Jingbo Technology, Inc. SEC 10-Q Report

Jingbo Technology, Inc., a company specializing in smart parking solutions and winery operations, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant improvements in both financial performance and operational efficiency, driven by increased revenues from parking fees and the introduction of a new revenue stream from winery sales.

Financial Highlights

Net Revenues: Jingbo Technology reported net revenues of $461,630,000, a substantial increase from $308,534,000 in the prior year. This growth was primarily driven by higher revenue from parking fees and the addition of winery sales.

Gross Profit: The company achieved a gross profit of $127,653,000, a significant turnaround from a gross loss of $203,771,000 in the previous year. This improvement was mainly due to a decrease in depreciation and rental expenses.

Operating Loss: Operating loss for the quarter was $387,418,000, showing a marked improvement from an operating loss of $1,174,665,000 in the prior year. This was attributed to reduced selling, marketing, and general administrative expenses.

Net Loss: The net loss for the quarter was $408,871,000, a significant reduction from a net loss of $1,204,624,000 in the previous year. The improvement was due to better gross profit and lower operating expenses.

Loss per Common Share: The loss per common share was $(0.001), compared to $(0.23) in the previous year, indicating a reduction in loss per share due to improved financial performance.

Business Highlights

Revenue Segments: The company generated revenue from two main segments: parking fees and winery sales. Parking fees contributed $356,250, while winery sales, a new income stream, generated $64,653 during the three months ended May 31, 2025.

Geographical Performance: The increase in revenue from parking fees was mainly attributed to improved performance in the Leshan region.

Cost of Revenues: The cost of revenues for parking fees decreased significantly due to reduced depreciation and rental expenses, while the cost of revenues for winery sales was $58,736, reflecting the new operational costs associated with this segment.

Operational Efficiency: The company achieved a gross income of $127,653 for the three months ended May 31, 2025, compared to a gross loss in the previous year, primarily due to decreased depreciation and lease expenses.

Selling and Marketing Expenses: There was a notable reduction in selling and marketing expenses, which decreased from $97,177 to $22,956, largely due to reduced salary and hospitality expenses.

General and Administrative Expenses: These expenses decreased from $792,244 to $496,698, mainly due to a reduction in professional fees.

Research and Development: R&D expenses decreased from $81,473 to $64,336, attributed to lower salary and depreciation expenses.

Future Outlook: Jingbo Technology plans to continue leveraging its smart parking technology and expand its new winery sales segment. The company aims to improve operational efficiency and explore new revenue streams in the coming quarters.

SEC Filing: Jingbo Technology, Inc. [ SVMB ] - 10-Q - Jul. 15, 2025