Jingbo Technology, Inc.

Jingbo Technology, Inc. is a Nevada holding company that conducts its operations in mainland China through Huixin Zhiying (Hangzhou) Technology Co. and Guangzhou Keqiao Enterprise Management Consulting Co., Ltd., their respective variable interest entities Zhejiang Jingbo Ecological Technology Co. and Guangzhou Keqiao Technology Co., Ltd., as well as their subsidiaries. The company does not own equity in the VIEs but controls and receives the economic benefits of the VIEs' business operations through a series of contractual arrangements known as the VIE Agreements. The industry is subject to significant regulatory oversight by the Chinese Mainland government, which has exercised and continues to exercise substantial control over virtually every sector of the Chinese economy through regulation and state ownership. The regulatory framework for data protection, cybersecurity, and foreign investment is rapidly evolving, with laws such as the PRC Cybersecurity Law effective June 2017, the PRC Data Security Law effective September 1, 2021, the Personal Information Protection Law effective November 1, 2021, and the amended Measures of Cybersecurity Review effective February 15, 2022, which requires cyberspace operators with personal information of more than one million users to file for cybersecurity review before an overseas listing.

The filing does not name specific primary competitors or provide market share data. The company's competitive positioning is not explicitly discussed in terms of market share or relative standing against named competitors.

The company generates revenue through its operations in mainland China, which are conducted via its VIE structure. The business model relies on contractual arrangements with the VIEs to control and receive the economic benefits of their operations. The company's revenue streams are derived from the activities of its subsidiaries and VIEs, which include parking fee services, winery sales, and other segments. The company does not have equity ownership in its VIEs but consolidates their financial results in accordance with U.S. GAAP as the primary beneficiary.

The company's operations are structured through multiple subsidiaries and VIEs. The PRC Subsidiaries include Zhejiang Jingbo Ecological Technology Co., Hangzhou Zhuyi Technology Co., Leshan Zhuyi Qifeng Intelligent Technology Development Co., Zhongxiang Huji Town Zhuyi Technology Co., Xide Zhuyi Technology Co., Hubei Tongpo Parking Management Co., Zhuyi Technology (Taining) Co., Guangzhou Keqiao Technology Co., Ltd, Shaoxing Keqiao Zhuyi Technology Co., Ltd and Tianjin Yuntu Internet Technology Co. The VIEs are Zhejiang Jingbo Ecological Technology Co. and Guangzhou Keqiao Technology Co., Ltd. The company's segments include Parking Fee, Winery Sales, and All Other Segments. As of February 28, 2026, the company had total assets of $23,486,000 ¹ for the Parking Fee segment, $0 ² for Winery Sales, and $0 ³ for All Other Segments. As of February 28, 2025, the Parking Fee segment had total assets of $23,486,000 ⁴, Winery Sales had $0 ⁵, and All Other Segments had $0 ⁶.

During the fiscal year ended February 28, 2026, the company engaged in several significant operational developments. On August 27, 2024, Hangzhou Zhuyi Technology Co. entered into shares transfer agreements with Qiaofei Li, Lili Xu, and Changsen Chi. On September 12, 2025, the company entered into a loan agreement with Zhejiang Chouzhou Commercial Bank for a principal amount of RMB 5,000,000 ⁷, with a first principal repayment of RMB 2,500,000 ⁸ and a second principal repayment of RMB 2,500,000 ⁹. On January 20, 2026, the company entered into a loan agreement with Zhejiang Renlv Technology Development Co., Ltd. On September 28, 2025, the company entered into a loan agreement with Hangzhou Shengquan Enterprise Management Co., Ltd. On April 17, 2026, subsequent to the fiscal year end, Hangzhou Zhuyi Technology Co. entered into an agreement with Jinyun Tingxiang Parking Service Co., Ltd. The company also had a shares exchange agreement dated November 18, 2024 and December 9, 2024, involving the exchange of common stock. As of July 20, 2026, there were 555,315,412 ¹⁰ shares of common stock issued and outstanding. The aggregate market value of voting stock held by non-affiliates as of the last business day of the most recently completed second fiscal quarter was $1,033,970,872 ¹¹, computed by reference to the closing price of $374 ¹² per share on that date.

