Jingbo Technology, Inc.

Jingbo Technology, Inc. is a Nevada holding company that operates in mainland China. The company conducts its business through two wholly foreign-owned enterprises (WFOEs), Huixin Zhiying (Hangzhou) Technology Co. and Guangzhou Keqiao Enterprise Management Consulting Co., Ltd., and their respective variable interest entities (VIEs), Zhejiang Jingbo Ecological Technology Co. and Guangzhou Keqiao Technology Co., Ltd. While Jingbo Technology, Inc. has equity interests in the WFOEs, it does not own any shares in the VIEs. Instead, the company controls and receives the economic benefits from the VIEs' business operations through a series of contractual arrangements, known as the VIE Agreements. These agreements are structured to provide the WFOEs with control rights and rights to the assets, property, and revenues of the VIEs, similar to those of an equity holder. Due to these contractual arrangements, the assets, liabilities, and operational results of the VIEs are consolidated into Jingbo Technology, Inc.'s financial statements in accordance with U.S. GAAP. The company is considered the primary beneficiary of the VIEs.