TAICHUNG CITY, Taiwan, Oct. 20, 2025 — J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), a prominent supplier of cutting-edge carbon fiber and composite solutions for diverse uses including personal sports gear, healthcare items, automotive parts, resin systems, and research and development offerings, commends the Memorandum of Understanding (MoU) inked between Nasdaq and the Ho Chi Minh City leadership. This significant accord aims to collaboratively establish a Vietnam International Financial Center (IFC) in Ho Chi Minh City, a strategic alliance that aligns with J-Star’s long-term regional expansion goals.
Sam Van, CEO of J-Star, who played a crucial role in this strategic partnership and attended the signing event, commented, “We laud the foresight and teamwork exhibited by Nasdaq and Ho Chi Minh City. This pivotal collaboration marks an important moment in fostering economic cooperation among companies in the United States, Vietnam, and adjacent regions. We believe Vietnam’s promising growth trajectory in advanced materials and sustainable technologies makes it an ideal fit for J-Star’s expansion, particularly to bolster the rapidly growing sport of pickleball.”
Vietnam: A Key Market for Carbon Fiber Advancements
J-Star perceives Vietnam as a market with significant potential for its proprietary carbon fiber material science, especially in sectors demanding lightweight, high-strength, and performance-driven composites. Vietnam is currently undergoing rapid modernization of its infrastructure, manufacturing, and clean technology sectors, providing a fertile environment for J-Star’s R&D, production, and partnerships.
The establishment of a robust International Financial Center in Vietnam is anticipated to accelerate capital flows, international investment, and technology transfer — elements that further boost Vietnam’s appeal as a hub for advanced materials, green technologies, and high-value manufacturing.
The Rising Popularity of Pickleball as a Cultural Driver
Vietnam has been experiencing rapidly increasing participation in pickleball, a paddle sport heavily reliant on lightweight, high-strength composite paddles. Local media … that tens of thousands of Vietnamese have taken up the sport in recent years, particularly in major cities like Ho Chi Minh City and Hanoi, with introductory events and court adoption growing swiftly. In fact, Vietnam has been … as a leading country in Asia for pickleball development. In competitive circuits, Vietnam recently hosted its first major … and first … (MB Vietnam Open) tournaments, signaling increasing maturity in the sport’s infrastructure.
As pickleball gains traction across Vietnam, from clubs in Ho Chi Minh City to recreational courts in suburbs, the demand for premium composite paddles is projected to rise.
This trend underscores the domestic need for sophisticated materials such as carbon fiber in sporting goods. J-Star is uniquely positioned to support this growth by supplying advanced paddle materials and next-generation composite designs tailored for both transitioning tennis players and competitive athletes.
Specifics of the Nasdaq — Ho Chi Minh City Memorandum of Understanding
The MoU represents a shared commitment to building Vietnam’s IFC in Ho Chi Minh City, leveraging Nasdaq’s expertise in financial technology, global capital markets, investor networks, and credibility. Under the terms of the agreement, Nasdaq will assist in human resource training, fintech technology transfer, capacity building in capital markets, and facilitating global investment flows into Vietnam. Ho Chi Minh City is preparing legal frameworks and urban planning for the IFC, including designating land in newly developed districts and areas such as Thu Thiem.
J-Star (through its YMA subsidiary) has manufactured racquets for several leading global brands and recently … its first company-owned pickleball paddle, Horizon. Visit … for more information about J-Star and its pickleball products.
Regarding J-Star Holding Co., Ltd.
J-Star (NASDAQ: YMAT) is a holding company with operations conducted via subsidiaries in Taiwan, Hong Kong, and Samoa, with its headquarters in Taiwan. J-Star’s predecessor group was established in 1970, and has accumulated over 50 years of expertise in the material composites industry. J-Star develops and commercializes technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, J-Star is able to apply its proficiency and technology to design and manufacture a wide array of lightweight, high-performance carbon composite products, ranging from key structural components of electric bicycles and sports bicycles, rackets, automobile parts, to healthcare products. Visit j-starholding.com and … to learn more.
Forward-Looking Statements
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the final prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and J-Star specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contact Person:
Matt Chesler, CFA
FNK IR
646-809-2183
Accompanying photographs for this announcement are accessible at
