Jingbo Technology Inc (NASDAQ: SVMB) is a China-based intelligent parking technology company that develops and operates smart parking systems, cloud platforms, and related hardware infrastructure. Revenue is generated through smart parking project construction, operation of parking facilities, and digital platform services delivered via a VIE structure through its Chinese operating entities. The company operates primarily in Zhejiang province and has parking facility operations at sites including Xiaoshan Airport Remote Parking Lot, Tianjin Xinhua International University, Fuyang People's Hospital, Qilu University Hospital, Shanghai Tesco Supermarket, and Hubei Huanggang Central Hospital, as disclosed in the 10-K filed June 12, 2025. For the fiscal year ended February 28, 2025, combined net revenues were $2,141,654, against cost of revenues of $2,537,852, producing a gross loss of $396,198. Net loss for the same period was approximately $6.0 million before taxes. The current structure reflects a December 9, 2024 acquisition of Xinghe and its subsidiaries, with Hangdu holding approximately 99.0% of issued and outstanding shares as of that date.

Revenue model

Transactional and project-based revenue from smart parking construction contracts and parking facility operations, with online payment processing for parking fees collected through mobile payment integrations including Alipay and WeChat Pay. For FY2025 (ended February 28, 2025), combined net revenues were $2,141,654, entirely attributable to the JINGBO VIE entities.

Products and services

Smart parking cloud platform, license plate recognition cameras (3-megapixel HD), DC brushless road gates, IoT-based parking management systems, mobile parking applications, urban parking project construction and operation. The platform supports online payment, real-time parking space availability, and seamless entry and exit without manual ticketing. The company also operates eight urban parking projects as of the 10-K filed June 12, 2025.

Customers and end markets

Parking lot operators, hospitals, universities, airports, and commercial property operators in China. End-market demand is driven by urban parking scarcity and the low penetration rate of intelligent parking systems in major Chinese cities, cited in the filing as below 10% coverage in Beijing, Shanghai, Guangzhou, and Shenzhen as of the 10-K filed June 12, 2025.

Value-chain role

Technology provider and facility operator. The company sits between city planners and parking lot owners on one side and car owners on the other, supplying hardware, software, and operational management for parking facilities. It does not manufacture vehicles or own urban land; it installs and manages parking technology systems and operates parking lots under contract or ownership arrangements.

Geographic exposure

Mainland China, with primary operations in Zhejiang province and project sites across multiple provinces including Zhejiang, Tianjin, Fujian, Shanghai, and Hubei, as disclosed in the 10-K filed June 12, 2025. The parent company is incorporated in the United States and listed on a U.S. exchange, with Chinese operations held through a VIE contractual structure.

Competitors

ETCP, J-Parking, Xiamen Ketuo Co.

Source: SEC 10-K, filed 2025-06-12

Industry: Services-Prepackaged Software