6-K 1 form6-k.htm 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of December 2025.

 

Commission File Number 001-42767

 

J-Star Holding Co., Ltd.

(Translation of registrant’s name into English)

 

7/F-1, No. 633, Sec. 2, Taiwan Blvd.,

Xitun District, Taichung City 407,

Taiwan (R.O.C.)

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒ Form 40-F

 

 

 

 

 

 

J-Star Holding Co., Ltd. Announces Unaudited Interim 2025 Financial Results

 

J-Star Holding Co., Ltd. (“J-Star” or the “Company”) (Nasdaq: YMAT), a company which develops and commercializes the technology on carbon reinforcement and resin systems and with operations conducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its headquarters in Taiwan, today announced its unaudited financial results for the six months ended June 30, 2025.

 

J-Star Holding Co., Ltd. and its Subsidiaries

Interim Condensed Consolidated Balance Sheets

Expressed in United States Dollars

 

   As of June 30,   As of December 31, 
   2025   2024 
Assets  (Unaudited)    (Audited)  
Current assets        
Cash and cash equivalents  $909,995   $649,106 
Current financial assets at amortized cost   611,427    574,391 
Accounts receivable, net   7,512,294    1,277,928 
Accounts receivable due from related parties, net   5,482,668    5,029,583 
Other receivables   1,762,648    1,952,834 
Others receivables due from related parties   805,527    526,882 
Inventories, net   830,461    555,680 
Prepayments   618,243    519,817 
Prepayment to a related party   2,110,639    - 
Guarantee deposits - Current assets   149,189    - 
Deferred IPO Cost   1,762,434    1,623,627 
Current assets   22,555,525    12,709,848 
Non-current assets          
Non-current financial assets at fair value through other comprehensive income   1,789,804    1,789,804 
Long-term receivables from related parties   8,300,723    8,300,723 
Property, plant, and equipment, net   532,853    451,742 
Right-of-use assets, net   183,056    164,140 
Intangible assets, net   15,557    2,572 
Deferred tax assets, net   431,375    433,800 
Guarantee deposits - Non-current assets   59,064    133,390 
Other non-current assets   438,656    390,363 
Non-current assets   11,751,088    11,666,534 
Total assets  $34,306,613   $24,376,382 
Liabilities and Equity        
Current liabilities          
Short-term loans  $13,173,145   $8,999,751 
Long-term loans due within one year   516,444    42,478 
Contract liabilities   193,583    107,786 
Accounts payable   5,780,818    209,567 
Other payables   348,388    802,840 
Current tax liabilities   -    16,415 
Current lease liabilities   146,909    163,775 
Other current liabilities   26,422    28,235 
Current liabilities   20,185,709    10,370,847 
Non-current liabilities          
Long-term loans   1,072,029    995,290 
Deferred tax liabilities   20,128    10,982 
Non-current lease liabilities   36,511    - 
Non-current liabilities   1,128,668    1,006,272 
Total liabilities   21,314,377    11,377,119 
Equity          
Equity attributable to owners of parent        
Share capital   7,881,444    7,881,444 
Capital surplus   7,913,602    7,847,746 
Accumulated deficit   (3,232,143)   (3,237,380)
Accumulated other comprehensive income   429,333    507,453 
Total equity   12,992,236    12,999,263 
Total liabilities and equity  $34,306,613   $24,376,382 

 

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J-Star Holding Co., Ltd. and its Subsidiaries

Unaudited Interim Condensed Consolidated Statements of Comprehensive Income

Expressed in United States Dollars

 

   For the six months ended
June 30
 
   2025   2024 
Operating revenue  $10,588,835   $ 8,098,739  
Cost of revenue   (7,740,725)    (5,650,177) 
Gross profit from operations   2,848,110     2,448,562  
Operating expenses          
Selling expenses   (607,807)    (645,251) 
Administrative expenses   (1,620,373)   (924,572)
Research and development expenses   (466,351)    (297,959) 
Reversal of expected credit losses   -    42,537  
Operating expenses   (2,694,531)    (1,825,245) 
Net operating income   153,579     623,317  
Non-operating income and expenses        
Other losses, net   (41,575)   (10,109)
Finance costs   (210,043)    (448,432) 
Interest income   75,150    21,331 
Foreign exchange gains   37,546     206,819  
Non-operating expenses, net   (138,922)    (230,391) 
Profit before income tax   14,657     392,926  
Income tax (expense) credit   (9,420)    86,343  
Profit after income tax  $5,237   $ 479,269  
Components of other comprehensive loss that will be reclassified to profit or loss          
Exchange differences on translation of foreign operations   (78,120)    (34,526) 

Total comprehensive (loss) income

  $(72,883)  $444,743 
        
Basic and diluted          
Earnings per share  $0.00   $ 0.03  

 

Safe Harbor Statements

 

This filing contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as J-Star’s strategic and operational plans, contain forward-looking statements. J-Star may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about J-Star’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: changes in political, social and economic conditions, the regulatory environment, laws and regulations and interpretation thereof in the jurisdictions where we conduct business or expect to conduct business; the risk that we may be unable to realize our anticipated growth strategies and expected internal growth; its future business development, results of operations and financial condition; changes in the availability and cost of professional staff which we require to operate our business; changes in customers’ preferences and needs; changes in competitive conditions and our ability to compete under such conditions; changes in our future capital needs and the availability of financing and capital to fund such needs; changes in currency exchange rates or interest rates; projections of revenue, earnings, capital structure and other financial items; changes in our plan to enter into certain new business sectors; and other factors beyond our control. Further information regarding these and other risks is included in J-Star’s filings with the SEC. All information provided in this report and in the attachments is as of the date of this report, and J-Star undertakes no obligation to update any forward-looking statement, except as required under applicable law.

 

Other Information

 

On December 18, 2025, the Company issued a press release entitled “J-Star Announces Interim Financial Results for the First Six Months of 2025.” A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release dated December 18, 2025

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: December 18, 2025 J-Star Holding Co., Ltd.
     
  By: /s/ Sam Van
  Name: Sam Van
  Title: Chief Executive Officer

 

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