2023 Q4 Form 10-K Financial Statement

#000149315223034950 Filed on October 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023
Revenue $386.9K $1.180M $3.723M
YoY Change
Cost Of Revenue $523.3K $1.128M $4.132M
YoY Change -74.9%
Gross Profit -$136.4K $52.40K -$409.4K
YoY Change -77.14%
Gross Profit Margin -35.26% 4.44% -11.0%
Selling, General & Admin $1.103M $2.734M $4.938M
YoY Change 4362.99% 28112.59% 12244.74%
% of Gross Profit 5217.18%
Research & Development $100.3K $69.20K $396.8K
YoY Change -62.54% -45.16%
% of Gross Profit 132.06%
Depreciation & Amortization $190.5K $167.6K $887.9K
YoY Change -31.08%
% of Gross Profit 319.85%
Operating Expenses $1.080M $2.827M $6.281M
YoY Change 4268.96% 29076.47% 14499.03%
Operating Profit -$1.216M -$2.775M -$6.691M
YoY Change 95.74% 28535.71% 15450.53%
Interest Expense $9.725K $200.00 $400.00
YoY Change 5978.13%
% of Operating Profit
Other Income/Expense, Net $75.10K -$18.50K -$92.53K
YoY Change -197.1% -275.82%
Pretax Income -$1.141M -$2.793M -$6.783M
YoY Change 4517.03% 28725.59% -15865.58%
Income Tax $200.00 $223.00
% Of Pretax Income
Net Earnings -$1.121M -$2.466M -$6.395M
YoY Change 4433.22% 25350.98% 14764.01%
Net Earnings / Revenue -289.66% -208.98% -171.78%
Basic Earnings Per Share $0.00 $0.00 $0.01
Diluted Earnings Per Share $0.00 -$1.06 $0.01
COMMON SHARES
Basic Shares Outstanding 1.062B shares 1.062B shares 467.4M shares
Diluted Shares Outstanding 1.062B shares 1.062B shares 467.4M shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $458.0K $850.0K $850.0K
YoY Change
Cash & Equivalents $61.38K $483.7K $484.0K
Short-Term Investments $397.0K $366.0K $366.0K
Other Short-Term Assets $1.588M $1.322M $1.322M
YoY Change 3304900.0%
Inventory $206.8K $177.0K $177.0K
Prepaid Expenses
Receivables $449.4K $409.4K $409.0K
Other Receivables $705.0K $359.0K $359.0K
Total Short-Term Assets $3.408M $3.118M $3.118M
YoY Change 8908460.0%
LONG-TERM ASSETS
Property, Plant & Equipment $6.230M $6.582M $6.859M
YoY Change -5.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.646M $2.884M $2.884M
YoY Change -18.82%
Total Long-Term Assets $9.013M $9.759M $9.759M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.408M $3.118M $3.118M
Total Long-Term Assets $9.013M $9.759M $9.759M
Total Assets $12.42M $12.88M $12.88M
YoY Change 36790288.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.7K $775.3K $775.0K
YoY Change 9591.16% 7650.0%
Accrued Expenses $673.0K $536.0K $536.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.401M $345.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.768M $3.902M $3.902M
YoY Change 20855.74% 48670.19% 38920.0%
LONG-TERM LIABILITIES
Long-Term Debt $29.12M $32.74M $32.74M
YoY Change
Other Long-Term Liabilities $26.00K $122.0K $122.0K
YoY Change
Total Long-Term Liabilities $29.14M $32.86M $32.86M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.768M $3.902M $3.902M
Total Long-Term Liabilities $29.14M $32.86M $32.86M
Total Liabilities $38.91M $36.76M $35.75M
YoY Change 83384.94% 459453.51% 357380.0%
SHAREHOLDERS EQUITY
Retained Earnings -$35.36M -$32.75M
YoY Change 11718.06% 12467.67%
Common Stock $9.536M $9.536M
YoY Change 3674.72% 3674.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$25.42M -$22.87M -$22.87M
YoY Change
Total Liabilities & Shareholders Equity $12.42M $12.88M $12.88M
YoY Change 36790288.57%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$1.121M -$2.466M -$6.395M
YoY Change 4433.22% 25350.98% 14764.01%
Depreciation, Depletion And Amortization $190.5K $167.6K $887.9K
YoY Change -31.08%
Cash From Operating Activities $45.20K $129.9K $102.1K
YoY Change -258.37% -2399.12% -317.02%
INVESTING ACTIVITIES
Capital Expenditures $98.40K $2.454M $3.816M
YoY Change -71.63%
Acquisitions
YoY Change
Other Investing Activities -$37.30K $2.433M $2.201M
YoY Change -190.1%
Cash From Investing Activities -$135.7K -$21.00K -$1.615M
YoY Change -55.55% -1063.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -131.7K 64.80K $1.913M
YoY Change -561.46% 1088.99% 4036.69%
NET CHANGE
Cash From Operating Activities 45.20K 129.9K $102.1K
Cash From Investing Activities -135.7K -21.00K -$1.615M
Cash From Financing Activities -131.7K 64.80K $1.913M
Net Change In Cash -222.2K 173.7K $385.2K
YoY Change -86950.0% -47362.7%
FREE CASH FLOW
Cash From Operating Activities $45.20K $129.9K $102.1K
Capital Expenditures $98.40K $2.454M $3.816M
Free Cash Flow -$53.20K -$2.324M -$3.714M
YoY Change -85.83%

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CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1492926 usd
CY2023 SVMB Depreciation Of Rightofuse Assets
DepreciationOfRightofuseAssets
626416 usd
CY2022 SVMB Depreciation Of Rightofuse Assets
DepreciationOfRightofuseAssets
688470 usd
CY2023 SVMB Bad Debt Expense
BadDebtExpense
922434 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
972009 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
233293 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
110368 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21616 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3992099 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5213847 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-423013 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-480485 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1071268 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7392431 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
102130 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17094189 usd
CY2022 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2067575 usd
CY2023 SVMB Repaid For Rightofuse Assets
RepaidForRightofuseAssets
647763 usd
CY2022 SVMB Repaid For Rightofuse Assets
RepaidForRightofuseAssets
