J Star Holding Co Ltd (YMAT) Quarterly and Annual Segment Results by Country and Region - CSIMarket
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J star Holding Co Ltd   (YMAT)

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Description of J Star Holding Co Ltd's Business Segments


The company's reportable operating segments for the years ended December 31, 2025, 2024, and 2023 include Bicycle Frame, Racket, Crank, Service Provision, and Others. Bicycle Frame segment revenues were $4,678,501 (47.1%) in 2025, $14,400,846 (82.0%) in 2024, and $15,219,005 (64.0%) in 2023. Racket segment revenues were $184,663 (1.9%) in 2025, $1,684,837 (9.6%) in 2024, and $7,042,493 (29.6%) in 2023. Crank segment revenues were $1,515,032 (15.3%) in 2025, $686,657 (3.9%) in 2024, and $0 in 2023. Service Provision segment revenues were $3,160,000 (31.8%) in 2025 and $0 in both 2024 and 2023. Others segment revenues were $388,323 (3.9%) in 2025, $791,645 (4.5%) in 2024, and $1,516,454 (6.4%) in 2023. In 2025, the company transitioned from an original equipment manufacturer (OEM) model to a trading business model by outsourcing production to manufacturers in the People's Republic of China, resulting in the recognition of net revenue rather than gross revenue. Revenue decreases were influenced by strategic decisions to move away from low-margin customers, contraction in the global bicycle market, changes in transaction models and sales arrangements, and the disposition of Dongguan YMA and Dongguan Forwell in April 2023. The company anticipates recognizing gross revenue again in 2026 through improvements in accounting support documentation.




Annual Report on J star Holding Co Ltd Divisions, Sales by Country

 
Service provision   Service provision Segment contribution to total sales 31.83 % of total Revenue
Goods or services transferred at point in time   Goods or services transferred at point in time Segment contribution to total sales 68.17 % of total Revenue
Goods or services transferred at point in time Bicycle frame   Goods or services transferred at point in time Bicycle frame Segment contribution to total sales 47.13 % of total Revenue
Goods or services transferred at point in time Racket   Goods or services transferred at point in time Racket Segment contribution to total sales 1.86 % of total Revenue
Goods or services transferred at point in time Crank   Goods or services transferred at point in time Crank Segment contribution to total sales 15.26 % of total Revenue
Goods or services transferred at point in time Other   Goods or services transferred at point in time Other Segment contribution to total sales 3.91 % of total Revenue
Europe   Europe Segment contribution to total sales 82.73 % of total Revenue
Europe Service provision   Europe Service provision Segment contribution to total sales 22.16 % of total Revenue
Europe Goods or services transferred at point in time   Europe Goods or services transferred at point in time Segment contribution to total sales 60.57 % of total Revenue
Europe Goods or services transferred at point in time Bicycle frame   Europe Goods or services transferred at point in time Bicycle frame Segment contribution to total sales 47.13 % of total Revenue
Europe Goods or services transferred at point in time Crank   Europe Goods or services transferred at point in time Crank Segment contribution to total sales 13.44 % of total Revenue
Asia   Asia Segment contribution to total sales 16.14 % of total Revenue
Asia Service provision   Asia Service provision Segment contribution to total sales 9.67 % of total Revenue
Asia Goods or services transferred at point in time   Asia Goods or services transferred at point in time Segment contribution to total sales 6.47 % of total Revenue
Asia Goods or services transferred at point in time Racket   Asia Goods or services transferred at point in time Racket Segment contribution to total sales 1.83 % of total Revenue
Asia Goods or services transferred at point in time Crank   Asia Goods or services transferred at point in time Crank Segment contribution to total sales 1.83 % of total Revenue
Asia Goods or services transferred at point in time Other   Asia Goods or services transferred at point in time Other Segment contribution to total sales 2.82 % of total Revenue
Other areas   Other areas Segment contribution to total sales 1.13 % of total Revenue
Other areas Goods or services transferred at point in time   Other areas Goods or services transferred at point in time Segment contribution to total sales 1.13 % of total Revenue
Other areas Goods or services transferred at point in time Racket   Other areas Goods or services transferred at point in time Racket Segment contribution to total sales 0.03 % of total Revenue
Other areas Goods or services transferred at point in time Other   Other areas Goods or services transferred at point in time Other Segment contribution to total sales 1.1 % of total Revenue
Sales of products   Sales of products Segment contribution to total sales 68.17 % of total Revenue
Service Provision - Related Party   Service Provision - Related Party Segment contribution to total sales 9.67 % of total Revenue
Goods or services transferred over time   Goods or services transferred over time Segment contribution to total sales 31.83 % of total Revenue
YMA DG   YMA DG Segment contribution to total sales 9.67 % of total Revenue
Bicycle frame   Bicycle frame Segment contribution to total sales 47.13 % of total Revenue
Racket   Racket Segment contribution to total sales 1.86 % of total Revenue
Crank   Crank Segment contribution to total sales 15.26 % of total Revenue
Other   Other Segment contribution to total sales 3.91 % of total Revenue
Taiwan Country   Taiwan Country Segment contribution to total sales 1.08 % of total Revenue
China Country   China Country Segment contribution to total sales 1.83 % of total Revenue
Other Country   Other Country Segment contribution to total sales 97.1 % of total Revenue


