J-Star Holding Co., Ltd.

The company develops and commercializes technology in carbon reinforcement and resin systems, leveraging over 50 years of experience in the material composite industry since its Predecessor Group's establishment in 1970. It designs and manufactures lightweight, high-performance carbon composite products, including key structural parts for electric bicycles and sports bicycles, rackets, automobile parts, and healthcare products. The company is a major global player in the carbon fiber bicycle parts industry and carbon fiber racket parts industry, according to a Frost & Sullivan report. Its products offer weight savings, endurance, and stiffness compared to conventional materials like steel and aluminum. While its technology has broad industry applications, the company primarily focuses on the sporting goods industry, prioritizing the electric bicycle market for commercialization. Many products are supplied directly or indirectly to international sports brand owners. The company is based in Taiwan, with its headquarters, R&D center, and material laboratory located in Taichung, Taiwan. The Taichung R&D center focuses on resin material application, new product development, production process enhancement, structural design, product performance testing, and strength and stiffness enhancement. As of the date of this Annual Report, manufacturing is outsourced to factories in the PRC, with plans to expand outsourced factories to the U.S. and Europe.