285067 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2848949 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
938482 usd
CY2023 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3801885 usd
CY2022 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2554572 usd
CY2022 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
20000 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
13814 usd
CY2022 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
21192 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1614513 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
167610 usd
CY2023 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
697201 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-95159 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
186596 usd
CY2023 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
1814559 usd
CY2022 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
10166910 usd
CY2023 us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-598748 usd
CY2022 SVMB Proceeds From Paid In Capital
ProceedsFromPaidInCapital
7019564 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1913012 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16904719 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-15438 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-5256 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
385191 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-27116 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
108787 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135903 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
493978 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
108787 usd
CY2023 SVMB Interest Received
InterestReceived
440 usd
CY2022 SVMB Interest Received
InterestReceived
2641 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_z4simettMyhc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_824_zqCbQYosH2m3">Organization and Principal Activities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 6, 2015, SavMobi Technology Inc. (“the Company”), was incorporated in the State of Nevada and established a fiscal year end of May 31. Initially the business platform was in providing application software to a global vendor platform to connect people to businesses and provide a new shopping experience.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 18, 2017, Lakwinder Singh Sidhu, the Company’s former Director and CEO, completed a transaction with New Reap Global Ltd., by which New Reap Global Ltd. acquired <span id="xdx_90F_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20170517__20170518__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DirectorAndCEOMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_z9sAo2cjnewj" title="Acquisition of shares">32,500,000</span> shares of common stock, representing <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20170518__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DirectorAndCEOMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zdKVvoohmuSh" title="Ownership interest rate">68.4</span>% ownership of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 19, 2018 New Reap Global transferred <span id="xdx_900_ecustom--RestrictedSharesTransferred_c20180318__20180319__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EngWahKungMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zzKwpIwKYoBa" title="Restricted shares transferred">250,000</span> restricted shares to Eng Wah Kung.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 10, 2018 and May 30, 2018, <span id="xdx_901_ecustom--RestrictedSharesTransferred_c20180529__20180530__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ArdenWealthAndTrustMember_zBSGaK1khKv1" title="Restricted shares transferred"><span id="xdx_902_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ArdenWealthAndTrustMember_zymFxZmxLdmf" title="Restricted shares transferred">16,959,684</span></span> were transferred to Arden Wealth and Trust. <span id="xdx_90C_ecustom--RestrictedSharesTransferred_c20180529__20180530__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HongLingShangMember_zidGTzImGIu9" title="Restricted shares transferred"><span id="xdx_904_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HongLingShangMember_zQe0Keclve5" title="Restricted shares transferred">2,000,000</span></span> shares are free trading from HongLing Shang, <span id="xdx_908_ecustom--RestrictedSharesTransferred_c20180529__20180530__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zsiZ4amM3UK1" title="Restricted shares transferred"><span id="xdx_906_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zAoCzBygMRvj" title="Restricted shares transferred">559,684</span></span> restricted shares from New Reap Global, LTD and <span id="xdx_902_ecustom--RestrictedSharesTransferred_c20180529__20180530__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JianlongWuMember_zCRK1OtZCDx6" title="Restricted shares transferred"><span id="xdx_90D_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JianlongWuMember_ztxaIWQw5gyc" title="Restricted shares transferred">2,400,000</span></span> each from Xuedong Zhang, Jingmei Jiang, Qianxian, Yulan Qi, Baoxin Song, Jianlong Wu. On June 15, 2018 New Reap Global transferred <span id="xdx_902_ecustom--RestrictedSharesTransferred_c20180614__20180615__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EMRDGlobalHoldingsMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zm9RLQsQkmXk" title="Restricted shares transferred">690,316</span> restricted shares to EMRD Global Holdings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 26, 2018 New Reap Global transferred <span