Twelve months ended 2025
YMAT s Annual Revenue by Geography and Business Segments Sales
(in millions $)
%
(of total Sales)
Service provision 3.16 31.83 %
Goods or services transferred at point in time 6.77 68.17 %
Goods or services transferred at point in time Bicycle frame 4.68 47.13 %
Goods or services transferred at point in time Racket 0.18 1.86 %
Goods or services transferred at point in time Crank 1.52 15.26 %
Goods or services transferred at point in time Other 0.39 3.91 %
Europe 8.21 82.73 %
Europe Service provision 2.20 22.16 %
Europe Goods or services transferred at point in time 6.01 60.57 %
Europe Goods or services transferred at point in time Bicycle frame 4.68 47.13 %
Europe Goods or services transferred at point in time Crank 1.33 13.44 %
Asia 1.60 16.14 %
Asia Service provision 0.96 9.67 %
Asia Goods or services transferred at point in time 0.64 6.47 %
Asia Goods or services transferred at point in time Racket 0.18 1.83 %
Asia Goods or services transferred at point in time Crank 0.18 1.83 %
Asia Goods or services transferred at point in time Other 0.28 2.82 %
Other areas 0.11 1.13 %
Other areas Goods or services transferred at point in time 0.11 1.13 %
Other areas Goods or services transferred at point in time Racket 0.00 0.03 %
Other areas Goods or services transferred at point in time Other 0.11 1.1 %
Sales of products 6.77 68.17 %
Service Provision - Related Party 0.96 9.67 %
Goods or services transferred over time 3.16 31.83 %
YMA DG 0.96 9.67 %
Bicycle frame 4.68 47.13 %
Racket 0.18 1.86 %
Crank 1.52 15.26 %
Other 0.39 3.91 %
Taiwan Country 0.11 1.08 %
China Country 0.18 1.83 %
Other Country 9.64 97.1 %
Total 9.93 100 %


Twelve months ended 2025
YMAT s Annual Income by Country and Business Segments Income
(in millions $)
%
(Profit Margin)

Twelve months ended 2025
Annual Revenue and Income Growth by Country and Business Segments % Y/Y Sales Growth % Y/Y Income Growth
Goods or services transferred at point in time -61.48 % -
Goods or services transferred at point in time Bicycle frame -67.51 % -
Goods or services transferred at point in time Racket -89.04 % -
Goods or services transferred at point in time Crank 120.64 % -
Europe Goods or services transferred at point in time -59.51 % -
Europe Goods or services transferred at point in time Bicycle frame -64.62 % -
Europe Goods or services transferred at point in time Crank 94.25 % -
Other areas Goods or services transferred at point in time -94.46 % -
Other areas Goods or services transferred at point in time Racket -94.93 % -
Sales of products -61.48 % -
YMA DG 81.25 % -
Bicycle frame -67.51 % -
Racket -89.04 % -
Crank 120.64 % -
Other -50.95 % -
Taiwan Country 22.08 % -
Other Country -44.85 % -
Goods or services transferred at point in time Others - -
Europe Goods or services transferred at point in time Racket - -
Other areas Goods or services transferred at point in time Bicycle frame - -
Other areas Goods or services transferred at point in time Others - -
UNITED STATES Goods or services transferred at point in time - -
UNITED STATES Goods or services transferred at point in time Bicycle frame - -
UNITED STATES Goods or services transferred at point in time Racket - -



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