The J-Star Holding Co., Ltd. (Nasdaq: YMAT) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as a foreign private issuer in the specialty chemicals and carbon composites space. J-Star files annual reports on Form 20-F and current reports on Form 6-K, which together outline its financial performance, capital structure, governance decisions, and key operational updates.
In its Form 6-K filings, J-Star furnishes interim condensed consolidated financial statements, including balance sheets, statements of comprehensive income, and details on operating revenue, cost of revenue, gross profit, operating expenses, non-operating items, and profit after income tax. These filings also present information on cash and cash equivalents, short-term and long-term loans, accounts receivable, inventories, and equity attributable to owners of the parent.
Beyond financial data, J-Star uses Form 6-K to report corporate actions and governance matters, such as the adoption of a dual class share structure, changes in authorized share capital, results of shareholder votes at general meetings, and the use of home country corporate governance practices under Nasdaq’s foreign private issuer rules. The company also discloses Nasdaq listing communications, including notices related to minimum bid price requirements and associated compliance periods.
Stock Titan enhances these filings with AI-powered tools that summarize lengthy documents like the 20-F and 6-K exhibits, highlight important changes in revenue, expenses, and equity, and help users quickly identify items related to governance, capital structure, and listing status. Users interested in YMAT can review J-Star’s filed financial statements, shareholder meeting materials, and Nasdaq correspondence to better understand the company’s carbon reinforcement and resin systems business, its risk profile, and its obligations as a Nasdaq-listed issuer.
J-Star Holding Co., Ltd. (YMAT) reported revenue of $6,767,591 for the six months ended June 30, 2026, down 36.1% from $10,588,835, and a net loss after income tax of $1,567,791 versus profit of $5,237 a year earlier. Racket revenue rose 6.7% to $6,053,369, or 89.4% of total revenue; revenue from Heyuan Taiji Composite Materials Co., Ltd. was $5,971,664, equal to 88.2% of total revenue. Bicycle-frame revenue fell 81.1% to $528,621, and service revenue was $0 after two service contracts expired in December 2025.
Gross profit declined 66.2% to $961,984, with gross profit margin at 14.2% versus 26.9%; management attributed the decline primarily to lower service revenue. It attributed the net loss primarily to approximately $1.1 million in share-based compensation expense. At June 30, 2026, cash and equivalents were $595,013 and working capital was $1,760,286, compared with $97,669 and a $7,293,503 working capital deficit at December 31, 2025.
J-Star completed the acquisition of its Taichung headquarters property in March 2026 for revised consideration of NT$120,000,000; the remaining NT$96,000,000 was settled through a mortgage loan.
J-Star Holding Co., Ltd. (YMAT) reported unaudited six-month revenue of $6,767,591 versus $10,588,835, and a net loss of $1,567,791 versus profit of $5,237. Operating cash outflow was $829,790, compared with $1,402,279. J-Star attributed lower sales mainly to exiting legacy China OEM business and shifting toward U.S. manufacturing operations for commercial and defense unmanned aerial systems.
Equity was $2,772,072 at June 30, 2026, versus a $6,777,635 deficit at December 31, 2025; total borrowings were $7,505,763 versus $12,642,862. The period included conversion of an $8.2 million loan from Yu-Ning Chiang, a family member of CEO Jing-Bin Chiang, into Class A shares, and cancellation by Jing-Bin Chiang of $1,743,411 in shareholder debt; both were recorded in equity.
J-Star's shelf for up to $150,000,000 of Class A ordinary shares became effective September 23, 2026. On September 24, 2026, it entered an agreement giving it the right, but not obligation, to sell up to $35,000,000 of Class A shares to Hudson Global Ventures, LLC over a 36-month commitment period, at an initial purchase price equal to 95% of the average of the three lowest traded prices during the five trading days immediately before each Put Date. J-Star also issued warrants, as consideration, for up to 525,000 ordinary shares.
J-Star Holding Co., Ltd. (YMAT) called a Class A meeting and an extraordinary general meeting for October 29, 2026, to consider changes to Class B voting rights, authorized capital and share structure. At the Class Meeting, shareholders will consider increasing each Class B share’s votes from 10 to 50, subject to Class B class consent.
At the General Meeting, proposals include increasing authorized share capital from US$300,000,000 to US$2,500,000,000 by creating 880,000,000 additional Class A shares. Further proposals would reduce the par value of issued Class A and Class B shares from US$2.50 to US$0.001; the reduction credit would go to a distributable reserve that may be used to set off accumulated losses. Other proposals would subdivide authorized but unissued shares into US$0.001-par shares, then consolidate each 10 shares of each class into one US$0.01-par share. Proposed post-consolidation authorized capital is US$1,000,000, comprising 94,000,000 Class A and 6,000,000 Class B shares. The revised articles are subject to separate Class A and Class B consents and would take effect after the voting-rights change and consolidation. The board recommends voting “FOR” all items.
J-Star Holding Co., Ltd. (YMAT) announced that Chairman and Chief Executive Officer Jonathan Chiang will relocate full-time to the United States to lead U.S. operations and support the company’s growth strategy. He will focus on working with customers, manufacturing partners and other stakeholders as J-Star develops higher-value carbon fiber and composite applications, including healthcare products, structural automotive parts and branded consumer products.
