2023 Q3 Form 10-Q Financial Statement

#000149315223039283 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q3
Revenue $401.9K
YoY Change
Cost Of Revenue $623.4K
YoY Change
Gross Profit -$221.5K
YoY Change
Gross Profit Margin -55.11%
Selling, General & Admin $1.175M $13.93K
YoY Change 8332.03% -30.14%
% of Gross Profit
Research & Development $97.91K $6.521K
YoY Change 1401.4%
% of Gross Profit
Depreciation & Amortization $199.7K $327.9K
YoY Change -39.11%
% of Gross Profit
Operating Expenses $1.311M $13.93K
YoY Change 9313.33% -30.16%
Operating Profit -$1.532M -$13.93K
YoY Change 10903.91% -30.16%
Interest Expense $200.00 $100.00
YoY Change 100.0%
% of Operating Profit
Other Income/Expense, Net $349.00 -$63.54K
YoY Change -100.55%
Pretax Income -$1.532M -$13.93K
YoY Change 10898.24% -30.14%
Income Tax
% Of Pretax Income
Net Earnings -$1.532M -$13.93K
YoY Change 10901.4% -30.16%
Net Earnings / Revenue -381.2%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$225.00
COMMON SHARES
Basic Shares Outstanding 1.062B shares 61.90M shares
Diluted Shares Outstanding 1.062B shares 61.90M shares

Balance Sheet

Concept 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $646.0K $0.00
YoY Change -100.0%
Cash & Equivalents $270.0K
Short-Term Investments $376.0K
Other Short-Term Assets $1.506M $10.00
YoY Change 15059900.0%
Inventory $208.4K
Prepaid Expenses $10.00
Receivables $457.1K
Other Receivables $531.0K
Total Short-Term Assets $3.349M $10.00
YoY Change 33486250.0% -98.36%
LONG-TERM ASSETS
Property, Plant & Equipment $6.196M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.714M
YoY Change
Total Long-Term Assets $9.165M $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.349M $10.00
Total Long-Term Assets $9.165M $0.00
Total Assets $12.51M $10.00
YoY Change 125135060.0% -98.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $777.5K $3.830K
YoY Change 20200.42% -79.71%
Accrued Expenses $591.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $338.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.131M $21.90K
YoY Change 32459.7% -64.69%
LONG-TERM LIABILITIES
Long-Term Debt $30.22M $0.00
YoY Change
Other Long-Term Liabilities $101.0K
YoY Change
Total Long-Term Liabilities $30.32M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.131M $21.90K
Total Long-Term Liabilities $30.32M $0.00
Total Liabilities $37.45M $21.90K
YoY Change 170891.93% -64.69%
SHAREHOLDERS EQUITY
Retained Earnings -$34.24M -$274.5K
YoY Change 12374.0%
Common Stock $9.536M $252.6K
YoY Change 3674.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$23.88M -$21.89K
YoY Change
Total Liabilities & Shareholders Equity $12.51M $10.00
YoY Change 125135060.0% -98.36%

Cashflow Statement

Concept 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.532M -$13.93K
YoY Change 10901.4% -30.16%
Depreciation, Depletion And Amortization $199.7K $327.9K
YoY Change -39.11%
Cash From Operating Activities $1.143M -$18.07K
YoY Change -6425.33% 38.49%
INVESTING ACTIVITIES
Capital Expenditures $100.5K $716.1K
YoY Change -85.97%
Acquisitions
YoY Change
Other Investing Activities $140.6K $33.20K
YoY Change 323.49%
Cash From Investing Activities $40.12K -$682.9K
YoY Change -105.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.388M $18.07K
YoY Change -7779.14% 40.65%
NET CHANGE
Cash From Operating Activities $1.143M -$18.07K
Cash From Investing Activities $40.12K -$682.9K
Cash From Financing Activities -$1.388M $18.07K
Net Change In Cash -$211.8K
YoY Change
FREE CASH FLOW
Cash From Operating Activities $1.143M -$18.07K
Capital Expenditures $100.5K $716.1K
Free Cash Flow $1.043M -$734.2K
YoY Change -242.02%

