Level up your trading with our powerful tools and real-time insights all in one place.

Get Started

SVMB Jingbo Technology Inc (PK)

2.16

0.00 (0.00%)

Nov 27 2024 - Closed

Delayed by 15 minutes

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2023

Or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission file number: 333-206804

Savmobi Technology, Inc.

(Exact name of Company as specified in its charter)

Nevada		47-3240707
(State of incorporation)		(I.R.S. Employer Identification No.)

Building B8, China Zhigu, Yinhu Street, Fuyang District, Hangzhou, Zhejiang, China

(Address of principal executive offices)

+86 57187197085

(Company’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Exchange Act:

None

Securities registered pursuant to Section 12(g) of the Act:

Title of Each Class		Name of Each Exchange On Which Registered
Common Stock, $0.001 par value per share		N/A

Indicate by check mark if the Company is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the Company is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Company has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Company was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of Company’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☐

Indicate by check mark whether the Company is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☒
(Do not check if a smaller reporting company)		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the Company is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of October 4, 2023, 1,061,900,000 shares of the issuer’s common stock were issued and outstanding.

Documents Incorporated By Reference: None

FORM 10-Q

TABLE OF CONTENTS

		Page No.
PART I. - FINANCIAL INFORMATION

Item 1.	Financial Statements
	Condensed Consolidated Balance Sheets as of August 31, 2023 (Unaudited) and May 31, 2023 (Audited)	3
	Condensed Consolidated Statements of Operations for the Three Months Ended August 31, 2023 and 2022	4
	Condensed Consolidated Statements of Stockholders’ Equity/(Deficit)	5
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended August 31, 2023 and 2022	6
	Notes to Financial Statements (Unaudited)	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	31
Item 4.	Controls and Procedures	31

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	32
Item 1A	Risk Factors	32
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	32
Item 3.	Defaults Upon Senior Securities	32
Item 4.	Mine Safety Disclosures	32
Item 5.	Other Information	32
Item 6.	Exhibits	32
SIGNATURES		33

2

SAVMOBI TECHNOLIGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS


		August 31, 2023 (Unaudited)				May 31, 2023 (Audited)
			$				$
Assets
Current assets
Cash and cash equivalents			269,959				483,705
Restricted cash			12,171				10,273
Accounts receivable			457,057				409,380
Inventories			208,397				177,034
Amount due from related parties			16,000				16,000
Prepaid expenses and other current assets			2,385,051				2,021,604
Total current assets			3,348,635				3,117,996

Non-current assets
Plant and equipment, net			6,195,788				6,581,823
Intangible assets, net			14,734				15,543
Right-of-use assets			240,442				277,184
Other non-current assets			2,713,917				2,884,090
Total non-current assets			9,164,881				9,758,640

Total Assets			12,513,516				12,876,636

Liabilities and Stockholders’ (Deficit) Equity
Current liabilities
Accounts payables			777,506				775,293
Advances from customers			3,157,940				622,069
Other current payables			1,501,849				1,301,624
Taxes payable			34,638				18,737
Amounts due to related parties			1,530,744				1,057,721
Operating lease liabilities, current			128,548				126,659
Total current liabilities			7,131,225				3,902,103

Non-current liabilities
Long-term loan			30,215,181				32,740,623
Operating lease liabilities			100,827				121,555
Total non-current liabilities			30,316,008				32,862,178

Total Liabilities			37,447,233				36,764,281

Stockholders’ (Deficit) Equity
Common stock ($0.001 par value, 10,000,000,000 shares authorized, 1,061,900,000 share issued and outstanding as of August 31, 2023 and May 31, 2023, respectively)			1,061,900				1,061,900
Additional paid-in capital			8,474,336				8,474,336
Accumulated deficit			(34,244,374	)			(32,751,349	)
Accumulated other comprehensive income			831,793				344,031
Non-controlling interest			(1,057,372	)			(1,016,563	)
Total (Deficit) Equity			(24,933,717	)			(23,887,645	)

Total Liabilities and (Deficit) Equity			12,513,516				12,876,636

3

SAVMOBI TECHNOLIGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

for the three months ended August 31, 2023 and 2022


		2023				2022
			$				$
Net revenues			401,904				796,377
Cost of revenues			(623,408	)			(1,196,709	)
Gross loss			(221,504	)			(400,332	)

Operating expenses:
Tax and surcharges			(2,303	)			(162	)
Selling and marketing expenses			(98,485	)			(183,449	)
General and administrative expenses			(1,076,097	)			(1,603,136	)
Research and development expenses			(97,906	)			(6,521	)
Impairment losses			(36,109	)			-
Total operating expenses			(1,310,900	)			(1,793,268	)

Operating loss			(1,532,404	)			(2,193,600	)

Other income (expenses):
Interest income			158				104
Other income/(expense)			191				(63,645	)
Total other income and (expenses)			349				(63,541	)

Loss before taxes from operations			(1,532,055	)			(2,257,141	)

Provision for income taxes			-				-

Net loss			(1,532,055	)			(2,257,141	)

Other comprehensive income:
Foreign currency translation income			485,983				663,592
Total comprehensive loss			(1,046,072	)			(1,593,549	)

Net loss attributable to :
Owners of the Company			(1,493,025	)			(2,240,061	)
Non-controlling interest			(39,030	)			(17,080	)
Net Loss			(1,532,055	)			(2,257,141	)
Total comprehensive loss attributable to :
Owners of the Company			(1,005,263	)			(1,584,594	)
Non-controlling interest			(40,809	)			(8,955	)
Total Comprehensive Loss			(1,046,072	)			(1,593,549	)
Loss per common share:
Basic and diluted			(0.00	)			(0.04	)

Weighted Average Number of Common Share Outstanding:
Basic and Diluted			1,061,900,000				61,900,000

4

SAVMOBI TECHNOLIGY, INC. AND SUBSIDIARIES

CONDENSE CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

For the three months ended August 31, 2023 and 2022


		Common Stock								Additional Paid In				Retained				Other Comprehensive				Total Shareholders’				Non- controlling				Total
		Shares				Amount				Capital				Earnings				Income/(loss)				Equity				Interest				Equity
Balance at, May 31, 2022 (Unaudited)			61,900,000				61,900				9,474,336				(26,355,961	)			(987,312	)			(17,807,037	)			(626,651	)			(18,433,688	)
Net loss			-				-				-				(2,240,061	)			-				(2,240,061	)			(17,080	)			(2,257,141	)
Foreign currency translation adjustments			-				-				-				-				655,467				655,467				8,125				663,592
Balance at, August 31, 2022 (Unaudited)			61,900,000				61,900				9,474,336				(28,596,022	)			(331,845	)			(19,391,631	)			(635,606	)			(20,027,237	)

Balance at, May 31,2023 (Audited)			1,061,900.000				1,061,900				8,474,336				(32,751,349	)			344,031				(22,871,082	)			(1,016,563	)			(23,887,645	)
Balance			1,061,900.000				1,061,900				8,474,336				(32,751,349	)			344,031				(22,871,082	)			(1,016,563	)			(23,887,645	)
Net loss			-				-				-				(1,493,025	)			-				(1,493,025	)			(39,030	)			(1,532,055	)
Foreign currency translation adjustments			-				-				-				-				487,762				487,762				(1,779	)			485,983
Balance at, August 31, 2023 (Unaudited)			1,061,900.000				1,061,900				8,474,336				(34,244,374	)			831,793				(23,876,345	)			(1,057,372	)			(24,933,717	)
Balance			1,061,900.000				1,061,900				8,474,336				(34,244,374	)			831,793				(23,876,345	)			(1,057,372	)			(24,933,717	)

5

SAVMOBI TECHNOLIGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the three months ended August 31, 2023 and 2022

		2023				2022
			$				$
Net loss			(1,532,055	)			(2,257,141	)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization			200,156				327,944
Depreciation of right-of-use assets			31,331				175,257
Bad debt expense			36,109				-
Changes in operating assets and liabilities
Accounts receivable			(56,485	)			(37,753	)
Inventories			(35,258	)			(14,160	)
Prepaid expenses and other current assets			(444,574	)			218,849
Other non-current assets			112,177				224,958
Accounts payable and other current liabilities			2,831,776				114,597
Net cash provided by/(used in) operating activities			1,143,177				(1,247,449	)

Cash flows from investing activities
Repaid for right-of-use assets			(13,881	)			(23,181	)
Proceeds from sale of property and equipment			154,491				56,416
Purchase of property and equipment			(100,489	)			(716,112	)
Net cash (used in)/provided by investing activities			40,121				(682,877	)

Cash flows from financing activities
Amount due to related party			483,961				55,938
Proceeds from long-term borrowings			-				1,846,095
Repayments of long-term borrowings			(1,871,812	)			-
Net cash (used in)/provided by financing activities			(1,387,851	)			1,902,033

Effect of exchange rate changes on cash and cash equivalents			(7,295	)			(1,109	)

Net increase/(decrease) of cash and cash equivalents			(211,848	)			(29,402	)

Cash and cash equivalents–beginning of year			493,978				108,787

Cash and cash equivalents–end of year			282,130				79,385

Supplementary cash flow information:
Interest received			158				104

6

1. Organization and Principal Activities

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.

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 32,500,000 shares of common stock, representing 68.4% ownership of the Company.

On March 19, 2018 New Reap Global transferred 250,000 restricted shares to Eng Wah Kung.

On May 10, 2018 and May 30, 2018, 16,959,684 were transferred to Arden Wealth and Trust. 2,000,000 shares are free trading from HongLing Shang, 559,684 restricted shares from New Reap Global, LTD and 2,400,000 each from Xuedong Zhang, Jingmei Jiang, Qianxian, Yulan Qi, Baoxin Song, Jianlong Wu. On June 15, 2018 New Reap Global transferred 690,316 restricted shares to EMRD Global Holdings.

On June 26, 2018 New Reap Global transferred 3,000,000 restricted shares to FORTRESS ADVISORS, LLC and 3,000,000 to Baywall Inc.

On November 10, 2020, ten (10) shareholders of the Company, including affiliates Arden Wealth & 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 42,440,316 shares of common stock of the “Company, which represents approximately 68.6% of the issued and outstanding shares of common stock of the Company.

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 25,095,788 shares of common stock of the Company, which represents approximately 40.54% of the issued and outstanding shares of common stock of the Company, for consideration of $250,958.

The Purchase Agreements were fully executed and delivered on June 8, 2022. Zhang Yiping and Chen Xinxin acquired approximately 24.54% and 6.46% of the issued and outstanding shares of the Company, respectively, and the remaining purchasers each acquired less than 4.99% 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.

Schedule of Share Acquired by Purchases

Purchasers		Shares acquired				%
Zhang Yiping			15,189,500				24.54	%
Chen Xinxin			4,000,000				6.46	%
Wang Yanfang			2,000,000				3.23	%
Liu Chen			2,000,000				3.23	%
Liu Ying			1,906,288				3.08	%

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 (100%) of the ownership interest of Intellegence was exchanged for 1,000,000,000 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.

Immediately after completion of such share exchange, SVMB will hold a total of 200,000,000 issued and outstanding shares of Intellegence. Zhang Guowei is the sole director of Intellegence Parking Group Limited.

7

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.

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.

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.

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.

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.

The Company consolidated its financial statements due to common control.

The Company’s major subsidiaries, VIEs and VIE’s subsidiaries are described as follows:

Companies		Country/Place and date of incorporation/establishment		Percentage of direct or indirect economic benefits ownership August 31,
				2023				2022
Major Subsidiaries
Intellegence Parking Group Limited		Cayman June 29, 2022			100	%			100	%
Intellegence Parking (Hong Kong) Limited		Hong Kong July 20, 2022			100	%			100	%
Huixin Zhiying (Hangzhou) Technology Co.		PRC October 24, 2022			100	%			100	%

Major VIEs (Including VIE’s Subsidiaries)
Zhejiang Jingbo Ecological Technology Co.		PRC December 18, 2019			100	%			100	%
Hangzhou Zhuyi Technology Co.		PRC November 13, 2017			100	%			100	%

2. Variable Interest Entities

Pursuant to the Business Operation Agreement entered into among Huixin WFOE and Zhejiang Jingbo Ecological Technology Co., 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.

