		$	(424,073	)		$	(329,931	)
Bank charges and others			(22,290	)			-
Total operating expenses			(446,993	)			(329,931	)
Other non-business income
Net loss		$	(446,993	)		$	(329,931	)
Other comprehensive loss:
Total comprehensive loss		$	(446,993	)		$	(329,931	)

 

F-35

 

 

OSTIN TECHNOLOGY GROUP CO., LTD.

CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS (UNAUDITED)

(IN U.S. DOLLARS)

 

		For the six months ended
		March 31,
		2024				2023
Cash Flows from Operating Activities:
Net loss		$	(446,993	)		$	(329,931	)
Changes in operating assets and liabilities:
Prepaid expenses and other receivables			(1,019,400	)			325,000
Accrued expenses and current liabilities			(19,345	)			-
Net cash used in operating activities			(1,485,738	)			(4,931	)
Cash Flows from Investing Activities:
Long-term investment			-				-
Net cash used in investing activities			-				-
Cash Flows from Financing Activities:
Net proceeds from private placement			980,000				-
Payments to related parties			-				-
Convertible notes			500,000				-
Net cash provided by financing activities			1,480,000				-
Effect of changes in currency exchange rates			-				-
Net decrease in cash and cash equivalents			(5,738	)			(4,931	)
Cash, cash equivalents and restricted cash at the beginning of year			10,336				17,673
Cash and cash equivalents and restricted cash at the end of year		$	4,598			$	12,742

 

(a) Basis of Presentation

 

Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the cost method to account for investment in its subsidiaries.

 

The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

 

F-36

 

 

(b) Shareholders’ Equity

 

The Company is authorized to issue 4,991,000,000 Class A ordinary shares of a par value of US$0.0001 each, 8,000,000 Class B ordinary shares of a par value of US$0.0001 each and 1,000,000 preference shares of a par value of US$0.0001 each. There are currently 16,806,250 issued and outstanding ordinary shares, including 14,806,250 Class A ordinary shares and 2,000,000 Class B ordinary shares. Mr. Tao Ling holds 12.89% of the Class A ordinary shares and 100% of the Class B ordinary shares through his wholly owned holding company, while Mr. Xiaohong Yin holds 6.5% of the Class A ordinary shares through his wholly owned holding company.

 

Share Surrender

 

In December 2020, an aggregate of 27,175,000 ordinary shares were surrendered by all our shareholders for no consideration and were then cancelled which in nature is a stock reverse split. As a result, the number of issued and outstanding ordinary shares decreased from 37,300,000 shares to 10,125,000 shares. All share information included in the consolidated financial statements and notes thereto have been retroactively adjusted as if such share surrender occurred on the first day of the first period presented.

 

Initial Public Offering 

 

On April 29, 2022, the Company consummated its initial public offering of 3,881,250 ordinary shares, par value $0.0001 per share, including 506,250 additional ordinary shares issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $4.00 per share, generating gross proceeds to the Company of $15,525,000 before deducting underwriting discounts and commissions and offering expenses. The offering was conducted on a firm commitment basis. After deducting underwriting discounts, commissions and expenses related to the offering, the Company recorded $12,409,022 (with $388 in par value and $12,408,634 in additional paid-in capital) net proceeds from its initial public offering.

 

Private placement

 

On January 31, 2024, OST entered into a Subscription Agreement for a private placement with MIDEA INTERNATIONAL CO., LIMITED. Pursuant to the Subscription Agreement, OST has agreed to issue and sell to the Purchaser 2,800,000 unregistered ordinary shares of the OST, at a purchase price equivalent to US$0.35 per share. OST will receive US$ 980,000 in proceeds from the Private Placement of these unregistered Ordinary Shares.

 

On March 28, 2024, according to the resolution of the shareholders’ meeting, the company issued 2 million Class B ordinary shares to SHYD Investment Management Limited at an issuance price of $0.0001 per share. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.

 

 

F-37

 

 

Document And Entity Information	6 Months Ended
	Mar. 31, 2024
Document Information Line Items
Entity Registrant Name	Ostin Technology Group Co., Ltd.
Document Type	6-K
Current Fiscal Year End Date	--09-30
Amendment Flag	false
Entity Central Index Key	0001803407
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41362

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Current Assets
Cash and cash equivalents	$ 1,744,631	$ 854,518
Restricted cash	306,081	302,906
Accounts receivable, net of allowance for credit losses of $82,032 and $46,722, respectively	4,807,938	6,484,945
Inventories, net	11,122,152	14,418,925
Advances to suppliers, net	1,871,457	1,509,477
Tax receivables	614,227	646,565
Prepaid expenses and other receivables	464,637	220,346
Total Current Assets	20,997,329	24,437,682
Property, plant and equipment, net	23,733,821	25,056,027
Land use rights, net	1,452,215	1,481,595
Intangible assets, net	4,694,198	4,978,082
Long-term investment	207,748	205,592
Right-of-use lease assets	87,986	141,772
Other long-term receivables	267,823	248,011
TOTAL ASSETS	51,441,120	56,548,761
Current Liabilities
Accounts payable	5,310,619	10,798,453
Convertible notes	511,030
Accrued expenses and other current liabilities	2,019,855	2,043,830
Advances from customers	339,343	648,359
Current portion of long-term payable	532,426
Short-term borrowings	26,100,081	23,915,792
Operating lease liabilities – current		104,000
Deferred tax liability	15,558	15,396
Total Current Liabilities	39,052,608	40,531,407
Operating lease liabilities – non-current		12,895
Long-term borrowings		1,644,737
Long-term payables	725,175	271,590
TOTAL LIABILITIES	39,777,783	42,460,629
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023
Additional paid-in capital	24,235,939	23,256,219
Statutory reserves	1,497,772	1,497,771
Accumulated deficit	(13,107,089)	(8,465,867)
Accumulated other comprehensive loss	(2,343,787)	(2,331,612)
Total Equity Attributable to Ostin Technology Group Co., Ltd.	10,284,516	13,957,912
Equity attributable to non-controlling interests	1,378,821	130,220
Total Shareholders’ Equity	11,663,337	14,088,132
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	51,441,120	56,548,761
Related Party
Current Assets
Due from related parties	66,206
Current Liabilities
Due to related parties	4,223,696	3,005,577
Class A Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	1,481	1,401
Class B Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	$ 200

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Net of allowance for doubtful accounts (in Dollars)	$ 82,032	$ 46,722
Preference shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preference shares, shares authorized	1,000,000	1,000,000
Preference shares, shares issued	0	0
Preference shares, shares outstanding	0	0
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	4,991,000,000	4,991,000,000
Ordinary shares, shares issued	14,806,250	14,006,250
Ordinary shares, shares outstanding	14,806,250	14,006,250
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	8,000,000	8,000,000
Ordinary shares, shares issued	2,000,000	0
Ordinary shares, shares outstanding	2,000,000	0

Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Sales	$ 14,973,048	$ 34,295,114
Cost of sales	(14,082,663)	(33,603,125)
Gross profit	890,385	691,989
Operating expenses:
Selling and marketing expenses	(897,059)	(1,325,919)
General and administrative expenses	(2,900,993)	(3,175,731)
Research and development costs	(965,157)	(1,430,401)
Gain from disposal of property, plant and equipment	81,036	160,288
Total operating expenses	(4,682,173)	(5,771,763)
Operating income (loss)	(3,791,788)	(5,079,774)
Other income (expenses):
Interest income (expense), net	(1,102,464)	(544,923)
Other income (expenses), net	244,873	499,982
Total other income (expenses), net	(857,591)	(44,941)
Loss before income taxes	(4,649,379)	(5,124,715)
Income tax benefit / (provision)		108,189
Net loss	(4,649,379)	(5,016,526)
Net loss attributable to non-controlling interests	(8,158)	(27,324)
Net loss attributable to Ostin Technology Group Co., Ltd.	(4,641,221)	(4,989,202)
Net loss	(4,649,379)	(5,016,526)
Other comprehensive income (loss):
Foreign currency translation adjustment	56,198	(422,092)
Comprehensive loss	(4,593,181)	(5,438,618)
Comprehensive (loss) income attributable to non-controlling interests	60,215	(50,125)
Comprehensive loss attributable to Ostin Technology Group Co., Ltd.	$ (4,653,396)	$ (5,388,493)
Loss per share
Basic (in Dollars per share)	$ (0.29)	$ (0.36)
Weighted average number of ordinary shares outstanding
Basic, Weighted average number of ordinary shares outstanding (in Shares)	15,844,501	14,006,250

Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Parentheticals) - $ / shares	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Diluted	$ (0.29)	$ (0.36)
Diluted, Weighted average number of ordinary shares outstanding	15,844,501	14,006,250

Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($)	Common Stock Class A	Common Stock Class B	Common Stock	Additional paid-in capital	Statutory reserves	Accumulated deficit	Accumulated other comprehensive income (loss)	Non- controlling interests	Total
Balance at Sep. 30, 2022			$ 1,401	$ 23,256,219	$ 1,496,314	$ 2,484,385	$ (1,902,108)	$ 289,000	$ 25,625,211
Balance (in Shares) at Sep. 30, 2022			14,006,250
Foreign currency translation loss							(399,291)	(22,801)	(422,092)
Net loss					1,223	(4,990,425)		(27,324)	(5,016,526)
Balance at Mar. 31, 2023			$ 1,401	23,256,219	1,497,537	(2,506,040)	(2,301,399)	238,875	20,186,593
Balance (in Shares) at Mar. 31, 2023			14,006,250
Balance at Sep. 30, 2023	$ 1,401			23,256,219	1,497,771	(8,465,867)	(2,331,612)	130,220	14,088,132
Balance (in Shares) at Sep. 30, 2023	14,006,250
Private placement	$ 280			979,720					980,000
Private placement (in Shares)	2,800,000
Private placement		$ 200							200
Private placement (in Shares)		2,000,000
Shares repurchase	$ (200)								(200)
Shares repurchase (in Shares)	(2,000,000)
Capital contribution by Non- controlling interests								1,188,386	1,188,386
Foreign currency translation loss							(12,175)	68,373	56,198
Net loss					1	(4,641,222)		(8,158)	(4,649,379)
Balance at Mar. 31, 2024	$ 1,481	$ 200		$ 24,235,939	$ 1,497,772	$ (13,107,089)	$ (2,343,787)	$ 1,378,821	$ 11,663,337
Balance (in Shares) at Mar. 31, 2024	14,806,250	2,000,000

Unaudited Condensed Consolidated Statements of Cash Flows	6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Cash Flows from Operating Activities:
Net loss	$ (4,649,379)	$ (5,016,526)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation expense	1,192,368	1,177,801
Amortization expense of land use rights	45,000	44,917
Amortization expense of intangible assets	440,000	213,300
Amortization expense of right-of-use assets	55,380
Bad debt expense for accounts receivable	35,310	53,535
Bad debt expense for advances to suppliers	47,813	150,547
Inventory provision	293,774	224,461
Deferred tax assets, net		7,534
Gain from disposal of property, plant and equipment	(81,036)	(160,288)
Imputed Interest
Changes in operating assets and liabilities:
Accounts receivable	1,650,754	1,766,078
Notes receivable		(2,922)
Inventories	3,160,822	(428,134)
Advances to suppliers	(394,634)	2,992,304
Prepaid expenses and other receivables	(118,225)	(390,761)
Other long-term receivables	(50,509)	106,439
Accounts payable	(5,090,871)	452,977
Accrued expenses and other current liabilities	(101,528)	(481,177)
Advances from customers	(316,423)	221,124
Income tax payable	106,281	(669,986)
Operating lease liability	(118,348)
Other long-term payables		(7,081)
Net cash provided by (used in) operating activities	(3,893,451)	254,142
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(615,635)	(4,934,633)
Proceeds from disposal of property, plant and equipment	455,532	366,216
Purchases of intangible assets	(103,276)	(326,018)
Net cash used in investing activities	(263,379)	(4,894,435)
Cash Flows from Financing Activities:
Proceeds from capital contribution	1,275,570
Proceeds from private placement	980,000
Proceeds in 2024 from the current portion of Long-term payable	532,426
Proceeds from long-term payable liability	450,737	286,694
Proceeds from short-term bank borrowings	9,963,366	13,354,166
Repayments on short-term bank borrowings	(8,992,007)	(10,620,547)
Proceeds from short-term borrowings from third party individuals	1,518,095	157,681
Repayments on short-term borrowings from third party individuals	(2,014,876)	(215,020)
Proceeds from related parties	5,466,903	1,583,980
Repayments on related parties	(4,478,878)
Proceeds from Convertible notes	500,000
Net cash provided by financing activities	5,201,336	4,546,954
Effect of changes in currency exchange rates	(151,218)	(771,380)
Net (decrease) increase in cash and cash equivalents	893,288	(864,719)
Cash, cash equivalents and restricted cash at the beginning of period	1,157,424	3,806,920
Cash and cash equivalents and restricted cash at the end of period	2,050,712	2,942,201
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets
Cash and cash equivalents	1,744,631	2,620,400
Restricted cash	306,081	321,801
Total cash, cash equivalents and restricted cash	2,050,712	2,942,201
Supplemental disclosures of cash flows information:
Cash paid for income taxes	613	100,880
Cash paid for interest	$ 1,560,507	$ 566,254

Organization and Nature of Operations	6 Months Ended
	Mar. 31, 2024
Organization and Nature of Operations [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS   Ostin Technology Group Co., Ltd. (“Ostin”) is a holding company incorporated on September 26, 2019 under the laws of the Cayman Islands. Ostin and its subsidiaries are collectively referred to as the “Company”. The Company engages in the business of designing, developing and manufacturing TFT-LCD modules and polarizers in a wide range of sizes and customized size according to the specifications of the customers utilizing automated production technique. The company currently operates one headquarter and three manufacturing facilities in China with an aggregate of 54,759 square meters – one factory is located in Jiangsu Province for the manufacture of display modules, one facility is in Sichuan Province for the manufacture of polarizers. The third manufacturing facilities is in Luzhou, Sichuan Province, for manufacture of display modules primarily to be used in devices in the education sector and commenced production in August 2020. The Company’s principal executive offices are located in Jiangsu Province, the People’s Republic of China (the “PRC” or “China”).    Reorganization    A reorganization of the Company’s legal structure was completed in June 2020. The reorganization involved (i) the incorporation of Ostin, a Cayman Islands company; Ostin Technology Holdings Limited (“Ostin BVI”), a British Virgin Islands company and a wholly owned subsidiary of Ostin; Ostin Technology Limited (“Ostin HK”), a Hong Kong company and a wholly owned subsidiary of Ostin BVI; and Nanjing Aosa Technology Development Co., Ltd. (“Nanjing Aosa”), a PRC limited liability company and a wholly owned subsidiary of Ostin HK; and (ii) the entry into a series of contractual arrangements (the “VIE Agreements”) by and between Nanjing Aosa and certain shareholders of Jiangsu Austin Optronics Technology Co., Ltd. (“Jiangsu Austin”) which was a PRC company limited by shares formed in December 2010 and has been the primary operating company of the Company in China. Ostin, Ostin BVI, Ostin HK, and Nanjing Aosa are all holding companies and have not commenced operations.   Prior to the reorganization, Mr. Tao Ling, Mr. Xiaohong Yin and 54 other shareholders (collectively and excluding Suhong Yuanda (as defined below), the “VIE Shareholders”) collectively owned 87.88% of the outstanding shares of Jiangsu Austin and Mr. Tao Ling, through Beijing Suhongyuanda Science and Technology Co., Ltd. (“Suhong Yuanda”) of which he was the sole shareholder, controlled 9.97% of the outstanding shares of Jiangsu Austin. On June 29, 2020, Mr. Tao Ling transferred his 100% equity interests in Suhong Yuanda to Nanjing Aosa. In June 2020, Nanjing Aosa entered into the VIE Agreements with the VIE Shareholders. After the reorganization, Ostin, through its subsidiary and the VIE arrangement, controlled an aggregate of 97.85% of the outstanding shares of Jiangsu Austin. The VIE Shareholders collectively owned 100% of the outstanding ordinary shares of Ostin, of which 39.99% and 9.51%, respectively, was owned by Mr. Tao Ling and Mr. Xiaohong Yin through their wholly owned holding companies.   Termination of the VIE Arrangements   In August 2021, shareholders of Jiangsu Austin entered into shares transfer agreements with the Company. Pursuant to the agreement, they agreed to transfer an aggregate of 39.97% of shares of Jiangsu Austin, which resulted in Nanjing Aosa, the Company’s WFOE, holding an aggregate of 97.85% of the shares of Jiangsu Austin following the completion of the share transfers. In February 2022, the Company fully terminated the VIE Arrangements and completed the reorganization of its corporate structure. As a result, the Company holds 97.85% of the issued and outstanding shares of Jiangsu Austin. Termination of the VIE agreement does not have impact on the Company’s consolidated financial position, results of operations and cash flows.   During the years presented in these consolidated financial statements, the control of the entities has never changed (always under the control of the Company). Accordingly, the combination has been treated as a corporate restructuring (“Reorganization”) of entities under common control and thus the current capital structure has been retroactively presented in prior periods as if such structure existed at that time and in accordance with ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which such entities were under common control. The consolidation of Ostin and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements.   The following diagram illustrates the Company’s corporate structure, including its subsidiaries as of the six months ended March 31, 2024.     The condensed consolidated financial statements included herein are unaudited. The balance sheet at September 30, 2023 has been derived from the audited consolidated financial statements as of that date. In the opinion of management, the unaudited condensed consolidated interim financial statements include all normal recurring adjustments necessary for a fair statement of the financial position as of March 31, 2024 and the results of operations and comprehensive income (loss) for the six months ended March 31, 2024 and 2023 and cash flows for the six months ended March 31, 2024 and 2023. Certain information and footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The results of operations and comprehensive income (loss) for the six months ended March 31, 2024 and cash flows for the six months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year. The condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F for the year ended September 30, 2023.   On November 20, 2023, Beijing Suhongyuanda Technology Co., Ltd. entered into an equity transfer agreement with Shenzhen Ou Xun Electronics Co., Ltd. (“Ou Xun”), under which Suhong Yuanda agreed to transfer 500,000 shares of Jiangsu Austin Optoelectronics Technology Co., Ltd. to Ou Xun for a total consideration of RMB1.3 million (RMB2.6 per share). The agreement stipulates that following the equity transfer, Jiangsu Austin's distributable profits will be allocated in proportion to the shareholding. Ou Xun is required to pay the full amount by June 30, 2024; failure to do so will result in the return of 1% of the shares, with Ou Xun also required to assist in completing the necessary procedures. As of June 30, 2024, Ou Xun had not made the required payment, triggering the share return and cooperation provisions. Consequently, the Company believes Ou Xun is in breach of contract, rendering the contract legally unenforceable and thus terminated. As of August 23, 2024, Jiangsu Austin has not yet received the shares back from Shenzhen Ou Xun Electronics Co., Ltd., but expects to complete this process in the near future.   On January 9, 2024, Sichuan Ausheet Electronic Materials Co., Ltd. (“Sichuan Ausheet”) entered into an equity transfer agreement with Nanjing Aoni Investment Management Partnership (Limited Partnership), a related party (“Nanjing Aoni”). Pursuant to the equity transfer agreement, Sichuan Ausheet transferred RMB10 million equity of Sichuan Auniuxin Materials Co., Ltd. (“Auniuxin”) to Nanjing Aoni. Consequently, Sichuan Ausheet’s share of ownership in Sichuan Auniuxin Materials Co., Ltd. dropped to 28.57% and the related party, Nanjing Aoni, owns the remaining 71.43%. As of March 31, 2024, Nanjing Aoni has funded RMB8.3 million into Auniuxin. Despite the change in ownership percentage, Sichuan Ausheet still maintained full control over Auniuxin’s operation. Therefore, Auniuxin continues to be included in the consolidated financial statements of the group. Mr. Ling Tao, CEO, the ultimate controller of Ostin, is also a controlling shareholder with 68.27% ownership of Nanjing Aoni, who now owns 71.43% of Auniuxin.