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13881 usd
CY2022Q3 SVMB Repaid For Rightofuse Assets
RepaidForRightofuseAssets
23181 usd
CY2023Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
154491 usd
CY2022Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
56416 usd
CY2023Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
100489 usd
CY2022Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
716112 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
40121 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-682877 usd
CY2023Q3 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
483961 usd
CY2022Q3 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
55938 usd
CY2022Q3 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
1846095 usd
CY2023Q3 us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-1871812 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1387851 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1902033 usd
CY2023Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-7295 usd
CY2022Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1109 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-211848 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-29402 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
282130 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
79385 usd
CY2023Q3 SVMB Interest Received
InterestReceived
158 usd
CY2022Q3 SVMB Interest Received
InterestReceived
104 usd
CY2023Q3 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_zaVPHOL1hsAf" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; 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="a_007"></span><span id="xdx_82A_zfCvvKj6xDRi">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"><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_zHCghPHSZir6" 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_zmNaHygKtCB1" 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"><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_zzSWGkFSurn3" 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"><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_zP64OPGK1gnc" title="Restricted shares transferred"><span id="xdx_902_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ArdenWealthAndTrustMember_zPImQMtjGIFj" 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_zmcuWYdJ7J6l" title="Restricted shares transferred"><span id="xdx_904_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HongLingShangMember_zE5J1Lzm6qVg" 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_zUPoXn0MUSGg" title="Restricted shares transferred"><span id="xdx_906_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--BusinessAcquisitionAxis__custom--NewReapGlobalLtdMember_zdcw3D5et1of" 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_zFAK72zXwf8" title="Restricted shares transferred"><span id="xdx_90D_ecustom--RestrictedSharesTransferred_c20180509__20180510__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JianlongWuMember_zVDbYRlt92Pg" 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_zBbtqUpL6jFl" 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"><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_zfkpgZJnPgj8" 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_zsOXGJmzpC24" 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"><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_zicx7c94tcoa" 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_zNhuCi4Rmxm9" 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_zA4qxg08zuDe" 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"><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_zGGrcBzT4ZOj" 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_z7u8WKDK3aUb" 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_zFJe5kqVx614" 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_z6XtncHd09l1" 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_zWwug96fqLm3" 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_ziVzmmP7EBg6" 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 id="xdx_89A_ecustom--ScheduleOfShareAcquiredTableTextBlock_zPqOXowz3Pld" 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><span id="xdx_8B9_zOiC1AQiAVr" style="display: none">Schedule of Share Acquired by Purchases</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> <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">Purchasers</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_48C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_zdwQOnf9GfCc" style="border-bottom: Black 1.5pt solid; text-align: center">Shares acquired</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">%</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_41A_20220607__20220608__srt--TitleOfIndividualAxis__custom--ZhangYipingMember_zkDK9koNZkuk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Zhang Yiping</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">15,189,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangYipingMember_zL1uA6NBbzMk" style="width: 16%; text-align: right" title="Ownership percentage of shares acquired">24.54</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_41F_20220607__20220608__srt--TitleOfIndividualAxis__custom--ChenXinxinMember_zsh98paDOjmi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Chen Xinxin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ChenXinxinMember_zG8GqJ9PVpcj" style="text-align: right" title="Ownership percentage of shares acquired">6.46</td><td style="text-align: left">%</td></tr> <tr id="xdx_419_20220607__20220608__srt--TitleOfIndividualAxis__custom--WangYanfangMember_zGOL0YebLEo" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Wang Yanfang</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WangYanfangMember_z9pJ9GW7ygZb" style="text-align: right" title="Ownership percentage of shares acquired">3.23</td><td style="text-align: left">%</td></tr> <tr id="xdx_41F_20220607__20220608__srt--TitleOfIndividualAxis__custom--LiuChenMember_zDplPRlYqEWj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liu Chen</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--LiuChenMember_zkMyb5MLsJk1" style="text-align: right" title="Ownership percentage of shares acquired">3.23</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Liu Ying</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220607__20220608__srt--TitleOfIndividualAxis__custom--LiuYingMember_zDvBEUmJHGPg" style="text-align: right" title="Shares acquired">1,906,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220608__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--LiuYingMember_zq431wjDePef" style="text-align: right" title="Ownership percentage of shares acquired">3.08</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A8_zrGoaSKa7cij" 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">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_zmCmmqBALZib" 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_zk17JYTAzFOd" 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_90E_eus-gaap--CommonStockSharesIssued_iI_c20230831__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_z2ck55EQRq7b" title="Common stock, shares, issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_c20230831__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhangGuoweMember_zsKJa2Ok5LQl" 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"></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 id="xdx_895_ecustom--ScheduleOfEconomicBenefitsOwnershipPercentage_zTW3xqobBIC6" 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><span id="xdx_8B6_zpSFKB8ZdE0i" style="display: none">Schedule of Economic Benefits Ownership Percentage</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></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center">Companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">Country/Place and date of incorporation/establishment</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center">Percentage of direct or indirect <br/> economic benefits ownership <br/> August 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Major