Tue, Apr 8, 9:02 PM (19 days ago)
**Jingbo Technology, Inc. (JT)** **Ticker:** JT **Financial Performance (in thousands):** - **Revenue (2024):** $1,583,637 - **Revenue (2023):** $3,426,492 - **Net Loss (2024):** $5,482,077 - **Net Loss (2023):** $7,107,559 - **Operating Expenses (2024):** $4,570,356 - **Operating Expenses (2023):** $5,896,672 - **Earnings per Share (2024):** -$1.00 - **Earnings per Share (2023):** -$6.42 **Strategic Overview:** Jingbo Technology, Inc. focuses on smart parking solutions, including software, hardware, and platform operations. The company aims to integrate resources, build a platform ecosystem, and achieve multi-scenario satisfaction of user needs and transactions. The core goal is to become an ecological operator of a smart parking digital platform. **Future Outlook:** The company plans to expand its global market service system, focusing on the Asian and European markets in the next three years. The strategic goals include building a smart digital parking cloud platform, forming a harmonious digital ecosystem around smart parking, constructing intelligent cities across the globe, and creating a brighter future for smart living. **Risk Factors:** - **Regulatory Risks:** The company faces significant regulatory risks due to the complex regulatory regime in China, including data security, foreign investment restrictions, and cybersecurity reviews. - **Financial Risks:** The company has incurred substantial losses and has negative working capital, raising substantial doubt about its ability to continue as a going concern. - **Operational Risks:** The company relies on dividends and other distributions on equity paid by its principal operating subsidiaries to fund offshore cash and financing requirements. **Financial Condition:** As of February 29, 2024, the company had total assets of $12,866,660, total liabilities of $31,568,840, and a total deficit of $18,702,180. The company's continuation as a going concern is dependent on long-term loans and additional equity or alternative financing. **Market Position Changes:** The company has ceased to fall under the definition of a shell company and has a wholly-owned subsidiary, Intellegence Parking Group Limited. The company has also conducted a reverse stock split, decreasing the issued and outstanding number of shares to 5,315,412. **Summary:** Jingbo Technology, Inc. is a company focused on smart parking solutions, facing significant regulatory, financial, and operational risks. The company aims to expand its global market service system and achieve its strategic goals, but its financial condition and ability to continue as a going concern are uncertain.