Zhejiang Jingbo Ecological Technology Co. is a PRC company which was formed on December 18, 2019 and is engaged in the business of smart parking application software and platform operations business. Zhang Guowei has been the Chairman of Zhejiang Jingbo Ecological Technology Co. since December 2019.

8

Hangzhou Zhuyi Technology Co. (“Hangzhou Zhuyi”) was incorporated under the laws of the PRC on November 13, 2017 with a capital of RMB 60,000,000. The majority shareholder at the time of establishment was Guowei Zhang. On April 1, 2020, Zhejiang Jingbo Ecological Technology became the sole shareholder of Hangzhou Zhuyi. Hangzhou Zhuyi is specialized in smart parking projects, smart parking mobile applications and cloud platform construction innovation.

Zhejiang Linglingyi Network Technology Co. (“Linglingyi”) was incorporated on November 17, 2018. Its sole director is Guowei Zhang. Hangzhou Zhuyi acquired 100% of Linglingyi on April 29. 2022. Its main businesses are smart parking projects and smart parking mobile applications.

Liangshan Tongfu Technology Co. (“Liangshan”) was incorporated on November 13, 2018. On September 29, 2022, Hangzhou Zhuyi entered in a share agreement with Hangzhou Kaai Technology Co. to purchase 26% of Liangshan’s shares. As a result, Hangzhou Zhuyi holds 67% of Liangshan. Liangshan is into smart parking projects and smart parking mobile applications businesses.

Zhuyi Technology (Anping) Co. (“Anping”) was incorporated on May 12, 2022, which is 90% owned by Hangzhou Zhuyi and it mainly focuses on smart parking projects and smart parking mobile applications.

Haikou Zhuyi Technology Co. (“Haikou”) was incorporated on May 9, 2022 which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Yibin Huibo Technology Co. (“Yibin”) was incorporated on July 4, 2019, which is 80% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Xide Zhuyi Technology Co. (“Xide”) was incorporated on October 14, 2021, which is 67% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Hubei Tongpo Parking Management Co. (“Tongpo”) was incorporated on November 4, 2020, which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Zhuyi Technology (Taining) Co. (“Taining”) was incorporated on May 18, 2021, which is 72% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Intellengence Parking Group Limited provides smart parking projects, smart parking mobile applications and cloud platform construction innovation through its consolidated subsidiaries, variable interest entities (“VIE”s) and VIE’s subsidiaries (Collectively, the “Group”).

a. Contractual agreements with VIEs

Power of Attorney

Pursuant to the power of attorney agreements among the Wholly Foreign Owned Enterprises (“WFOE”s), the VIEs and their respective Nominee Shareholders, each Nominee Shareholder of the VIEs irrevocably undertakes to appoint the WFOE, as the attorney-in-fact to exercise all of the rights as a shareholder of the VIEs, including, but not limited to, the right to convene and attend shareholders’ meeting, vote on any resolution that requires a shareholder vote, such as appoint or remove directors and other senior management, and other voting rights pursuant to the articles of association (subject to the amendments) of the VIEs. Each power of attorney agreement is irrevocable and remains in effect as long as the Nominee Shareholder continues to be a shareholder of the VIEs. Unless otherwise required by PRC Laws, none of the VIEs or its shareholders can unilaterally terminate this agreement.

Exclusive Option Agreements

Pursuant to the exclusive option agreements among WFOEs, the VIEs and their respective Nominee Shareholders, the Nominee Shareholders granted WFOEs exclusive right to purchase, when and to the extent permitted under PRC law, all or part of the equity interests from shareholders of VIEs. The exercise price for the options to purchase all or part of the equity interests shall be the minimum amount of consideration permissible under then applicable PRC law. The agreement shall be valid until WFOEs or its designated party purchases all the shares from shareholders of VIEs. The terms of the exclusive option agreement are 10 years and can be automatically extended until such time WFOEs delivers a confirmation letter specifying the renewal term of this agreement. Unless otherwise required by PRC Laws, the VIEs or its shareholders shall not unilaterally terminate this agreement.

9

Exclusive Business Corporation Agreement

Pursuant to the exclusive business cooperation agreements among the WFOEs and the VIEs, respectively, the WFOEs have the exclusive right to provide the VIEs with services related to, among other things, comprehensive technical support, professional training, consulting services, trademark and copyright of system,. Without prior written consent of the WFOEs, the VIEs agree not to directly or indirectly accept the same or any similar services provided by any others regarding the matters ascribed by the exclusive business cooperation agreements. The VIEs agree to pay the WFOEs services fees, which shall be determined by the WFOEs. The WFOEs have the exclusive ownership of intellectual property rights created as a result of the performance of the agreements. The agreements shall remain effective except that the WFOEs are entitled to terminate the agreements in writing. Unless otherwise required by PRC Laws, the VIEs shall not unilaterally terminate this agreement.

Equity Pledge Agreement

Pursuant to the equity pledge agreements among the WFOEs, the VIEs and their respective Nominee Shareholders, the Nominee Shareholders of the VIEs pledged all of their respective equity interests in the VIEs to the WFOEs as collaterals for performance of the obligations of the VIEs and their Nominee Shareholders under the exclusive business cooperation agreements, the power of attorney agreements, and the exclusive option agreements. The Nominee Shareholders of the VIEs also undertake that, during the term of the equity pledge agreements, unless otherwise approved by the WFOEs in writing, they will not transfer the pledged equity interests or create or allow any new pledge or other encumbrance on the pledged equity interests. These equity pledge agreements remain in force until VIEs and their respective Nominee Shareholders discharge all their obligations under the contractual agreements.

Spousal Consent Letter

Pursuant to the spousal consent letters, the spouses of some of the individual Nominee Shareholders of the VIEs unconditionally and irrevocably agree that the equity interest in the VIEs held by and registered in the name of his or her respective spouse will be disposed of pursuant to the relevant exclusive business cooperation agreements, equity pledge agreements, the exclusive option agreements and the power of attorney agreements, without his or her consent. In addition, each of them agrees not to assert any rights over the equity interest in the VIEs held by their respective spouses. In addition, in the event that any of them obtains any equity interest in the VIEs held by their respective spouses for any reason, such spouses agree to be bound by similar obligations and agreed to enter into similar contractual arrangements.

b. Risks in relation to the VIE structure

On March 15, 2019, the National People’s Congress adopted the Foreign Investment Law of the PRC, which became effective on January 1, 2020, together with their implementation rules and ancillary regulations. The Foreign Investment Law does not explicitly classify contractual arrangements as a form of foreign investment, but it contains a catch-all provision under the definition of “foreign investment”, which includes investments made by foreign investors through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. It is unclear whether the Group’s corporate structure will be seen as violating the foreign investment rules as the Group is currently leveraging the contractual arrangements to operate certain business in which foreign investors are prohibited from or restricted to investing. If variable interest entities fall within the definition of foreign investment entities, the Group’s ability to use the contractual arrangements with its VIEs and the Group’s ability to conduct business through the VIEs could be severely limited.

If the PRC government otherwise finds that the Group in violation of any existing or future PRC laws or regulations or lacks the necessary permits or licenses to operate the business, the Group’s relevant PRC regulatory authorities could:

● revoke the business licenses and/or operating licenses of the Group’s PRC entities;

10

● impose fines;

● confiscate any income that they deem to be obtained through illegal operations, or impose other requirements with which the Group may not be able to comply;

● discontinue or place restrictions or onerous conditions on the Group’s operations;

● place restrictions on the right to collect revenues;

● require the Group to restructure ownership structure or operations, including terminating the contractual agreements with the VIEs and deregistering the equity pledges of the VIEs, which in turn would affect the ability to consolidate the financial results of and derive economic interests from the VIEs and their subsidiaries;

● restrict or prohibit the use of the proceeds from financing activities to finance the business and operations of the VIEs and their subsidiaries; or

● take other regulatory or enforcement actions that could be harmful to the Group’s business.

The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIEs or the right to receive its economic benefits, the Group would no longer be able to consolidate the VIEs. The management believes that the likelihood for the Group to lose such ability is remote based on current facts and circumstances. However, the interpretation and implementation of the laws and regulations in the PRC and their application to an effect on the legality, binding effect and enforceability of contracts are subject to the discretion of competent PRC authorities, and therefore there is no assurance that relevant PRC authorities will take the same position as the Group herein in respect of the legality, binding effect and enforceability of each of the contractual arrangements. Meanwhile, since the PRC legal system continues to rapidly evolve, it may lead to changes in PRC laws, regulations and policies or in the interpretation and application of existing laws, regulations and policies, which may limit legal protections available to the Group to enforce the contractual arrangements should the VIEs or the Nominee Shareholders of the VIEs fail to perform their obligations under those arrangements. The enforceability, and therefore the benefits, of the contractual agreements between the Company and the VIEs depend on Nominee Shareholders enforcing the contracts. There is a risk that Nominee shareholders of VIEs, who in some cases are also shareholders of the Company may have conflict of interests with the Company in the future or fail to perform their contractual obligations. Given the significance and importance of the VIEs, there would be a significant negative impact to the Company if these contracts were not enforced.

The Group’s operations depend on the VIEs to honor their contractual agreements with the Group. The Company’s ability to direct activities of the VIEs that most significantly impact their economic performance and the Company’s right to receive the economic benefits that could potentially be significant to the VIEs depend on the authorization by the shareholders of the VIEs to exercise voting rights on all matters requiring shareholder approval in the VIEs. The Company believes that the agreements on authorization to exercise shareholder’s voting power are enforceable against each party thereto in accordance with their terms and applicable PRC laws or regulations currently in effect and the possibility that it will no longer be able to consolidate the VIEs as a result of the aforementioned risks and uncertainties is remote.

c. Summary of financial information of the Group’s VIEs (inclusive of VIE’s subsidiaries)

The following tables set forth the financial statement balances and amounts of the VIEs and their subsidiaries included in the condensed financial statements after the elimination of intercompany balances and transactions among VIEs and their subsidiaries within the Group.

The consolidated financial statements of the Group’s VIEs have been audited by filing the Form 10-K for the year ended May 31, 2023.

11

		August 31, 2023				May 31, 2023 (Audited)
			$				$
Cash and cash equivalents			251,540				401,984
Restricted cash			12,171				10,273
Accounts receivable			457,057				409,380
Inventories			208,397				177,034
Prepaid expenses and other current assets			2,409,183				2,045,736
Plant and equipment, net			6,195,788				6,581,823
Intangible assets, net			14,734				15,543
Right-of-use assets			240,442				277,184
Other non-current assets			2,713,917				2,884,090
Total Assets			12,503,229				12,803,047
Accounts payables			765,439				749,226
Advances from customers			3,157,940				622,069
Other current payables			1,501,194				1,300,969
Taxes payable			34,638				18,737
Amounts due to related parties			516,657				540,897
Operating lease liabilities, current			128,548				126,659
Long-term loan			30,215,181				32,740,623
Operating lease liabilities, non-current			100,827				121,555
Total Liabilities			36,420,424				36,220,735
Total (Deficit) Equity of VIEs			(23,917,195	)			(23,417,688	)
Total Liabilities and (Deficit) Equity of VIEs			12,503,229				12,803,047

			Three Months Ended August 31, 2023				Three Months Ended August 31, 2022
			$				$
Net revenues			401,904				796,377
Cost of revenues			(623,408)				(1,196,709)
Gross loss			(221,504)				(400,332)
Total costs and expenses			(764,335)				(1,779,342)
Operating loss			(985,839)				(2,179,674)
Total other income and (expenses)			349				(63,541)
Loss before taxes from operations			(985,490)				(2,243,215)
Provision for income taxes			-				-
Net loss			(985,490)				(2,243,215)
Net loss attributable to VIEs			(946,460)				(2,226,135)

		2023				2022
		Three Months Ended August 31,
		2023				2022
Net cash provided by/(used in) operating activities			1,703,742				(1,229,376	)
Net cash provided by/(used in) investing activities			40,121				(680,934	)
Net cash (used in)/provided by financing activities			(1,885,114	)			1,883,960
Effect of exchange rate changes on cash and cash equivalents			(7,295	)			(3,052	)
Net decrease in cash and cash equivalents			(148,546	)			(29,402	)
Cash and cash equivalents at the beginning of period			412,257				108,787
Cash and cash equivalents at the end of period			263,711				79,385

12

3. Summary of Significant Accounting Policies

The Company’s significant accounting policies have not changed from the year ended May 31, 2023.