Subsidiaries</td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Intellegence Parking Group Limited</td><td style="width: 2%"> </td> <td style="width: 10%; text-align: justify">Cayman <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingGroupLimitedMember_z0yJuEUhNLg" title="Entity incorporation, date of incorporation">June 29, 2022</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zm9McVew4BJc" style="width: 10%; text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zfFvHwEpAc1c" style="width: 10%; text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intellegence Parking (Hong Kong) Limited</td><td> </td> <td style="text-align: justify">Hong Kong <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingHongKongLimitedMember_zu7snHm3CxFe" title="Entity incorporation, date of incorporation">July 20, 2022</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zNZ2vmrmhgT8" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zYOkCQZdZ7Dj" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Huixin Zhiying (Hangzhou) Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--HuixinZhiyingTechnologyMember_zAflpIx0maja" title="Entity incorporation, date of incorporation">October 24, 2022</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zuAavUqi1Vj2" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zMzWMTCZLYNl" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Major VIEs (Including VIE’s Subsidiaries)</td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Zhejiang Jingbo Ecological Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zepe36IcE5vc" title="Entity incorporation, date of incorporation">December 18, 2019</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zcRCkO1GEF4g" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zLX7ICLLw7bi" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Hangzhou Zhuyi Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zcEE8bFzag7i" title="Entity incorporation, date of incorporation">November 13, 2017</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zFQhTyEHZlqd" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zF9Zg4h0GjWa" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8AE_zfVQ1jNGUYs7" 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></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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2023Q3 SVMB Schedule Of Economic Benefits Ownership Percentage
ScheduleOfEconomicBenefitsOwnershipPercentage
<p id="xdx_895_ecustom--ScheduleOfEconomicBenefitsOwnershipPercentage_zTW3xqobBIC6" 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><span id="xdx_8B6_zpSFKB8ZdE0i" style="display: none">Schedule of Economic Benefits Ownership Percentage</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></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center">Companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">Country/Place and date of incorporation/establishment</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center">Percentage of direct or indirect <br/> economic benefits ownership <br/> August 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Major Subsidiaries</td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Intellegence Parking Group Limited</td><td style="width: 2%"> </td> <td style="width: 10%; text-align: justify">Cayman <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingGroupLimitedMember_z0yJuEUhNLg" title="Entity incorporation, date of incorporation">June 29, 2022</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zm9McVew4BJc" style="width: 10%; text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--IntellegenceParkingGroupLimitedMember_zfFvHwEpAc1c" style="width: 10%; text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intellegence Parking (Hong Kong) Limited</td><td> </td> <td style="text-align: justify">Hong Kong <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--IntellegenceParkingHongKongLimitedMember_zu7snHm3CxFe" title="Entity incorporation, date of incorporation">July 20, 2022</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zNZ2vmrmhgT8" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--IntellegenceParkingHongKongLimitedMember_zYOkCQZdZ7Dj" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Huixin Zhiying (Hangzhou) Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--HuixinZhiyingTechnologyMember_zAflpIx0maja" title="Entity incorporation, date of incorporation">October 24, 2022</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zuAavUqi1Vj2" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--HuixinZhiyingTechnologyMember_zMzWMTCZLYNl" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Major VIEs (Including VIE’s Subsidiaries)</td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Zhejiang Jingbo Ecological Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zepe36IcE5vc" title="Entity incorporation, date of incorporation">December 18, 2019</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zcRCkO1GEF4g" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--ZhejiangJingboEcologicalTechnologyVIEMember_zLX7ICLLw7bi" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Hangzhou Zhuyi Technology Co.</td><td> </td> <td style="text-align: justify">PRC <span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230601__20230831__srt--ConsolidatedEntitiesAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zcEE8bFzag7i" title="Entity incorporation, date of incorporation">November 13, 2017</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20230831__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zFQhTyEHZlqd" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220831__srt--OwnershipAxis__custom--HangzhouZhuyiTechnologyCoVIEMember_zF9Zg4h0GjWa" style="text-align: right" title="Subsidiary, ownership percentage, parent">100</td><td style="text-align: left">%</td></tr> </table>
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CY2023Q3 SVMB Effects Of Currency Translation
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495 usd
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15543 usd
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14734 usd
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2118650 usd
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1834949 usd
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0.0364 pure
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0.10 pure
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CY2023Q3 us-gaap Increase Decrease In Due From Related Parties
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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.
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023Q3 SVMB Income Tax Reconciliation Income Tax Expense Benefit Deferred Tax Asset Not Recognized During Period
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CY2022Q2 us-gaap Long Term Debt
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CY2022Q2 us-gaap Long Term Debt
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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
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CY2023Q1 us-gaap Long Term Debt
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CY2023Q3 us-gaap Operating Lease Liability Noncurrent
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13075 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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16289 usd
CY2023Q3 us-gaap Operating Lease Liability
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CY2023Q3 us-gaap Operating Lease Liability Noncurrent
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CY2023Q3 us-gaap Minority Interest
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CY2023Q2 us-gaap Minority Interest
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CY2023Q3 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.
CY2023Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
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0.0364 pure
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
1100000 usd

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