J-Star Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

Rhea-AI Summary

J-Star (Nasdaq: YMAT) received a Nasdaq notice dated December 12, 2025 saying its 30-day closing bid price failed to meet the $1 minimum required by Nasdaq Listing Rule 5550(a)(2). The notice gives J-Star a 180-calendar-day compliance period to regain a $1 closing bid for at least ten consecutive business days.

If J-Star fails to cure within 180 days, it may be eligible for an additional 180-day period by meeting market value and other initial listing standards (except bid price) and notifying Nasdaq of intent to cure, potentially via a reverse stock split. The letter is not an immediate delisting and shares will continue trading under YMAT. J-Star said it is evaluating options to regain compliance but gave no assurance of success.

Positive

• Shares continue trading uninterrupted under YMAT
• Company has a 180-day initial compliance period
• Potential additional 180-day cure period if listing standards met

Negative

• Company failed Nasdaq minimum bid price of $1
• Risk of Nasdaq delisting if deficiency is not cured within compliance periods
• Cure may require a reverse stock split, which can dilute or alter float

Key Figures

Minimum bid price $1 per share Nasdaq Listing Rule 5550(a)(2) requirement

Noncompliance period 30 consecutive business days Period with closing bid below $1 triggering deficiency notice

Initial compliance window 180 calendar days Time allowed under Rule 5810(c)(3)(A) to regain compliance

Required bid-price streak 10 consecutive business days Minimum time bid must be at or above $1 to cure

Additional compliance window 180 calendar days Potential second period if Nasdaq grants extension

Notification date December 12, 2025 Date of Nasdaq noncompliance letter

Current share price $0.751 Price before/around publication relative to $1 bid rule

52-week range $0.65–$6.45 Current price well below 52-week high and near low

Market Reality Check

$0.6790 Last Close

Volume Volume 20,295 is about 0.15x the 20-day average of 135,960, indicating relatively muted trading ahead of and around this notice. low

Technical Shares at $0.751 are trading below the $1 Nasdaq bid requirement and below the $1.83 200-day MA, having fallen 88.36% from the $6.45 52-week high and sitting above the $0.65 52-week low.

Peers on Argus

YMAT declined 10.03% while peers showed mixed moves: SNES -4.28%, CNEY -7.65%, BON -1.69%, BSLK -13.19%, and BGLC +2.22%. With no peers in the momentum scanner and no same-day peer news, today’s move appears more company-specific to the Nasdaq deficiency notice.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 09	Dual-class approval	Negative	+9.1%	Shareholders approved dual-class structure and large authorized capital increase.
Nov 17	AGM announcement	Neutral	+1.1%	Notice of annual general meeting to vote on share reorganisation items.
Nov 03	Product approval	Positive	-2.3%	USAPA approval for Supernova pickleball paddle supporting DTC strategy.
Oct 20	Strategic cooperation	Positive	-8.6%	Company welcomed Nasdaq–Ho Chi Minh City MoU supporting regional growth plans.
Oct 06	Product approval	Positive	-3.2%	USAPA approval for Horizon paddle marking entry into DTC pickleball market.

Pattern Detected

Recent history shows frequent negative price reactions to otherwise positive corporate developments, indicating a pattern of divergence where the stock often sells off or underperforms on upbeat news.

Recent Company History

Over the last few months, J-Star has focused on governance changes and product expansion. On Oct 6, it gained USAPA approval for its Horizon paddle, yet shares fell 3.2%. Further positive updates on Vietnam financial center cooperation (Oct 20) and USAPA approval for Supernova (Nov 3) were followed by declines. In contrast, shareholder actions around dual-class shares and capital increases on Dec 9 drove a 9.07% gain. Today’s Nasdaq bid-price deficiency highlights mounting listing pressure after this sequence of mixed reactions.

Market Pulse Summary

The stock moved -9.6% in the session following this news. A negative reaction to a Nasdaq minimum bid-price deficiency fits a risk-off pattern for YMAT, which already trades at $0.751, well below the $1 requirement and its $1.83 200-day MA. The letter starts a 180-day clock, and while extensions and tools like a reverse split are mentioned, the history of weak responses to positive news could amplify concerns about longer-term listing stability.