id="xdx_90A_ecustom--RestrictedSharesTransferred_c20180625__20180626__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FortressAdvisorsLLCMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zvGs3uYvSRQi" title="Restricted shares transferred">3,000,000</span> restricted shares to FORTRESS ADVISORS, LLC and <span id="xdx_90B_ecustom--RestrictedSharesTransferred_c20180625__20180626__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BaywallIncMember__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zTGu0QSTuZte" title="Restricted shares transferred">3,000,000</span> to Baywall Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--StockPurchaseAgreementsDescription_c20201109__20201110__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementsMember_zYef8SmzeYC4" title="Stock purchase agreements description">On November 10, 2020, ten (10) shareholders of the Company, including affiliates Arden Wealth &amp; Trust (Switzerland) AG and New Reap Global Limited, entered into stock purchase agreements with an aggregate of nineteen (19) non-U.S. accredited investors to sell an aggregate of <span id="xdx_903_eus-gaap--TreasuryStockCommonShares_iI_c20201110__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementsMember_z28vl7M2gMZ5" title="Purchase of common stock">42,440,316</span> shares of common stock of the “Company, which represents approximately <span id="xdx_903_ecustom--CommonStockIssuedAndOutstandingPercentage_iI_pid_dp_uPure_c20201110__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementsMember_zIYijE0OpEu" title="Common stock issued and outstanding percentage">68.6</span>% of the issued and outstanding shares of common stock of the Company</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 8, 2022, three (3) shareholders of the Company, including Ma Hongyu, Ye Caiyun, and Li Wenzhe entered into stock purchase agreements with an aggregate of five (5) non-U.S. accredited investors (the “Purchase Agreements”) to sell an aggregate of <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220607__20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember_zQ7773X5o0yd" title="Sale of common stock shares">25,095,788</span> shares of common stock of the Company, which represents approximately <span id="xdx_90C_ecustom--CommonStockIssuedAndOutstandingPercentage_iI_pid_dp_uPure_c20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember_zu0ahpCUf27l" title="Common stock issued and outstanding, percentage">40.54</span>% of the issued and outstanding shares of common stock of the Company, for consideration of $<span id="xdx_90E_eus-gaap--CommonStockValue_iI_c20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember_zXAfkS98jiqk" title="Common stock value">250,958</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Purchase Agreements were fully executed and delivered on June 8, 2022. Zhang Yiping and Chen Xinxin acquired approximately <span id="xdx_90C_ecustom--PercentageAcquiredIssuedAndOutstandingOnCommonStock_pid_dp_uPure_c20220607__20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZhangYipingMember_z1fwLnEJ4XW6" title="Acquired issued and outstanding, percentage">24.54</span>% and <span id="xdx_90E_ecustom--PercentageAcquiredIssuedAndOutstandingOnCommonStock_pid_dp_uPure_c20220607__20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChenXinxinMember_zAGd4kxSlWG3" title="Acquired issued and outstanding, percentage">6.46</span>% of the issued and outstanding shares of the Company, respectively, and the remaining purchasers each acquired less than <span id="xdx_909_ecustom--PercentageAcquiredIssuedAndOutstandingOnCommonStock_pid_dp_uPure_c20220607__20220608__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__srt--RangeAxis__srt--MinimumMember_zwhSGiUiKbA3" title="Acquired issued and outstanding, percentage">4.99</span>% of the issued and outstanding shares.After the change of ownership, the Company’s current principal offices is located in Building B8, China Zhigu, Yinhu Street, Fuyang District, Hangzhou, Zhejiang, China.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfShareAcquiredTableTextBlock_zDhVltjmh445" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8ba_zcfieaxedmy5">Schedule of Share Acquired by Purchases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Purchasers</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_48C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_zEhmVZSXQ155" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares acquired</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_41A_20220607__20220608__srt--TitleOfIndividualAxis__custom--ZhangYipingMember_ze4AjkIAul5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Zhang Yiping</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">15,189,500</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangYipingMember_zS8nO6sxZc0c" style="width: 14%; text-align: right" title="Ownership percentage of shares acquired"><span style="font-family: Times New Roman, Times, Serif">24.54</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_41F_20220607__20220608__srt--TitleOfIndividualAxis__custom--ChenXinxinMember_zOmpDgb4cFzj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Chen Xinxin</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,000,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ChenXinxinMember_z6D5B6pqGdej" style="text-align: right" title="Ownership percentage of shares acquired"><span style="font-family: Times New Roman, Times, Serif">6.46</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_419_20220607__20220608__srt--TitleOfIndividualAxis__custom--WangYanfangMember_zasDkVSJkiui" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Wang Yanfang</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,000,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WangYanfangMember_zQDnyOhLqFUg" style="text-align: