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YMAT

J-Star Holding Co., Ltd. Ordinary Shares

YMAT

J-Star Holding Co., Ltd. Ordinary Shares • NASDAQ
$0.73 ▼ -2.77% (-0.02)
Market Cap $12.60 M
52w High $6.45
52w Low $0.72
Dividend Yield 0%
P/E 12.21
Volume 19.97K
Outstanding Shares 17.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $649.106K ▼ $24.376M ▲ $11.377M ▲ $12.999M ▲
Q2-2024 $1.12M $23.244M $10.881M $12.363M

Five-Year Company Overview

Income Statement

Income Statement The business appears to be operating at a very small scale, with revenue that has stayed low and fairly flat over the past few years. Gross profit is positive but thin, suggesting limited pricing power or still‑developing efficiency. Operating and net income hover around break‑even, which fits an early‑stage or niche manufacturer that is investing to build capabilities rather than producing strong profits. The earnings per share history looks volatile relative to the tiny profit base, so results could swing meaningfully with even modest changes in demand or costs.

Balance Sheet

Balance Sheet No balance sheet details are provided, so it’s impossible to judge the company’s financial strength, debt load, or liquidity from this data. That means there is no clear view on how much cushion it has to absorb downturns, fund expansion, or withstand delays in new projects. For a manufacturing business investing in R&D and global expansion, the missing information on assets, cash, and leverage is a key uncertainty.

Cash Flow

Cash Flow Cash flow information is not disclosed here, leaving a major gap in understanding the quality and sustainability of the business. For a company like this, cash generation versus cash consumption matters more than accounting profit, especially during growth and innovation phases. Without data on operating cash flow, capital spending, or free cash flow, it’s unclear whether expansion and R&D are being comfortably funded from internal resources or require ongoing external support.

Competitive Edge

Competitive Edge J‑Star operates in a specialized corner of the materials market, focused on carbon fiber composites, and benefits from decades of manufacturing experience through its subsidiary. Its vertically integrated model—from resin formulation to finished components and even bicycle assembly—gives it tighter control over quality, customization, and costs than many peers that outsource steps. Long‑standing OEM and ODM relationships with global brands create some stickiness and repeat business. At the same time, the company is exposed to competitive pressure from other composite manufacturers, potential customer concentration, and cyclicality in end markets like cycling and autos, so maintaining differentiation and service quality is crucial.

Innovation and R&D

Innovation and R&D Innovation is a clear focus: J‑Star runs its own resin R&D lab, develops tailored materials, and plans an additional R&D center in the United States to be closer to automotive and healthcare customers. The company is also investing in automation and next‑generation composite formulations, which could improve both performance and cost efficiency over time. The launch of its own premium cycling components brand, QO Bikes, shows a move from being purely a behind‑the‑scenes supplier to owning more of the value chain and brand equity. However, there is no visibility into how much it spends on R&D, how quickly new technologies will be commercialized, or whether these initiatives will scale profitably, so execution risk remains meaningful.

Summary

Overall, J‑Star appears to be a niche, innovation‑driven carbon fiber specialist with deep technical know‑how and long operating history, but still modest scale and thin profitability based on the limited income data. Its strengths lie in vertical integration, customized materials, and long‑term relationships with global brands, plus an ambitious push into higher‑growth areas like electric vehicles, healthcare, and premium cycling components. The lack of disclosed balance sheet and cash flow data is a significant blind spot, making it hard to assess financial resilience and funding capacity for its expansion plans. The story hinges on J‑Star’s ability to turn its technical edge and new initiatives—such as the U.S. R&D center and QO Bikes—into durable, higher‑margin revenue while managing competitive pressures and the risks that come with scaling up from a small base.

NEWS

November 17, 2025 · 7:00 AM UTC

J-Star Announces General Meeting of Shareholders

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November 3, 2025 · 7:00 AM UTC

J-Star Receives USAPA Approval for its Second In-House Pickleball Paddle, Supernova

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October 20, 2025 · 7:00 AM UTC

J-Star Applauds the Cooperation of Nasdaq and Ho Chi Minh City to Develop an International Financial Center in Vietnam

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October 6, 2025 · 7:00 AM UTC

USA Pickleball Grants Official Approval and Certification for J-Star's First In-House Pickleball Paddle, Horizon

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September 22, 2025 · 4:05 PM UTC

J-Star Holding Names Sam Van as Chief Executive Officer

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