The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United Statements of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2023, as filed with the SEC on October 2, 2023. Operating results for the three months ended August 31, 2023 are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending May 31, 2024.

Going Concern

The Company incurred net loss of $1,532,055 during the three months ended August 31, 2023. As of August 31, 2023, the Company had total deficit of $24,933,717 and net cash provided by operating activities of $1,143,177. The Company incurred net loss of $6,783,522 during the year ended May 31, 2023. As of May 31, 2023, the Company had total deficit of $23,887,645 and had net cash provided by operating activities of $102,130.

The ability to continue as a going concern is dependent upon long-term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on long term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet obligations as they become due and to obtain additional equity or alternative financing required to fund operations until sufficient sources of recurring revenues can be generated. There can be no assurance that the Company will be successful in its plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Foreign currency translation

The accompanying financial statements are presented in United States dollars. The functional currencies of the Company are in Renminbi (RMB). The Company’s assets and liabilities are translated into United States dollars from RMB at year-end exchange rates, and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

			08312023				05312023				08312022
Period/Year end RMB: US$ exchange rate			7.2582				7.1100				6.8924
Annual average RMB: US$ exchange rate			7.2005				6.9185				6.7410

The RMB is not freely convertible into foreign currencies and all foreign exchange transactions must be conducted through authorized financial institutions.

Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

13

4. Trade Receivables

The Company does not provide any credit terms to its customers for smart parking. Cash will be collected by the exit of parking lots. The Company provides one to three months credits term for customers purchasing parking equipment.

5. Prepaid Expenses and Other Current Assets

		August 31, 2023				May 31, 2023
Prepayment			844,949				591,277
Prepayment for rental (a)			427,103				438,256
Deposit			375,976				366,478
Loan receivable (b)			331,747				342,882
Advances to employees			68,822				125,508
Other			152,870				157,164
VAT			183,584				39
Total			2,385,051				2,021,604

(a)	Prepayment for rental included a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.

(b)	Loan receivables are loans borrow to third parties. All loans are interest free and will be repaid on demand.

6. Property and Equipment

Schedule of Property and Equipment

		Furniture, fixtures and office equipment				Building (a)				Vehicles				Project Facilities				Construction in progress (b)				Total
Cost
At May 31,2023			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Beginning balance, cost			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Additions during the year			10,379				-				1,944				40,359				47,807				100,489
Disposals during the year			(16,002	)			-				-				(10,613	)			(149,384	)			(175,999	)
Effects of currency translation			(19,603	)			(90,597	)			(2,531	)			(62,301	)			(19,055	)			(194,087	)
At August 31,2023			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327
Ending balance, cost			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327

Accumulated depreciation
At May 31,2023			902,974				579,952				106,927				1,363,248				-				2,953,101
Beginning balance, Accumulated depreciation			902,974				579,952				106,927				1,363,248				-				2,953,101
Depreciation during the year			39,554				52,028				3,084				104,995				-				199,661
Disposals during the year			(15,202	)			-				-				(6,306	)			-				(21,508	)
Effects of currency translation			(18,631	)			(24,541	)			(2,208	)			(16,335	)			-				(61,715	)
At August 31,2023			908,695				607,439				107,803				1,445,602				-				3,069,539
Ending balance, Accumulated depreciation			908,695				607,439				107,803				1,445,602				-				3,069,539

Net book value
At May 31,2023			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
Beginning balance, Net book value			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
At August 31,2023			28,350				3,739,029				14,822				1,561,489				852098				6,195,788
Ending balance, Net book value			28,350				3,739,029				14,822				1,561,489				852098				6,195,788

14

(a)	Address of the building is Building B8, China Zhigu Fuchun, Yinhu Village, Shoujiang town, Fuyang District, China

(b)	The Company has 6 constructions in progress in total. 5 constructions, related to parking lots, are expected to be completed in one year. Upon completion, these constructions will be transferred to project facilities. The remaining one construction does not yet have an estimate time of completion.

7. Intangible Assets

Schedule of Intangible Assets

Cost
At May 31,2023			28,529
Beginning balance, cost			28,529
Additions during the period			-
Disposals during the period			-
Effects of currency translation			(583	)
At August 31,2023			27,946
Ending balance, cost			27,946
Accumulated depreciation
At May 31,2023			12,986
Beginning balance, Accumulated depreciation			12,986
Depreciation during the period			495
Disposals during the period			-
Effects of currency translation			(269	)
At August 31,2023			13,212
Ending balance, Accumulated depreciation			13,212
Net book value
At May 31,2023			15,543
At August 31,2023			14,734

8. Right-of-use Assets

Schedule of Right of Use Assets

		$
Cost
At May 31, 2023			2,118,650
Additions during the period			-
Write-off during the period			-
Effects of currency translation			(43,259)
At August 31, 2023			2,075,391

Accumulated depreciation
At May 31,2023			1,841,466
Depreciation during the period			31,331
Write-off during the period			-
Effects of currency translation			(37,848)
At August 31, 2023			1,834,949

Net book value
At May 31, 2023			277,184
At August 31, 2023			240,442

Right of use assets consisted of 16 contracts renting offices, warehouses and parking lots. Contracted terms ranged between two and eight years with the earliest start date being January 8, 2019.

15

9. Other non-current assets

Other non-current assets mainly consisted of a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.

10. Other payables and Accruals

Schedule of Other Payable and Accruals

		August 31, 2023				May 31, 2023
			$				$
Accrued payroll and welfare payables			462,164				338,657
Deposit			26,904				27,194
Loans payable			337,550				344,585
Other (a)			675,231				591,188
Total			1,501,849				1,301,624

(a)	Other mainly included collection of parking fees on behalf of a third party.

11. Related Party Transactions

(a) The Company had the following balances due to and due from related parties:

At August 31, 2023 and May 31, 2023, the Company owned funds from the following related parties:

Schedule of Related Party Transactions

		August 31, 2023				May 31, 2023				Relationship

Intellegence Triumph Holdings Limited			5,000				5,000			Former shareholder
Virtue Victory Holdings Limited			5,200				5,200			Former shareholder
Strength Union Holdings Limited			5,800				5,800			Former shareholder
Due from related party

At August 31, 2023 and May 31, 2023, the Company owed funds to the following related parties:

		August 31, 2023				May 31.2023				Relationship

Guowei Zhang			1,529,244				1,056,221			President of the Company
Xinxin Chen			1,500				1,500			Former shareholder
Shaoxing Keqiao Zhuyi Technology Co., Ltd			30,215,181				32,740,623			An entity controlled by a shareholder

Advances from Guowei Zhang were unsecured, non-interest bearing and due on demand.

During the three months ended August 31, 2023, the Company borrowed from related parties of $498,266 and made repayments to related parties of $14,305. During the year ended May 31, 2023, the Company borrowed from related parties of $713,753 and made repayments to related parties of $16,552.

16

As of May 31, 2022, the outstanding balance of long-term loans was RMB 221,267,008.77 (USD$33,211,152). It consisted of two loans related to Beijing Zhibo Innovation Technology Co., Ltd (“Zhibo”). The Company entered into a three year loan on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD $45,028,818) with an interest rate of 3.6%. 25% of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The other contract was a two-year interest-free agreement signed on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$3,302,098). As of May 31, 2022, outstanding balances of the first and second loans were RMB 201,909,728.77 (USD$30,305,855) and RMB 19,357,280 (USD$2,905,297), respectively.

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.

Due to business restructure, Zhibo was deregistered at the beginning of 2023. Before deregistration, on January 15, 2023, Zhibo transferred the debts to a number of companies/partnerships with the clauses unchanged. The table below set forth the amount transferred to each Zhibo’s creditor as of January 15, 2023.

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

For helping the Company consolidate debts and providing financial support to the Company, Shaoxin Keqiao Zhuyi Technology Co., Ltd., whose sole shareholder is Xiujuan Chen, took over the debts from the businesses mentioned in the table. Loan transfer agreements were executed on March 16 and 17, 2023 with the original clauses unchanged. Xiujuan Chen is also one of the shareholders of the Company. After the loans transferred to Shaoxin Keqiao Zhuyi Technology Co., Ltd., outstanding balances were offset in part or in full if the transferees were our current debtors.

17

The below table shows the movements of loans before the transfers and the final amounts being transferred.

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

During the three months ended August 31, 2023, the Company did not borrow extra funds from and made repayments of RMB 13,478,000 ($1,871,812) to Shaoxin Keqiao Zhuyi Technology Co., Ltd..

18

12. Income Taxes

PRC

The Company’s subsidiaries incorporated in the PRC are subject to a profits tax rate of 25% for income generated and operation in the country.

The full realization of the tax benefit associated with the carry forward losses depends predominantly upon the Company’s ability to generate taxable income during the carry forward period.

Income tax expense (benefits)

		August 31, 2023				August 31, 2022
		$				$
Loss before tax			(1,532,055	)			(2,257,141	)
Tax credit calculated at statutory tax rate			(383,014	)			(564,285	)
Effect of different tax rates			21,863				557
Deferred tax asset not recognized during the period/year			361,151				563,728
Income tax expenses			-				-

The Company accounts for income taxes using the asset/liability method prescribed by ASC 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profits will be available against which the Company can utilise the benefits.

Management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets.

13. Long-term Borrowings

As of May 31, 2022, the outstanding balance of long-term loans was RMB 221,267,008.77 (USD$33,211,152). It consisted of two loans related to Beijing Zhibo Innovation Technology Co., Ltd (“Zhibo”). The Company entered into a three year loan on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD $45,028,818) with an interest rate of 3.6%. 25% of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The other contract was a two-year interest-free agreement signed on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$3,302,098). As of May 31, 2022, outstanding balances of the first and second loans were RMB 201,909,728.77 (USD$30,305,855) and RMB 19,357,280 (USD$2,905,297), respectively.

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.

Due to business restructure, Zhibo was deregistered at the beginning of 2023. Before deregistration, on January 15, 2023, Zhibo transferred the debts to a number of companies/partnerships with the clauses unchanged. The table below set forth the amount transferred to each Zhibo’s creditor as of January 15, 2023.

19

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

For helping the Company consolidate debts and providing financial support to the Company, Shaoxin Keqiao Zhuyi Technology Co., Ltd., whose sole shareholder is Xiujuan Chen, took over the debts from the businesses mentioned in the table. Loan transfer agreements were executed on March 16 and 17, 2023 with the original clauses unchanged. Xiujuan Chen is also one of the shareholders of the Company. After the loans transferred to Shaoxin Keqiao Zhuyi Technology Co., Ltd., outstanding balances were offset in part or in full if the transferees were our current debtors.

The below table shows the movements of loans before the transfers and the final amounts being transferred.

20

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

During the three months ended August 31, 2023, the Company did not borrow extra funds from and made repayments of RMB 13,478,000 ($1,871,812) to Shaoxin Keqiao Zhuyi Technology Co., Ltd..

21

14. Leases

Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company entered into 16 agreements for renting offices, warehouses and parking lots. As of August 31, 2023, the Company has $240,442 of right-of-use assets, $128,548 in current operating lease liabilities and $100,827 in non-current operating lease liabilities.

Significant assumptions and judgments made as part of the adoption of this new lease standard include determining (i) whether a contract contains a lease, (ii) whether a contract involves an identified asset, and (iii) which party to the contract directs the use of the asset. The discount rates used to calculate the present value of lease payments were determined based on hypothetical borrowing rates available to the Company over terms similar to the lease terms.

