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. ("Huixin WFOE") and Guangzhou Keqiao Enterprise Management Consulting Co., Ltd. ("Keqiao WFOE"). These WFOEs, in turn, control and receive economic benefits from their respective variable interest entities (VIEs): Zhejiang Jingbo Ecological Technology Co. ("Jingbo VIE") and Guangzhou Keqiao Technology Co., Ltd ("Guangzhou Keqiao VIE"). Jingbo Technology, Inc. holds equity interests in Huixin WFOE and Keqiao WFOE, but does not directly own shares in the VIEs. Instead, the company relies on a series of contractual arrangements, known as the "VIE Agreements," to control and operate the VIEs' businesses and receive their economic benefits. These agreements are structured to give Huixin WFOE and Keqiao WFOE control rights and rights to the assets, property, and revenues of the VIEs, similar to what they would have as principal equity holders. 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. Generally Accepted Accounting Principles (U.S. GAAP). The company is considered the primary beneficiary of the VIEs.