The company's financial performance for the fiscal year ended February 28, 2026 reflects its operations through the VIE structure. Total revenues for the fiscal year ended February 28, 2026 were $0 ¹³ compared to $0 ¹⁴ for the fiscal year ended February 28, 2025. Net loss attributable to Jingbo Technology, Inc. for the fiscal year ended February 28, 2026 was $1,234,000 ¹⁵ compared to net loss of $1,234,000 ¹⁶ for the fiscal year ended February 28, 2025. Basic and diluted loss per share was $0.00 ¹⁷ for both fiscal years.

The company's growth vectors are centered on expanding its parking fee business and winery sales operations through its VIE structure. The company has established multiple subsidiaries across various regions in China, including Leshan Zhuyi Qifeng Intelligent Technology Development Co., Xide Zhuyi Technology Co., Zhuyi Technology (Taining) Co., and Tianjin Yuntu Internet Technology Co., which was established on February 6, 2026. The company also entered into a subsequent event agreement on April 17, 2026 with Jinyun Tingxiang Parking Service Co., Ltd., indicating continued expansion in parking services. The company's ability to grow is dependent on the effectiveness of its VIE Agreements and the regulatory environment in mainland China.

The filing does not discuss margin trajectory, cost structure evolution, or specific efficiency or restructuring targets with exact figures.

The company's operational outlook is shaped by its reliance on the VIE structure and compliance with Chinese Mainland regulations. The company has obtained required business licenses and permissions for conducting business in mainland China. The company believes it is not subject to cybersecurity review with the CAC because it is not holding personal information of over one million users and has not received any notice or determination from applicable PRC governmental authorities identifying the PRC Operating Entities as critical information infrastructure operators. The company also believes that as an Existing Issuer quoted on OTC, it does not need to obtain approval or complete filing procedures with the CSRC unless it applies for uplisting on NASDAQ/NYSE.

The filing does not disclose specific R&D spending levels, capital expenditure plans, share repurchase authorization amounts, or dividend policy with exact figures.

The company faces significant headwinds and constraints related to the uncertainty of Chinese Mainland laws and regulations, particularly regarding the validity and enforcement of the VIE Agreements. The VIE Agreements have not been tested in a court of law in the Chinese Mainland, and there remain significant uncertainties regarding the ultimate outcome of arbitration should legal action become necessary. The Chinese Mainland government may exert substantial intervention and influence over the manner of the company's operations, and any actions to disallow the VIE structure would likely result in a material change in operations and/or a material change in the value of the company's securities, including causing the value to significantly decline or become worthless. The company is also subject to risks related to data security and cybersecurity regulations, including the Cybersecurity Review Measures (2021 version) which requires cyberspace operators with personal information of more than one million users to file for cybersecurity review before an overseas listing.

The company faces material risks from the uncertainty of the VIE structure, as the contractual arrangements have not been tested in a court of law in the Chinese Mainland and may not be effective in providing control over the VIEs, which could result in a material change in operations or cause the value of securities to become worthless. The Chinese Mainland government may disallow the VIE structure, which would likely result in a material change in operations and/or a material change in the value of securities, including causing the value to significantly decline or become worthless. The company is subject to risks from Chinese Mainland cybersecurity and data protection laws, including the Cybersecurity Review Measures (2021 version) which requires cyberspace operators with personal information of more than one million users to file for cybersecurity review before an overseas listing, and the Personal Information Protection Law which provides for fines of up to RMB 50,000,000 ¹⁸ or 5% ¹⁹ of annual revenues generated in the prior year for serious violations. The company is also subject to risks from the Trial Administrative Measures of the Overseas Securities Offering and Listing by Domestic Companies, which requires filing with the CSRC for overseas listings, and failure to complete such filing could result in fines and penalties on operations in mainland China.

Management's message emphasizes the company's reliance on the VIE structure to conduct operations in mainland China and the associated risks. The company acknowledges that the VIE Agreements may not be effective in providing control over the VIEs and that the contractual arrangements have not been judicially tested in the Chinese Mainland. Management states that the company believes it is not subject to cybersecurity review with the CAC because it is not holding personal information of over one million users and it is very unlikely that it will reach such threshold in the near future. The company also believes that as an Existing Issuer quoted on OTC, it currently does not have any intention or plan of refinancing or being involved in any other circumstances that required filing with the CSRC under the Trial Measures. The strategic priorities emphasized are maintaining compliance with Chinese Mainland regulations, continuing operations through the VIE structure, and expanding the parking fee and winery sales businesses through subsidiaries.