The Company’s future minimum payments under long-term non-cancellable operating leases are as follows:

		As of August 31, 2023				As of May 31, 2023
			$				$
Within 1 year			136,659				136,710
After 1 year but within 5 years			105,791				127,793
Total lease payments			242,450				264,503

Less: imputed interest			(13,075	)			(16,289	)
Total lease obligations			229,375				248,214
Less: current obligations			(128,548	)			(126,659	)
Long-term lease obligations			100,827				121,555

15. Non-controlling interests (NCI)

Non-controlling interests (“NCI”) represent the portion of net assets in consolidated entities that are not owned by the Company.

The following table represent the non-controlling ownership interests and non-controlling interest balances reported in stockholder’s equity as of August 31, 2023 and May 31, 2023 respectively.

22

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
NCI ownership interest			33	%			33	%			20	%			20	%			33	%			33	%			28	%			28	%			10	%			10	%
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

The summarized financial information for subsidiary that has non-controlling interest which are material to the Company is provided below. This information is based on amounts before inter-company elimination.

Summarized statement of financial position as at

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Non-current assets			350,376				391,073				-				-				44,911				49,521				138,062				153,693				-				-				533,349				594,287
Current assets			99,175				102,279				1,579				1,617				9,082				9,276				22,809				23,567				1				1				132,646				136,740
Current liabilities			(796,425	)			(748,450	)			(57,025	)			(86,863	)			(249,109	)			(238,248	)			(103,226	)			(91,047	)			-				-				(1,205,785	)			(1,164,608	)
Non-current liabilities			(59,536	)			(60,039	)			-				-				-				-				-				(6,551	)			-				-				(59,536	)			(66,590	)
Net assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Net Assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)
Less: Zhuyi capital and additional paid-in capital			(2,101,929	)			(2,101,930	)			-				-				-				-				(310,895	)			(310,895	)			(16,551	)			(16,551	)			(2,429,375	)			(2,429,376	)
Less: OCI			(108,039	)			(100,820	)			(8,771	)			(7,255	)			(11,300	)			(7,482	)			(2,126	)			(3,589	)			646				646				(129,590	)			(118,500	)
Accumulated Deficits			(2,616,378	)			(2,517,887	)			(64,217	)			(92,501	)			(206,416	)			(186,933	)			(255,376	)			(234,822	)			(15,904	)			(15,904	)			(3,158,291	)			(3,048,047	)
Accumulated Deficits attributable to NCI			(863,405	)			(830,903	)			(12,843	)			(18,500	)			(68,117	)			(61,688	)			(71,505	)			(65,750	)			(1,590	)			(1,590	)			(1,017,460	)			(978,431	)
Plus: OCI attributable to NCI			(33,896	)			(33,271	)			(1,755	)			(1,451	)			(3,729	)			(2,469	)			(596	)			(1,005	)			64				64				(39,912	)			(38,132	)
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

23

16. Reserves

Statutory reserve

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. These reserves can only be used for specific purposes of enterprise expansion and are not distributable as cash dividends. During the three months ended August 31, 2023 and the year ended May 31, 2023, the Company did not accrue any statutory reserve.

Foreign currency translation reserve

The foreign currency translation reserve represents translation differences arising from translation of foreign currency financial statements into the Company’s reporting currency.

17. Quantitative and Qualitative Disclosure about Market Risks

	A.	Credit risk

		The Company’s deposits are with banks located in the PRC. They do not carry federal deposit insurance and may be subject to loss if the banks become insolvent.
		Accounts receivable are typically unsecured and are derived from revenues earned from customers in the PRC. The credit risk with respect to account receivables is mitigated by credit control policies we carry out with respect to our customers and our ongoing monitoring process of outstanding balances.

	B.	Economic and political risks

		The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by changes in the political, economic, and legal environments in the PRC.

		The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things.

	C.	Interest risk

		The Company is subject to interest rate risk when long term loans become due and require refinancing.

	D.	Sensitivity analysis

		The long-term loans are free of interest for the first 32 months however if interest were to charge at an annual rate of 3.64%, interest expense would be $1.1 million per year. The Company adopts 3.64% as an annual interest rate based on the China LPR announced on October 20, 2023 with an adjustment to loan terms. If interest rate increases or decreases by 10%, it could lead to an increase or decrease in interest expense of $109,983 per year.

18. Subsequent Events

The Company has performed an evaluation of subsequent events through November 3, 2023, which was the date of the issuance of the consolidated financial statements, and determined that no events would have required adjustment or disclosure in the consolidated financial statements other than that discussed above.

24

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward looking statement notice

This section of this Form 10-Q includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.

Special Note Regarding Forward Looking Statements

In addition to historical information, this report contains forward-looking statements. We use words such as “believe,” “expect,” “anticipate,” “project,” “target,” “plan,” “optimistic,” “intend,” “aim,” “will” or similar expressions which are intended to identify forward-looking statements. Forward-looking statements speak only as of the date they are made, are based on various underlying assumptions and current expectations about the future. Accordingly, such information should not be regarded as representations that the results or conditions described in such statements or that our objectives and plans will be achieved and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements.

Readers are urged to carefully review and consider the various disclosures made by us in this report and our other filings with the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this report speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

Overview

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.

25

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 32,500,000 shares of common stock, representing 68.4% ownership of the Company.

On March 19, 2018 New Reap Global transferred 250,000 restricted shares to Eng Wah Kung.

On May 10, 2018 and May 30, 2018, 16,959,684 were transferred to Arden Wealth and Trust. 2,000,000 shares are free trading from HongLing Shang, 559,684 restricted shares from New Reap Global, LTD and 2,400,000 each from Xuedong Zhang, Jingmei Jiang, Qianxian, Yulan Qi, Baoxin Song, Jianlong Wu.

On June 15, 2018 New Reap Global transferred 690,316 restricted shares to EMRD Global Holdings.

On June 26, 2018 New Reap Global transferred 3,000,000 restricted shares to FORTRESS ADVISORS, LLC and 3,000,000 to Baywall Inc.

On November 10, 2020, ten (10) shareholders of the Company, including affiliates Arden Wealth & 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 42,440,316 shares of common stock of the “Company, which represents approximately 68.6% of the issued and outstanding shares of common stock of the Company.

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 25,095,788 shares of common stock of the Company, which represents approximately 40.54% of the issued and outstanding shares of common stock of the Company, for consideration of $250,958.

The Purchase Agreements were fully executed and delivered on June 8, 2022. Zhang Yiping and Chen Xinxin acquired approximately 24.54% and 6.46% of the issued and outstanding shares of the Company, respectively, and the remaining purchasers each acquired less than 4.99% 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.

Purchasers		Shares acquired				%
Zhang Yiping			15,189,500				24.54	%
Chen Xinxin			4,000,000				6.46	%
Wang Yanfang			2,000,000				3.23	%
Liu Chen			2,000,000				3.23	%
Liu Ying			1,906,288				3.08	%

On December 15, 2022, Savmobi Technology, Inc. (“SVMB,”) 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 (100%) of the ownership interest of Intellegence was exchanged for 1,000,000,000 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.

Immediately after completion of such share exchange, SVMB will hold a total of 200,000,000 issued and outstanding shares of Intellegence. Zhang Guowei is the sole director of Intellegence Parking Group Limited.

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.

26

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.

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.

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.

Pursuant to the Business Operation Agreement entered into among Huixin WFOE and Zhejiang Jingbo Ecological Technology Co. 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.

Zhejiang Jingbo Ecological Technology Co. is a PRC company which was formed on December 18, 2019 and is engaged in the business of smart parking application software and platform operations business. Zhang Guowei has been the Chairman of Zhejiang Jingbo Ecological Technology Co. since December 2019.

Hangzhou Zhuyi Technology Co. (“Hangzhou Zhuyi”) was incorporated under the laws of the PRC on November 13, 2017 with a capital of RMB 60,000,000. The majority shareholder at the time of establishment was Guowei Zhang. On April 1, 2020, Zhejiang Jingbo Ecological Technology became the sole shareholder of Hangzhou Zhuyi. Hangzhou Zhuyi is specialized in smart parking projects, smart parking mobile applications and cloud platform construction innovation.

Zhejiang Linglingyi Network Technology Co. (“Linglingyi”) was incorporated on November 17, 2018. Its sole director is Guowei Zhang. Hangzhou Zhuyi acquired 100% of Linglingyi on April 29. 2022. Its main businesses are smart parking projects and smart parking mobile applications.

Liangshan Tongfu Technology Co. (“Liangshan”) was incorporated on November 13, 2018. On September 29, 2022, Hangzhou Zhuyi entered in a share agreement with Hangzhou Kaai Technology Co. to purchase 26% of Liangshan’s shares. As a result, Hangzhou Zhuyi holds 67% of Liangshan. Liangshan is into smart parking projects and smart parking mobile applications businesses.

Zhuyi Technology (Anping) Co. (“Anping”) was incorporated on May 12, 2022, which is 90% owned by Hangzhou Zhuyi and it mainly focuses on smart parking projects and smart parking mobile applications.

Haikou Zhuyi Technology Co. (“Haikou”) was incorporated on May 9, 2022 which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Yibin Huibo Technology Co. (“Yibin”) was incorporated on July 4, 2019, which is 80% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Xide Zhuyi Technology Co. (“Xide”) was incorporated on October 14, 2021, which is 67% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Hubei Tongpo Parking Management Co. (“Tongpo”) was incorporated on November 4, 2020, which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

27

Zhuyi Technology (Taining) Co. (“Taining”) was incorporated on May 18, 2021, which is 72% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Intellengence Parking Group Limited provides smart parking projects, smart parking mobile applications and cloud platform construction innovation through its consolidated subsidiaries, variable interest entities (“VIE”s) and VIE’s subsidiaries.

Corporate Structure

Result of Operations

For the three months ended August 31, 2023 and 2022

Revenue

The Company generated $401,904 for the three months ended August 31, 2023 compared to $796,377 for the three months ended August 31, 2022. Revenue mainly comprised of parking fee and sales of parking equipment. The decrease in revenue for the three months ended August 31, 2023 was mainly due to a decline in parking fee revenue as we were unable to renew some of our contracts with landlords.

Cost of Revenues

During the three months ended August 31, 2023, the Company incurred $623,408 in cost of revenue compared to $1,196,709 during the three months ended August 31, 2022. Cost of revenues mainly consisted of rent, depreciation and salary expenses. The decrease in costs of revenues was primarily contributed by a decrease in depreciation and salary expenses.

28

Gross loss

Gross loss was $221,504 for the three months ended August 31, 2023 compared to $400,332 for the three months ended August 31, 2022. The decrease in gross loss for the three months ended August 31, 2023 was due to the significant decrease in cost of revenues.

Selling and marketing expenses

During the three months ended August 31, 2023, we incurred selling and marketing expenses of $98,485 compared to $183,449 during the three months ended August 31, 2022. Selling and marketing expenses mainly included salary expenses, business hospitality expenses and advertisement expenses. The decrease in selling and marketing expenses was primarily caused by a decrease in salary expenses and travelling expenses.

General and administrative expenses

During the three months ended August 31, 2023, we incurred general and administrative expenses of $1,076,097 compared to $1,603,136 during the three months ended August 31, 2022. General and administrative expenses mainly consisted of salary expenses, business hospitality expenses and professional fees. The decrease in general and administrative expenses was mainly contributed by a decrease in the main expenses mentioned previously.

Research and development expenses

During the three months ended August 31, 2023, we incurred research and development expenses of $97,906 compared to $6,521 for the three months ended August 31, 2022. R&D expenses mainly comprised of salary expenses. The increase in R&D expenses was primarily due to an increase in salary expenses.

Net loss

As a result of foregoing, the net loss for the three months ended August 31, 2023 and 2022 was $1,532,055 and $2,257,141, respectively.

Capital Resources and Liquidity

Working capital		August 31, 2023				May 31, 2023
Total current assets		$	3,348,635			$	3,117,996
Total current liabilities			7,131,225				3,902,103
Working capital deficit		$	(3,782,590	)		$	(784,107	)

Total deficit for the three months ended August 31, 2023 was $3,782,590 compared to $784,107 for the year ended May 31, 2023. To date, we have financed our operations primarily from long-term loans.

