J-Star shareholders approve dual class share structure

J-Star Holding Co., Ltd. (NASDAQ: YMAT) announced that shareholders approved a dual class share structure at the company's general meeting held December 9, 2025.

The Taiwan-based carbon fiber and composite solutions provider received shareholder approval to re-classify existing ordinary shares into Class A and Class B ordinary shares. Under the approved structure, 17,200,387 issued ordinary shares will become Class A ordinary shares, while new Class B ordinary shares will carry ten votes per share.

The company will increase its authorized share capital from $17.5 million to $65 million following the reorganization. The new structure will accommodate 30 million Class A ordinary shares and 100 million Class B ordinary shares, each with a par value of $0.50.

As part of the restructuring, J-Star will repurchase 4,888,092 Class A ordinary shares from New Moon Corporation and 1,209,091 Class A ordinary shares from Jing-Bin Chiang. The company will then issue an equivalent number of Class B ordinary shares to these shareholders.

J-Star plans to file its amended articles of association with the Cayman Islands registrar on December 10, 2025. The re-classified Class A ordinary shares are expected to begin trading on Nasdaq on or around December 11, 2025.

The company operates through subsidiaries in Taiwan, Hong Kong, and Samoa, manufacturing carbon composite products for electric bicycles, sports equipment, automobile parts, and healthcare products. J-Star's operations trace back to 1970.

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