VIE Structure and Risks Relating to Our Corporate Structure Jingbo Technology, Inc. is a Nevada holding company that conducts its operations in mainland China through Huixin Zhiying (Hangzhou) Technology Co. ( Huixin WFOE ), Guangzhou Keqiao Enterprise Management Consulting Co., Ltd. ( Keqiao WFOE ), their respective variable interest entities, Zhejiang Jingbo Ecological Technology Co. ( Jingbo…
The business is unprofitable at the operating level (-256.15% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 35.2% YoY with margins expanding 66.4pp.
ROIC dropped from -21.59% to -31.70%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$2M
▲ +35.2% YoY
Net Income (TTM)
-$2M
▼ -13.2% YoY
Op. Margin
-200.63%
▲ +66.4pp YoY
ROIC
-12.80%
▼ -10.1pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$214K
▲ +27.7% YoY
Net Debt
$22M
Cash & Equiv.
$130K
5Y CAGR: +192.5%
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