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES   Going Concern   As of March 31, 2024, the Company had current assets of $20,997,329 and current liabilities of $39,052,608. This means that the Company’s current liabilities exceeded its current assets, amounting to $18,055,279. Additionally, the Company incurred a net loss of $4,649,379 for the half year, resulting in an accumulated deficit of $ 13,107,089. This condition raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company may be unable to realize its assets and discharge its liabilities in normal course of business.   The Company meets its day-to-day working capital requirements through its bank facilities. Most of the bank borrowings as of March 31, 2024 that are repayable within the next 12 months are subject to renewal and the management is confident that these borrowings can be renewed upon expiration based on the Company’s past experience and credit history.   In order to strengthen the Company’s liquidity in the foreseeable future, the Company has taken the following measures: (i) Negotiating with banks in advance for renewal and obtaining new banking facilities; (ii) Diversifying financing channels includes but is not limited to methods such as equity financing, sale and leaseback; and (iii) Implementing various strategies to enhance sales and profitability.   The management has a reasonable expectation that the Company has adequate resources to continue in operational existence for 12 months from the filing date.   Basis of presentation and principles of consolidation   The accompanying condensed consolidated interim financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United Stated of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated upon consolidation. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair presentation of the Company’s financial position, its results of operations and its cash flows, as applicable, have been made. Interim results are not necessarily indicative of results to be expected for the full year. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto as of and for the years ended September 30, 2023 and 2022.   A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. Use of estimates   The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Such estimates include, but are not limited to, allowances for doubtful accounts, inventory valuation, useful lives of property, plant and equipment, intangible assets, and income taxes related to realization of deferred tax assets and uncertain tax position. Actual results could differ from those estimates.   Foreign currency translation   The financial records of the Company’s subsidiaries in China are maintained in their local currencies which are Chinese Yuan (“RMB”). Monetary assets and liabilities denominated in currencies other than their local currencies are translated into local currencies at the rates of exchange in effect at the consolidated balance sheet dates. Transactions denominated in currencies other than their local currencies during the year are converted into local currencies at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in other income, net in the consolidated statements of income and comprehensive income.   The Company and its subsidiaries in British Virgin Islands and Hong Kong maintained their financial record using the United States dollar (“USD”) as the functional currency, while the subsidiaries of the Company in mainland China maintained their financial records using RMB as the functional currency. The reporting currency of the Company is USD. When translating local financial reports of the Company’s subsidiaries into USD, assets and liabilities are translated at the exchange rates at the consolidated balance sheet date, equity accounts are translated at historical exchange rates and revenue, expenses, gains and losses are translated at the average rate for the period. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the consolidated statements of income and comprehensive income.   The relevant exchange rates are listed below:       March 31, 2024     September 30, 2023     March 31, 2023   Period ended RMB: USD exchange rate     7.2203       7.2960       6.8676   Period average RMB: USD exchange rate     7.2064       7.0533       6.9761     Cash and cash equivalents   The Company considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. The Company maintains most of the bank accounts in the PRC. Cash balances in bank accounts in PRC are not insured by the Federal Deposit Insurance Corporation or other programs.   Restricted cash   Restricted cash is certain portion of bank deposit used for pledging or guarantee purpose.   Accounts receivable and allowance for credit losses Accounts receivable is recognized and carried at original invoiced amount less an estimated allowance for credit losses. The Company usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Company establishes a provision for doubtful receivables when there is objective evidence that the Company may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on an aging analysis basis. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for credit losses after management has determined that the likelihood of collection is not probable.   Inventories   Inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the weighted-average method. The Company records adjustments to inventory for excess quantities, obsolescence or impairment when appropriate to reflect inventory at net realizable value. These adjustments are based upon a combination of factors including current sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory.   Advances to suppliers   Advances to suppliers refer to advances for purchase of materials or other services, which are applied against accounts payable when the materials or services are received.   The Company reviews a supplier’s credit history and background information before advancing a payment. If the financial condition of its suppliers were to deteriorate, resulting in an impairment of their ability to deliver goods or provide services, the Company would write off such amount in the period when it is considered as impaired. The allowance for advances to suppliers recognized for the six months ended March 31, 2024 and 2023 were $47,813 and $150,547, respectively.   Advances from customers   Advances from customers refer to advances received from customers regarding product sales, for which revenue is recognized upon delivery.   Property, plant and equipment, net   Property, plant, and equipment are recorded at cost less accumulated depreciation. Depreciation commences upon placing the asset in usage and is recognized on a straight-line basis over the estimated useful lives of the assets with 5% of residual value, as follows:       Useful Lives Buildings   20 years Machinery and equipment   5-10 years Transportation vehicles   4-5 years Office equipment   3-5 years Electronic equipment   3 years   Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of income and other comprehensive income in other income or expenses.   Leasehold Improvement   Leasehold improvement projects refer to the renovation, refurbishment, or decoration of leased premises or assets with the aim of enhancing efficiency and value. Leasehold improvement assets are initially measured at cost upon acquisition and are amortized over their estimated useful lives, typically the lease term. Amortization expense is recognized using the straight-line method.   Construction in progress   Construction in progress refers to ongoing or partially completed projects that the company is engaged in, including land development, new building construction, remodeling and renovation projects, among others. Construction in progress is measured using the cost model. The cost of construction in progress includes direct labor costs, material costs, subcontractor expenses, and interest expenses directly related to the project. The cost model is based on actual incurred expenses and is continuously updated.   Upon completion of the construction in progress, the company will apply the applicable accounting standards and policies to amortize the asset based on its estimated useful life and estimated fair value. The method of amortization will be determined based on the nature of the project and the company’s accounting policies.   Land use rights, net   Under the PRC law, all land in the PRC is owned by the government and cannot be sold to an individual or company. The government grants individuals and companies the right to use parcels of land for specified periods of time. These land use rights are sometimes referred to informally as “ownership.” Land use rights are stated at cost less accumulated amortization.       Rental period Land use rights   20-50 years   Intangible assets, net   Intangible assets consist of software and patent purchased from other companies and capitalized software developed by the Company, which are recorded at cost less accumulated amortization. Intangible assets are amortized using the straight-line method with the following estimated useful lives:       Useful lives Software   3 years Patent   10 years   Capitalized software represents software that is developed or purchased by an entity that will be sold, leased, or marketed as a stand-alone product as well as a software that will be sold as part of another product or process. All costs of developing software prior to establishing its technological feasibility are research and development costs and are expensed as incurred. Technological feasibility is achieved when an entity has completed all planning, designing, coding, and testing activities necessary to establish that the software product can be produced to meet its design specifications, including functions, features, and technical performance requirements. As described in ASC 985-20-25-1, this can be achieved through the use of either (1) a detail program design, or (2) the combination of a product design and working model, which have been confirmed for completeness by testing. Costs of developing software after establishing technological feasibility are recorded capitalized software.   The capitalized costs of developing software that will be sold, leased, or marketed will be amortized separately for each software product. An entity will begin amortizing the capitalized costs of the software when the product first becomes available for general release to customers.   For the six months ended March 31, 2024, the Company purchased intangible assets from third parties.   Lease   From the Perspective as a Lessee   The Company has three operating leases for manufacturing facilities and offices with no option to renew and the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. When each lease begins, the management evaluates factors such as the lease term, rental payment method, and transfer of control to determine whether it should be classified as an operating lease or finance lease. Effective October 1, 2019, the Company adopted the new lease accounting standard using a modified retrospective transition method which allowed the Company not to recast comparative periods presented in its consolidated financial statements. In addition, the Company elected the package of practical expedients, which allowed the Company to not reassess whether any existing contracts contain a lease, to not reassess historical lease classification as operating or finance leases, and to not reassess initial direct costs. The Company has not elected the practical expedient to use hindsight to determine the lease term for its leases at transition. The Company combines the lease and non-lease components in determining the ROU assets and related lease obligation. Adoption of this standard resulted in the recording of operating lease ROU assets and corresponding operating lease liabilities as disclosed in financial statements. For related leases before the adoption date October 1, 2019, ROU assets and related lease obligations are recognized at adoption date based on the present value of remaining lease payments over the lease term. For related leases after the adoption date, ROU assets and related lease obligations are recognized at commencement date based on the present value of remaining lease payments over the lease term.   From the Perspective as a Lessor   The Company leased a building to a third party for a period of 3 years starting in June 2021, without a purchase option at the end of the lease term. The Company classified this lease as an operating lease. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessee with the right to use the building. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease.   The Company also leased some equipment to third parties, without a purchase option at the end of the lease term, while lease term of those equipment leases is mostly from 3 to 6 months. The Company classified the leases as operating leases. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessees with the right to use the equipment. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease.   Long-term investment   Company’s long-term investment consists of equity investments without a readily determinable fair value.  Under ASC Topic 321, Accounting for Equity Securities and Equity Investment, a measurement alternative is allowed for equity securities without a readily determinable fair value. Under the measurement alternative, the investment is measured at cost minus impairment, if any, plus or minus changes results from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.   Convertible notes   In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging -Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. For share-settled convertible debt and convertible preferred stock, the if-converted method is typically used to account for diluted earnings per share. For public companies, the guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The company adopted this standard beginning October 1, 2023. Following the adoption of ASU 2020-06 Convertible notes are recorded and disclosed as convertible notes payable, net of unamortized discount.   Long-term payable   During the six months ended March 31, 2024, the Company has two transactions with two third-party for manufacturing facilities where the Company sold certain machinery located in China and subsequently leased the machinery back for 24 months. In these arrangements, the Company has no obligation to transferring the underlying asset to an unaffiliated third party or has a bargain purchase option at a price of RMB1 to buyback the underlying asset by the end of the lease term. All these machineries are currently being used by the Company for its production purpose. The Company determined that in these transactions, the control of the asset is not transferred for the following reasons: (1) under the circumstances of not paying the financial liabilities, the buyer-lessor has no call option on the asset; and (2) the seller-lessee has a call option on the asset, and a.) the option is exercisable at something other than fair value as of the exercise date, b.) no alternative assets are available that are substantially the same as the asset transferred.   The Company concluded these transactions were not qualified as sale-leaseback accounting and shall account as normal borrowings from third parties. For accounting purposes, the Company did not derecognize the transferred asset and accounts for any amounts received as a financial liability measured at amortized cost subsequent to initial recognition. The balances with these third-party lenders as of March 31, 2024 and September 30, 2023 are $983,163 and nil.   For the six months ended March 31, 2024 and 2023, the Company recognized interest expense of $8,116 and $5,992 on these loan payables, respectively.   Impairment of long-lived assets   The Company’s management reviews the carrying values of long-lived assets whenever events and circumstances, such as a significant decline in the asset’s market value, obsolescence or physical damage affecting the asset, significant adverse changes in the assets use, deterioration in the expected level of the assets performance, cash flows for maintaining the asset are higher than forecast, indicate that the net book value of an asset may not be recovered through expected future cash flows from its use and eventual disposition. If the estimated cash flows from the use of the asset and its eventual disposition are below the asset’s carrying value, then the asset is deemed to be impaired and written down to its fair value.   There was no impairment charge recognized for long-lived assets for March 31, 2024 and 2023.   Fair value measurement   Fair value measurements and disclosures requires disclosure of the fair value of financial instruments held by the Company. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:     ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.         ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.         ● Level 3 inputs to the valuation methodology use one or more unobservable inputs which are significant to the fair value measurement. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.   For the Company’s financial instruments, including cash and cash equivalents, accounts receivable, other receivables, accounts payable, due to related parties, notes receivable, notes payable, and short-term borrowing, the carrying amounts approximate their fair values due to their short maturities as of March 31, 2024 and 2023.   Value-added tax (“VAT”)   Sales revenue represents the invoiced value of goods, net of VAT. All of the Company’s products sold in the PRC are subject to a VAT on the gross sales price. The Company is subject a VAT rate of 13% effective on April 1, 2019. The VAT may be offset by VAT paid by the Company on raw materials and other materials included in the cost of producing or acquiring its finished products.   Revenue recognition    The Company generates its revenues mainly from sales of display modules and polarizers to third-party customers, who are mainly display manufacturers and end-brand customers. The Company follows Financial Accounting Standards Board (FASB) ASC 606 and accounting standards updates (“ASU”) 2014-09 for revenue recognition. On October 1, 2017, the Company has early adopted ASU 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company considers revenue realized or realizable and earned when all the five following criteria are met: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.     The Company considers customer purchase orders to be the contracts with a customer. As part of its consideration of the contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).   In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company offers customer warranty of six months to five years for defective products that is beyond contemplated defective rate mutually agreed in contract with customers. The Company analyzed historical refund claims for defective products and concluded that they have been immaterial.   Revenues are reported net of all VAT. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on their relative standalone selling price.   Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied at a point in time), which typically occurs at delivery. For international sales, the Company sells its products primarily under the free onboard (“FOB”) shipping point term. For sales under the FOB shipping point term, the Company recognizes revenues when products are delivered from Company to the designated shipping point. Prices are determined based on negotiations with the Company’s customers and are not subject to adjustment.   The Company also generates revenues from providing repair services. Revenues from repair service agreements are recognized at a point in time once the service is rendered to the customer. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).   The Company also generates revenues from providing research and development services. Revenues from research and development are mainly generated from video conferencing system development service. When the contract is awarded, the Company will develop the video conferencing system significantly customized to the needs of the customer. The duration of contracts ranges from nine months to twelve months. The Company develops the customized video conferencing system, which is combined output, to the customers. Therefore, each development contract is a single performance obligation under ASC 606-10-25-21. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent).    The Company is not able to sell the research and development services to another customer due to the individual customization of each contract and the Company has an enforceable right to payment for performance completed to date, which meets the criteria of the performance obligation over time under ASC 606-10-25-29. For performance obligations satisfied over time, the Company recognizes revenue over time by using the output method to measure the progress toward complete satisfaction of a performance obligation. The Company used the milestones reached method specified in each contract to determine the extent of progress toward completion.   Government subsidies   Government subsidies refer to the financial assistance provided by the government to enterprises, either in the form of monetary or non-monetary assets, without charge. These subsidies can be categorized into two types: subsidies related to assets and subsidies related to revenue.   Subsidies related to assets: These subsidies are obtained by enterprises and used for the acquisition or formation of long-term assets. Typically, the terms and conditions of the subsidy require the enterprise to utilize the funds for the acquisition of long-term assets. In terms of accounting treatment, there are two options available: i) Recognition as deferred income: The subsidy related to assets can be recognized as deferred income, which is gradually recognized in the income statement as the assets are utilized. ii)Reduction of the carrying value of assets: The subsidy can also be used to reduce the carrying value of the long-term assets, reflecting their actual acquisition costs.   Subsidies related to revenue: These subsidies, which are distinct from those related to assets, are primarily aimed at compensating enterprises for expenses or losses that have already occurred or are expected to occur. Due to their shorter benefit period, they are typically recognized in the income statement or used to offset related costs when the conditions of the subsidy are met.    For the six months ended March 31, 2024 and 2023, the Company received government subsidies of $228,673 and $479,152, respectively. The grants were recorded as other income in the consolidated financial statements.   Research and development costs   Research and development activities are directed toward the development of new products as well as improvements in existing processes. These costs, which primarily include salaries, contract services and supplies, are expensed as incurred.    Shipping and handling costs   Shipping and handling costs are expensed when incurred and are included in selling and marketing expense. Shipping and handling costs were $149,786 and $288,767 for the six months ended March 31, 2024 and 2023, respectively.   Income taxes   The Company accounts for income taxes using the asset and liability method whereby it calculates deferred tax assets or liabilities for temporary differences between the tax basis of assets and liabilities and their reported amounts in the unaudited consolidated financial statements, net operating loss carry forwards and credits by applying enacted tax rates applicable to the fiscal years in which those temporary differences are expected to be reversed or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The components of the deferred tax assets and liabilities are individually classified as non-current amounts.   The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.   To the extent applicable, the Company records interest and penalties as other expense. All of the tax returns of the Company’s PRC subsidiaries remain subject to examination by PRC tax authorities for five years from the date of filing. The fiscal year for tax purpose in PRC is December 31.   The Company is not subject to U.S. tax laws and local state tax laws. The Company’s income and that of its related entities must be computed in accordance with Chinese and foreign tax laws, as applicable, and all of which may be changed in a manner that could adversely affect the amount of distributions to shareholders. There can be no assurance that Income Tax Laws of PRC will not be changed in a manner that adversely affects shareholders. In particular, any such change could increase the amount of tax payable by the Company, reducing the amount available to pay dividends to the holders of the Company’s ordinary shares.   Earnings per share   Earnings per share is calculated in accordance with ASC 260 Earnings per Share. Basic earnings (loss) per share is computed by dividing the net income attributable to shareholders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share is computed in accordance with the treasury stock method and based on the weighted average number of ordinary shares and dilutive ordinary share equivalents. Dilutive ordinary share equivalents are excluded from the computation of diluted earnings per share if their effects would be anti-dilutive. There were no dilutive ordinary share equivalents outstanding during the six months ended March 31, 2024 and 2023.   Significant risks and uncertainties   Exchange Rate Risks   The Company operates in PRC, which may give rise to significant foreign currency risks mainly from fluctuations and the degree of volatility of foreign exchange rates between the USD and the RMB.    Currency Convertibility Risks   Substantially all of the Company’s operating activities are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with other information such as suppliers’ invoices, shipping documents and signed contracts.   Concentration of Credit Risks   Financial instruments that potentially subject the Company to concentration of credit risks consist primarily of cash and cash equivalents, restricted cash, accounts receivables, and notes receivable. The Company places its cash and cash equivalents, restricted cash, and note receivable in good credit quality financial institutions in Hong Kong and PRC. Concentration of credit risks with respect to accounts receivables is linked to the concentration of revenue. To manage credit risk, the Company performs ongoing credit evaluations of customers’ financial condition.   Interest Rate Risks   The Company is subject to interest rate risk. Although the Company’s interest-bearing loans carry fixed interest rates within the reporting period, the Company is still subject to the risk of adverse changes in the interest rates charged by the banks if and when these loans are refinanced.   Risks and Uncertainties   The operations of the Company are located in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by political, economic, and legal environments in the PRC, as well as by the general state of the PRC economy. The Company’s results may be adversely affected by changes in the political, regulatory and social conditions in the PRC. Although the Company has not experienced losses from these situations and believes that it is in compliance with existing laws and regulations including its organization and structure disclosed in Note 1, this may not be indicative of future results.   Reclassifications   Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.   Recent Accounting Pronouncements   The Company considers the applicability and impact of all accounting standards updates. Management periodically reviews new accounting standards that are issued.   In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This amends guidelines on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current U.S. GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current U.S. GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which amended the effective date of ASU 2016-13. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning April 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this policy has no material impact.   In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning October 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this guidance has no impact on the calculation of Company’s income taxes.   Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows.

Restricted Cash	6 Months Ended
	Mar. 31, 2024
Restricted Cash [Abstract]
RESTRICTED CASH	NOTE 3 – RESTRICTED CASH   Restricted cash as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023                 Pledge of bank deposit   $ 306,081     $ 302,906   Restricted cash   $ 306,081     $ 302,906     As of March 31, 2024 and September 30, 2023, restricted cash is certain portion of bank deposit used for pledging or guarantee purpose.

Accounts Receivable	6 Months Ended
	Mar. 31, 2024
Accounts Receivable [Abstract]
ACCOUNTS RECEIVABLE	NOTE 4 – ACCOUNTS RECEIVABLE   Accounts receivable as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Accounts receivable, gross   $ 4,889,970     $ 6,531,667   Less: allowance for credit losses     (82,032 )     (46,722 ) Accounts receivable, net   $ 4,807,938     $ 6,484,945     The Company’s customers are, for the most part, end-brand customers or their system integrators and display panel manufacturers. The Company’s credit policy typically requires payment within 30 to 120 days, and payments on the vast majority of its sales have been collected within 60 days. The average accounts receivable turnover period was approximately 138 days and 40 days for the six months ended March 31, 2024 and the fiscal years ended September 30, 2023 respectively.   Below is an aged analysis of accounts receivables as of March 31, 2024, respectively.       As of March 31, 2024       Accounts receivable,     Allowance for credit     Accounts receivable,       Gross     losses     Net       (Unaudited)     (Unaudited)     (Unaudited)   Within 90 days   $ 3,526,922     $ -     $ 3,526,922   91-180 days     605,879       -       605,879   181-365 days     108,973       (5,448 )     103,525   Greater than 1 year     648,196       (76,584 )     571,612   Accounts receivable, net   $ 4,889,970     $ (82,032 )   $ 4,807,938     Changes of allowance for credit losses for the six months ended March 31, 2024 and September 30, 2023 are as follows:       As of     As of       March 31,     September 30,       2024     2023       (Unaudited)         Beginning balance   $ 46,722     $ 33,184   Additional reserve through bad debt expense     35,310       13,538   Bad debt write-off                 Ending balance   $ 82,032     $ 46,722     Bad debt expense for doubtful accounts receivables recorded by the Company for the six months ended March 31, 2024 was $35,310 and $13,538 was the additional bad debt expense for the year ended September 30, 2023 respectively.

Inventories	6 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
INVENTORIES	NOTE 5 – INVENTORIES   Inventories as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Raw materials   $ 7,622,283     $ 9,016,981   Work in process     904       -   Finished goods     5,079,193       5,133,030   Goods in transit     159,493       1,714,861   Inventory provision     (1,739,721 )     (1,445,947 ) Total inventories, net   $ 11,122,152     $ 14,418,925     Goods in transit of $159,493 and $1,714,861 as of March 31, 2024 and September 30, 2023 refer to the inventory items that have been shipped out from the Company but yet to be received by the Company’s customers or the designated shipping points. For sales from domestic customers, control of the product is transferred to the customer upon delivery. For sales from international customers, the Company sells its products primarily under FOB shipping point term and control of the product is transferred upon delivery to the designated shipping point.   For the six months ended March 31, 2024 and 2023, the Company recorded an inventory provision of $293,774 and $224,461, respectively, presented in cost of sales in the Company’s statement of income and comprehensive income.

Property, Plant and Equipment, Net	6 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment, Net [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET   Property, plant and equipment as of March 31, 2024, and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Buildings   $ 19,838,425     $ 20,258,258   Machinery and equipment     7,674,462       7,576,777   Electronic equipment     2,042,320       2,234,455   Transportation vehicles     341,468       337,925   Office equipment     294,822       283,972   Leasehold improvement     439,646       301,399   Construction in progress     1,696,062       1,654,405   Total property plant and equipment, at cost     32,327,205       32,647,191   Less: accumulated depreciation     (8,593,384 )     (7,591,164 ) Property, plant and equipment, net   $ 23,733,821     $ 25,056,027     Depreciation expense was $1,192,368 and $1,177,801 for the six months ended March 31, 2024 and 2023, respectively. For the six months ended March 31, 2024 and 2023, the Company recorded no impairment of property, plant and equipment.     For the six months ended March 31, 2024 and 2023, the Company purchased new property plant and equipment of $591,277 and $1,294,113, respectively. For the six months ended March 31, 2024 and 2023, the Company also spent approximately $24,359 and $3,640,520 for the construction in progress regarding building and equipment, respectively.   For the six months ended March 31, 2024, the Company disposed machinery, equipment and transportation vehicles with a net book value of $373,778 (cost of $635,843, accumulated depreciation of $262,065) and received cash from disposal of $455,532, causing a net disposal income of $81,036 included in operating income. For the six months ended March 31, 2023, the Company disposed machinery, equipment and transportation vehicles with a net book value of $205,928 (cost of $290,302, accumulated depreciation of $84,374) and received cash from disposal of $366,216, causing a net disposal income of $160,288 included in operating income. The disposal was related to cutting maintenance cost of idle machinery, equipment, and transportation, and thus improving the production efficiency after the disposal.   As of March 31, 2024 and September 30, 2023, the construction in progress assets were related to construction of manufacturing facilities for the Company.   As of March 31, 2024 and September 30, 2023, the Company pledged buildings to secure banking facilities granted to the Company. The carrying values of the pledged buildings to secure bank borrowings by the Company are shown in Note 13.

