J-Star Swings to $1.57 Million First-Half Loss as Revenue Falls

J-Star Holding Co., Ltd. (Nasdaq: YMAT) swung to a $1,567,791 loss after income tax for the six months ended June 30, as operating revenue fell to $6,767,591 from $10,588,835 a year earlier. The company filed unaudited interim results Oct. 23. J-Star manufactures and trades bicycles, sports accessories and carbon-fiber composite products. Gross profit for the period fell to $961,984 from $2,848,110. The company attributed lower sales to eliminating legacy China original equipment manufacturer (OEM) business and pursuing U.S. manufacturing opportunities for commercial and defense unmanned aircraft systems.

Source: TokenPost