TAICHUNG, Taiwan and HOUSTON, Nov. 02, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), an innovator in advanced composite manufacturing, today announced that shareholders approved key capital restructuring initiatives at the Company’s extraordinary general meeting (the “Meeting”) held on October 29, 2026. The capital restructuring initiatives approved by our shareholders represent a deliberate and crucial step in our broader strategy. By moderating insider ownership concentration to enhance market liquidity, and by building a robust financial foundation following our debt-to-equity conversion, we are optimizing our capital structure pending the final approval of Nasdaq. These proactive measures are specifically designed to support our aggressive strategic growth, advanced unmanned aerial vehicle (UAV) carbon fiber frame manufacturing and commercialization roadmap in the United States.
At the Meeting, among the proposals approved was authorization for a 1-for-10 share consolidation, which will become effective subject to the receipt of all necessary regulatory clearances. The Company will announce the effective date in a subsequent press release.
The shareholder approvals at the Meeting follow the Company’s previously announced $8.2 million debt-to-equity conversion in May 2026 and the irrevocable cancellation of an additional $1.7 million in shareholder debt by the Company’s Chief Executive Officer, Mr. Jing-Bin Chiang, in June 2026. Together, these initiatives represent meaningful progress in reducing outstanding obligations, strengthening the Company's balance sheet, and aligning its financial structure with its longer-term strategic objectives.
Taiwan Engineering and R&D Capabilities Support U.S. Expansion
In March 2026, J-Star invested approximately $4.0 million to acquire, upgrade, and outfit a corporate office and dedicated research and development facility in Taiwan. The investment reflects the Company’s commitment to consolidating its engineering, research and technical resources to accelerate the development and commercialization of its advanced composite technologies.
The Taiwan facility is expected to play an important role in supporting J-Star’s U.S. expansion by leveraging the Company’s established engineering expertise, intellectual property, and manufacturing to develop higher-value composite applications and support commercial manufacturing opportunities in the United States. Through this complementary operating structure, J-Star aims to combine its technical foundation in Taiwan with its strategic growth initiatives in the U.S. market.
Management Commentary
Mr. Jing-Bin Chiang, Chairman of the Board of Directors and Chief Executive Officer of J-Star, commented:
“Shareholder approval of these capital restructuring initiatives represents an important milestone in our ongoing efforts to strengthen J-Star's financial position and align our capital structure with our long-term business objectives. Combined with the previously announced debt-to-equity conversion and shareholder debt cancellation, we believe these actions provide a stronger financial foundation as we advance our strategic priorities.”
“Equally important, we are continuing to invest in the engineering, research, and technical capabilities that underpin our next phase of growth. Our Taiwan operations provide an established foundation of engineering expertise and manufacturing experience that we intend to leverage as we expand our commercial manufacturing presence in the United States. We are grateful for the continued support of our long-term shareholders as we execute this strategy and work to create sustainable value for our 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