Three months ended August 31, 2023 and 2022

		Three Months Ended August 31,
		2023				2022
Net cash provided by/(used in) operating activities		$	1,143,177			$	(1,247,449	)
Net cash provided by/(used in) investing activities			40,121				(682,877	)
Net cash (used in)provided by financing activities			(1,387,851	)			1,902,033
Effect of exchange rate changes on cash and cash equivalents			(7,295	)			(1,109	)
Net decrease in cash and cash equivalents			(211,848	)			(29,402	)
Cash and cash equivalents at the beginning of period			493,978				108,787
Cash and cash equivalents at the end of period		$	282,130			$	79,385

29

Cash Provided by/(Used in) Operating Activities

For the three months ended August 31, 2023, net cash provided by operating activities was $1,143,177, primarily consisting of a net loss of $1,532,055, an increase in prepaid expenses and other current assets of $444,574 and an increase in accounts payable of $2,831,776, compared to net cash used in operating activities of $1,247,449 for the three months ended August 31, 2022, mainly comprised of a net loss of $2,257,141 and depreciation and amortization expense of $503,201 and a decrease in prepaid expenses and other current assets of $218,849.

Cash Provided by/(Used in) Investing Activities

For the three month periods ended August 31, 2023, net cash provided by investing activities was $40,121 mainly including proceeds from sale of property and equipment of $154,491 and a purchase of property and equipment of $100,489, compared to net cash used in investing activities was $682,877 for the three months ended August 31, 2022, mainly consisted of a purchase of property and equipment of $716,112.

Cash (Used in)/Provided by Financing Activities

For the three months ended August 31, 2023, net cash used in financing activities was $1,387,851 mainly comprising repayments of long-term loans. Net cash provided by financing activities was $1,902,033 for the three months ended August 31, 2022, consisting of advanced from related parties and long term loans.

Going Concern Consideration

The ability to continue as a going concern is dependent upon long-term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on long term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet obligations as they become due and to obtain additional equity or alternative financing required to fund operations until sufficient sources of recurring revenues can be generated. There can be no assurance that the Company will be successful in its plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Off-balance sheet arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

Critical Accounting Policies and Estimates

We prepare our financial statements in conformity with U.S. GAAP, which requires management to make certain estimates and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the condensed financial statements are prepared. On a regular basis, we review our accounting policies and how they are applied and disclosed in our condensed financial statements.

While we believe that the historical experience, current trends and other factors considered support the preparation of our financial statements in conformity with U.S. GAAP actual results could differ from our estimates and such differences could be material

30

Foreign Currency Exchange Rates

We are not materially affected by foreign currency exchange rates. However, it is difficult to predict how market forces, or PRC or U.S. government policy, might affect our operations. There remains significant international pressure on the PRC government to adopt a substantial liberalization of its currency policy, which could result in a further and more significant change in the value of the RMB against the U.S. dollar. Limited hedging transactions are available in China to reduce our exposure to exchange rate fluctuations. So far, we have not entered into any hedging transactions in an effort to reduce our exposure to foreign currency exchange risk. While we potentially may decide to enter into hedging transactions in the future, the availability and effectiveness of these hedging transactions may be limited, and we may not be able to successfully hedge our exposure at all. Furthermore, our currency exchange losses may be magnified by PRC exchange control regulations that restrict our ability to convert RMB into foreign currency.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We are required to maintain “disclosure controls and procedures” as such term is defined in Rule 13a- 15(e) under the Securities Exchange Act of 1934. In designing and evaluating our disclosure controls and procedures, our management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Based on their evaluation as of the end of the period covered by this report, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective such that the information relating to our company, required to be disclosed in our Securities and Exchange Commission reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and (ii) is accumulated and communicated to our management, to allow timely decisions regarding required disclosure as a result of continuing weaknesses in our internal control over financial reporting.

As disclosed in our Annual Report on Form 10-K for the year ended May 31, 2023, based on management’s assessment of the effectiveness of our internal controls over financial reporting, management concluded that our internal controls over financial reporting were not effective as of August 31, 2023, due to: ( 1) lack of a functioning audit committee and lack of a majority of outside directors on the Company’s board of director; (2) inadequate segregation of duties consistent with control objectives; (3) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure requirements; and (4) ineffective controls over period end financial disclosure and reporting processes. Management believes the above weakness constitute material weaknesses in our internal control over financial reporting. Until such time, if ever, that we remediate the material weakness in our internal control over financial reporting we expect that the material weaknesses in our disclosure controls and procedures will continue.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting (as defined in Rule 13a- 15(f) or 15d- 15(f)) during the period covered by this report, that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

31

PART II—OTHER INFORMATION

Item 1. Legal Proceedings.

Currently we are not involved in any pending litigation or legal proceeding.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 2. Unregistered Sales of Securities and Use of Proceeds.

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

None

Item 5. Other Information.

None

Item 6. Exhibits.

31.1	Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer
31.2	Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer
32.1	Section 1350 Certification of Chief Executive Officer
32.2	Section 1350 Certification of Chief Financial Officer
101	Interactive data files pursuant to Rule 405 of Regulation S-T.
101.INS	Inline XBRL Instance Document
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

32

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SavMobi Technology Inc.
	(Registrant)

Date: November 3, 2023	By:	/s/ Zhang Guowei
		Zhang Guowei
		Chief Executive Officer
		Chief Financial Officer

33

EXHIBIT 31.1

CERTIFICATIONS

I, Zhang Guowei, certify that:

1.	I have reviewed this quarterly report of SavMobi Technology Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d – 15(f)) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing equivalent functions):

	a)	All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and,

	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 3, 2023	By:	/s/ Zhang Guowei
		Zhang Guowei
		Chief Executive Officer

EXHIBIT 31.2

CERTIFICATIONS

I, Zhang Guowei, certify that:

1.	I have reviewed this quarterly report of SavMobi Technology Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d – 15(f)) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing equivalent functions):

	a)	All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and,

	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 3, 2023	By:	/s/ Zhang Guowei
		Zhang Guowei
		Chief Financial Officer

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the period ended August 31, 2023 of SavMobi Technology Inc., a Nevada corporation (the “Company”), as filed with the Securities and Exchange Commission on the date hereof (the “Transition Report”), I, Zhang Guowei, Chief Executive Officer of the Company certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended; and

2. The information contained in this Quarterly Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: November 3, 2023	By:	/s/ Zhang Guowei
		Zhang Guowei
		Chief Executive Officer

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the period ended August 31, 2023 of SavMobi Technology Inc., a Nevada corporation (the “Company”), as filed with the Securities and Exchange Commission on the date hereof (the “Transition Report”), I, Zhang Guowei, Chief Financial Officer of the Company certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended; and

2. The information contained in this Quarterly Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: November 3, 2023	By:	/s/ Zhang Guowei
		Zhang Guowei
		Chief Financial Officer

Cover - shares	3 Months Ended
Cover - shares	Aug. 31, 2023	Oct. 04, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--05-31
Entity File Number	333-206804
Entity Registrant Name	Savmobi Technology, Inc.
Entity Central Index Key	0001647822
Entity Tax Identification Number	47-3240707
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Building B8
Entity Address, Address Line Two	China Zhigu
Entity Address, Address Line Three	Yinhu Street, Fuyang District
Entity Address, City or Town	Hangzhou, Zhejiang
Entity Address, Country	CN
City Area Code	+86
Local Phone Number	57187197085
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,061,900,000

Condensed Consolidated Balance Sheets	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)
Current assets
Cash and cash equivalents	$ 269,959	$ 483,705
Restricted cash	12,171	10,273
Accounts receivable	457,057	409,380
Inventories	208,397	177,034
Amount due from related parties	16,000	16,000
Prepaid expenses and other current assets	2,385,051	2,021,604
Total current assets	3,348,635	3,117,996
Non-current assets
Plant and equipment, net	6,195,788	6,581,823
Intangible assets, net	14,734	15,543
Right-of-use assets	240,442	277,184
Other non-current assets	2,713,917	2,884,090
Total non-current assets	9,164,881	9,758,640
Total Assets	12,513,516	12,876,636
Current liabilities
Accounts payables	777,506	775,293
Advances from customers	3,157,940	622,069
Other current payables	1,501,849	1,301,624
Taxes payable	34,638	18,737
Amounts due to related parties	1,530,744	1,057,721
Operating lease liabilities, current	128,548	126,659
Total current liabilities	7,131,225	3,902,103
Non-current liabilities
Long-term loan	30,215,181	32,740,623
Operating lease liabilities	100,827	121,555
Total non-current liabilities	30,316,008	32,862,178
Total Liabilities	37,447,233	36,764,281
Stockholders’ (Deficit) Equity
Common stock ($0.001 par value, 10,000,000,000 shares authorized, 1,061,900,000 share issued and outstanding as of August 31, 2023 and May 31, 2023, respectively)	1,061,900	1,061,900
Additional paid-in capital	8,474,336	8,474,336
Accumulated deficit	(34,244,374)	(32,751,349)
Accumulated other comprehensive income	831,793	344,031
Non-controlling interest	(1,057,372)	(1,016,563)
Total (Deficit) Equity	(24,933,717)	(23,887,645)
Total Liabilities and (Deficit) Equity	$ 12,513,516	$ 12,876,636

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2023	May 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share		$ 0.001
Common Stock, Shares Authorized	10,000,000,000
Common Stock, Shares, Outstanding		1,061,900,000

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income Statement [Abstract]
Net revenues	$ 401,904	$ 796,377
Cost of revenues	(623,408)	(1,196,709)
Gross loss	(221,504)	(400,332)
Operating expenses:
Tax and surcharges	(2,303)	(162)
Selling and marketing expenses	(98,485)	(183,449)
General and administrative expenses	(1,076,097)	(1,603,136)
Research and development expenses	(97,906)	(6,521)
Impairment losses	(36,109)
Total operating expenses	(1,310,900)	(1,793,268)
Operating loss	(1,532,404)	(2,193,600)
Other income (expenses):
Interest income	158	104
Other income/(expense)	191	(63,645)
Total other income and (expenses)	349	(63,541)
Loss before taxes from operations	(1,532,055)	(2,257,141)
Provision for income taxes
Net loss	(1,532,055)	(2,257,141)
Other comprehensive income:
Foreign currency translation income	485,983	663,592
Total Comprehensive Loss	(1,046,072)	(1,593,549)
Net loss attributable to :
Owners of the Company	(1,493,025)	(2,240,061)
Non-controlling interest	(39,030)	(17,080)
Net Loss	(1,532,055)	(2,257,141)
Total comprehensive loss attributable to :
Owners of the Company	(1,005,263)	(1,584,594)
Non-controlling interest	$ (40,809)	$ (8,955)
Loss per common share:
Earnings per share, basic	$ (0.00)	$ (0.04)
Earnings per share, diluted	$ (0.00)	$ (0.04)
Weighted average number of shares outstanding, basic	1,061,900,000	61,900,000
Weighted average number of shares outstanding, diluted	1,061,900,000	61,900,000

Condense Consolidated Statements of Stockholders' Equity (deficit) (Unaudited) - USD ($)	Common Stock [Member]	Contributed Capital [Member]	Additional Paid-in Capital [Member]	Comprehensive Income [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at May. 31, 2022	$ 61,900	$ 9,474,336	$ (26,355,961)	$ (987,312)	$ (17,807,037)	$ (626,651)	$ (18,433,688)
Balance, shares at May. 31, 2022	61,900,000
Net loss			(2,240,061)		(2,240,061)	(17,080)	(2,257,141)
Foreign currency translation adjustments				655,467	655,467	8,125	663,592
Balance at Aug. 31, 2022	$ 61,900	9,474,336	(28,596,022)	(331,845)	(19,391,631)	(635,606)	(20,027,237)
Balance, shares at Aug. 31, 2022	61,900,000
Balance at May. 31, 2023	$ 1,061,900	8,474,336	(32,751,349)	344,031	(22,871,082)	(1,016,563)	(23,887,645)
Balance, shares at May. 31, 2023	1,061,900.000
Net loss			(1,493,025)		(1,493,025)	(39,030)	(1,532,055)
Foreign currency translation adjustments				487,762	487,762	(1,779)	485,983
Balance at Aug. 31, 2023	$ 1,061,900	$ 8,474,336	$ (34,244,374)	$ 831,793	$ (23,876,345)	$ (1,057,372)	$ (24,933,717)
Balance, shares at Aug. 31, 2023	1,061,900.000

