TAICHUNG CITY, Taiwan, Dec. 16, 2025 — J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), a leading provider of innovative carbon fiber and composite solutions spanning diverse applications like personal sports gear, healthcare products, auto parts, resin systems, and R&D services, today disclosed that it has received a noncompliance notice from The Nasdaq Stock Market LLC (“Nasdaq”) dated December 12, 2025. The notice informs the Company that its closing bid price over the past 30 consecutive business days means it no longer meets Nasdaq’s ongoing listing requirement under Rule 5550(a)(2) to maintain a minimum $1 per share bid price.
Under Nasdaq Listing Rule 5810(c)(3)(A), however, the Company is granted a 180-calendar-day window to regain compliance. If at any point during this period the Company’s stock closes at $1 or higher for 10 straight business days, Nasdaq will send J-Star written confirmation of compliance, and this matter will be resolved.
Should the Company fail to regain compliance within this timeframe, J-Star may be eligible for an extension. To qualify, the Company must meet the ongoing listing criteria for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market (excluding the bid price requirement), and submit written notice of its intent to fix the deficiency during the second compliance period—including via a reverse stock split if necessary. If J-Star meets these conditions, Nasdaq will grant an additional 180 calendar days. But if Nasdaq determines the Company cannot remedy the issue or is otherwise ineligible, it will issue a notice that the Company’s securities face delisting.
This Nasdaq notice does not trigger immediate delisting of the Company’s Class A ordinary shares; they will continue trading uninterrupted under the ticker symbol “YMAT.”
J-Star is currently evaluating options to regain compliance and plans to meet Nasdaq’s ongoing listing requirements promptly. While J-Star will make all reasonable efforts to comply with Rule 5550(a)(2), there is no guarantee it will succeed in regaining compliance with that rule or meet other Nasdaq ongoing listing criteria.
About J-Star Holding Co., Ltd.
J-Star (NASDAQ: YMAT) is a holding company operating through subsidiaries in Taiwan, Hong Kong, and Samoa, with headquarters in Taiwan. Its predecessor group was founded in 1970, accumulating over 50 years of expertise in the material composites industry. J-Star develops and commercializes technologies for carbon reinforcement and resin systems. Leveraging decades of composite and material experience, J-Star uses its know-how to design and manufacture a wide range of lightweight, high-performance carbon composite products—from key structural parts for electric and sports bicycles to rackets, auto parts, and healthcare items. Visit j-starholding.com and to learn more.
Forward Looking-Statements
Certain statements in this press release regarding future expectations, plans, and prospects—along with any others not related to historical facts—may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements about expected trading commencement and closing dates. Words like “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar terms identify forward-looking statements, though not all such statements use these words. Actual results may differ materially from those indicated by these statements due to key factors, including market condition uncertainties and other issues discussed in the “Risk Factors” section of the final prospectus filed with the SEC. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements herein. All forward-looking statements are current as of the date of this release, and J-Star explicitly disclaims any obligation to update them—unless required by law—whether due to new information, future events, or other reasons.
Contact:
Matt Chesler, CFA
FNK IR
646-809-2183