Key Terms

nasdaq listing rules 5550(a)(2) regulatory

"under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price"

Nasdaq Listing Rule 5550(a)(2) is a Nasdaq Capital Market standard that sets a minimum share-price requirement companies must meet to list their common stock on that market. Think of it as a minimum entrance score for a club: if a stock trades below the required price, the company can face warnings or removal, which matters to investors because it affects liquidity, tradability and perceptions of company stability.

reverse stock split financial

"by effecting a reverse stock split, if necessary."

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

market value of publicly held shares financial

"required to meet the continued listing requirement for market value of publicly held shares"

The market value of publicly held shares is the total dollar worth of a company’s shares that are available to outside investors, calculated by multiplying the current market price by the number of shares held by the public (the “float”). It matters because it tells investors how much of the company is actually tradable and how the market is pricing that tradable portion—like a price tag on the items on a store shelf, it affects liquidity, volatility and how easy it is to buy or sell a meaningful stake.

delisting regulatory

"Nasdaq will provide notice that its securities will be subject to delisting."

Delisting occurs when a company's stock is removed from a stock exchange and is no longer available for trading there. This can happen voluntarily or because the company no longer meets the exchange's requirements. For investors, delisting means they can no longer buy or sell shares of that company on the exchange, which may make it more difficult to sell their investments or affect the stock's value.

AI-generated analysis. Not financial advice.

TAICHUNG CITY, Taiwan, Dec. 16, 2025 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), a leading provider of innovative carbon fiber and composite solutions across a wide range of applications including personal sports equipment, healthcare products, automobile parts, resin systems, and research and development services, today announced it has received a letter of noncompliance from The Nasdaq Stock Market LLC ("Nasdaq"), dated December 12, 2025, notifying the Company that based on J-Star’s closing bid price for the last 30 consecutive business days, the Company no longer meets the continued listing requirement of Nasdaq, under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.

However, pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days in which to regain compliance. If at any time during this 180-day period the closing bid price of the Company’s security is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide J-Star with written confirmation of compliance and this matter will be closed.

In the event the Company does not regain compliance, J-Star may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If J-Star meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that its securities will be subject to delisting.

The Nasdaq notification letter does not result in the immediate delisting of the Company's Class A ordinary shares, and the shares will continue to trade uninterrupted under the symbol "YMAT."

J-Star is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although J-Star will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement.

About J-Star Holding Co., Ltd.

J-Star (NASDAQ: YMAT) is a holding company with operations conducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its headquarters in Taiwan. J-Star’s predecessor group was established in 1970, and has accumulated over 50 years of know-how in material composites industry. J-Star develops and commercializes the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, J-Star is able to apply its expertise and technology to design and manufacture a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products. Visit j-starholding.com and ymaunivers.com to learn more.

Forward Looking-Statements

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the final prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and J-Star specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Matt Chesler, CFA
FNK IR
646-809-2183
investor@j-starholding.com

FAQ

What did Nasdaq notify J-Star (YMAT) about on December 12, 2025?

Nasdaq notified J-Star that its 30-day closing bid price was below the $1 minimum required under Rule 5550(a)(2).

How long is the compliance period for J-Star (YMAT) to regain the $1 bid price?

J-Star has an initial 180-calendar-day period to regain a closing bid of at least $1 for ten consecutive business days.

Can J-Star (YMAT) get more time from Nasdaq if it misses the first 180 days?

Yes—J-Star may be eligible for an additional 180-day cure period if it meets market value of publicly held shares and other initial listing standards and notifies Nasdaq.

Will J-Star (YMAT) be immediately delisted after the Nasdaq notice?

No—the Nasdaq letter does not result in immediate delisting and the company's shares will continue to trade under YMAT.

What actions did J-Star mention to regain Nasdaq compliance for YMAT?

J-Star said it is evaluating options and noted a reverse stock split may be used if necessary to cure the bid-price deficiency.