Jingbo Technology, Inc. reported its financial results for the three months ending May 31, 2025, revealing a significant increase in net revenues to $461,630, up from $308,534 in the same period last year. The company achieved a gross profit of $127,653, a notable recovery from a gross loss of $203,771 in the prior year. This improvement in profitability was attributed to a reduction in costs, particularly in depreciation and rental expenses, which decreased from $512,305 to $333,977.
The company's operating expenses also saw a substantial decline, totaling $515,071 compared to $970,894 in the previous year. This reduction was driven by lower selling and marketing expenses, which fell from $97,177 to $22,956, and a decrease in general and administrative expenses from $792,244 to $496,698. Despite these improvements, Jingbo reported a net loss of $408,871 for the quarter, although this was a significant reduction from the net loss of $1,204,624 reported in the same quarter of 2024.
In terms of operational developments, Jingbo Technology has expanded its revenue streams, with winery sales contributing $64,653 in revenue for the first time. The company continues to focus on its core business of smart parking solutions, which generated $356,250 in revenue during the quarter. The total assets of the company increased to $12,363,418 as of May 31, 2025, compared to $12,222,816 at the end of February 2025, while total liabilities rose to $36,033,811 from $35,231,324.
The company’s cash flow situation showed a net cash increase of $34,363 for the quarter, with cash and cash equivalents ending at $149,120. However, Jingbo's management expressed concerns regarding its ability to continue as a going concern, citing a total deficit of $35,732,174 and the need for additional financing to meet its operational obligations. The company is exploring various financing options, including equity financing and loans from related parties, to support its working capital needs.
Looking ahead, Jingbo Technology aims to implement strategies to grow its business and generate substantial revenue while controlling operating costs. The management remains cautious about the future, emphasizing the importance of securing additional financing to ensure the company's sustainability and operational viability.
About Jingbo Technology, Inc.
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