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Statement of Cash Flows [Abstract]
Net loss	$ (1,532,055)	$ (2,257,141)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	200,156	327,944
Depreciation of right-of-use assets	31,331	175,257
Bad debt expense	36,109
Changes in operating assets and liabilities
Accounts receivable	(56,485)	(37,753)
Inventories	(35,258)	(14,160)
Prepaid expenses and other current assets	(444,574)	218,849
Other non-current assets	112,177	224,958
Accounts payable and other current liabilities	2,831,776	114,597
Net cash provided by/(used in) operating activities	1,143,177	(1,247,449)
Cash flows from investing activities
Repaid for right-of-use assets	(13,881)	(23,181)
Proceeds from sale of property and equipment	154,491	56,416
Purchase of property and equipment	(100,489)	(716,112)
Net cash (used in)/provided by investing activities	40,121	(682,877)
Cash flows from financing activities
Amount due to related party	483,961	55,938
Proceeds from long-term borrowings		1,846,095
Repayments of long-term borrowings	(1,871,812)
Net cash (used in)/provided by financing activities	(1,387,851)	1,902,033
Effect of exchange rate changes on cash and cash equivalents	(7,295)	(1,109)
Net increase/(decrease) of cash and cash equivalents	(211,848)	(29,402)
Cash and cash equivalents–beginning of year	493,978	108,787
Cash and cash equivalents–end of year	282,130	79,385
Supplementary cash flow information:
Interest received	$ 158	$ 104

Organization and Principal Activities

3 Months Ended

Aug. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Principal Activities

1. Organization and Principal Activities

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.

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 32,500,000 shares of common stock, representing 68.4% ownership of the Company.

On March 19, 2018 New Reap Global transferred 250,000 restricted shares to Eng Wah Kung.

On May 10, 2018 and May 30, 2018, 16,959,684 were transferred to Arden Wealth and Trust. 2,000,000 shares are free trading from HongLing Shang, 559,684 restricted shares from New Reap Global, LTD and 2,400,000 each from Xuedong Zhang, Jingmei Jiang, Qianxian, Yulan Qi, Baoxin Song, Jianlong Wu. On June 15, 2018 New Reap Global transferred 690,316 restricted shares to EMRD Global Holdings.

On June 26, 2018 New Reap Global transferred 3,000,000 restricted shares to FORTRESS ADVISORS, LLC and 3,000,000 to Baywall Inc.

On November 10, 2020, ten (10) shareholders of the Company, including affiliates Arden Wealth & 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 42,440,316 shares of common stock of the “Company, which represents approximately 68.6% of the issued and outstanding shares of common stock of the Company.

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 25,095,788 shares of common stock of the Company, which represents approximately 40.54% of the issued and outstanding shares of common stock of the Company, for consideration of $250,958.

The Purchase Agreements were fully executed and delivered on June 8, 2022. Zhang Yiping and Chen Xinxin acquired approximately 24.54% and 6.46% of the issued and outstanding shares of the Company, respectively, and the remaining purchasers each acquired less than 4.99% 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.

Schedule of Share Acquired by Purchases

Purchasers		Shares acquired				%
Zhang Yiping			15,189,500				24.54	%
Chen Xinxin			4,000,000				6.46	%
Wang Yanfang			2,000,000				3.23	%
Liu Chen			2,000,000				3.23	%
Liu Ying			1,906,288				3.08	%

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 (100%) of the ownership interest of Intellegence was exchanged for 1,000,000,000 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.

Immediately after completion of such share exchange, SVMB will hold a total of 200,000,000 issued and outstanding shares of Intellegence. Zhang Guowei is the sole director of Intellegence Parking Group Limited.

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.

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.

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.

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.

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.

The Company consolidated its financial statements due to common control.

The Company’s major subsidiaries, VIEs and VIE’s subsidiaries are described as follows:

Companies		Country/Place and date of incorporation/establishment		Percentage of direct or indirect economic benefits ownership August 31,
				2023				2022
Major Subsidiaries
Intellegence Parking Group Limited		Cayman June 29, 2022			100	%			100	%
Intellegence Parking (Hong Kong) Limited		Hong Kong July 20, 2022			100	%			100	%
Huixin Zhiying (Hangzhou) Technology Co.		PRC October 24, 2022			100	%			100	%

Major VIEs (Including VIE’s Subsidiaries)
Zhejiang Jingbo Ecological Technology Co.		PRC December 18, 2019			100	%			100	%
Hangzhou Zhuyi Technology Co.		PRC November 13, 2017			100	%			100	%

Variable Interest Entities

3 Months Ended

Aug. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

2. Variable Interest Entities

Pursuant to the Business Operation Agreement entered into among Huixin WFOE and Zhejiang Jingbo Ecological Technology Co., 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.

Zhejiang Jingbo Ecological Technology Co. is a PRC company which was formed on December 18, 2019 and is engaged in the business of smart parking application software and platform operations business. Zhang Guowei has been the Chairman of Zhejiang Jingbo Ecological Technology Co. since December 2019.

Hangzhou Zhuyi Technology Co. (“Hangzhou Zhuyi”) was incorporated under the laws of the PRC on November 13, 2017 with a capital of RMB 60,000,000. The majority shareholder at the time of establishment was Guowei Zhang. On April 1, 2020, Zhejiang Jingbo Ecological Technology became the sole shareholder of Hangzhou Zhuyi. Hangzhou Zhuyi is specialized in smart parking projects, smart parking mobile applications and cloud platform construction innovation.

Zhejiang Linglingyi Network Technology Co. (“Linglingyi”) was incorporated on November 17, 2018. Its sole director is Guowei Zhang. Hangzhou Zhuyi acquired 100% of Linglingyi on April 29. 2022. Its main businesses are smart parking projects and smart parking mobile applications.

Liangshan Tongfu Technology Co. (“Liangshan”) was incorporated on November 13, 2018. On September 29, 2022, Hangzhou Zhuyi entered in a share agreement with Hangzhou Kaai Technology Co. to purchase 26% of Liangshan’s shares. As a result, Hangzhou Zhuyi holds 67% of Liangshan. Liangshan is into smart parking projects and smart parking mobile applications businesses.

Zhuyi Technology (Anping) Co. (“Anping”) was incorporated on May 12, 2022, which is 90% owned by Hangzhou Zhuyi and it mainly focuses on smart parking projects and smart parking mobile applications.

Haikou Zhuyi Technology Co. (“Haikou”) was incorporated on May 9, 2022 which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Yibin Huibo Technology Co. (“Yibin”) was incorporated on July 4, 2019, which is 80% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Xide Zhuyi Technology Co. (“Xide”) was incorporated on October 14, 2021, which is 67% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Hubei Tongpo Parking Management Co. (“Tongpo”) was incorporated on November 4, 2020, which is a wholly subsidiary of Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Zhuyi Technology (Taining) Co. (“Taining”) was incorporated on May 18, 2021, which is 72% owned by Hangzhou Zhuyi. It mainly focuses on smart parking projects and smart parking mobile applications.

Intellengence Parking Group Limited provides smart parking projects, smart parking mobile applications and cloud platform construction innovation through its consolidated subsidiaries, variable interest entities (“VIE”s) and VIE’s subsidiaries (Collectively, the “Group”).

a. Contractual agreements with VIEs

Power of Attorney

Pursuant to the power of attorney agreements among the Wholly Foreign Owned Enterprises (“WFOE”s), the VIEs and their respective Nominee Shareholders, each Nominee Shareholder of the VIEs irrevocably undertakes to appoint the WFOE, as the attorney-in-fact to exercise all of the rights as a shareholder of the VIEs, including, but not limited to, the right to convene and attend shareholders’ meeting, vote on any resolution that requires a shareholder vote, such as appoint or remove directors and other senior management, and other voting rights pursuant to the articles of association (subject to the amendments) of the VIEs. Each power of attorney agreement is irrevocable and remains in effect as long as the Nominee Shareholder continues to be a shareholder of the VIEs. Unless otherwise required by PRC Laws, none of the VIEs or its shareholders can unilaterally terminate this agreement.

Exclusive Option Agreements

Pursuant to the exclusive option agreements among WFOEs, the VIEs and their respective Nominee Shareholders, the Nominee Shareholders granted WFOEs exclusive right to purchase, when and to the extent permitted under PRC law, all or part of the equity interests from shareholders of VIEs. The exercise price for the options to purchase all or part of the equity interests shall be the minimum amount of consideration permissible under then applicable PRC law. The agreement shall be valid until WFOEs or its designated party purchases all the shares from shareholders of VIEs. The terms of the exclusive option agreement are 10 years and can be automatically extended until such time WFOEs delivers a confirmation letter specifying the renewal term of this agreement. Unless otherwise required by PRC Laws, the VIEs or its shareholders shall not unilaterally terminate this agreement.

Exclusive Business Corporation Agreement

Pursuant to the exclusive business cooperation agreements among the WFOEs and the VIEs, respectively, the WFOEs have the exclusive right to provide the VIEs with services related to, among other things, comprehensive technical support, professional training, consulting services, trademark and copyright of system,. Without prior written consent of the WFOEs, the VIEs agree not to directly or indirectly accept the same or any similar services provided by any others regarding the matters ascribed by the exclusive business cooperation agreements. The VIEs agree to pay the WFOEs services fees, which shall be determined by the WFOEs. The WFOEs have the exclusive ownership of intellectual property rights created as a result of the performance of the agreements. The agreements shall remain effective except that the WFOEs are entitled to terminate the agreements in writing. Unless otherwise required by PRC Laws, the VIEs shall not unilaterally terminate this agreement.

Equity Pledge Agreement

Pursuant to the equity pledge agreements among the WFOEs, the VIEs and their respective Nominee Shareholders, the Nominee Shareholders of the VIEs pledged all of their respective equity interests in the VIEs to the WFOEs as collaterals for performance of the obligations of the VIEs and their Nominee Shareholders under the exclusive business cooperation agreements, the power of attorney agreements, and the exclusive option agreements. The Nominee Shareholders of the VIEs also undertake that, during the term of the equity pledge agreements, unless otherwise approved by the WFOEs in writing, they will not transfer the pledged equity interests or create or allow any new pledge or other encumbrance on the pledged equity interests. These equity pledge agreements remain in force until VIEs and their respective Nominee Shareholders discharge all their obligations under the contractual agreements.

Spousal Consent Letter

Pursuant to the spousal consent letters, the spouses of some of the individual Nominee Shareholders of the VIEs unconditionally and irrevocably agree that the equity interest in the VIEs held by and registered in the name of his or her respective spouse will be disposed of pursuant to the relevant exclusive business cooperation agreements, equity pledge agreements, the exclusive option agreements and the power of attorney agreements, without his or her consent. In addition, each of them agrees not to assert any rights over the equity interest in the VIEs held by their respective spouses. In addition, in the event that any of them obtains any equity interest in the VIEs held by their respective spouses for any reason, such spouses agree to be bound by similar obligations and agreed to enter into similar contractual arrangements.

b. Risks in relation to the VIE structure

On March 15, 2019, the National People’s Congress adopted the Foreign Investment Law of the PRC, which became effective on January 1, 2020, together with their implementation rules and ancillary regulations. The Foreign Investment Law does not explicitly classify contractual arrangements as a form of foreign investment, but it contains a catch-all provision under the definition of “foreign investment”, which includes investments made by foreign investors through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. It is unclear whether the Group’s corporate structure will be seen as violating the foreign investment rules as the Group is currently leveraging the contractual arrangements to operate certain business in which foreign investors are prohibited from or restricted to investing. If variable interest entities fall within the definition of foreign investment entities, the Group’s ability to use the contractual arrangements with its VIEs and the Group’s ability to conduct business through the VIEs could be severely limited.