right" title="Ownership percentage of shares acquired"><span style="font-family: Times New Roman, Times, Serif">3.23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_41F_20220607__20220608__srt--TitleOfIndividualAxis__custom--LiuChenMember_zQ8UqFaAJXNl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Liu Chen</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,000,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--LiuChenMember_zOT3Tg3D94Hl" style="text-align: right" title="Ownership percentage of shares acquired"><span style="font-family: Times New Roman, Times, Serif">3.23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Liu Ying</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220607__20220608__srt--TitleOfIndividualAxis__custom--LiuYingMember_zBEWpO2CNrLi" style="text-align: right" title="Shares acquired"><span style="font-family: Times New Roman, Times, Serif">1,906,288</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--LiuYingMember_zFUov5X7slxf" style="text-align: right" title="Ownership percentage of shares acquired"><span style="font-family: Times New Roman, Times, Serif">3.08</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p id="xdx_8AF_zCNE1EQwDCFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 15, 2022, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Intellegence Parking Group Limited (“Intellegence”), a Cayman Island company formed on June 29, 2022, Chen Xinxin (“Xinxin”), the officer and director, and control shareholder of Intelligence and the shareholders of Intelligence (the “Shareholders”). Under the Share Exchange Agreement, One Hundred Percent (<span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221215__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SavmobTechnologyIncMember_zkSN4fX31BF" title="Equity method investment, ownership percentage">100</span>%) of the ownership interest of Intellegence was exchanged for <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220628__20220629__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SavmobTechnologyIncMember_zaENEqQ2sZBc" title="Number of shares issued">1,000,000,000</span> shares of common stock of SVMB issued to the Shareholders, in accordance with the Share Exchange Agreement. The former stockholders of Intellegence will acquire a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby Intellegence is the accounting acquirer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Immediately after completion of such share exchange, SVMB will hold a total of <span id="xdx_90A_eus-gaap--CommonStockSharesIssued_iI_c20230531__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_zebH3Tj16fe1" title="Common stock, shares, issued"><span id="xdx_901_eus-gaap--CommonStockSharesOutstanding_iI_c20230531__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_zEMAlHRyq4eb" title="Common stock, shares, outstanding">200,000,000</span></span> issued and outstanding shares of Intellegence. Zhang Guowei is the sole director of Intellegence Parking Group Limited.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consequently, SVMB has ceased to fall under the definition of shell company as define in Rule 12b-2 under the Exchange Act of 1934, as amended (the “Exchange Act”) and Intellegence is now a wholly owned subsidiary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking Group Limited (“Intellegence Parking”) was incorporated on June 29, 2022 under the laws of Cayman Islands. It is controlled by Guowei Zhang, Xiujuan Chen, Hongwei Li and Chuchu Zhang. Intellegence Parking is an investment holding company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking (Hong Kong) Limited (“Intellegence HK”) was incorporated on July 20, 2022 under the laws of Hong Kong SAR. Intelligence HK is a wholly subsidiary of Intellegence Parking since incorporation and it is an investment holding company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huixin Zhiying (Hangzhou) Technology Co. (“Huixin”) was incorporated on October 24, 2022 under the laws of PRC. It is a wholly owned subsidiary of Intellegence HK since incorporation and it is an investment holding company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Business Operation Agreement entered into among Huixin WFOE and Zhejiang Jingbo Ecological Technology Co. between November 15 and 11, 2022, the Company obtained control over these PRC domestic companies by entering into a series of contractual arrangements with these PRC domestic companies and their respective Nominee Shareholders. These contractual agreements include power of attorney, exclusive option agreement, exclusive business cooperation agreements, equity pledge agreements, and other operating agreements. These contractual agreements can be extended at the relevant PRC subsidiaries’ options prior to the expiration date. As a result, the Company maintains the ability to control these PRC domestic companies, is entitled to substantially all of the economic benefits from these PRC domestic companies and is obligated to absorb all expected losses of these PRC domestic companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company consolidated its financial statements due to common control.