Jingbo Technology Reports 36% Revenue Decline and Net Loss for Six Months Ending August 31, 2026

Jingbo Technology, Inc. reported a significant decline in financial performance for the six months ending August 31, 2026, compared to the same period in the previous year. The company generated net revenues of $538.2 million, down from $843.3 million in the prior year, reflecting a decrease of approximately 36%. The cost of revenues also decreased to $379.1 million from $650.8 million, leading to a gross income of $159.1 million, down from $192.5 million. The net loss for the period was $1.13 million, a slight improvement from the $1.20 million loss reported in the previous year.

The company's total assets decreased to $7.45 million as of August 31, 2026, from $7.78 million as of February 28, 2026. This decline was primarily due to a reduction in cash and cash equivalents, which fell to $47.8 million from $84.1 million. Total liabilities increased to $40.47 million, up from $39.06 million, with current liabilities rising significantly to $12.59 million from $11.97 million. The accumulated deficit also widened to $43.11 million from $41.99 million, indicating ongoing financial challenges.

Strategically, Jingbo Technology has been focusing on its smart parking business, which has seen a decline in revenue due to the termination of specific projects, such as the Lishui People’s Hospital project. The company has also reported a decrease in general and administrative expenses, which fell to $1.04 million from $1.24 million, attributed to reduced salary expenses. However, selling and marketing expenses increased to $101.2 million from $55.1 million, reflecting higher costs associated with promotional activities.

Operationally, the company has been working to improve its liquidity and financial stability. As of August 31, 2026, Jingbo Technology had a working capital deficit of $10.36 million. Management has expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional financing to meet working capital requirements. The company is exploring various financing options, including equity financing and loans from related parties, to support its operations.

Looking ahead, Jingbo Technology aims to implement strategies to grow its business and generate substantial revenue while controlling operating costs. The management's outlook remains cautious, as the company navigates its financial challenges and seeks to stabilize its operations in the competitive smart parking market.