Land Use Rights, Net	6 Months Ended
	Mar. 31, 2024
Land Use Rights, Net [Abstract]
LAND USE RIGHTS, NET	NOTE 7 – LAND USE RIGHTS, NET   Land use rights as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Land use rights, at cost   $ 1,752,534     $ 1,734,351   Less: accumulated amortization     (300,319 )     (252,756 ) Total land use rights, net   $ 1,452,215     $ 1,481,595     Amortization expense for land use rights were $45,000 and $44,917 for the six months ended March 31, 2024 and 2023 respectively. For the six months ended March 31, 2024 and 2023, the Company recorded no impairment for land use rights, nor pledged land use rights to secure bank loans.   Estimated future amortization expense for land use rights is as follows as of March 31, 2024:   12 months ended March 31,   Amortization expense           2025   $ 89,828   2026     89,828   2027     89,828   2028     89,828   2029     89,828   Thereafter     1,003,075   Total   $ 1,452,215

Intangible Assets, Net	6 Months Ended
	Mar. 31, 2024
Intangible Assets, Net [Abstract]
INTANGIBLE ASSETS, NET	NOTE 8 – INTANGIBLE ASSETS, NET   Intangible assets, net as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Purchased software, cost   $ 962,789     $ 952,800   Purchased patent, cost     2,221,085       2,080,949   Capitalized software, cost     3,390,701       3,371,856   Total intangible assets, at cost     6,574,575       6,405,605   Less: accumulated amortization     (1,880,377 )     (1,427,523 ) Intangible assets, net   $ 4,694,198     $ 4,978,082     For the six months ended March 31, 2024, the Company purchased patent rights of $103,276 from third-party supplier, but did not purchase any software from third-party supplier or developed any new capitalized software. The increase in the amount of capitalized software compared to September 30, 2023, is due to the impact of exchange rate fluctuations.     Amortization expense for intangible assets were $440,000 and $213,300 for the he six months ended March 31, 2024 and 2023, respectively. The increase in the amortization amount of intangible assets in the current period is due to the capitalization of a software as of September 30, 2023. For the six months ended March 31, 2024 and March 31, 2023, the Company recorded no impairment of intangible asset, nor pledged intangible asset to secure bank loans.   Estimated future amortization expense for intangible assets is as follows as of March 31, 2024:   12 months ended March 31,   Amortization expense           2025   $ 878,306   2026     878,306   2027     878,306   2028     878,306   2029     878,306   Thereafter     302,668   Total   $ 4,694,198

Long-Term Investment	6 Months Ended
	Mar. 31, 2024
Long-Term Investment [Abstract]
LONG-TERM INVESTMENT	NOTE 9 – LONG-TERM INVESTMENT   In July 2022, the Company made an investment in Nanjing Baituo Visual Technology Co., Ltd (“Nanjing Baituo”) by RMB1,500,000 ($223,881, exchange rate 6.7000)   with equity percentage of 15%. The Company has no significant influence in Nanjing Baituo’s operation as the Company does not dedicate any members on the Board of Directors of Nanjing Baituo or participate in its management and daily operation. As of March 31, 2024, the Company carried the investment at its cost in the amount of $207,748. Nanjing Baituo is principally engaged in the operation of software development in artificial intelligence and virtual reality and manufacturing in wearable smart devices. As of March 31, 2024, there has been no impairment of the long-term investment in Nanjing Baituo Company.

Other Long-Term Receivable	6 Months Ended
	Mar. 31, 2024
Other Long-Term Receivable [Abstract]
OTHER LONG-TERM RECEIVABLE	NOTE 10 – OTHER LONG-TERM RECEIVABLE   Other long-term receivable as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Other long-term receivables   $ 267,823     $ 248,011   Total   $ 267,823     $ 248,011     The long-term receivables mainly consist of performance guarantees for project investments and deposits for establishing online stores on various e-commerce platforms. As of March 31, 2024, these long-term receivables, with an age range of 3 to 5 years, are projected to be recovered upon conclusion of the project.

Convertible Notes	6 Months Ended
	Mar. 31, 2024
Convertible Notes [Abstract]
CONVERTIBLE NOTES	NOTE 11 – CONVERTIBLE NOTES   On January 19, 2024, the Company entered into a securities purchase agreement with Streeterville Capital, LLC, a Utah limited liability company relating to the issuance and sale of a senior unsecured convertible note in the principal amount of $550,000, at a purchase price of $500,000. The Note is convertible into ordinary shares, par value $0.0001 per share, of the Company.   On January 22, 2024, the Company completed its issuance and sale to the Buyer of the Note pursuant to the Securities Purchase Agreement. The gross proceeds from the sale of the Note were $500,000, prior to deducting transaction fees and estimated expenses.   The Note bears a simple interest at a rate of 7% per annum. All outstanding principal and accrued interest on the Note will become due and payable on January 22, 2025 (the “Maturity Date”), which is twelve (12) months after the purchase price of the Note is delivered by the Buyer to the Company. The Note includes an original issue discount of $40,000, along with $10,000 for the Buyer’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Note.   The Note has a redemption conversion price (the “Conversion Price”) equal to eighty percent (80%) of the lowest daily VWAP (the dollar volume-weighted average price for ordinary shares on the Nasdaq Capital Market) during the ten (10) consecutive trading days immediately preceding the conversion date or other date of determination, but not lower than US$0.1436 (or such lower amount as permitted, from time to time, by Nasdaq or other principal market) per ordinary share (the “Floor Price”). Beginning on the date that is six (6) months from the Purchase Price Date until the Outstanding Balance (each as defined in the Note) has been paid in full, the Buyer may convert the Note at its option into ordinary shares at the Conversion Price up to the Maximum Monthly Redemption Amount (as defined in the Note), provided that, in no event shall there be an Equity Conditions Failure Amount on the applicable Redemption Date (each as defined in the Note), and such failure is not waived in writing by the Buyer; or shall the Conversion Price be less than the Floor Price. The Company may, at its election, prepay all or any portion of the Outstanding Balance under the Note prior to the Maturity Date at a cash price equal to 120% of the portion of the Outstanding Balance to be prepaid.   Upon the occurrence of a Trigger Event (as defined in the Note), the Buyer shall have the right to increase the balance of the Note by 15% for Major Trigger Event (as defined in the Note) and 5% for Minor Trigger Event (as defined in the Note), which are at 25% in the aggregate. In addition, the Note provides that upon the occurrence of an Event of Default (as defined in the Note), the interest rate shall accrue on the Outstanding Balance at the rate equal to the lesser of 22% per annum or the maximum rate permitted under applicable law.  As of March 31, 2024, the Company has not experienced any events triggering the provisions. During this reporting period, the company has been experiencing losses. Including the converted common shares in the diluted earnings per share calculation would reduce the loss per share, resulting in an anti-dilutive effect. Therefore, the converted common shares have not been considered in the calculation of diluted earnings per share.   The amortized cost of the convertible notes as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)     -   Convertible Notes- Issued in Jan, 2024   $ 550,000     $      -   Less debt discount and debt issuance cost     38,970       -         511,030       -   Less current portion of convertible notes payable     511,030       -   Long-term convertible notes payable   $ -     $ -     During the six months ended March 31, 2024 and 2023, the Company recognized interest expense on convertible notes payable of $9,625 and nil, and amortization of debt discount, included in interest expense of $11,030 and nil, respectively.   On June 24, 2024, the Company repaid the convertible promissory note dated January 19, 2024 in full, and the investor released the Company from any and all obligations and liabilities under the note. As a result, the note was deemed paid in full, canceled and of no further force or effect.

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Mar. 31, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 12 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES   Accrued expenses and other current liabilities as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Deferred government subsidies   $ 885,209     $ 910,709   Tax payable     120,439       54,174   Wages Payable     137,705       105,079   Interest payable     85,557       304,222   Other payables and accruals     790,945       669,646   Total   $ 2,019,855     $ 2,043,830     Deferred government subsidies were government subsidies the Company received from the local governments related to certain assets that will be amortized in the depreciated periods of the assets.

Borrowings	6 Months Ended
	Mar. 31, 2024
Borrowings [Abstract]
BORROWINGS	NOTE 13 – BORROWINGS   Borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Short-term bank loans   $ 18,835,782     $ 16,036,184   Short-term loans from third-party individuals and entities*     7,264,299       7,879,608   Total   $ 26,100,081     $ 23,915,792     * As of March 31, 2024, the third-party loan balance includes a short-term loan of $387,796 from Chengdu Airport Factoring Company, with another third party, Chengdu Juyuan Company, providing a guarantee for the loan. Per the agreement among all parties, Jiangsu Austin has pledged its investment of $8.31 million, representing a 50% equity stake in Sichuan Ausheet, to secure the guarantee provided by Chengdu Juyuan Company. The equity pledge remains in effect as long as Sichuan Ausheet has an outstanding loan balance owed to Chengdu Airport Factoring Company. Upon repayment of the loan, Jiangsu Austin retains the right to dispose of the 50% pledged equity. There was no outstanding balance of the loan with Chengdu Airport Factoring Company as of September 30, 2023, hence no pledge at the time for this loan.   Short-term bank loans as of March 31, 2024 consisted of the following:   Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Nanjing*     19,000,000       2,631,470     7/21/2023   7/1/2024     3.70 % Bank of Nanjing*     1,000,000       138,498     7/21/2023   7/1/2024     3.70 % Bank of China*     4,000,000       553,994     7/27/2023   7/25/2024     3.42 % Bank of China*     4,000,000       553,994     7/26/2023   7/24/2024     3.42 % Bank of Ningbo*     10,000,000       1,384,984     6/21/2023   6/20/2024     4.55 % Bank of Jiangsu*     5,000,000       692,492     8/15/2023   8/14/2024     4.05 % Bank of Jiangsu*     3,000,000       415,495     8/15/2023   8/14/2024     4.05 % Bank of Bei Jing*     10,000,000       1,384,984     4/28/2023   4/27/2024     3.65 % Bank of Communication     6,000,000       830,990     11/24/2023   11/23/2024     4.35 % Postal Savings Bank of China*     20,000,000       2,769,968     1/2/2024   12/31/2024     3.45 % Bank of Communication*     9,000,000       1,246,486     6/29/2023   6/28/2024     3.70 % Bank of China*     3,000,000       415,495     1/23/2024   6/30/2024     3.05 % Bank of Cheng Du     5,000,000       692,492     7/25/2023   7/24/2024     5.65 % Bank of China     10,000,000       1,384,984     8/21/2023   8/21/2024     5.55 % Chengdu Rural Commercial Bank     10,000,000       1,384,984     12/22/2023   12/21/2024     3.55 % China Construction Bank     5,000,000       692,492     3/11/2024   3/10/2025     3.95 % Bank of Zijin Rural Commercial***     2,000,000       276,997     3/29/2023   3/28/2025     4.35 % Bank of Zijin Rural Commercial**     4,750,000       657,867     3/3/2023   3/3/2025     4.35 % Bank of Zijin Rural Commercial**     5,250,000       727,116     1/31/2023   1/20/2025     4.35 % Total     136,000,000     $ 18,835,782                     * As of March 31, 2024 a total of $13,018,850 short-term loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. ** As of March 31, 2024, a total of $1,384,984 long-term bank loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. *** As of March 31, 2024, a total of $276,997 bank loans were obtained through pledging a fixed certificate of deposit worth $306,081, of which $306,081 is included in the restricted cash.   For the six months ended March 31, 2024 and 2023, interest expense on short-term bank borrowings amounted to $537,018 and $566,254, respectively.   Short-term bank loans as of September 30, 2023 consisted of the following:   Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Nanjing*     19,000,000       2,604,167     7/21/2023   7/1/2024     3.70 % Bank of Nanjing*     1,000,000       137,061     7/21/2023   7/1/2024     3.70 % Bank of China*     4,000,000       548,246     7/27/2023   7/25/2024     3.42 % Bank of China*     2,000,000       274,123     7/27/2023   2/26/2024     3.42 % Bank of China*     4,000,000       548,246     7/26/2023   7/25/2024     3.42 % Bank of Ningbo     10,000,000       1,370,613     6/21/2023   6/15/2024     4.55 % Bank of Jiangsu     5,000,000       685,307     8/15/2023   8/14/2024     4.05 % Bank of Jiangsu     3,000,000       411,184     8/15/2023   8/13/2024     4.05 % Agricultural Bank of China     10,000,000       1,370,614     11/9/2022   11/1/2023     3.65 % Bank of Beijing     10,000,000       1,370,614     4/28/2023   4/27/2024     3.65 % Bank of Nanjing*     5,000,000       685,307     5/17/2023   11/14/2023     3.80 % Bank of Communications     9,000,000       1,233,553     6/29/2023   6/28/2024     3.70 % Bank of China*     10,000,000       1,370,614     6/29/2023   1/28/2024     3.65 % Agricultural Bank of China*     10,000,000       1,370,614     1/1/2023   1/1/2024     3.65 % Bank of Chengdu*     5,000,000       685,307     7/25/2023   7/24/2024     5.65 % Bank of China*     10,000,000       1,370,614     8/21/2023   8/21/2024     5.55 % Total     117,000,000     $ 16,036,184                     * As of September 30, 2023, a total of $9,594,299 short term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.   Short-term borrowings also include loans from various individuals that are unsecured, due on demand, and bear interest of 4.42%. The total amount of these loans was $7,264,299 and $7,879,608 as of March 31, 2024 and September 30, 2023, respectively. The Company recorded interest expense of $568,495 and $121,498 for the six months ended March 31, 2024 and 2023, respectively.   Long-term borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:       March 31, 2024      September 30, 2023     Long-term bank loans   $             -     $ 1,644,737   Total   $ -     $ 1,644,737     For the six months ended March 31, 2024 and 2023, interest expense on all long-term borrowings amounted to nil and 7,491, respectively.   Long-term bank loans as of September 30, 2023 consisted of the following:   Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Zijin Rural Commercial*     2,000,000       274,123     3/29/2023   3/28/2025     4.35 % Bank of Zijin Rural Commercial**     4,750,000       651,042     3/3/2023   3/3/2025     4.35 % Bank of Zijin Rural Commercial**     5,250,000       719,572     1/31/2023   1/20/2025     4.35 % Total     12,000,000     $ 1,644,737                     * As of September 30, 2023, a total of $274,123 bank loans were obtained through pledging a fixed certificate of deposit worth $302,906, of which $302,906 is included in the restricted cash.     ** As of September 30, 2023, a total of $1,370,614 long term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.   The Company’s bank loans are guaranteed by the Company’s major shareholder, Mr. Tao Ling and his immediate family members, third-party individuals, and third-party companies. See Note 16 – Related Party Transactions for more information on guaranty provided by Mr. Tao Ling and his immediate family members. Certain Company’s assets were also pledged to secure the banks loans. The details of the pledges of assets are as follows:       March 31,     September 30,       2024     2023       (Unaudited)         Buildings, net   $ 819,422     $ 845,878   Bank deposit     306,081       302,906   Total   $ 1,125,503     $ 1,148,784

Long-Term Payables	6 Months Ended
	Mar. 31, 2024
Long-Term Payables [Abstract]
Long-term payables	NOTE 14 – Long-term payables   The company has entered into a contract with a third-party construction company for the construction of a factory building. As of July 2023, the construction of the factory building has been completed and is in the expected usable state. According to the terms of the contract, 3% of the total contract price will be withheld as a quality guarantee deposit for the factory building, which will be paid to the supplier after a period of 2 years if the building has no quality issues. This matter constitutes a long-term payable.   During the six months ended March 31, 2024, the Company has two transactions with two third-party for manufacturing facilities where the Company sold certain machinery located in China and subsequently leased the machinery back for 24 months. In these arrangements, the Company has no obligation to transferring the underlying asset to an unaffiliated third party or has a bargain purchase option at a price of RMB1 to buyback the underlying asset by the end of the lease term. The Company concluded these transactions were not qualified as sale-leaseback accounting and shall account as normal borrowings from third parties. For accounting purposes, the Company did not derecognize the transferred asset and accounts for any amounts received as a financial liability measured at amortized cost subsequent to initial recognition. The balances with these third-party lenders as of March 31, 2024 is $983,163.   Long-term borrowings as of September 30, 2024 and September 30, 2023 consisted of the following:       March 31,     September 30,       2024     2023       (Unaudited)         Long- term payable (from guarantee deposit)   $ 274,438     $ 271,590   Long- term payable (from financial lease   )     1,080,128       -   Less unrecognized financing expense     96,965       -         1,257,601       271,590   Less current portion of long-term payable     532,426       -       $ 725,175     $ 271,590

Customer and Supplier Concentrations	6 Months Ended
	Mar. 31, 2024
Customer and Supplier Concentrations [Abstract]
CUSTOMER AND SUPPLIER CONCENTRATIONS	NOTE 15 – CUSTOMER AND SUPPLIER CONCENTRATIONS   Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases, respectively.   For the six months ended March 31, 2024, the Company had two significant customers which accounted for 32.7% and 10.6% of the Company’s total revenue, respectively. As of March 31, 2024, the Company had accounts receivable balances from five customers which accounted for 30.8%, 14.2%,12.6%,12.2% and 12.0% of the Company’s total accounts receivable balance.     For the six months ended March 31, 2023, the Company had two significant customers which accounted for 45.6% and 23.1% of the Company’s total revenue, respectively. As of March 31, 2023, the Company had accounts receivable balances from one customer which accounted for 48.2% of the Company’s total accounts receivable balance.   The loss of any of the Company’s significant customer or the failure to attract new customers could have a material adverse effect on the Company’s business, consolidated results of operations and financial condition.   For the six months ended March 31, 2024, two suppliers accounted for 42.4% and 16.1% of the Company’s total purchase of raw materials, respectively. As of March 31, 2024, the Company had accounts payable balance to two suppliers which accounted for 34.3% and 11.5% of the Company’s total accounts payable balance.   For the six months ended March 31, 2023, two suppliers accounted for 42.2% and 12.2% of the Company’s total purchase of raw materials, respectively. As of March 31, 2023, the Company had accounts payable balance to one supplier which accounted for 80.5% of the Company’s total accounts payable balance.   The loss of any of the Company’s significant supplier or the failure to purchase key raw material could have a material adverse effect on our business, consolidated results of operations and financial condition.

Related Party Transactions	6 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 16 – RELATED PARTY TRANSACTIONS   1) Nature of relationships with related parties:   Name     Relationship with the Company Tao Ling   Principal shareholder, Chief Executive Officer and Chairman of the Company Xiaohong Yin   Principal shareholder and director of the Company Bozhen Gong   Immediate family member of Tao Ling Yun Tan   Immediate family member of Tao Ling Rongxin Ling   Immediate family member of Tao Ling Peizhen Zhang   Immediate family member of Tao Ling Ying Ling   Immediate family member of Tao Ling Jing Ling   Immediate family member of Tao Ling Nanjing Shun yi Jing Electric Technology Co., Ltd.   Principal shareholder is immediate family member of Tao Ling Luzhou Nachuan Investment Limited   An entity which owns 5% equity interest of Luzhou Aozhi Midea International Co., Ltd*   Principal shareholder of the company Nanjing Aoni Investment Management Partnership (Limited Partnership) **   An entity which owns 71.43% equity interest of Auniuxin     * Midea International Co., Ltd became a new related party in January 2024 through a private placement issuance ** Nanjing Aoni Investment Management Partnership (Limited Partnership) became a new related party in January 2024 through its investment in Auniuxin.   2) Related party borrowings   For the six months ended March 31, 2024, the Company’s related parties provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and interest free. The following table summarizes borrowing transactions with the Company’s related parties:       Borrowing/     Payment/       Collecting     Lending   Name of Related Parties   Amount     Amount   Tao Ling   $ 416,297     $ 416,297   Xiaohong Yin     1,706,816       2,092,403   Rongxin Ling     208,148       -   Peizhen Zhang     152,642       -   Bozhen Gong     83,259       -   Ying Ling     83,259       -   Jing Ling     194,272       55,506   Yun Tan     -       180,395   Nanjing Shun yi Jing Electric Technology Co., Ltd.     763,210       126,277   Midea International Co., Ltd     1,859,000       1,608,000   Total   $ 5,466,903     $ 4,478,878     For the six months ended March 31, 2024, a total of $13,018,850 bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024.     For the six months ended March 31, 2023 the Company’s related parties provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and interest free. The following table summarizes borrowing transactions with the Company’s related parties:        Borrowing/     Payment/       Collecting     Lending   Name of Related Parties   Amount     Amount   Tao Ling   $ 394,203     $ 143,347   Xiaohong Yin     1,799,173       236,694   Bozhen Gong     71,673       301,028   Total   $ 2,265,049     $ 681,069     For the six months ended March 31, 2023, a total of $5,387,616 bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2023.   3) Related party transactions       Sales     Sales   Name of Related Parties   March 31, 2024     March 31, 2023   Midea International Co., Ltd     66,206                -   Total   $ 66,206     $ -     On January 9, 2024, Sichuan Ausheet entered into an equity transfer agreement with Nanjing Aoni, a related party. Pursuant to the equity transfer agreement, Sichuan Ausheet transferred RMB10 million equity of Auniuxin to Nanjing Aoni, resulting in Nanjing Aoni owning the 71.43% of Auniuxin. As of March 31, 2024, Nanjing Aoni has funded RMB8.3 million into Auniuxin. Mr. Ling Tao, CEO, the ultimate controller of Ostin, is also a controlling shareholder with 68.27% ownership of Nanjing Aoni.   4) Related party balances   Outstanding balances with related parties consisted of the following as of March 31, 2024 and September 30, 2023:   Accounts   Name of Related Parties   March 31, 2024     September 30, 2023   Due from related parties   Midea International Co., Ltd     66,206                         -   Total due from related parties       $ 66,206     $ -     Accounts   Name of Related Parties   March 31, 2024      September 30, 2023   Due to related parties   Xiaohong Yin   $ 1,343,434     $ 1,710,347   Due to related parties   Bozhen Gong     152,348       68,531   Due to related parties   Yun Tan     -       178,180   Due to related parties   Rongxin Ling     346,246       137,061   Due to related parties   Peizhen Zhang     263,147       109,649   Due to related parties   Ying Ling     221,597       137,061   Due to related parties   Jing Ling     138,498       -   Due to related parties   Nanjing Shun yi Jing Electric Technology Co., Ltd.     1,307,425       664,748   Due to related parties   Midea International Co., Ltd     451,000       -   Total due to related parties       $ 4,223,696     $ 3,005,577

Stockholders’ Equity	6 Months Ended
	Mar. 31, 2024
Stockholders’ Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 17 – STOCKHOLDERS’ EQUITY   Ordinary Shares   Based on the shareholder meeting held on March 28, 2024, the company decided to adjust its authorized share capital from 500,000,000 shares at $0.0001 per share to 5,000,000,000 shares at $0.0001 per share. This adjustment includes 4,991,000,000 Class A ordinary shares, 8,000,000 Class B ordinary shares, and 1,000,000 preference shares.   Additionally, the company re-designated 16,806,250 issued ordinary shares with a par value of US$0.0001 each into 16,806,250 Class A ordinary shares with the same par value. Furthermore, the company issued 2,000,000 Class B Ordinary Shares and utilized the proceeds to repurchase 2,000,000 Class A Ordinary Shares held by SHYD Investment Management Limited, at a repurchase amount equivalent to the aggregate par value of $200. Upon completion of the repurchase, these 2,000,000 Class A Ordinary Shares were canceled. Following the repurchase and issuance of Class B Ordinary Shares, the company’s total issued share capital remained unchanged, and the authorized share capital was not reduced. There are currently 16,806,250 issued and outstanding ordinary shares, including 14,806,250 Class A ordinary shares and 2,000,000 Class B ordinary shares. Mr. Tao Ling holds 12.89% of the Class A ordinary shares and 100% of the Class B ordinary shares through his wholly owned holding company, while Mr. Xiaohong Yin holds 6.5% of the Class A ordinary shares through his wholly owned holding company. A Class A Ordinary Share shall (in respect of such Class A Ordinary Share) have one vote for every Class A Ordinary Share of which he is the holder. A Class B Ordinary Share shall (in respect of such Class B Ordinary Share) have 20 votes for every Class B Ordinary Share of which he is the holder. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.   Private placement   On January 31, 2024, the company entered into a Subscription Agreement for a private placement with MIDEA INTERNATIONAL CO., LIMITED. Pursuant to the Subscription Agreement, the company agreed to issue and sell 2,800,000 unregistered ordinary shares at a purchase price of US$0.35 per share. The issuance of these unregistered ordinary shares is exempt from registration, and the Purchaser is subject to certain lock-up arrangements for a period of forty-five (45) days. The company received US$980,000 in proceeds from the private placement unregistered of ordinary shares. The financing closed on February 7, 2024.     On March 28, 2024, according to the resolution of the shareholders’ meeting, the company issued 2 million Class B ordinary shares to SHYD Investment Management Limited at an issuance price of $0.0001 per share. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.   Dividends   Dividends declared by the Company are based on the distributable profits as reported in its statutory financial statements reported in accordance with PRC GAAP, which may differ from the results of operations reflected in the consolidated financial statements prepared in accordance with US GAAP. The Company’s ability to pay dividends is primarily from cash received from its operating activities in the PRC. No dividends were declared or paid by the Company for the six months ended March 31, 2024 and 2023.   Statutory Reserve   The Company is required to make appropriations to certain reserve funds, comprising the statutory reserve and the discretionary reserve, based on after-tax net income determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary reserve are made at the discretion of the Board of Directors of each of the Company PRC subsidiaries. The reserved amounts as determined pursuant to PRC statutory laws totaled $1,497,772 and $1,497,771 as of March 31, 2024 and September 30, 2023, respectively.   Under PRC laws and regulations, paid-in capital and statutory reserves are restricted to set-off against losses, expansion of production and operation and increasing registered capital of the respective company, and are not distributable other than upon liquidation. The reserves are not allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor allowed for distribution except under liquidation.   Non-controlling Interests   Non-controlling interests represent the interest of non-controlling shareholders in the Company’s subsidiaries based on their proportionate interests in the equity of that company adjusted for its proportionate share of income or losses from operations. The non-controlling interests were $1,378,821 and $130,220 as of March 31, 2024 and September 30, 2023, respectively.