If the PRC government otherwise finds that the Group in violation of any existing or future PRC laws or regulations or lacks the necessary permits or licenses to operate the business, the Group’s relevant PRC regulatory authorities could:

● revoke the business licenses and/or operating licenses of the Group’s PRC entities;

● impose fines;

● confiscate any income that they deem to be obtained through illegal operations, or impose other requirements with which the Group may not be able to comply;

● discontinue or place restrictions or onerous conditions on the Group’s operations;

● place restrictions on the right to collect revenues;

● require the Group to restructure ownership structure or operations, including terminating the contractual agreements with the VIEs and deregistering the equity pledges of the VIEs, which in turn would affect the ability to consolidate the financial results of and derive economic interests from the VIEs and their subsidiaries;

● restrict or prohibit the use of the proceeds from financing activities to finance the business and operations of the VIEs and their subsidiaries; or

● take other regulatory or enforcement actions that could be harmful to the Group’s business.

The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIEs or the right to receive its economic benefits, the Group would no longer be able to consolidate the VIEs. The management believes that the likelihood for the Group to lose such ability is remote based on current facts and circumstances. However, the interpretation and implementation of the laws and regulations in the PRC and their application to an effect on the legality, binding effect and enforceability of contracts are subject to the discretion of competent PRC authorities, and therefore there is no assurance that relevant PRC authorities will take the same position as the Group herein in respect of the legality, binding effect and enforceability of each of the contractual arrangements. Meanwhile, since the PRC legal system continues to rapidly evolve, it may lead to changes in PRC laws, regulations and policies or in the interpretation and application of existing laws, regulations and policies, which may limit legal protections available to the Group to enforce the contractual arrangements should the VIEs or the Nominee Shareholders of the VIEs fail to perform their obligations under those arrangements. The enforceability, and therefore the benefits, of the contractual agreements between the Company and the VIEs depend on Nominee Shareholders enforcing the contracts. There is a risk that Nominee shareholders of VIEs, who in some cases are also shareholders of the Company may have conflict of interests with the Company in the future or fail to perform their contractual obligations. Given the significance and importance of the VIEs, there would be a significant negative impact to the Company if these contracts were not enforced.

The Group’s operations depend on the VIEs to honor their contractual agreements with the Group. The Company’s ability to direct activities of the VIEs that most significantly impact their economic performance and the Company’s right to receive the economic benefits that could potentially be significant to the VIEs depend on the authorization by the shareholders of the VIEs to exercise voting rights on all matters requiring shareholder approval in the VIEs. The Company believes that the agreements on authorization to exercise shareholder’s voting power are enforceable against each party thereto in accordance with their terms and applicable PRC laws or regulations currently in effect and the possibility that it will no longer be able to consolidate the VIEs as a result of the aforementioned risks and uncertainties is remote.

c. Summary of financial information of the Group’s VIEs (inclusive of VIE’s subsidiaries)

The following tables set forth the financial statement balances and amounts of the VIEs and their subsidiaries included in the condensed financial statements after the elimination of intercompany balances and transactions among VIEs and their subsidiaries within the Group.

The consolidated financial statements of the Group’s VIEs have been audited by filing the Form 10-K for the year ended May 31, 2023.

		August 31, 2023				May 31, 2023 (Audited)
			$				$
Cash and cash equivalents			251,540				401,984
Restricted cash			12,171				10,273
Accounts receivable			457,057				409,380
Inventories			208,397				177,034
Prepaid expenses and other current assets			2,409,183				2,045,736
Plant and equipment, net			6,195,788				6,581,823
Intangible assets, net			14,734				15,543
Right-of-use assets			240,442				277,184
Other non-current assets			2,713,917				2,884,090
Total Assets			12,503,229				12,803,047
Accounts payables			765,439				749,226
Advances from customers			3,157,940				622,069
Other current payables			1,501,194				1,300,969
Taxes payable			34,638				18,737
Amounts due to related parties			516,657				540,897
Operating lease liabilities, current			128,548				126,659
Long-term loan			30,215,181				32,740,623
Operating lease liabilities, non-current			100,827				121,555
Total Liabilities			36,420,424				36,220,735
Total (Deficit) Equity of VIEs			(23,917,195	)			(23,417,688	)
Total Liabilities and (Deficit) Equity of VIEs			12,503,229				12,803,047

			Three Months Ended August 31, 2023				Three Months Ended August 31, 2022
			$				$
Net revenues			401,904				796,377
Cost of revenues			(623,408)				(1,196,709)
Gross loss			(221,504)				(400,332)
Total costs and expenses			(764,335)				(1,779,342)
Operating loss			(985,839)				(2,179,674)
Total other income and (expenses)			349				(63,541)
Loss before taxes from operations			(985,490)				(2,243,215)
Provision for income taxes			-				-
Net loss			(985,490)				(2,243,215)
Net loss attributable to VIEs			(946,460)				(2,226,135)

		2023				2022
		Three Months Ended August 31,
		2023				2022
Net cash provided by/(used in) operating activities			1,703,742				(1,229,376	)
Net cash provided by/(used in) investing activities			40,121				(680,934	)
Net cash (used in)/provided by financing activities			(1,885,114	)			1,883,960
Effect of exchange rate changes on cash and cash equivalents			(7,295	)			(3,052	)
Net decrease in cash and cash equivalents			(148,546	)			(29,402	)
Cash and cash equivalents at the beginning of period			412,257				108,787
Cash and cash equivalents at the end of period			263,711				79,385

Summary of Significant Accounting Policies

3 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

The Company’s significant accounting policies have not changed from the year ended May 31, 2023.

The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United Statements of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2023, as filed with the SEC on October 2, 2023. Operating results for the three months ended August 31, 2023 are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending May 31, 2024.

Going Concern

The Company incurred net loss of $1,532,055 during the three months ended August 31, 2023. As of August 31, 2023, the Company had total deficit of $24,933,717 and net cash provided by operating activities of $1,143,177. The Company incurred net loss of $6,783,522 during the year ended May 31, 2023. As of May 31, 2023, the Company had total deficit of $23,887,645 and had net cash provided by operating activities of $102,130.

The ability to continue as a going concern is dependent upon long-term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on long term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet obligations as they become due and to obtain additional equity or alternative financing required to fund operations until sufficient sources of recurring revenues can be generated. There can be no assurance that the Company will be successful in its plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Foreign currency translation

The accompanying financial statements are presented in United States dollars. The functional currencies of the Company are in Renminbi (RMB). The Company’s assets and liabilities are translated into United States dollars from RMB at year-end exchange rates, and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

			08312023				05312023				08312022
Period/Year end RMB: US$ exchange rate			7.2582				7.1100				6.8924
Annual average RMB: US$ exchange rate			7.2005				6.9185				6.7410

The RMB is not freely convertible into foreign currencies and all foreign exchange transactions must be conducted through authorized financial institutions.

Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Trade Receivables

3 Months Ended

Aug. 31, 2023

Receivables [Abstract]

Trade Receivables

4. Trade Receivables

The Company does not provide any credit terms to its customers for smart parking. Cash will be collected by the exit of parking lots. The Company provides one to three months credits term for customers purchasing parking equipment.

Prepaid Expenses and Other Current Assets

3 Months Ended

Aug. 31, 2023

Prepaid Expenses And Other Current Assets

Prepaid Expenses and Other Current Assets

5. Prepaid Expenses and Other Current Assets

		August 31, 2023				May 31, 2023
Prepayment			844,949				591,277
Prepayment for rental (a)			427,103				438,256
Deposit			375,976				366,478
Loan receivable (b)			331,747				342,882
Advances to employees			68,822				125,508
Other			152,870				157,164
VAT			183,584				39
Total			2,385,051				2,021,604

(a)	Prepayment for rental included a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.

(b)	Loan receivables are loans borrow to third parties. All loans are interest free and will be repaid on demand.

Property and Equipment

3 Months Ended

Aug. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Schedule of Property and Equipment

		Furniture, fixtures and office equipment				Building (a)				Vehicles				Project Facilities				Construction in progress (b)				Total
Cost
At May 31,2023			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Beginning balance, cost			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Additions during the year			10,379				-				1,944				40,359				47,807				100,489
Disposals during the year			(16,002	)			-				-				(10,613	)			(149,384	)			(175,999	)
Effects of currency translation			(19,603	)			(90,597	)			(2,531	)			(62,301	)			(19,055	)			(194,087	)
At August 31,2023			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327
Ending balance, cost			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327

Accumulated depreciation
At May 31,2023			902,974				579,952				106,927				1,363,248				-				2,953,101
Beginning balance, Accumulated depreciation			902,974				579,952				106,927				1,363,248				-				2,953,101
Depreciation during the year			39,554				52,028				3,084				104,995				-				199,661
Disposals during the year			(15,202	)			-				-				(6,306	)			-				(21,508	)
Effects of currency translation			(18,631	)			(24,541	)			(2,208	)			(16,335	)			-				(61,715	)
At August 31,2023			908,695				607,439				107,803				1,445,602				-				3,069,539
Ending balance, Accumulated depreciation			908,695				607,439				107,803				1,445,602				-				3,069,539

Net book value
At May 31,2023			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
Beginning balance, Net book value			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
At August 31,2023			28,350				3,739,029				14,822				1,561,489				852098				6,195,788
Ending balance, Net book value			28,350				3,739,029				14,822				1,561,489				852098				6,195,788

(a)	Address of the building is Building B8, China Zhigu Fuchun, Yinhu Village, Shoujiang town, Fuyang District, China

(b)	The Company has 6 constructions in progress in total. 5 constructions, related to parking lots, are expected to be completed in one year. Upon completion, these constructions will be transferred to project facilities. The remaining one construction does not yet have an estimate time of completion.

Intangible Assets

3 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

7. Intangible Assets

Schedule of Intangible Assets

Cost
At May 31,2023			28,529
Beginning balance, cost			28,529
Additions during the period			-
Disposals during the period			-
Effects of currency translation			(583	)
At August 31,2023			27,946
Ending balance, cost			27,946
Accumulated depreciation
At May 31,2023			12,986
Beginning balance, Accumulated depreciation			12,986
Depreciation during the period			495
Disposals during the period			-
Effects of currency translation			(269	)
At August 31,2023			13,212
Ending balance, Accumulated depreciation			13,212
Net book value
At May 31,2023			15,543
At August 31,2023			14,734

Right-of-use Assets

3 Months Ended

Aug. 31, 2023

Right-of-use Assets

Right-of-use Assets

8. Right-of-use Assets

Schedule of Right of Use Assets

		$
Cost
At May 31, 2023			2,118,650
Additions during the period			-
Write-off during the period			-
Effects of currency translation			(43,259)
At August 31, 2023			2,075,391

Accumulated depreciation
At May 31,2023			1,841,466
Depreciation during the period			31,331
Write-off during the period			-
Effects of currency translation			(37,848)
At August 31, 2023			1,834,949

Net book value
At May 31, 2023			277,184
At August 31, 2023			240,442

Right of use assets consisted of 16 contracts renting offices, warehouses and parking lots. Contracted terms ranged between two and eight years with the earliest start date being January 8, 2019.

Other non-current assets

3 Months Ended

Aug. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other non-current assets

9. Other non-current assets

Other non-current assets mainly consisted of a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.

Other payables and Accruals

3 Months Ended

Aug. 31, 2023

Payables and Accruals [Abstract]

Other payables and Accruals

10. Other payables and Accruals

Schedule of Other Payable and Accruals

		August 31, 2023				May 31, 2023
			$				$
Accrued payroll and welfare payables			462,164				338,657
Deposit			26,904				27,194
Loans payable			337,550				344,585
Other (a)			675,231				591,188
Total			1,501,849				1,301,624

(a)	Other mainly included collection of parking fees on behalf of a third party.

