secwatch.observer — SEC 8-K summary
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Issuer:     Jingbo Technology, Inc. (SVMB)
CIK:        0001647822
Form:       8-K
Filed at:   2024-12-12T23:59:59+00:00
Accession:  0001493152-24-049819
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 3.02, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jingbo Technology completes acquisition of Xinghe, issues 550M shares; Hangdu becomes ~99% owner
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- Issued 550M common shares to Hangdu for all Xinghe shares; Hangdu now holds approximately 99.0% of Jingbo.
- Pre-acquisition debt of $22,032,891 owed to Shaoxing Keqiao extinguished post-closing.
- Acquired VIE structure controls Shaoxing Keqiao, specializing in intelligent parking in Zhejiang, China.
- Xinghe audited financials show zero revenue for FY 2024 and FY 2023; $22.3M assets largely due from related parties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647822/000149315224049819/0001493152-24-049819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647822/000149315224049819/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-049819

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