Other Income (Expenses), Net	6 Months Ended
	Mar. 31, 2024
Other Income (Expenses), Net [Abstract]
OTHER INCOME (EXPENSES), NET	NOTE 18 – OTHER INCOME (EXPENSES), NET   Other income (expenses), net for the six months ended March 31, 2024 and March 31, 2023 consisted of the following:       For the six months       March 31,       2024     2023       (Unaudited)     (Unaudited)   Government subsidies*   $ 228,673     $ 479,152   Other miscellaneous non-business income (loss)     16,200       20,830   Total other income (expenses), net   $ 244,873     $ 499,982     * Government subsidies as the compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related cost are recognized in profit or loss in the period in which they become receivable. Government subsidies as the support for certain assets were recorded in deferred government subsidies and are amortized in the future periods. For six months ended March 31, 2024 and 2023, the Company recorded government subsidies of $228,673 and $479,152 respectively.

Lease	6 Months Ended
	Mar. 31, 2024
Lease [Abstract]
LEASE	NOTE 19 – LEASE   From the Perspective as a Lessee   The company entered into lease agreements for production, manufacturing, and office space in September 2017 and November 2022, respectively, with lease durations ranging from 2 to 3 years. These lease contracts provide the necessary production and office spaces for the company to support its business operations. The lease contracts for manufacturing facilities and offices do not have options for renewal, and there are no significant residual value guarantees or significant restrictive covenants included in the lease agreements.   In determining whether a contract contained a lease, we determined whether an arrangement was or included a lease at contract inception. Operating lease right-of-use asset and liability were recognized at commencement date and initially measured based on the present value of lease payments over the defined lease term.   When determining the discount rate, we consider the average interest rate (4.35%) of our two-year loans and calculate the present value of lease payments based on the information provided by the contract start date. The amortization expense of the Right-of-Use (ROU) asset is recognized on a straight-line basis over the lease term.   As of March 31, 2024 and September 30, 2023, the balances of ROU assets and liabilities, along with other information, are presented in the following table:       March 31, 2024     September 30, 2023   Assets             Operating leases   $ 87,986     $ 141,772   Total right-of-use asset   $ 87,986     $ 141,772           March 31, 2024      September 30, 2023     Liabilities             Operating leases   $            -      $ (116,895 ) Lease Liability-current     -       (104,000 ) Lease Liability-Non current     -       (12,895   Total lease liability   $ -     $ (116,895 )   As of March 31, 2024, and September 30, 2023, the total cash payments for operating leases amounted to $119,640 and nil, respectively, with $118,248 and nil allocated to principal payments and $1,292 and nil allocated to interest payments.   The Company reviews its ROU assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. No impairment loss on ROU assets was recorded as of March 31, 2024 and September 30, 2023.   From the Perspective as a Lessor   The company leased a building to a third party for a period of 3 years starting in June 2021, without a purchase option at the end of the lease term. The company classified this lease as an operating lease. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the company has provided the lessee with the right to use the building. The company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease. This lease agreement expires on December 31, 2023.

Income Taxes	6 Months Ended
	Mar. 31, 2024
Income Taxes [Abstract]
INCOME TAXES	NOTE 20 – INCOME TAXES   Enterprise Income Taxes (“EIT”)   The Company is incorporated in Cayman Island as an offshore holding company and is not subject to tax on income or capital gain under the laws of Cayman Island.   Ostin BVI is incorporated in BVI as an offshore holding company and is not subject to tax on income or capital gain under the laws of BVI.   Ostin HK and Austin Optronics are established in Hong Kong and are subject to statutory income tax rate at 16.5%.   The PRC subsidiaries of the Company are subject to statutory income tax rate at 25%.   The Company’s main operating subsidiary in PRC was certified as a High and New Technology Enterprise (“HNTE”) and enjoys a preferential tax rate of 15% since 2013, and the HNTE certificate needs to be renewed every three years. The subsidiary was eligible for a 15% preferential tax rate for the six months ended March 31, 2024 and 2023. The Company has renewed its HNTE certificate in December 2022 and thus its validity extends to December 2025.   The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2023 and 2022, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the six months ended March 31, 2024 and 2023, respectively, and also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from March 31, 2024.   Per the consolidated statements of income and comprehensive income, the income tax expenses for the Company can be reconciled to the income before income taxes for the six months ended March 31, 2024 and 2023 as follows:       For the six months ended       March 31,       2024     2023       (Unaudited)     (Unaudited)   Income before taxes excluded the amounts of loss incurring entities   $ 12     $ 12,877   PRC EIT tax rates     25%,15 %     25%,15 % Tax at the PRC EIT tax rates   $ 3     $ 1,062   Tax effect of R&D expenses deduction     (110,759 )     (165,682 ) Tax effect of deferred tax recognized     -       7,534   Tax effect of non-deductible expenses     110,756       48,896   Income tax (benefit) provision   $ -     $ (108,189 )   Income taxes for the six months ended March 31, 2024 and 2023 are attributed to the Company’s continuing operations in China and consisted of:       For the six months ended       March 31,       2024     2023       (Unaudited)     (Unaudited)   Current income tax   $ (162 )   $ (115,723 ) Deferred income tax     162       7,534   Total income tax (benefit) provision   $ -     $ (108,189 )   The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of March 31, 2024 and September 30, 2023 are presented below:       March 31,     September 30,       2024     2023       (Unaudited)         Deferred tax assets:             Allowance for credit losses   $ 95,556     $ 82,312   Inventory impairment provision     260,958       216,892   Other deductible temporary difference     (199,486 )     (143,805 ) Net operating loss carry-forward     450,612       445,937   valuation allowance for deferred income tax assets     (607,640 )     (601,336 ) Total   $ -     $ -     As of March 31, 2024 and September 30, 2023, allowance for the deferred tax assets was $607,640 and $601,336, respectively. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income, projections for future taxable income over the periods in which the deferred tax assets are deductible, and the scheduled reversal of deferred tax liabilities, Management believes that as of March 31, 2024, it is possible that the company may not realize the benefits of these deductible differences. According to the Corporate Income Tax Law of China, annual losses incurred by enterprises can be carried forward to subsequent years to offset future taxable income. The maximum carry-forward period is five years, but high-tech enterprises can extend this period to ten years as per regulations. As a high-tech enterprise, the group’s entities in China can carry forward losses incurred as of September 30, 2020, with a validity period until September 30, 2030. The Company’s affiliated entities in the PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances. As of March 31, 2024, the tax years for the Company’s affiliated entities in the PRC remain open for statutory examination by PRC tax authorities. There were no ongoing examinations by tax authorities as of March 31, 2024 and September 30, 2023.

Commitment and Contingencies	6 Months Ended
	Mar. 31, 2024
Commitment and Contingencies [Abstract]
COMMITMENT AND CONTINGENCIES	NOTE 21 – COMMITMENT AND CONTINGENCIES   As of March 31, 2024, the Company had the following capital commitments under non-cancelable agreements related to construction in progress:   Future payments   Capital commitments   April 2024 to September 2024   $ 1,181,404   October 2024 to September 2025     299,137   October 2025 to September 2026     -   Thereafter     -   Total   $ 1,480,541     From time to time, the Company is involved in various legal proceedings, claims and other disputes arising from commercial operations, employees, and other matters which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on our consolidated financial position or results of operations or liquidity. As of March 31, 2024 and September 30, 2023, the Company had no pending legal proceedings outstanding.

Disaggregated Revenue	6 Months Ended
	Mar. 31, 2024
Disaggregated Revenue [Abstract]
DISAGGREGATED REVENUE	NOTE 22 – DISAGGREGATED REVENUE   The following table presents revenue by major product categories for the six months ended March 31, 2024 and 2023, respectively:       March 31, 2024     March 31, 2023       Revenues  Amount     As % of Revenues     Revenues Amount     As % of Revenues       (In USD)           (In USD)         Revenue Category   (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)   Display modules   $ 8,285,437       55 %   $ 15,137,071       44 % Polarizers     5,983,816       40 %     16,974,322       49 % Others (repair services)     703,795       5 %     2,183,721       6 % Total   $ 14,973,048       100 %   $ 34,295,114       100 %   The revenue under category of others, are mostly from repairing services and mold product sales that have not become significant portion of the revenue for the six months ended March 31, 2024 and 2023.

Segment Reporting	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 23 – SEGMENT REPORTING   ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. All of the Company’s operating facilities and long-lived assets are in China, although the Company sells its products across different geographic regions. Based on management’s assessment, the Company has determined that it has only one operating segment as defined by ASC 280.   The following table presents revenues by geographic areas for the six months ended March 31, 2024 and 2023, respectively.        March 31, 2024     March 31, 2023       Revenues  Amount     As % of Revenues     Revenues  Amount     As % of Revenues       (In USD)           (In USD)         Country/Region   (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)   Mainland China   $ 14,641,702       98 %   $ 33,524,738       98 % Hong Kong and Taiwan     331,346       2 %     761,136       2 % Southeast Asia     -       -       9,240       -   Total   $ 14,973,048       100 %   $ 34,295,114       100 %

Subsequent Events	6 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 24 – SUBSEQUENT EVENTS   On June 21, 2024, the company entered into a securities purchase agreement with Streeterville Capital, LLC, a Utah limited liability company relating to the issuance and sale of a senior unsecured convertible note in the principal amount of $1,360,000, at a purchase price of $1,250,000. The Note is convertible into class A ordinary shares, par value $0.0001 per share of the Company. On June 24, 2024, the Company completed its issuance and sale to the Buyer of the Note pursuant to the Securities Purchase Agreement. The gross proceeds from the sale of the Note were $1,250,000, prior to deducting transaction fees and estimated expenses. The Note bears a simple interest at a rate of 7% per annum. All outstanding principal and accrued interest on the Note will become due and payable on June 24, 2025 (the “Maturity Date”), which is twelve (12) months after the purchase price of the Note is delivered by the Buyer to the Company. The Note includes an original issue discount of $100,000, along with $10,000 for the Buyer’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Note. The Company may, at its election, prepay all or any portion of the Outstanding Balance under the Note prior to the Maturity Date at a cash price equal to 120% of the portion of the Outstanding Balance to be prepaid.   The Company issued 2,800,000 ordinary shares to MIDEA INTERNATIONAL CO., LIMITED through a private placement on January 31, 2024. After a 45-day holding period, these shares were registered with the SEC on June 28, 2024, and are now eligible for public trading.   On November 20, 2023, Beijing Su Hong Yuan Da Technology Co., Ltd. entered into an equity transfer agreement with Shenzhen Ou Xun Electronics Co., Ltd., under which Suhong Yuanda agreed to transfer 500,000 shares, representing 1% of Jiangsu Austin Optoelectronics Technology Co., Ltd., to Ou Xun for a total consideration of RMB1.3 million (RMB2.6 per share). According to the contract, Ou Xun was required to pay the full amount by June 30, 2024; failure to do so would result in the return of the 1% shareholding, with Ou Xun also obligated to assist in completing the necessary procedures. As of June 30, 2024, Ou Xun had not made the required payment, triggering the share return and cooperation provisions. Consequently, the Company believes Ou Xun is in breach of contract, rendering the contract legally unenforceable and thus terminated. As of August 23, 2024, Jiangsu Austin has not yet received the shares back from Shenzhen Ou Xun Electronics Co., Ltd., but expects to complete this process in the near future.   The Company has evaluated subsequent events to the balance sheet date of March 31, 2024 through August 23 2024, the issuance of the consolidated financial statements. No other material subsequent events except for the disclosed above.

Condensed Financial Information of the Parent Company (Unaudited)	6 Months Ended
	Mar. 31, 2024
Condensed Financial Information of the Parent Company (Unaudited) [Abstract]
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (UNAUDITED)	NOTE 25 – CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (UNAUDITED)   The following is the condensed financial information of the Company on a parent company only basis.        As of March 31,     As of September 30,       2024     2023                 ASSETS             Cash and cash equivalents   $ 4,598     $ 10,336   Prepayments, deposits and other current assets     9,291,400       8,272,000   Investment in subsidiaries     13,340,885       13,340,885   Total assets   $ 22,636,883     $ 21,623,211                     LIABILITIES AND SHAREHOLDERS’ EQUITY                 Convertible notes     511,030       -   Accrued expenses and other current liabilities     24,625       55,000   Total liabilities   $ 535,655     $ 55,000                     SHAREHOLDERS’ EQUITY                 Class A ordinary share, $0.0001 par value, 4,991,000,000 shares authorized, 14,806,250 and 14,006,250 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023     1,481       1,401   Class B ordinary share, $0.0001 par value, 8,000,000 shares authorized, 2,000,000 and 0 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023     200       -   Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023     -       -   Additional paid-in capital     24,235,939       23,256,219   Retained earnings     (2,136,392 )     (1,689,399 ) Accumulated other comprehensive loss     -       -   Total equity of the Company’s shareholders     22,101,228       21,568,221   TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 22,636,883     $ 21,623,221         For the six months ended       March 31,       2024     2023                 Operating expenses:             General and administrative expenses   $ (424,073 )   $ (329,931 ) Bank charges and others     (22,290 )     -   Total operating expenses     (446,993 )     (329,931 )                   Other non-business income                 Net loss   $ (446,993 )   $ (329,931 ) Other comprehensive loss:                                   Total comprehensive loss   $ (446,993 )   $ (329,931 )       For the six months ended       March 31,       2024     2023                 Cash Flows from Operating Activities:             Net loss   $ (446,993 )   $ (329,931 ) Changes in operating assets and liabilities:                 Prepaid expenses and other receivables     (1,019,400 )     325,000   Accrued expenses and current liabilities     (19,345 )     -   Net cash used in operating activities     (1,485,738 )     (4,931 )                   Cash Flows from Investing Activities:                 Long-term investment     -       -   Net cash used in investing activities     -       -                     Cash Flows from Financing Activities:                 Net proceeds from private placement     980,000       -   Payments to related parties     -       -   Convertible notes     500,000       -                     Net cash provided by financing activities     1,480,000       -                     Effect of changes in currency exchange rates     -       -                     Net decrease in cash and cash equivalents     (5,738 )     (4,931 ) Cash, cash equivalents and restricted cash at the beginning of year     10,336       17,673   Cash and cash equivalents and restricted cash at the end of year   $ 4,598     $ 12,742     (a) Basis of Presentation   Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the cost method to account for investment in its subsidiaries.   The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.   (b) Shareholders’ Equity   The Company is authorized to issue 4,991,000,000 Class A ordinary shares of a par value of US$0.0001 each, 8,000,000 Class B ordinary shares of a par value of US$0.0001 each and 1,000,000 preference shares of a par value of US$0.0001 each. There are currently 16,806,250 issued and outstanding ordinary shares, including 14,806,250 Class A ordinary shares and 2,000,000 Class B ordinary shares. Mr. Tao Ling holds 12.89% of the Class A ordinary shares and 100% of the Class B ordinary shares through his wholly owned holding company, while Mr. Xiaohong Yin holds 6.5% of the Class A ordinary shares through his wholly owned holding company.   Share Surrender   In December 2020, an aggregate of 27,175,000 ordinary shares were surrendered by all our shareholders for no consideration and were then cancelled which in nature is a stock reverse split. As a result, the number of issued and outstanding ordinary shares decreased from 37,300,000 shares to 10,125,000 shares. All share information included in the consolidated financial statements and notes thereto have been retroactively adjusted as if such share surrender occurred on the first day of the first period presented.   Initial Public Offering    On April 29, 2022, the Company consummated its initial public offering of 3,881,250 ordinary shares, par value $0.0001 per share, including 506,250 additional ordinary shares issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $4.00 per share, generating gross proceeds to the Company of $15,525,000 before deducting underwriting discounts and commissions and offering expenses. The offering was conducted on a firm commitment basis. After deducting underwriting discounts, commissions and expenses related to the offering, the Company recorded $12,409,022 (with $388 in par value and $12,408,634 in additional paid-in capital) net proceeds from its initial public offering.   Private placement   On January 31, 2024, OST entered into a Subscription Agreement for a private placement with MIDEA INTERNATIONAL CO., LIMITED. Pursuant to the Subscription Agreement, OST has agreed to issue and sell to the Purchaser 2,800,000 unregistered ordinary shares of the OST, at a purchase price equivalent to US$0.35 per share. OST will receive US$ 980,000 in proceeds from the Private Placement of these unregistered Ordinary Shares.   On March 28, 2024, according to the resolution of the shareholders’ meeting, the company issued 2 million Class B ordinary shares to SHYD Investment Management Limited at an issuance price of $0.0001 per share. No Dividends or other distributions shall be payable on the Class B Ordinary Shares.

