J-Star
Carbon-composite bicycle and racket supplier expanding into brands and technical services.
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Profile
Sells carbon-composite bicycle components, rackets, and other parts through OEM/ODM, brand, technical-service, and material-supply channels, while shifting from China-centered production toward third-party manufacturing and U.S. automation.
Designs, develops, sources, and sells carbon-fiber and advanced-composite products across bicycle parts, rackets, and other industrial and healthcare applications. Its bicycle range includes frames, seat posts, forks, pedals, cranks, and handlebars; its racket range covers tennis, badminton, squash, and beach tennis.
Combines carbon reinforcement and resin systems, Taichung materials R&D, product design, procurement, outsourced manufacturing, and sales. Revenue historically came from OEM/ODM component and finished-product sales, while newer activity spans technical services, raw-material supply, and the QO Bikes, LITZMO, and YMA Horizon brands.
Operates internationally, with most customer cash inflows handled by its Hong Kong sales company and Italy its largest disclosed market. The announced restructuring curtails China manufacturing in favor of third-party production, proprietary materials and IP, and U.S. automation; the Baytown solid-state-battery facility remains proposed and depends on funding and its PSSB partnership.
Company facts
Categories
Key statistics
Year to date −18.8% · Average volume (30d) 63.9K
Analysts
No analyst consensus on record.
Earnings
Not reported.
Financial highlights
| 3 quarters | — | — | — | Q4 FY23 | Q2 FY24 | Q4 FY24 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $9.8M | $8.1M | $9.5M | |
| Gross profit | — | — | — | $1.5M | $2.4M | $3.2M | |
| Operating income | — | — | — | $356.5K | $623.3K | $489.1K | |
| Net income | — | — | — | $1.4M | $479.3K | $624.9K | |
| Diluted EPS | — | — | — | $0.40 | $0.14 | $0.18 | |
| Gross margin | — | — | — | 15.1% | 30.2% | 33.6% | |
| Operating margin | — | — | — | 3.6% | 7.7% | 5.2% |
Balance sheet, Dec 31, 2025Cash & short-term investments $552.8K · Total debt $12.7M · Total assets $7.2M · Shareholders' equity −$6.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 2.79M · Float 671.9K · 24.1% free float
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
Not reported.