Since announcing its exit from China operations in January 2026, J-Star has focused on its carbon fiber and composite materials business. It is evaluating opportunities to expand U.S. manufacturing in aerospace and defense-adjacent markets and said it will provide updates if and when specific plans are finalized. The company also said its previously filed Form F-3 shelf registration statement was declared effective on September 23, 2026.
J-Star Holding Co., Ltd. (YMAT) entered into an equity purchase agreement with Hudson Global Ventures, LLC, giving J-Star the right, but not the obligation, to sell up to $35,000,000 of Class A ordinary shares over 36 months from September 24, 2026. Each Put Notice may cover at least $25,000 worth of shares, calculated using the Initial Purchase Price, and at most the lesser of $2,500,000 on that same basis or 200% of Average Daily Trading Value.
The Initial Purchase Price is 95% of the average of the three lowest traded prices of the ordinary shares during the five trading days before each Put Date. J-Star also issued warrants to purchase up to an aggregate of 525,000 ordinary shares as consideration for the investor’s commitment. Under a separate registration rights agreement, J-Star agreed to file a registration statement covering resale of shares issuable under the purchase agreement and shares underlying the warrants.
J-Star Holding Co., Ltd. (YMAT) has filed an amended Form F-3 shelf registration to offer, from time to time, up to $150,000,000 of Class A ordinary shares, debt securities, warrants, rights, and units, in one or more primary offerings. The shelf uses Form F-3’s limited public-float capacity, as public float is about $5.59 million, so any 12‑month primary takedown cannot exceed one‑third of that amount while float remains below $75 million.
J-Star is a Cayman holding company whose operations run mainly through subsidiaries in Taiwan and Hong Kong, with limited PRC subsidiaries focused on non‑manufacturing activities and outsourced PRC production during a transition toward automation-driven U.S. manufacturing. The company develops and sells carbon composite bicycle parts, rackets, and other lightweight products, with total revenue of $23.8 million, $17.6 million, and $9.9 million in 2023, 2024, and 2025, respectively.
The filing highlights extensive regulatory risk related to PRC oversight (CSRC filing regime, data and cybersecurity rules) and the HFCAA. PRC counsel opines that current Nasdaq listing and this offering are not treated as an indirect overseas listing requiring CSRC filing, and that existing PRC licenses are in place, but the company warns that future regulatory changes or contrary views by PRC authorities could hinder or prevent future offerings or continued U.S. listing.
J-Star Holding Co., Ltd. (YMAT) has filed a Form F-3 shelf registration to offer, from time to time after effectiveness, up to $150,000,000 of Class A ordinary shares, debt securities, warrants, rights and units, individually or in combination. The Class A ordinary shares are listed on the Nasdaq Capital Market under the symbol YMAT.
J-Star is a Cayman holding company whose operating subsidiaries in Taiwan, Hong Kong and Samoa develop and sell carbon-composite products, mainly structural parts for electric and sports bicycles, rackets, auto and healthcare components. Revenue was $23.8 million, $17.6 million and $9.9 million for 2023, 2024 and 2025, respectively, with bicycle parts contributing a majority of sales historically. The group has disposed of 80.5% of two former PRC manufacturing subsidiaries and is shifting toward outsourced production and planned U.S.-based, automation-driven facilities while retaining limited-scale PRC entities for trading. The prospectus highlights extensive regulatory risks tied to evolving PRC oversight of overseas listings, cybersecurity and data laws, as well as potential trading prohibitions under the Holding Foreign Companies Accountable Act if PCAOB inspections were to be restricted again.
J-Star Holding Co., Ltd. reports that Nasdaq has determined the company has regained compliance with Nasdaq Listing Rule 5550(a)(2), the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The decision followed a July 21, 2026 hearing at which management presented its strategic business plan.
Nasdaq’s Listing Qualifications Staff confirmed on July 28, 2026 that J-Star’s ordinary shares maintained a closing bid price of at least $1.00 per share for 10 consecutive trading sessions. J-Star remains listed on The Nasdaq Capital Market under ticker “YMAT” and is in compliance with all applicable Nasdaq continued listing requirements, but is subject to a Mandatory Panel Monitor through July 30, 2027, during which any future Nasdaq Listing Rule violation would lead directly to a delist determination without an additional grace period.
J-Star Holding Co., Ltd. will implement a 1-for-5 share consolidation of its Class A and Class B ordinary shares, effective July 10, 2026. From that date, Class A shares will trade on the Nasdaq Capital Market on a post-consolidation basis under the same symbol, YMAT, but with a new CUSIP.
The company states that the goal of this share consolidation is to help regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its Nasdaq listing. Every five shares with par value US$0.50 will be converted into one share with par value US$2.50. Fractional shares will not be issued; instead, any fractional amounts will be rounded up to the next whole share.
The consolidation will affect all shareholders uniformly and is not expected to change individual ownership percentages, other than minor effects from rounding. J-Star’s board of directors approved the action on May 8, 2026, and shareholders approved it on June 8, 2026.