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s major subsidiaries, VIEs and VIE’s subsidiaries are described as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfEconomicBenefitsOwnershipPercentage_z8Tcr1z0Kbtj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_z9vW6fyLJ0Bj" style="display: none">Schedule of Economic Benefits Ownership Percentage</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Companies</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Country/Place and date of incorporation/establishment</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of direct or indirect economic benefits ownership</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 31,</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major Subsidiaries</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 42%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking Group Limited</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman <span id="xdx_90F_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingGroupLimitedMember_zVOQNRxS0rp2" title="Entity incorporation, date of incorporation">June 29, 2022</span></span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zTbycstYoPr2" style="width: 14%; text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zigpm42LYFdb" style="width: 14%; text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking (Hong Kong) Limited</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong Kong <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingHongKongLimitedMember_z00BYRwkAsT8" title="Entity incorporation, date of incorporation">July 20, 2022</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zWbfjUrQdE0c" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zKFRbQXuLc52" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huixin Zhiying (Hangzhou) Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--HuixinZhiyingTechnologyMember_zUgrBxWj8Dwi" title="Entity incorporation, date of incorporation">October 24, 2022</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zhx3bPW01B6a" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zY1VNL1JCCng" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major VIEs (Including VIE’s Subsidiaries)</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhejiang Jingbo Ecological Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zZ1K0fbHiBH6" title="Entity incorporation, date of incorporation">December 18, 2019</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zJraVciuZy2g" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zstAT2yObqxk" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hangzhou Zhuyi Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_z9HgwVD51OD8" title="Entity incorporation, date of incorporation">November 13, 2017</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zIWiIKegWB6d" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zn6n2GUDMFcc" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"></p> <p id="xdx_8A7_zcNImwt68Ft6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"></p>
CY2023 SVMB Schedule Of Economic Benefits Ownership Percentage
ScheduleOfEconomicBenefitsOwnershipPercentage
<p id="xdx_895_ecustom--ScheduleOfEconomicBenefitsOwnershipPercentage_z8Tcr1z0Kbtj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_z9vW6fyLJ0Bj" style="display: none">Schedule of Economic Benefits Ownership Percentage</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Companies</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Country/Place and date of incorporation/establishment</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage of direct or indirect economic benefits ownership</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 31,</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major Subsidiaries</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 42%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking Group Limited</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman <span id="xdx_90F_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingGroupLimitedMember_zVOQNRxS0rp2" title="Entity incorporation, date of incorporation">June 29, 2022</span></span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zTbycstYoPr2" style="width: 14%; text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zigpm42LYFdb" style="width: 14%; text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intellegence Parking (Hong Kong) Limited</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong Kong <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingHongKongLimitedMember_z00BYRwkAsT8" title="Entity incorporation, date of incorporation">July 20, 2022</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zWbfjUrQdE0c" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zKFRbQXuLc52" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huixin Zhiying (Hangzhou) Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--HuixinZhiyingTechnologyMember_zUgrBxWj8Dwi" title="Entity incorporation, date of incorporation">October 24, 2022</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zhx3bPW01B6a" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zY1VNL1JCCng" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major VIEs (Including VIE’s Subsidiaries)</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhejiang Jingbo Ecological Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zZ1K0fbHiBH6" title="Entity incorporation, date of incorporation">December 18, 2019</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_980_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zJraVciuZy2g" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zstAT2yObqxk" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hangzhou Zhuyi Technology Co.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRC <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_c20220601__20230531__srt--ConsolidatedEntitiesAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_z9HgwVD51OD8" title="Entity incorporation, date of incorporation">November 13, 2017</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230531__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zIWiIKegWB6d" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220531__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zn6n2GUDMFcc" style="text-align: right" title="Subsidiary, ownership percentage, parent"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"></p>
