J-Star Holding Co., Ltd. (YMAT) AI Stock Analysis

• Market Cap: $11.13M
• Dividend Yield: N/A
• Average Volume (3M): 464.70K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 2.03
• Revenue Growth: 11.79%
• EPS Growth: -65.99%
• Country: US
• Employees: 65
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): N/A
• Shares Outstanding: 17,200,386
• 10 Day Avg. Volume: 51,346
• 30 Day Avg. Volume: 464,702
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: $0.72 ▲(4.06% Upside)

The overall stock score of 58 reflects the company's mixed financial performance, with strengths in profitability and a stable balance sheet, offset by declining revenue and negative cash flow trends. Technical analysis indicates bearish momentum, while valuation metrics suggest the stock is reasonably priced. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Revenue Growth

The significant revenue growth of over 30% in 1H 2025 indicates strong market demand and successful business model evolution, positioning the company for sustained growth.

Strategic Expansion

Establishing U.S.-based manufacturing capabilities will enhance operational efficiency, reduce costs, and improve market responsiveness, supporting long-term growth.

Product Innovation

Introducing new products like pickleball paddles taps into high-growth markets, diversifying revenue streams and strengthening competitive positioning.

Negative Factors

Declining Revenue

A negative revenue growth rate reflects challenges in maintaining sales momentum, which could hinder long-term financial performance and market competitiveness.

Negative Cash Flow Trends

Negative cash flow trends indicate potential liquidity issues, limiting the company's ability to invest in growth opportunities and manage debt effectively.

Nasdaq Noncompliance

Noncompliance with Nasdaq's listing requirements could lead to delisting risks, affecting investor confidence and access to capital markets.

J-Star Holding Co., Ltd. Business Overview & Revenue Model

Company Description

J-Star Holding Co., Ltd. (YMAT) is a diversified investment holding company primarily engaged in the sectors of technology, manufacturing, and real estate. The company focuses on developing innovative solutions and products, leveraging advanced technology to enhance operational efficiencies across its subsidiaries. J-Star Holding Co., Ltd. is committed to sustainability and aims to create value through strategic investments in high-growth industries, while also providing essential services in property management and development.

How the Company Makes Money

J-Star Holding Co., Ltd. generates revenue through several key streams. Primarily, it earns income from its technology arm by developing and selling software solutions and digital products to various industries. The manufacturing sector contributes significantly by producing a range of goods, which are sold both domestically and internationally. Real estate operations provide another revenue stream through property sales, leasing, and management services. Additionally, the company has formed strategic partnerships with other firms to co-develop products and share resources, enhancing its market reach and financial performance. These diverse revenue sources, combined with an emphasis on innovation and collaboration, are central to the company’s financial success.

J-Star Holding Co., Ltd. Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	17.56M	23.78M	39.38M	31.33M	22.18M
Gross Profit	5.63M	2.92M	9.08M	8.99M	7.36M
EBITDA	1.87M	2.36M	3.54M	1.61M	2.78M
Net Income	1.10M	1.42M	124.31K	-132.90K	1.11M
Balance Sheet
Total Assets	24.38M	21.09M	40.74M	40.43M	28.59M
Cash, Cash Equivalents and Short-Term Investments	649.11K	559.46K	2.95M	3.12M	2.11M
Total Debt	10.20M	8.05M	11.16M	7.27M	4.60M
Total Liabilities	11.38M	9.24M	30.84M	31.15M	19.37M
Stockholders Equity	13.00M	11.85M	9.90M	9.27M	9.22M
Cash Flow
Free Cash Flow	-3.09M	6.93M	2.82M	-1.82M	-421.54K
Operating Cash Flow	-3.06M	7.04M	4.04M	-539.22K	237.73K
Investing Cash Flow	1.81M	-8.57M	-2.02M	-895.93K	-1.24M
Financing Cash Flow	1.41M	-780.44K	-2.03M	2.92M	860.47K