Accounting Policies, by Policy (Policies)	6 Months Ended
	Mar. 31, 2024
Significant Accounting Policies [Abstract]
Going Concern	Going Concern As of March 31, 2024, the Company had current assets of $20,997,329 and current liabilities of $39,052,608. This means that the Company’s current liabilities exceeded its current assets, amounting to $18,055,279. Additionally, the Company incurred a net loss of $4,649,379 for the half year, resulting in an accumulated deficit of $ 13,107,089. This condition raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company may be unable to realize its assets and discharge its liabilities in normal course of business. The Company meets its day-to-day working capital requirements through its bank facilities. Most of the bank borrowings as of March 31, 2024 that are repayable within the next 12 months are subject to renewal and the management is confident that these borrowings can be renewed upon expiration based on the Company’s past experience and credit history. In order to strengthen the Company’s liquidity in the foreseeable future, the Company has taken the following measures: (i) Negotiating with banks in advance for renewal and obtaining new banking facilities; (ii) Diversifying financing channels includes but is not limited to methods such as equity financing, sale and leaseback; and (iii) Implementing various strategies to enhance sales and profitability. The management has a reasonable expectation that the Company has adequate resources to continue in operational existence for 12 months from the filing date.
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying condensed consolidated interim financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United Stated of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated upon consolidation. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair presentation of the Company’s financial position, its results of operations and its cash flows, as applicable, have been made. Interim results are not necessarily indicative of results to be expected for the full year. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto as of and for the years ended September 30, 2023 and 2022. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.
Use of estimates	Use of estimates The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Such estimates include, but are not limited to, allowances for doubtful accounts, inventory valuation, useful lives of property, plant and equipment, intangible assets, and income taxes related to realization of deferred tax assets and uncertain tax position. Actual results could differ from those estimates.
Foreign currency translation	Foreign currency translation The financial records of the Company’s subsidiaries in China are maintained in their local currencies which are Chinese Yuan (“RMB”). Monetary assets and liabilities denominated in currencies other than their local currencies are translated into local currencies at the rates of exchange in effect at the consolidated balance sheet dates. Transactions denominated in currencies other than their local currencies during the year are converted into local currencies at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in other income, net in the consolidated statements of income and comprehensive income. The Company and its subsidiaries in British Virgin Islands and Hong Kong maintained their financial record using the United States dollar (“USD”) as the functional currency, while the subsidiaries of the Company in mainland China maintained their financial records using RMB as the functional currency. The reporting currency of the Company is USD. When translating local financial reports of the Company’s subsidiaries into USD, assets and liabilities are translated at the exchange rates at the consolidated balance sheet date, equity accounts are translated at historical exchange rates and revenue, expenses, gains and losses are translated at the average rate for the period. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the consolidated statements of income and comprehensive income. The relevant exchange rates are listed below:     March 31, 2024     September 30, 2023     March 31, 2023   Period ended RMB: USD exchange rate     7.2203       7.2960       6.8676   Period average RMB: USD exchange rate     7.2064       7.0533       6.9761
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. The Company maintains most of the bank accounts in the PRC. Cash balances in bank accounts in PRC are not insured by the Federal Deposit Insurance Corporation or other programs.
Restricted cash	Restricted cash Restricted cash is certain portion of bank deposit used for pledging or guarantee purpose.
Accounts receivable and allowance for credit losses	Accounts receivable and allowance for credit losses Accounts receivable is recognized and carried at original invoiced amount less an estimated allowance for credit losses. The Company usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Company establishes a provision for doubtful receivables when there is objective evidence that the Company may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on an aging analysis basis. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for credit losses after management has determined that the likelihood of collection is not probable.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the weighted-average method. The Company records adjustments to inventory for excess quantities, obsolescence or impairment when appropriate to reflect inventory at net realizable value. These adjustments are based upon a combination of factors including current sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory.
Advances to suppliers	Advances to suppliers Advances to suppliers refer to advances for purchase of materials or other services, which are applied against accounts payable when the materials or services are received. The Company reviews a supplier’s credit history and background information before advancing a payment. If the financial condition of its suppliers were to deteriorate, resulting in an impairment of their ability to deliver goods or provide services, the Company would write off such amount in the period when it is considered as impaired. The allowance for advances to suppliers recognized for the six months ended March 31, 2024 and 2023 were $47,813 and $150,547, respectively.
Advances from customers	Advances from customers Advances from customers refer to advances received from customers regarding product sales, for which revenue is recognized upon delivery.
Property, plant and equipment, net	Property, plant and equipment, net Property, plant, and equipment are recorded at cost less accumulated depreciation. Depreciation commences upon placing the asset in usage and is recognized on a straight-line basis over the estimated useful lives of the assets with 5% of residual value, as follows:     Useful Lives Buildings   20 years Machinery and equipment   5-10 years Transportation vehicles   4-5 years Office equipment   3-5 years Electronic equipment   3 years Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of income and other comprehensive income in other income or expenses.
Leasehold Improvement	Leasehold Improvement Leasehold improvement projects refer to the renovation, refurbishment, or decoration of leased premises or assets with the aim of enhancing efficiency and value. Leasehold improvement assets are initially measured at cost upon acquisition and are amortized over their estimated useful lives, typically the lease term. Amortization expense is recognized using the straight-line method.
Construction in progress	Construction in progress Construction in progress refers to ongoing or partially completed projects that the company is engaged in, including land development, new building construction, remodeling and renovation projects, among others. Construction in progress is measured using the cost model. The cost of construction in progress includes direct labor costs, material costs, subcontractor expenses, and interest expenses directly related to the project. The cost model is based on actual incurred expenses and is continuously updated. Upon completion of the construction in progress, the company will apply the applicable accounting standards and policies to amortize the asset based on its estimated useful life and estimated fair value. The method of amortization will be determined based on the nature of the project and the company’s accounting policies.
Land use rights, net	Land use rights, net Under the PRC law, all land in the PRC is owned by the government and cannot be sold to an individual or company. The government grants individuals and companies the right to use parcels of land for specified periods of time. These land use rights are sometimes referred to informally as “ownership.” Land use rights are stated at cost less accumulated amortization.     Rental period Land use rights   20-50 years
Intangible assets, net	Intangible assets, net Intangible assets consist of software and patent purchased from other companies and capitalized software developed by the Company, which are recorded at cost less accumulated amortization. Intangible assets are amortized using the straight-line method with the following estimated useful lives:     Useful lives Software   3 years Patent   10 years Capitalized software represents software that is developed or purchased by an entity that will be sold, leased, or marketed as a stand-alone product as well as a software that will be sold as part of another product or process. All costs of developing software prior to establishing its technological feasibility are research and development costs and are expensed as incurred. Technological feasibility is achieved when an entity has completed all planning, designing, coding, and testing activities necessary to establish that the software product can be produced to meet its design specifications, including functions, features, and technical performance requirements. As described in ASC 985-20-25-1, this can be achieved through the use of either (1) a detail program design, or (2) the combination of a product design and working model, which have been confirmed for completeness by testing. Costs of developing software after establishing technological feasibility are recorded capitalized software. The capitalized costs of developing software that will be sold, leased, or marketed will be amortized separately for each software product. An entity will begin amortizing the capitalized costs of the software when the product first becomes available for general release to customers. For the six months ended March 31, 2024, the Company purchased intangible assets from third parties.
Lease	Lease From the Perspective as a Lessee The Company has three operating leases for manufacturing facilities and offices with no option to renew and the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. When each lease begins, the management evaluates factors such as the lease term, rental payment method, and transfer of control to determine whether it should be classified as an operating lease or finance lease. Effective October 1, 2019, the Company adopted the new lease accounting standard using a modified retrospective transition method which allowed the Company not to recast comparative periods presented in its consolidated financial statements. In addition, the Company elected the package of practical expedients, which allowed the Company to not reassess whether any existing contracts contain a lease, to not reassess historical lease classification as operating or finance leases, and to not reassess initial direct costs. The Company has not elected the practical expedient to use hindsight to determine the lease term for its leases at transition. The Company combines the lease and non-lease components in determining the ROU assets and related lease obligation. Adoption of this standard resulted in the recording of operating lease ROU assets and corresponding operating lease liabilities as disclosed in financial statements. For related leases before the adoption date October 1, 2019, ROU assets and related lease obligations are recognized at adoption date based on the present value of remaining lease payments over the lease term. For related leases after the adoption date, ROU assets and related lease obligations are recognized at commencement date based on the present value of remaining lease payments over the lease term.   From the Perspective as a Lessor The Company leased a building to a third party for a period of 3 years starting in June 2021, without a purchase option at the end of the lease term. The Company classified this lease as an operating lease. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessee with the right to use the building. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease. The Company also leased some equipment to third parties, without a purchase option at the end of the lease term, while lease term of those equipment leases is mostly from 3 to 6 months. The Company classified the leases as operating leases. As per ASC 842, the lease income is recognized on a monthly basis throughout the lease term, as the Company has provided the lessees with the right to use the equipment. The Company chose to exclude sales taxes and other similar taxes collected from the lessee from revenue. There is no option for lease renewal stated in the lease agreement, and any contract renewal would be based on negotiations prior to the expiration of the lease.
Long-term investment	Long-term investment Company’s long-term investment consists of equity investments without a readily determinable fair value.  Under ASC Topic 321, Accounting for Equity Securities and Equity Investment, a measurement alternative is allowed for equity securities without a readily determinable fair value. Under the measurement alternative, the investment is measured at cost minus impairment, if any, plus or minus changes results from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.
Convertible notes	Convertible notes In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging -Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. For share-settled convertible debt and convertible preferred stock, the if-converted method is typically used to account for diluted earnings per share. For public companies, the guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The company adopted this standard beginning October 1, 2023. Following the adoption of ASU 2020-06 Convertible notes are recorded and disclosed as convertible notes payable, net of unamortized discount.
Long-term payable	Long-term payable During the six months ended March 31, 2024, the Company has two transactions with two third-party for manufacturing facilities where the Company sold certain machinery located in China and subsequently leased the machinery back for 24 months. In these arrangements, the Company has no obligation to transferring the underlying asset to an unaffiliated third party or has a bargain purchase option at a price of RMB1 to buyback the underlying asset by the end of the lease term. All these machineries are currently being used by the Company for its production purpose. The Company determined that in these transactions, the control of the asset is not transferred for the following reasons: (1) under the circumstances of not paying the financial liabilities, the buyer-lessor has no call option on the asset; and (2) the seller-lessee has a call option on the asset, and a.) the option is exercisable at something other than fair value as of the exercise date, b.) no alternative assets are available that are substantially the same as the asset transferred. The Company concluded these transactions were not qualified as sale-leaseback accounting and shall account as normal borrowings from third parties. For accounting purposes, the Company did not derecognize the transferred asset and accounts for any amounts received as a financial liability measured at amortized cost subsequent to initial recognition. The balances with these third-party lenders as of March 31, 2024 and September 30, 2023 are $983,163 and nil. For the six months ended March 31, 2024 and 2023, the Company recognized interest expense of $8,116 and $5,992 on these loan payables, respectively.
Impairment of long-lived assets	Impairment of long-lived assets The Company’s management reviews the carrying values of long-lived assets whenever events and circumstances, such as a significant decline in the asset’s market value, obsolescence or physical damage affecting the asset, significant adverse changes in the assets use, deterioration in the expected level of the assets performance, cash flows for maintaining the asset are higher than forecast, indicate that the net book value of an asset may not be recovered through expected future cash flows from its use and eventual disposition. If the estimated cash flows from the use of the asset and its eventual disposition are below the asset’s carrying value, then the asset is deemed to be impaired and written down to its fair value. There was no impairment charge recognized for long-lived assets for March 31, 2024 and 2023.
Fair value measurement	Fair value measurement Fair value measurements and disclosures requires disclosure of the fair value of financial instruments held by the Company. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:   ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.         ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.         ● Level 3 inputs to the valuation methodology use one or more unobservable inputs which are significant to the fair value measurement. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. For the Company’s financial instruments, including cash and cash equivalents, accounts receivable, other receivables, accounts payable, due to related parties, notes receivable, notes payable, and short-term borrowing, the carrying amounts approximate their fair values due to their short maturities as of March 31, 2024 and 2023.
Value-added tax (“VAT”)	Value-added tax (“VAT”) Sales revenue represents the invoiced value of goods, net of VAT. All of the Company’s products sold in the PRC are subject to a VAT on the gross sales price. The Company is subject a VAT rate of 13% effective on April 1, 2019. The VAT may be offset by VAT paid by the Company on raw materials and other materials included in the cost of producing or acquiring its finished products.
Revenue recognition	Revenue recognition  The Company generates its revenues mainly from sales of display modules and polarizers to third-party customers, who are mainly display manufacturers and end-brand customers. The Company follows Financial Accounting Standards Board (FASB) ASC 606 and accounting standards updates (“ASU”) 2014-09 for revenue recognition. On October 1, 2017, the Company has early adopted ASU 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company considers revenue realized or realizable and earned when all the five following criteria are met: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.     The Company considers customer purchase orders to be the contracts with a customer. As part of its consideration of the contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent). In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company offers customer warranty of six months to five years for defective products that is beyond contemplated defective rate mutually agreed in contract with customers. The Company analyzed historical refund claims for defective products and concluded that they have been immaterial. Revenues are reported net of all VAT. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on their relative standalone selling price. Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied at a point in time), which typically occurs at delivery. For international sales, the Company sells its products primarily under the free onboard (“FOB”) shipping point term. For sales under the FOB shipping point term, the Company recognizes revenues when products are delivered from Company to the designated shipping point. Prices are determined based on negotiations with the Company’s customers and are not subject to adjustment. The Company also generates revenues from providing repair services. Revenues from repair service agreements are recognized at a point in time once the service is rendered to the customer. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent). The Company also generates revenues from providing research and development services. Revenues from research and development are mainly generated from video conferencing system development service. When the contract is awarded, the Company will develop the video conferencing system significantly customized to the needs of the customer. The duration of contracts ranges from nine months to twelve months. The Company develops the customized video conferencing system, which is combined output, to the customers. Therefore, each development contract is a single performance obligation under ASC 606-10-25-21. The Company considers whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for the other party to provide those goods or services (that is, the entity is an agent). The Company is not able to sell the research and development services to another customer due to the individual customization of each contract and the Company has an enforceable right to payment for performance completed to date, which meets the criteria of the performance obligation over time under ASC 606-10-25-29. For performance obligations satisfied over time, the Company recognizes revenue over time by using the output method to measure the progress toward complete satisfaction of a performance obligation. The Company used the milestones reached method specified in each contract to determine the extent of progress toward completion.
Government subsidies	Government subsidies Government subsidies refer to the financial assistance provided by the government to enterprises, either in the form of monetary or non-monetary assets, without charge. These subsidies can be categorized into two types: subsidies related to assets and subsidies related to revenue. Subsidies related to assets: These subsidies are obtained by enterprises and used for the acquisition or formation of long-term assets. Typically, the terms and conditions of the subsidy require the enterprise to utilize the funds for the acquisition of long-term assets. In terms of accounting treatment, there are two options available: i) Recognition as deferred income: The subsidy related to assets can be recognized as deferred income, which is gradually recognized in the income statement as the assets are utilized. ii)Reduction of the carrying value of assets: The subsidy can also be used to reduce the carrying value of the long-term assets, reflecting their actual acquisition costs.   Subsidies related to revenue: These subsidies, which are distinct from those related to assets, are primarily aimed at compensating enterprises for expenses or losses that have already occurred or are expected to occur. Due to their shorter benefit period, they are typically recognized in the income statement or used to offset related costs when the conditions of the subsidy are met. For the six months ended March 31, 2024 and 2023, the Company received government subsidies of $228,673 and $479,152, respectively. The grants were recorded as other income in the consolidated financial statements.
Research and development costs	Research and development costs Research and development activities are directed toward the development of new products as well as improvements in existing processes. These costs, which primarily include salaries, contract services and supplies, are expensed as incurred.
Shipping and handling costs	Shipping and handling costs Shipping and handling costs are expensed when incurred and are included in selling and marketing expense. Shipping and handling costs were $149,786 and $288,767 for the six months ended March 31, 2024 and 2023, respectively.
Income taxes	Income taxes The Company accounts for income taxes using the asset and liability method whereby it calculates deferred tax assets or liabilities for temporary differences between the tax basis of assets and liabilities and their reported amounts in the unaudited consolidated financial statements, net operating loss carry forwards and credits by applying enacted tax rates applicable to the fiscal years in which those temporary differences are expected to be reversed or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The components of the deferred tax assets and liabilities are individually classified as non-current amounts. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. To the extent applicable, the Company records interest and penalties as other expense. All of the tax returns of the Company’s PRC subsidiaries remain subject to examination by PRC tax authorities for five years from the date of filing. The fiscal year for tax purpose in PRC is December 31. The Company is not subject to U.S. tax laws and local state tax laws. The Company’s income and that of its related entities must be computed in accordance with Chinese and foreign tax laws, as applicable, and all of which may be changed in a manner that could adversely affect the amount of distributions to shareholders. There can be no assurance that Income Tax Laws of PRC will not be changed in a manner that adversely affects shareholders. In particular, any such change could increase the amount of tax payable by the Company, reducing the amount available to pay dividends to the holders of the Company’s ordinary shares.
Earnings per share	Earnings per share Earnings per share is calculated in accordance with ASC 260 Earnings per Share. Basic earnings (loss) per share is computed by dividing the net income attributable to shareholders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share is computed in accordance with the treasury stock method and based on the weighted average number of ordinary shares and dilutive ordinary share equivalents. Dilutive ordinary share equivalents are excluded from the computation of diluted earnings per share if their effects would be anti-dilutive. There were no dilutive ordinary share equivalents outstanding during the six months ended March 31, 2024 and 2023.
Significant risks and uncertainties	Significant risks and uncertainties Exchange Rate Risks The Company operates in PRC, which may give rise to significant foreign currency risks mainly from fluctuations and the degree of volatility of foreign exchange rates between the USD and the RMB.  Currency Convertibility Risks Substantially all of the Company’s operating activities are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with other information such as suppliers’ invoices, shipping documents and signed contracts. Concentration of Credit Risks Financial instruments that potentially subject the Company to concentration of credit risks consist primarily of cash and cash equivalents, restricted cash, accounts receivables, and notes receivable. The Company places its cash and cash equivalents, restricted cash, and note receivable in good credit quality financial institutions in Hong Kong and PRC. Concentration of credit risks with respect to accounts receivables is linked to the concentration of revenue. To manage credit risk, the Company performs ongoing credit evaluations of customers’ financial condition. Interest Rate Risks The Company is subject to interest rate risk. Although the Company’s interest-bearing loans carry fixed interest rates within the reporting period, the Company is still subject to the risk of adverse changes in the interest rates charged by the banks if and when these loans are refinanced. Risks and Uncertainties The operations of the Company are located in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by political, economic, and legal environments in the PRC, as well as by the general state of the PRC economy. The Company’s results may be adversely affected by changes in the political, regulatory and social conditions in the PRC. Although the Company has not experienced losses from these situations and believes that it is in compliance with existing laws and regulations including its organization and structure disclosed in Note 1, this may not be indicative of future results.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates. Management periodically reviews new accounting standards that are issued. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This amends guidelines on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current U.S. GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current U.S. GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which amended the effective date of ASU 2016-13. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning April 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this policy has no material impact.   In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The amendments in these ASUs are effective for the Company’s fiscal years, and interim periods within those fiscal years beginning October 1, 2022. The Company has adopted this guidance for the Company’s consolidated financial statements. The adoption of this guidance has no impact on the calculation of Company’s income taxes. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows.

Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2024
Significant Accounting Policies [Abstract]
Schedule of Relevant Exchange Rates	The relevant exchange rates are listed below:     March 31, 2024     September 30, 2023     March 31, 2023   Period ended RMB: USD exchange rate     7.2203       7.2960       6.8676   Period average RMB: USD exchange rate     7.2064       7.0533       6.9761
Schedule of Property, Plant, and Equipment Useful Lives	Depreciation commences upon placing the asset in usage and is recognized on a straight-line basis over the estimated useful lives of the assets with 5% of residual value, as follows:     Useful Lives Buildings   20 years Machinery and equipment   5-10 years Transportation vehicles   4-5 years Office equipment   3-5 years Electronic equipment   3 years
Schedule of Land Use Rights	These land use rights are sometimes referred to informally as “ownership.” Land use rights are stated at cost less accumulated amortization.     Rental period Land use rights   20-50 years
Schedule of Intangible Assets Estimated Useful Lives	Intangible assets are amortized using the straight-line method with the following estimated useful lives:     Useful lives Software   3 years Patent   10 years

Restricted Cash (Tables)	6 Months Ended
	Mar. 31, 2024
Restricted Cash [Abstract]
Schedule of Restricted Cash	Restricted cash as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023                 Pledge of bank deposit   $ 306,081     $ 302,906   Restricted cash   $ 306,081     $ 302,906

Accounts Receivable (Tables)	6 Months Ended
	Mar. 31, 2024
Accounts Receivable [Abstract]
Schedule of Accounts Receivable	Accounts receivable as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Accounts receivable, gross   $ 4,889,970     $ 6,531,667   Less: allowance for credit losses     (82,032 )     (46,722 ) Accounts receivable, net   $ 4,807,938     $ 6,484,945
Schedule of an Aged Analysis of Accounts Receivables	Below is an aged analysis of accounts receivables as of March 31, 2024, respectively.     As of March 31, 2024       Accounts receivable,     Allowance for credit     Accounts receivable,       Gross     losses     Net       (Unaudited)     (Unaudited)     (Unaudited)   Within 90 days   $ 3,526,922     $ -     $ 3,526,922   91-180 days     605,879       -       605,879   181-365 days     108,973       (5,448 )     103,525   Greater than 1 year     648,196       (76,584 )     571,612   Accounts receivable, net   $ 4,889,970     $ (82,032 )   $ 4,807,938
Schedule of Changes of Allowance for Doubtful Accounts	Changes of allowance for credit losses for the six months ended March 31, 2024 and September 30, 2023 are as follows:     As of     As of       March 31,     September 30,       2024     2023       (Unaudited)         Beginning balance   $ 46,722     $ 33,184   Additional reserve through bad debt expense     35,310       13,538   Bad debt write-off                 Ending balance   $ 82,032     $ 46,722

Inventories (Tables)	6 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
Schedule of Inventories	Inventories as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Raw materials   $ 7,622,283     $ 9,016,981   Work in process     904       -   Finished goods     5,079,193       5,133,030   Goods in transit     159,493       1,714,861   Inventory provision     (1,739,721 )     (1,445,947 ) Total inventories, net   $ 11,122,152     $ 14,418,925

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment, Net [Abstract]
Schedule of Property Plant and Equipment	Property, plant and equipment as of March 31, 2024, and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Buildings   $ 19,838,425     $ 20,258,258   Machinery and equipment     7,674,462       7,576,777   Electronic equipment     2,042,320       2,234,455   Transportation vehicles     341,468       337,925   Office equipment     294,822       283,972   Leasehold improvement     439,646       301,399   Construction in progress     1,696,062       1,654,405   Total property plant and equipment, at cost     32,327,205       32,647,191   Less: accumulated depreciation     (8,593,384 )     (7,591,164 ) Property, plant and equipment, net   $ 23,733,821     $ 25,056,027

Land Use Rights, Net (Tables)	6 Months Ended
	Mar. 31, 2024
Land Use Rights, Net [Abstract]
Schedule of Land Use Rights	Land use rights as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Land use rights, at cost   $ 1,752,534     $ 1,734,351   Less: accumulated amortization     (300,319 )     (252,756 ) Total land use rights, net   $ 1,452,215     $ 1,481,595
Schedule of Estimated Future Amortization Expense for Land Use Rights	Estimated future amortization expense for land use rights is as follows as of March 31, 2024: 12 months ended March 31,   Amortization expense           2025   $ 89,828   2026     89,828   2027     89,828   2028     89,828   2029     89,828   Thereafter     1,003,075   Total   $ 1,452,215

Intangible Assets, Net (Tables)	6 Months Ended
	Mar. 31, 2024
Intangible Assets, Net [Abstract]
Schedule of Intangible Assets, Net	Intangible assets, net as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Purchased software, cost   $ 962,789     $ 952,800   Purchased patent, cost     2,221,085       2,080,949   Capitalized software, cost     3,390,701       3,371,856   Total intangible assets, at cost     6,574,575       6,405,605   Less: accumulated amortization     (1,880,377 )     (1,427,523 ) Intangible assets, net   $ 4,694,198     $ 4,978,082
Schedule of Estimated Future Amortization Expense for Intangible Assets	Estimated future amortization expense for intangible assets is as follows as of March 31, 2024: 12 months ended March 31,   Amortization expense           2025   $ 878,306   2026     878,306   2027     878,306   2028     878,306   2029     878,306   Thereafter     302,668   Total   $ 4,694,198

Other Long-Term Receivable (Tables)	6 Months Ended
	Mar. 31, 2024
Other Long-Term Receivable [Abstract]
Schedule of Other Long-Term Receivable	Other long-term receivable as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Other long-term receivables   $ 267,823     $ 248,011   Total   $ 267,823     $ 248,011

Convertible Notes (Tables)	6 Months Ended
	Mar. 31, 2024
Convertible Notes [Abstract]
Schedule of Amortized Cost of the Convertible Notes	The amortized cost of the convertible notes as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)     -   Convertible Notes- Issued in Jan, 2024   $ 550,000     $      -   Less debt discount and debt issuance cost     38,970       -         511,030       -   Less current portion of convertible notes payable     511,030       -   Long-term convertible notes payable   $ -     $ -

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Mar. 31, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Deferred government subsidies   $ 885,209     $ 910,709   Tax payable     120,439       54,174   Wages Payable     137,705       105,079   Interest payable     85,557       304,222   Other payables and accruals     790,945       669,646   Total   $ 2,019,855     $ 2,043,830