CY2023 us-gaap Profit Loss
ProfitLoss
-6783522 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-23887645 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
102130 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-6894883 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-18433688 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17094189 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zOq2fcp4H7u" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zWyklNY5bCD1">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 SVMB Business Combinationand Non Controlling Interests
BusinessCombinationandNonControllingInterests
<p id="xdx_844_ecustom--BusinessCombinationandNonControllingInterests_zbeUdfj3mGh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_ztrjchs1jyhh">Business Combination and Non-controlling Interests</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 15, 2022, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Intellegence Parking Group Limited (“Intellegence”), a Cayman Island company formed on June 29, 2022, Chen Xinxin (“Xinxin”), the officer and director, and control shareholder of Intelligence and the shareholders of Intelligence (the “Shareholders”). Under the Share Exchange Agreement, One Hundred Percent (<span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221215__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SavmobTechnologyIncMember_zXMv1KUUugV4" title="Equity method investment, ownership percentage">100</span>%) of the ownership interest of Intellegence was exchanged for <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220628__20220629__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SavmobTechnologyIncMember_zwhdijKsCQfa" title="Number of shares issued">1,000,000,000</span> shares of common stock of SVMB issued to the Shareholders, in accordance with the Share Exchange Agreement. The former stockholders of Intellegence will acquire a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby Intellegence is the accounting acquirer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Immediately after completion of such share exchange, SVMB will hold a total of <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_c20230531__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_zJFQaw2EvxB" title="Common stock, shares, issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_c20230531__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_zDte1Q7JwfE9" title="Common stock, shares, outstanding">200,000,000</span></span> issued and outstanding shares of Intellegence. Zhang Guowei is the sole director of Intellegence Parking Group Limited.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SVMB and Intellegence consolidated the financial statements through common control. As a result, the Company measured the recognized assets and liabilities combined at their historical cost at the acquisition date. The difference between consideration paid and assets and liabilities received are presented as a component of equity and additional paid-in-capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhejiang Jingbo Ecological Technology and Hangzhou Zhuyi, Linglingyi, Lingshan, Anping, Haikou, Yibin, Xide Tongpo and Taining consolidated the financial statements through acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jingbo accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805 — “Business Combinations”. The cost of an acquisition is measured as the aggregate of the acquisition date fair value of the assets transferred to the sellers, liabilities incurred by Jingbo and equity instruments issued by Jingbo. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets acquired and liabilities assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In a business combination achieved in stages, Jingbo re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated statements of comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements include the financial statements of Jingbo its subsidiaries, the VIEs and VIE’s subsidiaries for which the Company is considered the ultimate primary beneficiary for accounting purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A subsidiary is an entity in which the Company directly or indirectly controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of notes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A VIE is an entity in which the Company’s subsidiary, through contractual agreements, has the power to direct activities of the VIEs that most significantly impact their economic performance, and has the right to receive economic benefits from the VIEs that could potentially be significant to them, and therefore the Company is considered the ultimate primary beneficiary of the entity for accounting purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All transactions and balances among the Company, its subsidiaries, the VIEs and VIEs’ subsidiaries have been eliminated upon consolidation. The results of subsidiaries and VIEs acquired or disposed of during the year are recorded in the consolidated statements of comprehensive loss from the effective dates of acquisition or up to the effective dates of disposal, as appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Lessee Finance Lease Description
LesseeFinanceLeaseDescription
As the lessee, a lease is a finance lease if any of the following conditions exists: a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the asset’s estimated remaining economic life, or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased asset to the lessor at the inception date.
