J-Star Holding Reaffirms 50-Year Advanced Composite Craftsmanship and Executive Financial Commitment, Highlighted by Tier 1 Carbon Fiber Supplier Partnership and Automated U.S. UAV Production

Executive debt conversion and cancellation reduce debt, while supplier investment frameworks remain in preparation.

Rhea-AI Summary

J-Star Holding (Nasdaq: YMAT) issued a corporate update covering executive debt actions and preparations for U.S. carbon fiber supply collaboration.

Chairman and CEO Jonathan Chiang has converted $8.2 million of debt into equity and canceled an additional $1.7 million in debt. J-Star is preparing for meetings and facility visits with Japanese multinational Tier 1 carbon fiber suppliers. Its Taiwan research and development head is traveling to Houston for coordination discussions. The parties are coordinating investment frameworks and timelines for U.S. raw-material supply and expanded U.S. supply chain investments; collaboration preparations remain preliminary.

3 points · 2 major

MixediHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointJonathan Chiang’s $8.2 million debt-to-equity conversion reduces J-Star’s debt. 1.8× market cap
• Major pointJonathan Chiang’s additional $1.7 million debt cancellation removes another debt obligation. 38% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.J-Star and suppliers plan expanded U.S. supply chain investments alongside carbon fiber supply coordination.

Negative

• Major pointThe $8.2 million debt-to-equity conversion dilutes existing shareholders. 1.8× market cap
• Moderate pointSupplier collaboration remains in preliminary preparation, with investment frameworks and timelines still being coordinated.

Key Figures

Debt converted to equity: $8.2 million Debt cancellation: $1.7 million

Debt converted to equity

$8.2 million

Chairman and CEO converted debt into equity

Debt cancellation

$1.7 million

Additional debt cancellation by the chairman and CEO

Key Terms

carbon fiber, airframes

2 terms

carbon fiber technical

"Japanese multinational Tier 1 carbon fiber suppliers"

Carbon fiber is a material made from very thin strands of carbon woven together and bonded with resin to create a lightweight, extremely strong composite. Think of it as a high-strength fabric that replaces heavier metals: it improves fuel efficiency, performance and durability in products from vehicles to wind turbines, so its cost, availability and technological advances directly affect manufacturers’ production costs, product competitiveness and profit margins—key factors for investors.

airframes technical

"local U.S. production of drone airframes"

The airframe is the physical structure of an aircraft—the fuselage, wings, tail, landing gear and control surfaces—and generally excludes the engines, avionics and payload. Investors care about airframes because their design, materials, manufacturability and maintenance needs determine production costs, certification hurdles, operating life, resale and aftermarket revenue; think of an airframe as the aircraft’s chassis, which drives most of the long-term costs and value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TAICHUNG CITY, Taiwan, Nov. 11, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), an innovator in advanced composite manufacturing, today issued a corporate update aimed at aligning timelines with Tier 1 carbon fiber suppliers, highlighting management's financial commitment, and detailing the collaboration between both parties on local U.S. production of drone airframes.

Jointly Building Strategic Cooperation and Investment Frameworks for Each Party

As part of the preliminary preparations for upcoming strategic meetings and facility visits with Japanese multinational Tier 1 carbon fiber suppliers, J-Star’s Taiwan R&D head is traveling to Houston to participate in detailed discussions and advance pre-meeting coordination. J-Star will detail key operational milestones and investment frameworks for future collaboration, while both parties coordinate the necessary investments and timelines for the U.S. supply of Tier 1 carbon fiber raw materials, alongside expanded supply chain investments in the United States, to ensure a robust, adequate, and timely flow of materials.

Substantial Executive Financial Commitment

Demonstrating strong collaboration and mutual rapport with our raw material suppliers, J-Star’s management detailed the implementation of significant balance sheet strengthening initiatives. As previously disclosed, Chairman and Chief Executive Officer Jonathan Chiang has personally converted $8.2 million of debt into equity, alongside an additional $1.7 million in debt cancellation. This decisive action substantially improves the Company's financial structure and further aligns executive interests with those of public shareholders.

About J-Star Holding Co., Ltd.

J-Star Holding Co., Ltd. (Nasdaq: YMAT) develops and commercializes cutting-edge technology in carbon reinforcement and resin systems. The company is a global manufacturer of carbon fiber and composite material products, with a legacy in high-performance cycling components and a growing portfolio of applications across healthcare, automotive, and other advanced materials markets. Headquartered in Taichung, Taiwan, J-Star is backed by 50 years of industrial manufacturing experience with IP technology developed to facilitate its expansion into United States. For more information, visit j-starholding.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the Company's capital markets strategy, its U.S. expansion plans, and its evaluation of opportunities in aerospace and defense-adjacent markets. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including those described in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F and its registration statement on Form F-3, as amended. The Company undertakes no obligation to update any forward-looking statements, except as required by law.

Contact

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What debt actions did J-Star Holding CEO Jonathan Chiang complete?

Jonathan Chiang converted $8.2 million of debt into equity and canceled an additional $1.7 million in debt. Both actions were previously disclosed.

What is the status of J-Star Holding’s U.S. carbon fiber supplier collaboration?

J-Star is in preliminary preparations for meetings and facility visits with Japanese multinational Tier 1 carbon fiber suppliers. The parties are coordinating investments and timelines for U.S. carbon fiber raw-material supply and expanded U.S. supply chain investments.