Borrowings (Tables)	6 Months Ended
	Mar. 31, 2024
Borrowings [Abstract]
Schedule of Borrowings	Borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Short-term bank loans   $ 18,835,782     $ 16,036,184   Short-term loans from third-party individuals and entities*     7,264,299       7,879,608   Total   $ 26,100,081     $ 23,915,792   * As of March 31, 2024, the third-party loan balance includes a short-term loan of $387,796 from Chengdu Airport Factoring Company, with another third party, Chengdu Juyuan Company, providing a guarantee for the loan. Per the agreement among all parties, Jiangsu Austin has pledged its investment of $8.31 million, representing a 50% equity stake in Sichuan Ausheet, to secure the guarantee provided by Chengdu Juyuan Company. The equity pledge remains in effect as long as Sichuan Ausheet has an outstanding loan balance owed to Chengdu Airport Factoring Company. Upon repayment of the loan, Jiangsu Austin retains the right to dispose of the 50% pledged equity. There was no outstanding balance of the loan with Chengdu Airport Factoring Company as of September 30, 2023, hence no pledge at the time for this loan.
Schedule of Short-Term Bank Loans	Short-term bank loans as of March 31, 2024 consisted of the following: Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Nanjing*     19,000,000       2,631,470     7/21/2023   7/1/2024     3.70 % Bank of Nanjing*     1,000,000       138,498     7/21/2023   7/1/2024     3.70 % Bank of China*     4,000,000       553,994     7/27/2023   7/25/2024     3.42 % Bank of China*     4,000,000       553,994     7/26/2023   7/24/2024     3.42 % Bank of Ningbo*     10,000,000       1,384,984     6/21/2023   6/20/2024     4.55 % Bank of Jiangsu*     5,000,000       692,492     8/15/2023   8/14/2024     4.05 % Bank of Jiangsu*     3,000,000       415,495     8/15/2023   8/14/2024     4.05 % Bank of Bei Jing*     10,000,000       1,384,984     4/28/2023   4/27/2024     3.65 % Bank of Communication     6,000,000       830,990     11/24/2023   11/23/2024     4.35 % Postal Savings Bank of China*     20,000,000       2,769,968     1/2/2024   12/31/2024     3.45 % Bank of Communication*     9,000,000       1,246,486     6/29/2023   6/28/2024     3.70 % Bank of China*     3,000,000       415,495     1/23/2024   6/30/2024     3.05 % Bank of Cheng Du     5,000,000       692,492     7/25/2023   7/24/2024     5.65 % Bank of China     10,000,000       1,384,984     8/21/2023   8/21/2024     5.55 % Chengdu Rural Commercial Bank     10,000,000       1,384,984     12/22/2023   12/21/2024     3.55 % China Construction Bank     5,000,000       692,492     3/11/2024   3/10/2025     3.95 % Bank of Zijin Rural Commercial***     2,000,000       276,997     3/29/2023   3/28/2025     4.35 % Bank of Zijin Rural Commercial**     4,750,000       657,867     3/3/2023   3/3/2025     4.35 % Bank of Zijin Rural Commercial**     5,250,000       727,116     1/31/2023   1/20/2025     4.35 % Total     136,000,000     $ 18,835,782                   * As of March 31, 2024 a total of $13,018,850 short-term loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. ** As of March 31, 2024, a total of $1,384,984 long-term bank loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. *** As of March 31, 2024, a total of $276,997 bank loans were obtained through pledging a fixed certificate of deposit worth $306,081, of which $306,081 is included in the restricted cash. Short-term bank loans as of September 30, 2023 consisted of the following: Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Nanjing*     19,000,000       2,604,167     7/21/2023   7/1/2024     3.70 % Bank of Nanjing*     1,000,000       137,061     7/21/2023   7/1/2024     3.70 % Bank of China*     4,000,000       548,246     7/27/2023   7/25/2024     3.42 % Bank of China*     2,000,000       274,123     7/27/2023   2/26/2024     3.42 % Bank of China*     4,000,000       548,246     7/26/2023   7/25/2024     3.42 % Bank of Ningbo     10,000,000       1,370,613     6/21/2023   6/15/2024     4.55 % Bank of Jiangsu     5,000,000       685,307     8/15/2023   8/14/2024     4.05 % Bank of Jiangsu     3,000,000       411,184     8/15/2023   8/13/2024     4.05 % Agricultural Bank of China     10,000,000       1,370,614     11/9/2022   11/1/2023     3.65 % Bank of Beijing     10,000,000       1,370,614     4/28/2023   4/27/2024     3.65 % Bank of Nanjing*     5,000,000       685,307     5/17/2023   11/14/2023     3.80 % Bank of Communications     9,000,000       1,233,553     6/29/2023   6/28/2024     3.70 % Bank of China*     10,000,000       1,370,614     6/29/2023   1/28/2024     3.65 % Agricultural Bank of China*     10,000,000       1,370,614     1/1/2023   1/1/2024     3.65 % Bank of Chengdu*     5,000,000       685,307     7/25/2023   7/24/2024     5.65 % Bank of China*     10,000,000       1,370,614     8/21/2023   8/21/2024     5.55 % Total     117,000,000     $ 16,036,184                   * As of September 30, 2023, a total of $9,594,299 short term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023. Long-term bank loans as of September 30, 2023 consisted of the following: Bank Name   Amount - RMB     Amount - USD     Issuance Date   Expiration Date   Interest   Bank of Zijin Rural Commercial*     2,000,000       274,123     3/29/2023   3/28/2025     4.35 % Bank of Zijin Rural Commercial**     4,750,000       651,042     3/3/2023   3/3/2025     4.35 % Bank of Zijin Rural Commercial**     5,250,000       719,572     1/31/2023   1/20/2025     4.35 % Total     12,000,000     $ 1,644,737                   * As of September 30, 2023, a total of $274,123 bank loans were obtained through pledging a fixed certificate of deposit worth $302,906, of which $302,906 is included in the restricted cash.     ** As of September 30, 2023, a total of $1,370,614 long term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.
Schedule of Long-Term Borrowings	Long-term borrowings as of March 31, 2024 and September 30, 2023 consisted of the following:     March 31, 2024      September 30, 2023     Long-term bank loans   $             -     $ 1,644,737   Total   $ -     $ 1,644,737   * As of September 30, 2023, a total of $274,123 bank loans were obtained through pledging a fixed certificate of deposit worth $302,906, of which $302,906 is included in the restricted cash.     ** As of September 30, 2023, a total of $1,370,614 long term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.
Schedule of Pledges of Asset	The details of the pledges of assets are as follows:     March 31,     September 30,       2024     2023       (Unaudited)         Buildings, net   $ 819,422     $ 845,878   Bank deposit     306,081       302,906   Total   $ 1,125,503     $ 1,148,784

Long-Term Payables (Tables)	6 Months Ended
	Mar. 31, 2024
Long-Term Payables [Abstract]
Schedule of Long-Term Borrowings	Long-term borrowings as of September 30, 2024 and September 30, 2023 consisted of the following:     March 31,     September 30,       2024     2023       (Unaudited)         Long- term payable (from guarantee deposit)   $ 274,438     $ 271,590   Long- term payable (from financial lease   )     1,080,128       -   Less unrecognized financing expense     96,965       -         1,257,601       271,590   Less current portion of long-term payable     532,426       -       $ 725,175     $ 271,590

Related Party Transactions (Tables)	6 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Nature of Relationships with Related Parties	Nature of relationships with related parties: Name     Relationship with the Company Tao Ling   Principal shareholder, Chief Executive Officer and Chairman of the Company Xiaohong Yin   Principal shareholder and director of the Company Bozhen Gong   Immediate family member of Tao Ling Yun Tan   Immediate family member of Tao Ling Rongxin Ling   Immediate family member of Tao Ling Peizhen Zhang   Immediate family member of Tao Ling Ying Ling   Immediate family member of Tao Ling Jing Ling   Immediate family member of Tao Ling Nanjing Shun yi Jing Electric Technology Co., Ltd.   Principal shareholder is immediate family member of Tao Ling Luzhou Nachuan Investment Limited   An entity which owns 5% equity interest of Luzhou Aozhi Midea International Co., Ltd*   Principal shareholder of the company Nanjing Aoni Investment Management Partnership (Limited Partnership) **   An entity which owns 71.43% equity interest of Auniuxin   * Midea International Co., Ltd became a new related party in January 2024 through a private placement issuance ** Nanjing Aoni Investment Management Partnership (Limited Partnership) became a new related party in January 2024 through its investment in Auniuxin.
Schedule of Summarizes Borrowing Transactions	The following table summarizes borrowing transactions with the Company’s related parties:     Borrowing/     Payment/       Collecting     Lending   Name of Related Parties   Amount     Amount   Tao Ling   $ 416,297     $ 416,297   Xiaohong Yin     1,706,816       2,092,403   Rongxin Ling     208,148       -   Peizhen Zhang     152,642       -   Bozhen Gong     83,259       -   Ying Ling     83,259       -   Jing Ling     194,272       55,506   Yun Tan     -       180,395   Nanjing Shun yi Jing Electric Technology Co., Ltd.     763,210       126,277   Midea International Co., Ltd     1,859,000       1,608,000   Total   $ 5,466,903     $ 4,478,878   The following table summarizes borrowing transactions with the Company’s related parties:     Borrowing/     Payment/       Collecting     Lending   Name of Related Parties   Amount     Amount   Tao Ling   $ 394,203     $ 143,347   Xiaohong Yin     1,799,173       236,694   Bozhen Gong     71,673       301,028   Total   $ 2,265,049     $ 681,069
Schedule of Related Party Transactions	Related party transactions     Sales     Sales   Name of Related Parties   March 31, 2024     March 31, 2023   Midea International Co., Ltd     66,206                -   Total   $ 66,206     $ -
Schedule of Net Outstanding Balances with Related Parties	Outstanding balances with related parties consisted of the following as of March 31, 2024 and September 30, 2023: Accounts   Name of Related Parties   March 31, 2024     September 30, 2023   Due from related parties   Midea International Co., Ltd     66,206                         -   Total due from related parties       $ 66,206     $ -   Accounts   Name of Related Parties   March 31, 2024      September 30, 2023   Due to related parties   Xiaohong Yin   $ 1,343,434     $ 1,710,347   Due to related parties   Bozhen Gong     152,348       68,531   Due to related parties   Yun Tan     -       178,180   Due to related parties   Rongxin Ling     346,246       137,061   Due to related parties   Peizhen Zhang     263,147       109,649   Due to related parties   Ying Ling     221,597       137,061   Due to related parties   Jing Ling     138,498       -   Due to related parties   Nanjing Shun yi Jing Electric Technology Co., Ltd.     1,307,425       664,748   Due to related parties   Midea International Co., Ltd     451,000       -   Total due to related parties       $ 4,223,696     $ 3,005,577

Other Income (Expenses), Net (Tables)	6 Months Ended
	Mar. 31, 2024
Other Income (Expenses), Net [Abstract]
Schedule of Other Income (Expenses), Net	Other income (expenses), net for the six months ended March 31, 2024 and March 31, 2023 consisted of the following:     For the six months       March 31,       2024     2023       (Unaudited)     (Unaudited)   Government subsidies*   $ 228,673     $ 479,152   Other miscellaneous non-business income (loss)     16,200       20,830   Total other income (expenses), net   $ 244,873     $ 499,982   * Government subsidies as the compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related cost are recognized in profit or loss in the period in which they become receivable. Government subsidies as the support for certain assets were recorded in deferred government subsidies and are amortized in the future periods. For six months ended March 31, 2024 and 2023, the Company recorded government subsidies of $228,673 and $479,152 respectively.

Lease (Tables)	6 Months Ended
	Mar. 31, 2024
Lease [Abstract]
Schedule of ROU Assets and Liabilities	As of March 31, 2024 and September 30, 2023, the balances of ROU assets and liabilities, along with other information, are presented in the following table:     March 31, 2024     September 30, 2023   Assets             Operating leases   $ 87,986     $ 141,772   Total right-of-use asset   $ 87,986     $ 141,772       March 31, 2024      September 30, 2023     Liabilities             Operating leases   $            -      $ (116,895 ) Lease Liability-current     -       (104,000 ) Lease Liability-Non current     -       (12,895   Total lease liability   $ -     $ (116,895 )

Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2024
Income Taxes [Abstract]
Schedule of Reconciled to the Income Before Income Taxes	Per the consolidated statements of income and comprehensive income, the income tax expenses for the Company can be reconciled to the income before income taxes for the six months ended March 31, 2024 and 2023 as follows:     For the six months ended       March 31,       2024     2023       (Unaudited)     (Unaudited)   Income before taxes excluded the amounts of loss incurring entities   $ 12     $ 12,877   PRC EIT tax rates     25%,15 %     25%,15 % Tax at the PRC EIT tax rates   $ 3     $ 1,062   Tax effect of R&D expenses deduction     (110,759 )     (165,682 ) Tax effect of deferred tax recognized     -       7,534   Tax effect of non-deductible expenses     110,756       48,896   Income tax (benefit) provision   $ -     $ (108,189 )
Schedule of Income Taxes	Income taxes for the six months ended March 31, 2024 and 2023 are attributed to the Company’s continuing operations in China and consisted of:     For the six months ended       March 31,       2024     2023       (Unaudited)     (Unaudited)   Current income tax   $ (162 )   $ (115,723 ) Deferred income tax     162       7,534   Total income tax (benefit) provision   $ -     $ (108,189 )
Schedule of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of March 31, 2024 and September 30, 2023 are presented below:     March 31,     September 30,       2024     2023       (Unaudited)         Deferred tax assets:             Allowance for credit losses   $ 95,556     $ 82,312   Inventory impairment provision     260,958       216,892   Other deductible temporary difference     (199,486 )     (143,805 ) Net operating loss carry-forward     450,612       445,937   valuation allowance for deferred income tax assets     (607,640 )     (601,336 ) Total   $ -     $ -

Commitment and Contingencies (Tables)	6 Months Ended
	Mar. 31, 2024
Commitment and Contingencies [Abstract]
Schedule of Capital Commitments Under Non-Cancelable Agreements	As of March 31, 2024, the Company had the following capital commitments under non-cancelable agreements related to construction in progress: Future payments   Capital commitments   April 2024 to September 2024   $ 1,181,404   October 2024 to September 2025     299,137   October 2025 to September 2026     -   Thereafter     -   Total   $ 1,480,541

Disaggregated Revenue (Tables)	6 Months Ended
	Mar. 31, 2024
Disaggregated Revenue [Abstract]
Schedule of Revenue by Major Product Categories	The following table presents revenue by major product categories for the six months ended March 31, 2024 and 2023, respectively:     March 31, 2024     March 31, 2023       Revenues  Amount     As % of Revenues     Revenues Amount     As % of Revenues       (In USD)           (In USD)         Revenue Category   (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)   Display modules   $ 8,285,437       55 %   $ 15,137,071       44 % Polarizers     5,983,816       40 %     16,974,322       49 % Others (repair services)     703,795       5 %     2,183,721       6 % Total   $ 14,973,048       100 %   $ 34,295,114       100 %

Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenues by Geographic Areas	The following table presents revenues by geographic areas for the six months ended March 31, 2024 and 2023, respectively.     March 31, 2024     March 31, 2023       Revenues  Amount     As % of Revenues     Revenues  Amount     As % of Revenues       (In USD)           (In USD)         Country/Region   (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)   Mainland China   $ 14,641,702       98 %   $ 33,524,738       98 % Hong Kong and Taiwan     331,346       2 %     761,136       2 % Southeast Asia     -       -       9,240       -   Total   $ 14,973,048       100 %   $ 34,295,114       100 %

Condensed Financial Information of the Parent Company (Unaudited) (Tables)	6 Months Ended
	Mar. 31, 2024
Condensed Financial Information of the Parent Company (Unaudited) [Abstract]
Schedule of Condensed Financial Information	The following is the condensed financial information of the Company on a parent company only basis.     As of March 31,     As of September 30,       2024     2023                 ASSETS             Cash and cash equivalents   $ 4,598     $ 10,336   Prepayments, deposits and other current assets     9,291,400       8,272,000   Investment in subsidiaries     13,340,885       13,340,885   Total assets   $ 22,636,883     $ 21,623,211                     LIABILITIES AND SHAREHOLDERS’ EQUITY                 Convertible notes     511,030       -   Accrued expenses and other current liabilities     24,625       55,000   Total liabilities   $ 535,655     $ 55,000                     SHAREHOLDERS’ EQUITY                 Class A ordinary share, $0.0001 par value, 4,991,000,000 shares authorized, 14,806,250 and 14,006,250 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023     1,481       1,401   Class B ordinary share, $0.0001 par value, 8,000,000 shares authorized, 2,000,000 and 0 ordinary shares issued and outstanding as of March 31, 2024 and September 30, 2023     200       -   Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023     -       -   Additional paid-in capital     24,235,939       23,256,219   Retained earnings     (2,136,392 )     (1,689,399 ) Accumulated other comprehensive loss     -       -   Total equity of the Company’s shareholders     22,101,228       21,568,221   TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 22,636,883     $ 21,623,221         For the six months ended       March 31,       2024     2023                 Operating expenses:             General and administrative expenses   $ (424,073 )   $ (329,931 ) Bank charges and others     (22,290 )     -   Total operating expenses     (446,993 )     (329,931 )                   Other non-business income                 Net loss   $ (446,993 )   $ (329,931 ) Other comprehensive loss:                                   Total comprehensive loss   $ (446,993 )   $ (329,931 )       For the six months ended       March 31,       2024     2023                 Cash Flows from Operating Activities:             Net loss   $ (446,993 )   $ (329,931 ) Changes in operating assets and liabilities:                 Prepaid expenses and other receivables     (1,019,400 )     325,000   Accrued expenses and current liabilities     (19,345 )     -   Net cash used in operating activities     (1,485,738 )     (4,931 )                   Cash Flows from Investing Activities:                 Long-term investment     -       -   Net cash used in investing activities     -       -                     Cash Flows from Financing Activities:                 Net proceeds from private placement     980,000       -   Payments to related parties     -       -   Convertible notes     500,000       -                     Net cash provided by financing activities     1,480,000       -                     Effect of changes in currency exchange rates     -       -                     Net decrease in cash and cash equivalents     (5,738 )     (4,931 ) Cash, cash equivalents and restricted cash at the beginning of year     10,336       17,673   Cash and cash equivalents and restricted cash at the end of year   $ 4,598     $ 12,742

Organization and Nature of Operations (Details) ¥ / shares in Units, ¥ in Millions			6 Months Ended
	Jan. 09, 2024 CNY (¥)	Nov. 20, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2024 CNY (¥) m²	Mar. 28, 2024 $ / shares	Aug. 31, 2021	Jun. 29, 2020
Organization and Nature of Operations [Line Items]
Date of incorporation			Sep. 26, 2019
Area of land (in Square Meters) | m²			54,759
Price per share (in Yuan Renminbi per share) | (per share)		¥ 2.6		$ 0.0001
Equity transfer agreement amount (in Yuan Renminbi)	¥ 10.0
Mr. Tao Ling [Member]
Organization and Nature of Operations [Line Items]
Equity percentage ordinary shares			39.99%
Mr. Xiaohong Yin [Member]
Organization and Nature of Operations [Line Items]
Equity percentage ordinary shares			9.51%
Ou Xun [Member]
Organization and Nature of Operations [Line Items]
Shares percentage		1.00%
Jiangsu Austin [Member]
Organization and Nature of Operations [Line Items]
Ownership percentage			87.88%
Beijing Suhongyuanda Science and Technology Co., Ltd [Member]
Organization and Nature of Operations [Line Items]
Ownership percentage			9.97%
VIE Arrangement [Member]
Organization and Nature of Operations [Line Items]
Ownership percentage			97.85%
Ostin [Member]
Organization and Nature of Operations [Line Items]
Ownership percentage			100.00%
Mr. Tao Ling [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage						100.00%
Jiangsu Austin [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage			97.85%		39.97%
Shares (in Shares) | shares		500,000
WFOE [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage					97.85%
Ou Xun [Member]
Organization and Nature of Operations [Line Items]
Total consideration (in Yuan Renminbi)		¥ 1.3
Sichuan Auniuxin Materials Co., Ltd. [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage	28.57%
Nanjing Aoni [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage	71.43%
Amount paid (in Yuan Renminbi)	¥ 10.0
Nanjing Aoni [Member] | Mr. Ling Tao [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage			68.27%
Sichuan Auniuxin [Member]
Organization and Nature of Operations [Line Items]
Amount paid (in Yuan Renminbi)			¥ 8.3
Auniuxin [Member] | Mr. Ling Tao [Member]
Organization and Nature of Operations [Line Items]
Equity interests percentage			71.43%

Significant Accounting Policies (Details)				6 Months Ended
		Mar. 31, 2024 USD ($)	Apr. 01, 2019	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($) ¥ / shares	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2021
Significant Accounting Policies [Line Items]
Current assets		$ 20,997,329		$ 20,997,329	$ 20,997,329		$ 24,437,682
Current liabilities		39,052,608		39,052,608	39,052,608		40,531,407
Exceeded amount		18,055,279
Incurred net loss		(4,649,379)		(4,649,379)		$ (5,016,526)
Accumulated deficit		$ (13,107,089)		(13,107,089)	$ (13,107,089)		(8,465,867)
Advances to suppliers				$ 47,813		150,547
Residual value percentage		5.00%		5.00%	5.00%
Lease term								3 years
Purchase option price (in Yuan Renminbi per share) | ¥ / shares					$ 1
Third-party lenders		$ 983,163		$ 983,163	$ 983,163
Recognized interest expense				8,116		5,992
VAT rate			13.00%
Government subsidies	[1]			228,673		479,152
Shipping and handling costs				$ 149,786		288,767
Tax benefit percentage				50.00%
Minimum [Member] | Perspective Lessee [Member]
Significant Accounting Policies [Line Items]
Lease term		3 years		3 years	3 years
Maximum [Member] | Perspective Lessee [Member]
Significant Accounting Policies [Line Items]
Lease term		6 years		6 years	6 years
Government Subsidies [Member]
Significant Accounting Policies [Line Items]
Government subsidies				$ 228,673		$ 479,152
[1] Government subsidies as the compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related cost are recognized in profit or loss in the period in which they become receivable. Government subsidies as the support for certain assets were recorded in deferred government subsidies and are amortized in the future periods. For six months ended March 31, 2024 and 2023, the Company recorded government subsidies of $228,673 and $479,152 respectively.