J-Star Holding Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FSI	61 Neutral	$88.85M	48.14	5.08%	―	0.18%	-54.25%
YMAT	58 Neutral	$11.13M	17.46	8.89%	―	11.79%	-65.99%
GEVO	55 Neutral	$523.39M	-11.23	-9.27%	―	675.75%	42.00%
GURE	48 Neutral	$5.93M	-0.09	-43.37%	―	61.85%	49.02%
LOOP	47 Neutral	$45.64M	-3.88	―	―	11013.00%	39.85%

J-Star Holding Co., Ltd. Corporate Events

J-Star Holding Posts Strong 1H 2025 Revenue Growth but Flat Profit as It Repositions Around Branded Composites and U.S. Expansion

On December 18, 2025, J-Star Holding Co., Ltd. reported unaudited results for the first half of 2025, showing revenue of $10.6 million for the six months ended June 30, 2025, up 30.7% year on year, driven by roughly fivefold growth in rackets and technical services that more than offset deliberate reductions in lower-margin bicycle volumes and weaker crank sales. Gross profit rose to $2.8 million but gross margin slipped to 26.9% from 30.2% as the company shifted its racket business model and prepared to exit China OEM production, while higher administrative and R&D costs linked to its Nasdaq listing, the launch of premium bike brand QO Bikes and automation work for a planned Texas factory pushed operating income down to $154,000 and net profit after tax to just $5,000; nonetheless, management highlighted the successful $5 million IPO in July 2025, the roll-out of in-house pickleball paddle brand YMA and early steps toward U.S. manufacturing as key strategic moves to reposition the group for higher-growth, higher-value markets.

J-Star Holding Receives Nasdaq Notification for Bid Price Deficiency

On December 12, 2025, J-Star Holding Co., Ltd. received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement of $1 per share for its Class A ordinary shares. The company has been given a compliance period until June 10, 2026, to rectify this issue by ensuring the share price meets the requirement for at least ten consecutive business days. If compliance is not achieved within this period, J-Star may qualify for an additional 180-day grace period, provided it meets other listing standards. The announcement does not result in immediate delisting, and the shares will continue trading under the symbol ‘YMAT’. J-Star is actively exploring options to regain compliance, although there is no assurance of success.

J-Star Holding Co., Ltd. Approves Share Capital Restructuring

On December 9, 2025, J-Star Holding Co., Ltd. held a General Meeting where shareholders approved five proposals, including a reorganization of the company’s share capital and the adoption of a dual class share structure. This restructuring involves reclassifying existing shares into Class A and Class B shares, with Class B shares carrying ten votes each, and increasing the authorized share capital to accommodate new shares. These changes are expected to enhance the company’s governance flexibility and align with its strategic objectives, potentially impacting its market positioning and shareholder dynamics.

J-Star Holding Schedules Shareholder Meeting for Major Capital Restructuring

J-Star Holding Co., Ltd. announced a general meeting of shareholders scheduled for December 9, 2025, where several key resolutions will be voted on. These include a reorganization of the company’s share capital, an increase in authorized share capital, adoption of a new memorandum and articles of association, and a proposal for the repurchase and issuance of shares involving New Moon Corporation and Mr. Jing-Bin Chiang. The board recommends shareholders vote in favor of all proposals, which aim to restructure the company’s capital and governance framework.

J-Star Holding Appoints Sam Van as CEO Amidst Strategic Expansion

On October 1, 2025, J-Star Holding Co., Ltd. announced the appointment of Sam Van as the new Chief Executive Officer, succeeding Jonathan Chiang, who will continue as Chairman of the Board. This leadership change comes at a pivotal time as the company, following its recent initial public offering, plans to expand its operations into the United States and launch new product lines. Mr. Van’s extensive experience in capital markets and leadership roles is expected to help J-Star accelerate its growth and enhance its global footprint.