CY2023Q2 SVMB Advances To Employees
AdvancesToEmployees
125508 usd
CY2022Q2 SVMB Advances To Employees
AdvancesToEmployees
421501 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
157164 usd
CY2022Q2 us-gaap Other Assets
OtherAssets
212062 usd
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
39 usd
CY2022Q2 us-gaap Prepaid Taxes
PrepaidTaxes
100243 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2021604 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6329690 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9314359 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9314359 usd
CY2023Q2 SVMB Prepayment
Prepayment
591277 usd
CY2022Q2 SVMB Prepayment
Prepayment
2382151 usd
CY2023Q2 us-gaap Prepaid Rent
PrepaidRent
438256 usd
CY2022Q2 us-gaap Prepaid Rent
PrepaidRent
492620 usd
CY2023Q2 us-gaap Deposit Assets
DepositAssets
366478 usd
CY2022Q2 us-gaap Deposit Assets
DepositAssets
653538 usd
CY2023Q2 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
342882 usd
CY2022Q2 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
2067575 usd
CY2023 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
3801884 usd
CY2023 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
2972652 usd
CY2023 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
-608667 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9534924 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9534924 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2357960 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2357960 usd
CY2023 us-gaap Depreciation
Depreciation
887858 usd
CY2023 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1
123704 usd
CY2023 SVMB Effects Of Currency Translation
EffectsOfCurrencyTranslation
169013 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2953101 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2953101 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6956399 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6956399 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6581823 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6581823 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16100 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16100 usd
CY2023 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
13443 usd
CY2023 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-1014 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
28529 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
28529 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2818 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2818 usd
CY2023 SVMB Finitelived Intangible Assets Accumlated Depreciation
FinitelivedIntangibleAssetsAccumlatedDepreciation
10245 usd
CY2023 SVMB Finitelived Intangible Assets Accumulated Depreciation Effects Of Currency Translation
FinitelivedIntangibleAssetsAccumulatedDepreciationEffectsOfCurrencyTranslation
-77 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12986 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12986 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13282 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15543 usd
CY2022Q2 SVMB Operating Lease Right Of Use Asset Cost
OperatingLeaseRightOfUseAssetCost
2218295 usd
CY2023 SVMB Operating Lease Right Of Use Asset Cost Additions
OperatingLeaseRightOfUseAssetCostAdditions
39995 usd
CY2023 SVMB Operating Lease Right Of Use Asset Cost Effects Of Currency Translation
OperatingLeaseRightOfUseAssetCostEffectsOfCurrencyTranslation
-99645 usd
CY2023Q2 SVMB Operating Lease Right Of Use Asset Cost
OperatingLeaseRightOfUseAssetCost
2118650 usd
CY2022Q2 SVMB Operating Lease Right Of Use Asset Accumulated Depreciation
OperatingLeaseRightOfUseAssetAccumulatedDepreciation
1271999 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
649538 usd
CY2023 SVMB Operating Lease Right Of Use Asset Accumulated Depreciation Effects Of Currency Translation
OperatingLeaseRightOfUseAssetAccumulatedDepreciationEffectsOfCurrencyTranslation
-80071 usd
CY2023Q2 SVMB Operating Lease Right Of Use Asset Accumulated Depreciation
OperatingLeaseRightOfUseAssetAccumulatedDepreciation
1841466 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
946296 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
277184 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1373587 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
221267008.77
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
33211152 usd
CY2023 us-gaap Long Term Debt Description
LongTermDebtDescription
Zhibo extended the above contracts to September 30, 2025 when they expired in 2022. Repayments and interest expenses are not required until September 30, 2024. Interest expenses calculated on an annual rate of 3% will be paid monthly from 1 October, 2024. Principle will be fully repaid upon maturity
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