Significant Accounting Policies (Details) - Schedule of Relevant Exchange Rates	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Period Ended [Member]
Schedule of Relevant Exchange Rates [Line Items]
Currency exchange rate	7.2203	7.296	6.8676
Period Average [Member]
Schedule of Relevant Exchange Rates [Line Items]
Currency exchange rate	7.2064	7.0533	6.9761

Significant Accounting Policies (Details) - Schedule of Property, Plant, and Equipment Useful Lives	Mar. 31, 2024
Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	20 years
Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Minimum [Member] | Transportation Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Minimum [Member] | Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Maximum [Member] | Transportation Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Maximum [Member] | Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years

Significant Accounting Policies (Details) - Schedule of Land Use Rights	Mar. 31, 2024
Minimum [Member]
Schedule of Land Use Rights [Line Items]
Land use rights	20 years
Maximum [Member]
Schedule of Land Use Rights [Line Items]
Land use rights	50 years

Significant Accounting Policies (Details) - Schedule of Intangible Assets Estimated Useful Lives	Mar. 31, 2024
Software [Member]
Significant Accounting Policies (Details) - Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Intangible assets Useful lives	3 years
Patent [Member]
Significant Accounting Policies (Details) - Schedule of Intangible Assets Estimated Useful Lives [Line Items]
Intangible assets Useful lives	10 years

Restricted Cash (Details) - Schedule of Restricted Cash - USD ($)	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Schedule of Restricted Cash [Line Items]
Restricted cash	$ 306,081	$ 302,906	$ 321,801
Pledge of bank deposit [Member]
Schedule of Restricted Cash [Line Items]
Restricted cash	$ 306,081	$ 302,906

Accounts Receivable (Details) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Accounts Receivable [Abstract]
Bad debt expense for doubtful accounts receivables	$ 35,310	$ 13,538

Accounts Receivable (Details) - Schedule of Accounts Receivable - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Accounts Receivable [Abstract]
Accounts receivable, gross	$ 4,889,970	$ 6,531,667
Less: allowance for credit losses	(82,032)	(46,722)
Accounts receivable, net	$ 4,807,938	$ 6,484,945

Accounts Receivable (Details) - Schedule of an Aged Analysis of Accounts Receivables - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of an Aged Analysis of Accounts Receivables [Line Items]
Accounts receivable, Gross	$ 4,889,970	$ 6,531,667
Allowance for credit losses	(82,032)	(46,722)
Accounts receivable, Net	4,807,938	$ 6,484,945
Within 90 days [Member]
Schedule of an Aged Analysis of Accounts Receivables [Line Items]
Accounts receivable, Gross	3,526,922
Allowance for credit losses
Accounts receivable, Net	3,526,922
91-180 days [Member]
Schedule of an Aged Analysis of Accounts Receivables [Line Items]
Accounts receivable, Gross	605,879
Allowance for credit losses
Accounts receivable, Net	605,879
181-365 days [Member]
Schedule of an Aged Analysis of Accounts Receivables [Line Items]
Accounts receivable, Gross	108,973
Allowance for credit losses	(5,448)
Accounts receivable, Net	103,525
Greater than 1 year [Member]
Schedule of an Aged Analysis of Accounts Receivables [Line Items]
Accounts receivable, Gross	648,196
Allowance for credit losses	(76,584)
Accounts receivable, Net	$ 571,612

Accounts Receivable (Details) - Schedule of Changes of Allowance for Doubtful Accounts - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Schedule of Changes of Allowance for Doubtful Accounts [Abstract]
Beginning balance	$ 46,722	$ 33,184
Additional reserve through bad debt expense	35,310	13,538
Bad debt write-off
Ending balance	$ 82,032	$ 46,722

Inventories (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Inventories [Abstract]
Goods in transit	$ 159,493		$ 1,714,861
Inventory provision	$ 293,774	$ 224,461

Inventories (Details) - Schedule of Inventories - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of inventories [Abstract]
Raw materials	$ 7,622,283	$ 9,016,981
Work in process	904
Finished goods	5,079,193	5,133,030
Goods in transit	159,493	1,714,861
Inventory provision	(1,739,721)	(1,445,947)
Total inventories, net	$ 11,122,152	$ 14,418,925

Property, Plant and Equipment, Net (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,192,368	$ 1,177,801
Purchase of property, plant and equipment	591,277	1,294,113
Purchase of building and equipment	24,359	3,640,520
Net book value	373,778	205,928
Plant, property and equipment cost	635,843	290,302
Accumulated depreciation	262,065	84,374
Cash from disposal	455,532	366,216
Net disposal income	$ 81,036	$ 160,288

Property, Plant and Equipment, Net (Details) - Schedule of Property Plant and Equipment - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	$ 32,327,205	$ 32,647,191
Less: accumulated depreciation	(8,593,384)	(7,591,164)
Property, plant and equipment, net	23,733,821	25,056,027
Buildings [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	19,838,425	20,258,258
Machinery and equipment [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	7,674,462	7,576,777
Electronic equipment [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	2,042,320	2,234,455
Transportation vehicles [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	341,468	337,925
Office equipment [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	294,822	283,972
Leasehold improvement on leased property [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	439,646	301,399
Construction in progress [Member]
Schedule of Property Plant and Equipment [Line Items]
Total property plant and equipment, at cost	$ 1,696,062	$ 1,654,405

Land Use Rights, Net (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Land Use Rights, Net [Abstract]
Amortization expense for land use rights	$ 45,000	$ 44,917

Land Use Rights, Net (Details) - Schedule of Land Use Rights - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Land Use Rights [Abstract]
Land use rights, at cost	$ 1,752,534	$ 1,734,351
Less: accumulated amortization	(300,319)	(252,756)
Total land use rights, net	$ 1,452,215	$ 1,481,595

Land Use Rights, Net (Details) - Schedule of Estimated Future Amortization Expense for Land Use Rights - Land Use Rights [Member]	Mar. 31, 2024 USD ($)
Land Use Rights, Net (Details) - Schedule of Estimated Future Amortization Expense for Land Use Rights [Line Items]
2025	$ 89,828
2026	89,828
2027	89,828
2028	89,828
2029	89,828
Thereafter	1,003,075
Total	$ 1,452,215

Intangible Assets, Net (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Intangible Assets, Net [Abstract]
Patent rights	$ 103,276
Amortization expense	$ 440,000	$ 213,300

Intangible Assets, Net (Details) - Schedule of Intangible Assets, Net - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, at cost	$ 6,574,575	$ 6,405,605
Less: accumulated amortization	(1,880,377)	(1,427,523)
Intangible assets, net	4,694,198	4,978,082
Purchased Software, Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, at cost	962,789	952,800
Purchased Patent, Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, at cost	2,221,085	2,080,949
Capitalized Software, Cost [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, at cost	$ 3,390,701	$ 3,371,856

Intangible Assets, Net (Details) - Schedule of Estimated Future Amortization Expense for Intangible Assets - Intangible Assets [Member]	Mar. 31, 2024 USD ($)
Intangible Assets, Net (Details) - Schedule of Estimated Future Amortization Expense for Intangible Assets [Line Items]
2025	$ 878,306
2026	878,306
2027	878,306
2028	878,306
2029	878,306
Thereafter	302,668
Total	$ 4,694,198

Long-Term Investment (Details) - Nanjing Baituo Visual Technology Co., Ltd [Member]	Mar. 31, 2024 USD ($)	Jul. 31, 2022 USD ($)	Jul. 31, 2022 CNY (¥)
Long-Term Investment [Line Items]
Long-term investment	$ 207,748	$ 223,881	¥ 1,500,000
Exchange rate		6.7	6.7
Equity percentage		15.00%	15.00%

Other Long-Term Receivable (Details)	Mar. 31, 2024
Minimum [Member]
Other Long-Term Receivable (Details) [Line Items]
Other receivables term non current	3 years
Maximum [Member]
Other Long-Term Receivable (Details) [Line Items]
Other receivables term non current	5 years

Other Long-Term Receivable (Details) - Schedule of Other Long-Term Receivable - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Other Long-Term Receivable [Abstract]
Other long-term receivables	$ 267,823	$ 248,011
Total	$ 267,823	$ 248,011

Convertible Notes (Details) - USD ($)			6 Months Ended
	Jan. 22, 2024	Jan. 19, 2024	Mar. 31, 2024	Mar. 31, 2023
Convertible Notes [Line Items]
Legal fees			$ 10,000
Prepayment of outstanding debt percentage			22.00%
Interest expense			$ 9,625
Amortization of debt discount			$ 11,030
Senior Unsecured Convertible Note [Member]
Convertible Notes [Line Items]
Maturity date			Jan. 22, 2025
Convertible note term			12 months
Discount amount			$ 40,000
Legal fees			$ 10,000
Redemption conversion price percentage			80.00%
Conversion price (in Dollars per share)			$ 0.1436
Trigger event percentage			25.00%
Convertible Debt [Member]
Convertible Notes [Line Items]
Purchase price		$ 500,000
Ordinary shares, par value (in Dollars per share)		$ 0.0001
Gross proceeds from sale of note	$ 500,000
Prepayment of outstanding debt percentage			120.00%
Convertible Debt [Member] | Senior Unsecured Convertible Note [Member]
Convertible Notes [Line Items]
Principal amount		$ 550,000
Interest rate			7.00%
Maximum [Member] | Senior Unsecured Convertible Note [Member]
Convertible Notes [Line Items]
Trigger event percentage			15.00%
Minimum [Member] | Senior Unsecured Convertible Note [Member]
Convertible Notes [Line Items]
Trigger event percentage			5.00%

Convertible Notes (Details) - Schedule of Amortized Cost of the Convertible Notes - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Amortized Cost of the Convertible Notes [Abstract]
Convertible Notes- Issued in Jan, 2024	$ 550,000
Less debt discount and debt issuance cost	38,970
Convertible notes	511,030
Less current portion of convertible notes payable	511,030
Long-term convertible notes payable

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Accrued Expenses and Other Current Liabilities [Abstract]
Deferred government subsidies	$ 885,209	$ 910,709
Tax payable	120,439	54,174
Wages Payable	137,705	105,079
Interest payable	85,557	304,222
Other payables and accruals	790,945	669,646
Total	$ 2,019,855	$ 2,043,830

Borrowings (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023	Aug. 31, 2021
Short-Term and Long-Term Borrowings [Line Items]
Short-term loans	$ 26,100,081		$ 23,915,792
Long term loan			1,644,737
Bank loans	274,123
Deposit	302,906
Restricted cash	302,906
Short-term loans guaranteed	$ 13,018,850	$ 5,387,616
Bear interest rate	4.42%
Total amount of loans	$ 7,264,299		7,879,608
Interest expense	568,495	121,498
Long-term borrowing amount		7,491
Short-Term Debt [Member]
Short-Term and Long-Term Borrowings [Line Items]
Short-term loans	26,100,081		23,915,792
Short-term borrowing interest expense	537,018	$ 566,254
Total amount of loans	18,835,782		16,036,184
Mr. Tao Ling [Member]
Short-Term and Long-Term Borrowings [Line Items]
Short-term loans	13,018,850
Long term loan	1,384,984
Bank loans	276,997
Deposit	306,081
Restricted cash	306,081
Short-term loans guaranteed			$ 9,594,299
Chengdu Airport Factoring [Member]
Short-Term and Long-Term Borrowings [Line Items]
Short-term loans	387,796
Long-Term Debt [Member] | Mr. Tao Ling [Member]
Short-Term and Long-Term Borrowings [Line Items]
Long term loan	1,370,614
Jiangsu Austin [Member]
Short-Term and Long-Term Borrowings [Line Items]
Equity Method Investments	$ 8,310,000
Equity stake, percentage	97.85%			39.97%
Disposal of pledged equity, percent	50.00%
Sichuan Ausheet [Member]
Short-Term and Long-Term Borrowings [Line Items]
Equity stake, percentage	50.00%

Borrowings (Details) - Schedule of Borrowings - Short-Term Debt [Member] - USD ($)		Mar. 31, 2024	Sep. 30, 2023
Schedule of Borrowings [Line Items]
Short-term bank loans		$ 18,835,782	$ 16,036,184
Short-term loans from third-party individuals and entities	[1]	7,264,299	7,879,608
Total		$ 26,100,081	$ 23,915,792
[1] As of March 31, 2024, the third-party loan balance includes a short-term loan of $387,796 from Chengdu Airport Factoring Company, with another third party, Chengdu Juyuan Company, providing a guarantee for the loan. Per the agreement among all parties, Jiangsu Austin has pledged its investment of $8.31 million, representing a 50% equity stake in Sichuan Ausheet, to secure the guarantee provided by Chengdu Juyuan Company. The equity pledge remains in effect as long as Sichuan Ausheet has an outstanding loan balance owed to Chengdu Airport Factoring Company. Upon repayment of the loan, Jiangsu Austin retains the right to dispose of the 50% pledged equity. There was no outstanding balance of the loan with Chengdu Airport Factoring Company as of September 30, 2023, hence no pledge at the time for this loan.

Borrowings (Details) - Schedule of Short-Term Bank Loans		6 Months Ended		12 Months Ended
		Mar. 31, 2024 USD ($)		Sep. 30, 2023 USD ($)		Mar. 31, 2024 CNY (¥)		Sep. 30, 2023 CNY (¥)
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 7,264,299		$ 7,879,608
Long-Term Debt [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount				1,644,737				¥ 12,000,000
Bank of Nanjing [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 2,631,470	[1]	$ 2,604,167	[2]	¥ 19,000,000	[1]	¥ 19,000,000	[2]
Issuance Date		Jul. 21, 2023	[1]	Jul. 21, 2023	[2]
Expiration Date		Jul. 01, 2024	[1]	Jul. 01, 2024	[2]
Interest		3.70%	[1]	3.70%	[2]	3.70%	[1]	3.70%	[2]
Bank of Nanjing One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 138,498	[1]	$ 137,061	[2]	¥ 1,000,000	[1]	¥ 1,000,000	[2]
Issuance Date		Jul. 21, 2023	[1]	Jul. 21, 2023	[2]
Expiration Date		Jul. 01, 2024	[1]	Jul. 01, 2024	[2]
Interest		3.70%	[1]	3.70%	[2]	3.70%	[1]	3.70%	[2]
Bank of China [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 553,994	[1]	$ 548,246	[2]	¥ 4,000,000	[1]	¥ 4,000,000	[2]
Issuance Date		Jul. 27, 2023	[1]	Jul. 27, 2023	[2]
Expiration Date		Jul. 25, 2024	[1]	Jul. 25, 2024	[2]
Interest		3.42%	[1]	3.42%	[2]	3.42%	[1]	3.42%	[2]
Bank of China One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 553,994	[1]	$ 274,123	[2]	¥ 4,000,000	[1]	¥ 2,000,000	[2]
Issuance Date		Jul. 26, 2023	[1]	Jul. 27, 2023	[2]
Expiration Date		Jul. 24, 2024	[1]	Feb. 26, 2024	[2]
Interest		3.42%	[1]	3.42%	[2]	3.42%	[1]	3.42%	[2]
Bank of Ningbo [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 1,384,984	[1]	$ 1,370,613		¥ 10,000,000	[1]	¥ 10,000,000
Issuance Date		Jun. 21, 2023	[1]	Jun. 21, 2023
Expiration Date		Jun. 20, 2024	[1]	Jun. 15, 2024
Interest		4.55%	[1]	4.55%		4.55%	[1]	4.55%
Bank of Jiangsu [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 692,492	[1]	$ 685,307		¥ 5,000,000	[1]	¥ 5,000,000
Issuance Date		Aug. 15, 2023	[1]	Aug. 15, 2023
Expiration Date		Aug. 14, 2024	[1]	Aug. 14, 2024
Interest		4.05%	[1]	4.05%		4.05%	[1]	4.05%
Bank of Jiangsu One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 415,495	[1]	$ 411,184		¥ 3,000,000	[1]	¥ 3,000,000
Issuance Date		Aug. 15, 2023	[1]	Aug. 15, 2023
Expiration Date		Aug. 14, 2024	[1]	Aug. 13, 2024
Interest		4.05%	[1]	4.05%		4.05%	[1]	4.05%
Bank of Bei Jing [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 1,384,984				¥ 10,000,000
Issuance Date	[1]	Apr. 28, 2023
Expiration Date	[1]	Apr. 27, 2024
Interest	[1]	3.65%				3.65%
Bank of Communications [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 830,990		$ 1,233,553		¥ 6,000,000		¥ 9,000,000
Issuance Date		Nov. 24, 2023		Jun. 29, 2023
Expiration Date		Nov. 23, 2024		Jun. 28, 2024
Interest		4.35%		3.70%		4.35%		3.70%
Postal Savings Bank of China [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 2,769,968				¥ 20,000,000
Issuance Date	[1]	Jan. 02, 2024
Expiration Date	[1]	Dec. 31, 2024
Interest	[1]	3.45%				3.45%
Bank of Communication One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 1,246,486				¥ 9,000,000
Issuance Date	[1]	Jun. 29, 2023
Expiration Date	[1]	Jun. 28, 2024
Interest	[1]	3.70%				3.70%
Bank of China Two [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 415,495	[1]	$ 548,246	[2]	¥ 3,000,000	[1]	¥ 4,000,000	[2]
Issuance Date		Jan. 23, 2024	[1]	Jul. 26, 2023	[2]
Expiration Date		Jun. 30, 2024	[1]	Jul. 25, 2024	[2]
Interest		3.05%	[1]	3.42%	[2]	3.05%	[1]	3.42%	[2]
Bank of Cheng Du [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 692,492				¥ 5,000,000
Issuance Date	[1]	Jul. 25, 2023
Expiration Date	[1]	Jul. 24, 2024
Interest	[1]	5.65%				5.65%
Bank of China Three [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 1,384,984	[1]	$ 1,370,614	[2]	¥ 10,000,000	[1]	¥ 10,000,000	[2]
Issuance Date		Aug. 21, 2023	[1]	Jun. 29, 2023	[2]
Expiration Date		Aug. 21, 2024	[1]	Jan. 28, 2024	[2]
Interest		5.55%	[1]	3.65%	[2]	5.55%	[1]	3.65%	[2]
Chengdu Rural Commercial Bank [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 1,384,984				¥ 10,000,000
Issuance Date	[1]	Dec. 22, 2023
Expiration Date	[1]	Dec. 21, 2024
Interest	[1]	3.55%				3.55%
China Construction Bank [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[1]	$ 692,492				¥ 5,000,000
Issuance Date	[1]	Mar. 11, 2024
Expiration Date	[1]	Mar. 10, 2025
Interest	[1]	3.95%				3.95%
Bank of Zijin Rural Commercial [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[3]	$ 276,997				¥ 2,000,000
Issuance Date	[3]	Mar. 29, 2023
Expiration Date	[3]	Mar. 28, 2025
Interest	[3]	4.35%				4.35%
Bank of Zijin Rural Commercial One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[4]	$ 657,867				¥ 4,750,000
Issuance Date	[4]	Mar. 03, 2023
Expiration Date	[4]	Mar. 03, 2025
Interest	[4]	4.35%				4.35%
Bank of Zijin Rural Commercial Two [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[4]	$ 727,116				¥ 5,250,000
Issuance Date	[4]	Jan. 31, 2023
Expiration Date	[4]	Jan. 20, 2025
Interest	[4]	4.35%				4.35%
Short-Term Debt [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount		$ 18,835,782		$ 16,036,184		¥ 136,000,000		¥ 117,000,000
Agricultural Bank of China [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount				$ 1,370,614				¥ 10,000,000
Issuance Date				Nov. 09, 2022
Expiration Date				Nov. 01, 2023
Interest				3.65%				3.65%
Bank of Beijing [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount				$ 1,370,614				¥ 10,000,000
Issuance Date				Apr. 28, 2023
Expiration Date				Apr. 27, 2024
Interest				3.65%				3.65%
Bank of Nanjing Two [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[2]			$ 685,307				¥ 5,000,000
Issuance Date	[2]			May 17, 2023
Expiration Date	[2]			Nov. 14, 2023
Interest	[2]			3.80%				3.80%
Agricultural Bank of China One [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[2]			$ 1,370,614				¥ 10,000,000
Issuance Date	[2]			Jan. 01, 2023
Expiration Date	[2]			Jan. 01, 2024
Interest	[2]			3.65%				3.65%
Bank of Chengdu [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[2]			$ 685,307				¥ 5,000,000
Issuance Date	[2]			Jul. 25, 2023
Expiration Date	[2]			Jul. 24, 2024
Interest	[2]			5.65%				5.65%
Bank of China Four [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[2]			$ 1,370,614				¥ 10,000,000
Issuance Date	[2]			Aug. 21, 2023
Expiration Date	[2]			Aug. 21, 2024
Interest	[2]			5.55%				5.55%
Bank of Zijin Rural Commercial [Member] | Long-Term Debt [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[5]			$ 274,123				¥ 2,000,000
Issuance Date	[5]			Mar. 29, 2023
Expiration Date	[5]			Mar. 28, 2025
Interest	[5]			4.35%				4.35%
Bank of Zijin Rural Commercial One [Member] | Long-Term Debt [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[6]			$ 651,042				¥ 4,750,000
Issuance Date	[6]			Mar. 03, 2023
Expiration Date	[6]			Mar. 03, 2025
Interest	[6]			4.35%				4.35%
Bank of Zijin Rural Commercial Two [Member] | Long-Term Debt [Member]
Schedule of Short-Term Bank Loans [Line Items]
Amount	[6]			$ 719,572				¥ 5,250,000
Issuance Date	[6]			Jan. 31, 2023
Expiration Date	[6]			Jan. 20, 2025
Interest	[6]			4.35%				4.35%
[1] As of March 31, 2024 a total of $13,018,850 short-term loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. [2] As of September 30, 2023, a total of $9,594,299 short term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023. [3] As of March 31, 2024, a total of $276,997 bank loans were obtained through pledging a fixed certificate of deposit worth $306,081, of which $306,081 is included in the restricted cash. [4] As of March 31, 2024, a total of $1,384,984 long-term bank loans were guaranteed by, or pledged by the personal assets owned by the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the six months ended March 31, 2024. [5] As of September 30, 2023, a total of $274,123 bank loans were obtained through pledging a fixed certificate of deposit worth $302,906, of which $302,906 is included in the restricted cash. [6] As of September 30, 2023, a total of $1,370,614 long term bank loans were guaranteed by, or pledged by the personal assets owned by, the Company’s major shareholder, Mr. Tao Ling and his immediate family members. No guarantee-fee was charged by Mr. Tao Ling and his immediate family members for the guarantees for the fiscal year ended September 30, 2023.

