J-Star Holding Co., Ltd.

General Information
Business:

As a holding company with no material operations of our own, our operations are conducted through our subsidiaries in the People’s Republic of China (the “PRC”), Taiwan, Hong Kong and Samoa, with our headquarters in Taiwan, and such structure involves unique risks to investors, as the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time. (Incorporated in the Cayman Islands) 

Our Predecessor Group was established in 1970 and we have accumulated over 50 years know-how in material composite industry. We develop and commercialize the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, we are able to apply our expertise and technology on designing and manufacturing 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. According to the industry report commissioned by us and prepared by Frost & Sullivan, we are one of the major global leading players in the carbon fiber bicycle parts industry and carbon fiber racket parts industry.

We primarily generate revenue through three divisions and revenue streams, namely (i) sales of bicycles parts of sports bicycle and electric bicycle; (ii) sales of rackets for use in tennis, badminton, squash and beach tennis; and (iii) sales of other products, which mainly include structural parts of automobile, other sporting goods and healthcare products. Our bicycle parts and rackets are mainly supplied directly or indirectly to branded customers located in Switzerland, France, Italy, the Netherlands, Germany and Japan and they market and distribute their products worldwide. Other customers who rely on our new products, such as automobile parts and healthcare products, are mainly located in Australia, Canada and Japan.

*For the fiscal year ended Dec. 31, 2021, our operating revenue was $31.3 million, and our loss after income tax from continuing operations was $0.1 million.

(Note: J-Star Holding Co. Ltd. upsized its IPO in an F-1/A filing dated Sept. 2, 2022: 5.375 million shares at $4.00 – up from 5.25 million shares at $4.00 in a previous filing on Aug. 19, 2022. Under the new terms, the IPO’s proceeds are estimated at $21.5 million – or $500,000 more than the previous terms. J-Star Holding Co. Ltd. disclosed terms for its IPO in an F-1/A filing dated July 13, 2022: 3.75 million ordinary shares at $4.00 each to raise $15.0 million. J-Star Holding filed an F-1/A dated May 26, 2022, with financial information for the fiscal year ended Dec. 31, 2021. The company filed its F-1 on March 21, 2022, after submitting confidential IPO paperwork on Sept. 30, 2021.)

 

Industry: Bicycle & auto parts, sports rackets, healthcare products
Employees: 817
Founded: 1970
Contact Information
Address 7/F-1, No. 633, Sec. 2, Taiwan Blvd., Xitun District, Taichung City 407, Taiwan (R.O.C.)
Phone Number + 886-423229900
Web Address
View Prospectus: J-Star Holding Co., Ltd.
Financial Information
Market Cap $84.55mil
Revenues $31.3 mil (last 12 months)
Net Income $-0.1 mil (last 12 months)
IPO Profile
Symbol YMAT
Exchange NASDAQ
Shares (millions): 5.4
Price range $4.00 - $4.00
Est. $ Volume $21.5 mil
Manager / Joint Managers ViewTrade Securities
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change