Jingbo Technology Reports 39% Revenue Decline and Increased Net Loss for Quarter Ended May 31, 2026

Jingbo Technology, Inc. reported a significant decline in financial performance for the three months ended May 31, 2026, compared to the same period in the previous year. The company generated net revenues of $281,962, a decrease of 39% from $461,630 in the prior year. This decline was primarily attributed to the termination of the Lishui People’s Hospital project, which impacted revenue from parking fees. The gross profit also fell to $89,520 from $127,653, reflecting a decrease in both revenue and cost of revenues, which dropped from $333,977 to $192,442.

The company's operating expenses increased substantially, with total operating expenses rising to $687,207 from $515,071. Notably, selling and marketing expenses surged to $65,656 from $22,956, while general and administrative expenses also increased to $570,399 from $496,698. As a result, Jingbo Technology reported a net loss of $617,240 for the quarter, compared to a net loss of $408,871 in the same period last year. The comprehensive loss for the quarter was $1,014,995, up from $661,885 in the previous year.

In terms of operational metrics, the company’s total assets decreased slightly to $7,721,824 from $7,776,342 as of February 28, 2026. Current liabilities increased to $12,315,919 from $11,967,815, contributing to a total liabilities figure of $40,018,375, up from $39,057,898. The company’s accumulated deficit also widened to $42,601,318 from $41,996,913. The cash and cash equivalents at the end of the reporting period stood at $158,979, compared to $135,878 at the beginning of the quarter.

Strategically, Jingbo Technology has been focusing on its smart parking business through its subsidiaries and variable interest entities (VIEs). The company has made efforts to control operating costs and is exploring equity financing and other sources of funding to support its working capital needs. However, management has expressed substantial doubt about the company's ability to continue as a going concern, given the ongoing losses and working capital deficit of $10,124,170 as of May 31, 2026.

Looking ahead, Jingbo Technology aims to implement strategies to grow its business and generate substantial revenue. The management is actively seeking additional financing options and is committed to controlling operating costs to mitigate the risks associated with its financial position. The company’s future performance will depend on its ability to successfully execute these strategies and improve its operational efficiency.