Borrowings (Details) - Schedule of Long-Term Borrowings - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Total		$ 1,644,737
Long-Term Bank Loans [Member]
Debt Instrument [Line Items]
Long-term bank loans		$ 1,644,737

Borrowings (Details) - Schedule of Pledges of Asset - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Pledges of Asset [Abstract]
Buildings, net	$ 819,422	$ 845,878
Bank deposit	306,081	302,906
Total	$ 1,125,503	$ 1,148,784

Long-Term Payables (Details)	Mar. 31, 2024 USD ($) ¥ / shares	Jul. 31, 2023	Sep. 30, 2023 USD ($)
Long-Term Payables [Abstract]
Contract price percentage		3.00%
Supplier after a period		2 years
Purchase price per share | ¥ / shares	¥ 1
Third-party lenders | $	¥ 983,163

Long-Term Payables (Details) - Schedule of Long-Term Borrowings - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Schedule of Long-Term Borrowings [Abstract]
Long- term payable (from guarantee deposit)	$ 274,438	$ 271,590
Long- term payable (from financial lease )	1,080,128
Less unrecognized financing expense	96,965
Total	1,257,601	271,590
Less current portion of long-term payable	532,426
Non current portion of long-term payable	$ 725,175	$ 271,590

Customer and Supplier Concentrations (Details)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Customer Concentration Risk [Member] | Customer One [Member] | Revenue Benchmark [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	32.70%	45.60%
Customer Concentration Risk [Member] | Customer One [Member] | Accounts Receivable [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	30.80%	48.20%
Customer Concentration Risk [Member] | Customer Two [Member] | Revenue Benchmark [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	10.60%	23.10%
Customer Concentration Risk [Member] | Customer Two [Member] | Accounts Receivable [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	14.20%
Customer Concentration Risk [Member] | Customer Three [Member] | Accounts Receivable [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	12.60%
Customer Concentration Risk [Member] | Customer Four [Member] | Accounts Receivable [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	12.20%
Customer Concentration Risk [Member] | Customer Five [Member] | Accounts Receivable [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	12.00%
Supplier Concentration Risk [Member] | Purchase [Member] | Suppliers One [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	42.40%	42.20%
Supplier Concentration Risk [Member] | Purchase [Member] | Suppliers Two [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	16.10%	12.20%
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Suppliers One [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	34.30%
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Suppliers Two [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage	11.50%
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier [Member]
Customer and Supplier Concentrations [Line Items]
Concentration risk percentage		80.50%

Related Party Transactions (Details) ¥ in Millions	Jan. 09, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Related Party Transactions [Line Items]
Bank loans guaranteed | $		$ 13,018,850	$ 5,387,616
Nanjing Aoni [Member]
Related Party Transactions [Line Items]
Amount paid	¥ 10.0
Ownership rate	71.43%
Ostin Technology Group Co., Ltd. [Member]
Related Party Transactions [Line Items]
Amount paid	¥ 8.3
Ownership rate	68.27%

Related Party Transactions (Details) - Schedule of Nature of Relationships with Related Parties	6 Months Ended
	Mar. 31, 2024
Tao Ling [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Principal shareholder, Chief Executive Officer and Chairman of the Company
Xiaohong Yin [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Principal shareholder and director of the Company
Bozhen Gong [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Yun Tan [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Rongxin Ling [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Peizhen Zhang [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Ying Ling [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Jing Ling [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Immediate family member of Tao Ling
Nanjing Shun yi Jing Electric Technology Co., Ltd. [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Principal shareholder is immediate family member of Tao Ling
Luzhou Nachuan Investment Limited [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	An entity which owns 5% equity interest of Luzhou Aozhi
Midea International Co., Ltd [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	Principal shareholder of the company	[1]
Nanjing Aoni Investment Management Partnership (Limited Partnership) [Member]
Schedule of Nature of Relationships with Related Parties [Line Items]
Relationship with the Company	An entity which owns 71.43% equity interest of Auniuxin	[2]
[1] Midea International Co., Ltd became a new related party in January 2024 through a private placement issuance [2] Nanjing Aoni Investment Management Partnership (Limited Partnership) became a new related party in January 2024 through its investment in Auniuxin.

Related Party Transactions (Details) - Schedule of Summarizes Borrowing Transactions - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	$ 5,466,903	$ 2,265,049
Payment/ Lending Amount	4,478,878	681,069
Tao Ling [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	416,297	394,203
Payment/ Lending Amount	416,297	143,347
Xiaohong Yin [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	1,706,816	1,799,173
Payment/ Lending Amount	2,092,403	236,694
Rongxin Ling [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	208,148
Payment/ Lending Amount
Peizhen Zhang [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	152,642
Payment/ Lending Amount
Bozhen Gong [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	83,259	71,673
Payment/ Lending Amount		$ 301,028
Ying Ling [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	83,259
Payment/ Lending Amount
Jing Ling [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	194,272
Payment/ Lending Amount	55,506
Yun Tan [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount
Payment/ Lending Amount	180,395
Nanjing Shun yi Jing Electric Technology Co., Ltd. [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	763,210
Payment/ Lending Amount	126,277
Midea International Co., Ltd [Member]
Schedule of Summarizes Borrowing Transactions [Line Items]
Borrowing/ Collecting Amount	1,859,000
Payment/ Lending Amount	$ 1,608,000

Related Party Transactions (Details) - Schedule of Related Party Transactions - Related Party [Member] - USD ($)	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Schedule of Related Party Transactions [Line Items]
Due to a related party	$ 66,206
Due from related parties	66,206
Midea International Co., Ltd [Member]
Schedule of Related Party Transactions [Line Items]
Due to a related party	$ 66,206
Due from related parties

Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties - USD ($)	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Related Party [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due from related parties	$ 66,206
Total due to related parties	4,223,696	3,005,577
Midea International Co., Ltd [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due from related parties	66,206
Midea International Co., Ltd [Member] | Related Party [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due from related parties
Xiaohong Yin [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	1,343,434	1,710,347
Bozhen Gong [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	152,348	68,531
Yun Tan [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties		178,180
Rongxin Ling [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	346,246	137,061
Peizhen Zhang [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	263,147	109,649
Ying Ling [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	221,597	137,061
Jing Ling [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	138,498
Nanjing Shun yi Jing Electric Technology Co., Ltd. [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	1,307,425	664,748
Midea International Co., Ltd [Member]
Related Party Transactions (Details) - Schedule of Net Outstanding Balances with Related Parties [Line Items]
Total due to related parties	$ 451,000

Stockholders’ Equity (Details)			6 Months Ended		12 Months Ended
	Mar. 28, 2024 $ / shares shares	Jan. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Nov. 20, 2023 ¥ / shares
Stockholders’ Equity (Details) [Line Items]
Preference shares			1,000,000		1,000,000
Repurchase canceled			2,000,000
Agreement issued		2,800,000
Price per share (in Dollars per share) | $ / shares		$ 0.35
Proceeds from the private placement (in Dollars) | $		$ 980,000	$ 980,000
Ordinary share consummated	2,000,000
Issuance price per share (in Dollars per share) | (per share)	$ 0.0001					¥ 2.6
Statutory laws (in Dollars) | $			1,497,772		$ 1,497,771
Non-controlling interests (in Dollars) | $			$ 1,378,821		$ 130,220
SHYD Investment Management Limited [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary share, par value (in Dollars per share) | $ / shares			$ 0.0001
Ordinary share, share issued			16,806,250
Repurchase amount (in Dollars) | $			$ 200
Ordinary share, share outstanding			16,806,250
SHYD Investment Management Limited [Member] | Mr. Xiaohong Yin [Member]
Stockholders’ Equity (Details) [Line Items]
Ownership percentage			6.50%
Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
After tax net income			10.00%
Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
After tax net income			50.00%
Ordinary Shares [Member] | SHYD Investment Management Limited [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary share, share issued			16,806,250
Ordinary Shares [Member] | Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary shares authorized	500,000,000
Ordinary share, par value (in Dollars per share) | $ / shares	$ 0.0001
Ordinary Shares [Member] | Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary shares authorized	5,000,000,000
Ordinary share, par value (in Dollars per share) | $ / shares	$ 0.0001
Class A Ordinary Shares [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary shares authorized			4,991,000,000		4,991,000,000
Ordinary share, par value (in Dollars per share) | $ / shares			$ 0.0001		$ 0.0001
Ordinary share, share issued			14,806,250		14,006,250
Ordinary share, share outstanding			14,806,250		14,006,250
Number of votes			one
Class A Ordinary Shares [Member] | Mr. Tao Ling [Member]
Stockholders’ Equity (Details) [Line Items]
Ownership percentage			12.89%
Class A Ordinary Shares [Member] | SHYD Investment Management Limited [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary share, share issued			16,806,250
Issued shares			2,000,000
Class B Ordinary Shares [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary shares authorized			8,000,000		8,000,000
Ordinary share, par value (in Dollars per share) | $ / shares			$ 0.0001		$ 0.0001
Ordinary share, share issued			2,000,000		0
Ordinary share, share outstanding			2,000,000		0
Number of votes			20
Class B Ordinary Shares [Member] | Mr. Tao Ling [Member]
Stockholders’ Equity (Details) [Line Items]
Ownership percentage			100.00%
Class B Ordinary Shares [Member] | SHYD Investment Management Limited [Member]
Stockholders’ Equity (Details) [Line Items]
Ordinary share, share issued			2,000,000
Issued shares			2,000,000

Other Income (Expenses), Net (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income (Expenses), Net [Abstract]
Government subsidies amount	$ 228,673	$ 479,152

Other Income (Expenses), Net (Details) - Schedule of Other Income (Expenses), Net - USD ($)		6 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Schedule of Other Income (Expenses), Net [Abstract]
Government subsidies	[1]	$ 228,673	$ 479,152
Other miscellaneous non-business income (loss)		16,200	20,830
Total other income (expenses), net		$ 244,873	$ 499,982
[1] Government subsidies as the compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related cost are recognized in profit or loss in the period in which they become receivable. Government subsidies as the support for certain assets were recorded in deferred government subsidies and are amortized in the future periods. For six months ended March 31, 2024 and 2023, the Company recorded government subsidies of $228,673 and $479,152 respectively.

Lease (Details) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Lease (Details) [Line Items]
Average interest rate	4.35%
Cash payments for operating leases	$ 119,640
Operating lease principal payments	118,248
Operating lease interest payments	$ 1,292
Minimum [Member]
Lease (Details) [Line Items]
Lease agreements	2 years
Maximum [Member]
Lease (Details) [Line Items]
Lease agreements	3 years

Lease (Details) - Schedule of ROU Assets and Liabilities - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Assets
Operating leases	$ 87,986	$ 141,772
Total right-of-use asset	87,986	141,772
Liabilities
Operating leases		(116,895)
Lease Liability-current		(104,000)
Lease Liability-Non current		12,895
Total lease liability		$ (116,895)

Income Taxes (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Income Taxes [Line Items]
Statutory income tax rate	25.00%
Tax benefit percentage	50.00%
Preferential tax rate	15.00%	15.00%
Allowance for the deferred tax assets (in Dollars)	$ 607,640		$ 601,336
Hong Kong [Member]
Income Taxes [Line Items]
Statutory income tax rate	16.50%
High and New Technology Enterprise [Member]
Income Taxes [Line Items]
Tax benefit percentage	15.00%
Renewed term	3 years

Income Taxes (Details) - Schedule of Reconciled to the Income Before Income Taxes - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Reconciled to the Income Before Income Taxes [Line Items]
Income before taxes excluded the amounts of loss incurring entities	$ 12
Tax at the PRC EIT tax rates	3
Tax effect of R&D expenses deduction	(110,759)
Tax effect of deferred tax recognized		$ 7,534
Tax effect of non-deductible expenses	110,756
Income tax (benefit) provision		$ (108,189)
Maximum [Member]
Schedule of Reconciled to the Income Before Income Taxes [Line Items]
PRC EIT tax rates	25.00%
Minimum [Member]
Schedule of Reconciled to the Income Before Income Taxes [Line Items]
PRC EIT tax rates	15.00%

Income Taxes (Details) - Schedule of Income Taxes - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Income Taxes [Abstract]
Current income tax	$ (162)	$ (115,723)
Deferred income tax	162	7,534
Total income tax (benefit) provision		$ (108,189)

Income Taxes (Details) - Schedule of Deferred Tax Assets and Deferred Tax Liabilities - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Deferred tax assets:
Allowance for credit losses	$ 95,556	$ 82,312
Inventory impairment provision	260,958	216,892
Other deductible temporary difference	(199,486)	(143,805)
Net operating loss carry-forward	450,612	445,937
valuation allowance for deferred income tax assets	(607,640)	(601,336)
Total

Commitment and Contingencies (Details) - Schedule of Capital Commitments Under Non-Cancelable Agreements	Mar. 31, 2024 USD ($)
Schedule of Capital Commitments Under Non-Cancelable Agreements [Abstract]
April 2024 to September 2024	$ 1,181,404
October 2024 to September 2025	299,137
October 2025 to September 2026
Thereafter
Total	$ 1,480,541

Disaggregated Revenue (Details) - Schedule of Revenue by Major Product Categories - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Revenue by Major Product Categories [Line Items]
Product category revenue amount	$ 14,973,048	$ 34,295,114
Product category % of revenue	100.00%	100.00%
Display modules [Member]
Schedule of Revenue by Major Product Categories [Line Items]
Product category revenue amount	$ 8,285,437	$ 15,137,071
Product category % of revenue	55.00%	44.00%
Polarizers [Member]
Schedule of Revenue by Major Product Categories [Line Items]
Product category revenue amount	$ 5,983,816	$ 16,974,322
Product category % of revenue	40.00%	49.00%
Others (repair services) [Member]
Schedule of Revenue by Major Product Categories [Line Items]
Product category revenue amount	$ 703,795	$ 2,183,721
Product category % of revenue	5.00%	6.00%

Segment Reporting (Details)	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Number of operating segment	1

Segment Reporting (Details) - Schedule of Revenues by Geographic Areas - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Revenues by Geographic Areas [Line Items]
Revenues Amount	$ 14,973,048	$ 34,295,114
Percentage of Revenues	100.00%	100.00%
Mainland China [Member]
Schedule of Revenues by Geographic Areas [Line Items]
Revenues Amount	$ 14,641,702	$ 33,524,738
Percentage of Revenues	98.00%	98.00%
Hong Kong and Taiwan [Member]
Schedule of Revenues by Geographic Areas [Line Items]
Revenues Amount	$ 331,346	$ 761,136
Percentage of Revenues	2.00%	2.00%
Southeast Asia [Member]
Schedule of Revenues by Geographic Areas [Line Items]
Revenues Amount		$ 9,240
Percentage of Revenues

Subsequent Events (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Millions			6 Months Ended
	Jun. 21, 2024 USD ($)	Nov. 20, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 28, 2024 $ / shares	Jan. 31, 2024 shares	Sep. 30, 2023 $ / shares shares
Subsequent Events [Line Items]
Estimated expenses			$ 1,250,000
Interest rate, percentage			7.00%
Issued discount			$ 100,000
Legal fees			$ 10,000
Equity transfer agreement (in Shares) | shares		500,000
Agreement rate		1.00%
Total consideration (in Yuan Renminbi) | ¥		¥ 1.3
Consideration price per share (in Yuan Renminbi per share) | (per share)		¥ 2.6		$ 0.0001
Jiangsu Austin Optoelectronics Technology Co., Ltd. [Member]
Subsequent Events [Line Items]
Agreement rate		1.00%
Streeterville Capital, LLC [Member]
Subsequent Events [Line Items]
Cash price, percentage			120.00%
Midea International Co., Ltd [Member]
Subsequent Events [Line Items]
Ordinary shares issued (in Shares) | shares					2,800,000
Class A Ordinary Shares [Member]
Subsequent Events [Line Items]
Ordinary shares, par value (in Dollars per share) | $ / shares			$ 0.0001			$ 0.0001
Ordinary shares issued (in Shares) | shares			14,806,250			14,006,250
Forecast [Member]
Subsequent Events [Line Items]
Purchase price	$ 1,250,000
Forecast [Member] | Streeterville Capital, LLC [Member]
Subsequent Events [Line Items]
Convertible principal amount	$ 1,360,000

Condensed Financial Information of the Parent Company (Unaudited) (Details)			1 Months Ended		6 Months Ended
	Mar. 28, 2024 $ / shares shares	Jan. 31, 2024 USD ($) $ / shares shares	Apr. 29, 2022 USD ($) $ / shares shares	Dec. 31, 2020 shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Nov. 20, 2023 ¥ / shares	Sep. 30, 2023 USD ($) $ / shares shares
Condensed Financial Information of the Parent Company [Line Items]
Preferred stock, shares authorized					1,000,000			1,000,000
Preferred stock, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
Initial public offering	2,000,000
Price per share (in Dollars per share) | $ / shares		$ 0.35
Issuance of ordinary share		2,800,000
Purchase price per share (in Dollars per share) | (per share)	$ 0.0001						¥ 2.6
Proceeds private placement of ordinary shares (in Dollars) | $		$ 980,000			$ 980,000
Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Preferred stock, shares authorized					1,000,000			1,000,000
Preferred stock, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
c					16,806,250
Total number of ordinary shares outstanding					16,806,250
Ordinary share surrender				27,175,000
Gross proceeds (in Dollars) | $			$ 15,525,000
Additional paid-in capital (in Dollars) | $			$ 12,408,634
Issuance of ordinary share		2,800,000
Proceeds private placement of ordinary shares (in Dollars) | $		$ 980,000
issuance price per share (in Dollars per share) | $ / shares	$ 0.0001
Parent [Member] | Mr. Xiaohong Yin [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ownership percentage					6.50%
Parent [Member] | Maximum [Member]
Condensed Financial Information of the Parent Company [Line Items]
Total number of ordinary shares outstanding				37,300,000
Parent [Member] | Minimum [Member]
Condensed Financial Information of the Parent Company [Line Items]
Total number of ordinary shares outstanding				10,125,000
Class A Ordinary Shares [Member]
Condensed Financial Information of the Parent Company [Line Items]
Common stock, share issued					4,991,000,000			4,991,000,000
Ordinary share, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
Ordinary share, share issued					14,806,250			14,006,250
Par value after deduction (in Dollars) | $					$ 1,481			$ 1,401
Class A Ordinary Shares [Member] | Mr. Tao Ling [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ownership percentage					12.89%
Class A Ordinary Shares [Member] | Common Stock [Member]
Condensed Financial Information of the Parent Company [Line Items]
Common stock, share issued					4,991,000,000
Class A Ordinary Shares [Member] | Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Common stock, share issued					4,991,000,000			4,991,000,000
Ordinary share, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
Ordinary share, share issued					14,806,250			14,006,250
Par value after deduction (in Dollars) | $					$ 1,481			$ 1,401
Class A Ordinary Shares [Member] | Parent [Member] | Mr. Tao Ling [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ownership percentage					12.89%
Class B Ordinary Shares [Member]
Condensed Financial Information of the Parent Company [Line Items]
Common stock, share issued					8,000,000			8,000,000
Ordinary share, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
Ordinary share, share issued					2,000,000			0
Par value after deduction (in Dollars) | $					$ 200
Class B Ordinary Shares [Member] | Mr. Tao Ling [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ownership percentage					100.00%
Class B Ordinary Shares [Member] | Common Stock [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ordinary share, share issued					8,000,000
Class B Ordinary Shares [Member] | Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Common stock, share issued					8,000,000			8,000,000
Ordinary share, par value (in Dollars per share) | $ / shares					$ 0.0001			$ 0.0001
Ordinary share, share issued					2,000,000			0
Par value after deduction (in Dollars) | $					$ 200
Shares issued	2,000,000
Class B Ordinary Shares [Member] | Parent [Member] | Mr. Xiaohong Yin [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ownership percentage					100.00%
Class B Ordinary Shares [Member] | Mr. Tao Ling [Member] | Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ordinary share, share issued					2,000,000
Initial Public Offering [Member]
Condensed Financial Information of the Parent Company [Line Items]
Price per share (in Dollars per share) | $ / shares			$ 4
Par value after deduction (in Dollars) | $			$ 388
Initial Public Offering [Member] | Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Ordinary share, par value (in Dollars per share) | $ / shares			$ 0.0001
Ordinary share, share issued			506,250
Initial public offering			3,881,250
Net proceeds (in Dollars) | $			$ 12,409,022
Private Placement [Member] | Parent [Member]
Condensed Financial Information of the Parent Company [Line Items]
Purchase price per share (in Dollars per share) | $ / shares		$ 0.35

Condensed Financial Information of the Parent Company (Unaudited) (Details) - Schedule of Condensed Financial Information - Parent [Member] - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
ASSETS
Cash and cash equivalents	$ 4,598		$ 10,336
Prepayments, deposits and other current assets	9,291,400		8,272,000
Investment in subsidiaries	13,340,885		13,340,885
Total assets	22,636,883		21,623,211
LIABILITIES AND SHAREHOLDERS’ EQUITY
Convertible notes	511,030
Accrued expenses and other current liabilities	24,625		55,000
Total liabilities	535,655		55,000
SHAREHOLDERS’ EQUITY
Preference share, $0.0001 per value, 1,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and September 30, 2023
Additional paid-in capital	24,235,939		23,256,219
Retained earnings	(2,136,392)		(1,689,399)
Accumulated other comprehensive loss
Total equity of the Company’s shareholders	22,101,228		21,568,221
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	22,636,883		21,623,221
Operating expenses:
General and administrative expenses	(424,073)	$ (329,931)
Bank charges and others	(22,290)
Total operating expenses	(446,993)	(329,931)
Other non-business income
Net loss	(446,993)	(329,931)
Total comprehensive loss	(446,993)	(329,931)
Cash Flows from Operating Activities:
Net loss	(446,993)	(329,931)
Changes in operating assets and liabilities:
Prepaid expenses and other receivables	(1,019,400)	325,000
Accrued expenses and current liabilities	(19,345)
Net cash used in operating activities	(1,485,738)	(4,931)
Cash Flows from Investing Activities:
Long-term investment
Net cash used in investing activities
Cash Flows from Financing Activities:
Net proceeds from private placement	980,000
Payments to related parties
Convertible notes	500,000
Net cash provided by financing activities	1,480,000
Effect of changes in currency exchange rates
Net decrease in cash and cash equivalents	(5,738)	(4,931)
Cash, cash equivalents and restricted cash at the beginning of year	10,336	17,673
Cash and cash equivalents and restricted cash at the end of year	4,598	$ 12,742
Class A Ordinary Shares [Member]
SHAREHOLDERS’ EQUITY
Ordinary shares, value	1,481		1,401
Class B Ordinary Shares [Member]
SHAREHOLDERS’ EQUITY
Ordinary shares, value	$ 200

Condensed Financial Information of the Parent Company (Unaudited) (Details) - Schedule of Condensed Financial Information (Parentheticals) - Parent [Member] - $ / shares	Mar. 31, 2024	Sep. 30, 2023
Schedule of Condensed Financial Information [Line Items]
Preference shares, per value (in Dollars per share)	$ 0.0001	$ 0.0001
Preference share, shares authorized	1,000,000	1,000,000
Preference share, shares issued	0	0
Preference share, shares outstanding	0	0
Class A Ordinary Shares [Member]
Schedule of Condensed Financial Information [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	4,991,000,000	4,991,000,000
Ordinary shares, shares issued	14,806,250	14,006,250
Ordinary shares, shares outstanding	14,806,250	14,006,250
Class B Ordinary Shares [Member]
Schedule of Condensed Financial Information [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	8,000,000	8,000,000
Ordinary shares, shares issued	2,000,000	0
Ordinary shares, shares outstanding	2,000,000	0

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