338657 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
283082 usd
CY2023Q2 us-gaap Deposit Liability Current
DepositLiabilityCurrent
27194 usd
CY2022Q2 us-gaap Deposit Liability Current
DepositLiabilityCurrent
9891 usd
CY2023Q2 us-gaap Loans Payable Current
LoansPayableCurrent
344585 usd
CY2022Q2 us-gaap Loans Payable Current
LoansPayableCurrent
507388 usd
CY2023Q2 SVMB Advanced To Employees Current
AdvancedToEmployeesCurrent
70305 usd
CY2022Q2 SVMB Advanced To Employees Current
AdvancedToEmployeesCurrent
75048 usd
CY2023Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
1301624 usd
CY2022Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
1627732 usd
CY2023 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
713753 usd
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
16552 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
11814399 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6783299 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6894883 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1695825 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1723721 usd
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
17832 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1721 usd
CY2023 SVMB Income Tax Reconciliation Income Tax Expense Benefit Deferred Tax Asset Not Recognized During Period
IncomeTaxReconciliationIncomeTaxExpenseBenefitDeferredTaxAssetNotRecognizedDuringPeriod
1678216 usd
CY2022 SVMB Income Tax Reconciliation Income Tax Expense Benefit Deferred Tax Asset Not Recognized During Period
IncomeTaxReconciliationIncomeTaxExpenseBenefitDeferredTaxAssetNotRecognizedDuringPeriod
1722000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
223 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
221267008.77
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
33211152 usd
CY2023 us-gaap Long Term Debt Description
LongTermDebtDescription
Zhibo extended the above contracts to September 30, 2025 when they expired in 2022. Repayments and interest expenses are not required until September 30, 2024. Interest expenses calculated on an annual rate of 3% will be paid monthly from 1 October, 2024. Principle will be fully repaid upon maturity
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
234289035.38
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
32952046 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
234289035.38
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
21318081.01
CY2023Q1 us-gaap Debt Instrument Unamortized Premium Noncurrent
DebtInstrumentUnamortizedPremiumNoncurrent
19814872.94
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
232785827.31
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
32740623 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
277184 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
126659 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
121555 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
136710 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
658774 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
127793 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
321294 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
264503 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
980068 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16289 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42520 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
248214 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
937548 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
126659 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
637110 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
121555 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
300438 usd
CY2023Q2 us-gaap Minority Interest
MinorityInterest
-1016563 usd
CY2022Q2 us-gaap Minority Interest
MinorityInterest
-626651 usd
CY2023 SVMB Statutory Reserve Description
StatutoryReserveDescription
Pursuant to the laws applicable to the PRC’s Foreign Investment Enterprises, the Company must make appropriations from after-tax profit to non-distributable reserve funds. Subject to certain cumulative limits, the general reserve requires annual appropriations of 10% of after-tax profits as determined under the PRC laws and regulations at each year-end until the balance reaches 50% of the PRC entity registered capital; the other reserve appropriations are at the Company’s discretion.
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.04 pure
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
1300000 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.04 pure
CY2023 us-gaap Debt Instrument Interest Rate Increase Decrease
DebtInstrumentInterestRateIncreaseDecrease
0.10 pure
CY2023 SVMB Increase Decrease In Interest Expense
IncreaseDecreaseInInterestExpense
32371 usd

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