Related Party Transactions

3 Months Ended

Aug. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

(a) The Company had the following balances due to and due from related parties:

At August 31, 2023 and May 31, 2023, the Company owned funds from the following related parties:

Schedule of Related Party Transactions

		August 31, 2023				May 31, 2023				Relationship

Intellegence Triumph Holdings Limited			5,000				5,000			Former shareholder
Virtue Victory Holdings Limited			5,200				5,200			Former shareholder
Strength Union Holdings Limited			5,800				5,800			Former shareholder
Due from related party

At August 31, 2023 and May 31, 2023, the Company owed funds to the following related parties:

		August 31, 2023				May 31.2023				Relationship

Guowei Zhang			1,529,244				1,056,221			President of the Company
Xinxin Chen			1,500				1,500			Former shareholder
Shaoxing Keqiao Zhuyi Technology Co., Ltd			30,215,181				32,740,623			An entity controlled by a shareholder

Advances from Guowei Zhang were unsecured, non-interest bearing and due on demand.

During the three months ended August 31, 2023, the Company borrowed from related parties of $498,266 and made repayments to related parties of $14,305. During the year ended May 31, 2023, the Company borrowed from related parties of $713,753 and made repayments to related parties of $16,552.

As of May 31, 2022, the outstanding balance of long-term loans was RMB 221,267,008.77 (USD$33,211,152). It consisted of two loans related to Beijing Zhibo Innovation Technology Co., Ltd (“Zhibo”). The Company entered into a three year loan on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD $45,028,818) with an interest rate of 3.6%. 25% of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The other contract was a two-year interest-free agreement signed on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$3,302,098). As of May 31, 2022, outstanding balances of the first and second loans were RMB 201,909,728.77 (USD$30,305,855) and RMB 19,357,280 (USD$2,905,297), respectively.

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.

Due to business restructure, Zhibo was deregistered at the beginning of 2023. Before deregistration, on January 15, 2023, Zhibo transferred the debts to a number of companies/partnerships with the clauses unchanged. The table below set forth the amount transferred to each Zhibo’s creditor as of January 15, 2023.

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

For helping the Company consolidate debts and providing financial support to the Company, Shaoxin Keqiao Zhuyi Technology Co., Ltd., whose sole shareholder is Xiujuan Chen, took over the debts from the businesses mentioned in the table. Loan transfer agreements were executed on March 16 and 17, 2023 with the original clauses unchanged. Xiujuan Chen is also one of the shareholders of the Company. After the loans transferred to Shaoxin Keqiao Zhuyi Technology Co., Ltd., outstanding balances were offset in part or in full if the transferees were our current debtors.

The below table shows the movements of loans before the transfers and the final amounts being transferred.

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

During the three months ended August 31, 2023, the Company did not borrow extra funds from and made repayments of RMB 13,478,000 ($1,871,812) to Shaoxin Keqiao Zhuyi Technology Co., Ltd..

Income Taxes

3 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

12. Income Taxes

PRC

The Company’s subsidiaries incorporated in the PRC are subject to a profits tax rate of 25% for income generated and operation in the country.

The full realization of the tax benefit associated with the carry forward losses depends predominantly upon the Company’s ability to generate taxable income during the carry forward period.

Income tax expense (benefits)

		August 31, 2023				August 31, 2022
		$				$
Loss before tax			(1,532,055	)			(2,257,141	)
Tax credit calculated at statutory tax rate			(383,014	)			(564,285	)
Effect of different tax rates			21,863				557
Deferred tax asset not recognized during the period/year			361,151				563,728
Income tax expenses			-				-

The Company accounts for income taxes using the asset/liability method prescribed by ASC 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profits will be available against which the Company can utilise the benefits.

Management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets.

Long-term Borrowings

3 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

Long-term Borrowings

13. Long-term Borrowings

As of May 31, 2022, the outstanding balance of long-term loans was RMB 221,267,008.77 (USD$33,211,152). It consisted of two loans related to Beijing Zhibo Innovation Technology Co., Ltd (“Zhibo”). The Company entered into a three year loan on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD $45,028,818) with an interest rate of 3.6%. 25% of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The other contract was a two-year interest-free agreement signed on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$3,302,098). As of May 31, 2022, outstanding balances of the first and second loans were RMB 201,909,728.77 (USD$30,305,855) and RMB 19,357,280 (USD$2,905,297), respectively.

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.

Due to business restructure, Zhibo was deregistered at the beginning of 2023. Before deregistration, on January 15, 2023, Zhibo transferred the debts to a number of companies/partnerships with the clauses unchanged. The table below set forth the amount transferred to each Zhibo’s creditor as of January 15, 2023.

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

For helping the Company consolidate debts and providing financial support to the Company, Shaoxin Keqiao Zhuyi Technology Co., Ltd., whose sole shareholder is Xiujuan Chen, took over the debts from the businesses mentioned in the table. Loan transfer agreements were executed on March 16 and 17, 2023 with the original clauses unchanged. Xiujuan Chen is also one of the shareholders of the Company. After the loans transferred to Shaoxin Keqiao Zhuyi Technology Co., Ltd., outstanding balances were offset in part or in full if the transferees were our current debtors.

The below table shows the movements of loans before the transfers and the final amounts being transferred.

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

During the three months ended August 31, 2023, the Company did not borrow extra funds from and made repayments of RMB 13,478,000 ($1,871,812) to Shaoxin Keqiao Zhuyi Technology Co., Ltd..

Leases

3 Months Ended

Aug. 31, 2023

14. Leases

Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company entered into 16 agreements for renting offices, warehouses and parking lots. As of August 31, 2023, the Company has $240,442 of right-of-use assets, $128,548 in current operating lease liabilities and $100,827 in non-current operating lease liabilities.

Significant assumptions and judgments made as part of the adoption of this new lease standard include determining (i) whether a contract contains a lease, (ii) whether a contract involves an identified asset, and (iii) which party to the contract directs the use of the asset. The discount rates used to calculate the present value of lease payments were determined based on hypothetical borrowing rates available to the Company over terms similar to the lease terms.

The Company’s future minimum payments under long-term non-cancellable operating leases are as follows:

		As of August 31, 2023				As of May 31, 2023
			$				$
Within 1 year			136,659				136,710
After 1 year but within 5 years			105,791				127,793
Total lease payments			242,450				264,503

Less: imputed interest			(13,075	)			(16,289	)
Total lease obligations			229,375				248,214
Less: current obligations			(128,548	)			(126,659	)
Long-term lease obligations			100,827				121,555

Non-controlling interests (NCI)

3 Months Ended

Aug. 31, 2023

Noncontrolling Interest [Abstract]

Non-controlling interests (NCI)

15. Non-controlling interests (NCI)

Non-controlling interests (“NCI”) represent the portion of net assets in consolidated entities that are not owned by the Company.

The following table represent the non-controlling ownership interests and non-controlling interest balances reported in stockholder’s equity as of August 31, 2023 and May 31, 2023 respectively.

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
NCI ownership interest			33	%			33	%			20	%			20	%			33	%			33	%			28	%			28	%			10	%			10	%
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

The summarized financial information for subsidiary that has non-controlling interest which are material to the Company is provided below. This information is based on amounts before inter-company elimination.

Summarized statement of financial position as at

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Non-current assets			350,376				391,073				-				-				44,911				49,521				138,062				153,693				-				-				533,349				594,287
Current assets			99,175				102,279				1,579				1,617				9,082				9,276				22,809				23,567				1				1				132,646				136,740
Current liabilities			(796,425	)			(748,450	)			(57,025	)			(86,863	)			(249,109	)			(238,248	)			(103,226	)			(91,047	)			-				-				(1,205,785	)			(1,164,608	)
Non-current liabilities			(59,536	)			(60,039	)			-				-				-				-				-				(6,551	)			-				-				(59,536	)			(66,590	)
Net assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Net Assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)
Less: Zhuyi capital and additional paid-in capital			(2,101,929	)			(2,101,930	)			-				-				-				-				(310,895	)			(310,895	)			(16,551	)			(16,551	)			(2,429,375	)			(2,429,376	)
Less: OCI			(108,039	)			(100,820	)			(8,771	)			(7,255	)			(11,300	)			(7,482	)			(2,126	)			(3,589	)			646				646				(129,590	)			(118,500	)
Accumulated Deficits			(2,616,378	)			(2,517,887	)			(64,217	)			(92,501	)			(206,416	)			(186,933	)			(255,376	)			(234,822	)			(15,904	)			(15,904	)			(3,158,291	)			(3,048,047	)
Accumulated Deficits attributable to NCI			(863,405	)			(830,903	)			(12,843	)			(18,500	)			(68,117	)			(61,688	)			(71,505	)			(65,750	)			(1,590	)			(1,590	)			(1,017,460	)			(978,431	)
Plus: OCI attributable to NCI			(33,896	)			(33,271	)			(1,755	)			(1,451	)			(3,729	)			(2,469	)			(596	)			(1,005	)			64				64				(39,912	)			(38,132	)
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

Reserves

3 Months Ended

Aug. 31, 2023

16. Reserves

Statutory reserve

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. These reserves can only be used for specific purposes of enterprise expansion and are not distributable as cash dividends. During the three months ended August 31, 2023 and the year ended May 31, 2023, the Company did not accrue any statutory reserve.

Foreign currency translation reserve

The foreign currency translation reserve represents translation differences arising from translation of foreign currency financial statements into the Company’s reporting currency.

Quantitative and Qualitative Disclosure about Market Risks

3 Months Ended

Aug. 31, 2023

Quantitative And Qualitative Disclosure About Market Risks

Quantitative and Qualitative Disclosure about Market Risks

17. Quantitative and Qualitative Disclosure about Market Risks

	A.	Credit risk

		The Company’s deposits are with banks located in the PRC. They do not carry federal deposit insurance and may be subject to loss if the banks become insolvent.
		Accounts receivable are typically unsecured and are derived from revenues earned from customers in the PRC. The credit risk with respect to account receivables is mitigated by credit control policies we carry out with respect to our customers and our ongoing monitoring process of outstanding balances.

	B.	Economic and political risks

		The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by changes in the political, economic, and legal environments in the PRC.

		The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things.

	C.	Interest risk

		The Company is subject to interest rate risk when long term loans become due and require refinancing.

	D.	Sensitivity analysis

		The long-term loans are free of interest for the first 32 months however if interest were to charge at an annual rate of 3.64%, interest expense would be $1.1 million per year. The Company adopts 3.64% as an annual interest rate based on the China LPR announced on October 20, 2023 with an adjustment to loan terms. If interest rate increases or decreases by 10%, it could lead to an increase or decrease in interest expense of $109,983 per year.

Subsequent Events

3 Months Ended

Aug. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

The Company has performed an evaluation of subsequent events through November 3, 2023, which was the date of the issuance of the consolidated financial statements, and determined that no events would have required adjustment or disclosure in the consolidated financial statements other than that discussed above.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Going Concern

The Company incurred net loss of $1,532,055 during the three months ended August 31, 2023. As of August 31, 2023, the Company had total deficit of $24,933,717 and net cash provided by operating activities of $1,143,177. The Company incurred net loss of $6,783,522 during the year ended May 31, 2023. As of May 31, 2023, the Company had total deficit of $23,887,645 and had net cash provided by operating activities of $102,130.

The ability to continue as a going concern is dependent upon long-term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on long term loans related to Shaoxing Keqiao Zhuyi Technology Co. and the director (Guowei Zhang) to meet obligations as they become due and to obtain additional equity or alternative financing required to fund operations until sufficient sources of recurring revenues can be generated. There can be no assurance that the Company will be successful in its plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Foreign currency translation

Foreign currency translation

The accompanying financial statements are presented in United States dollars. The functional currencies of the Company are in Renminbi (RMB). The Company’s assets and liabilities are translated into United States dollars from RMB at year-end exchange rates, and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

			08312023				05312023				08312022
Period/Year end RMB: US$ exchange rate			7.2582				7.1100				6.8924
Annual average RMB: US$ exchange rate			7.2005				6.9185				6.7410

The RMB is not freely convertible into foreign currencies and all foreign exchange transactions must be conducted through authorized financial institutions.

Earnings per share

Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Organization and Principal Activities (Tables)

3 Months Ended

Aug. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Share Acquired by Purchases

Schedule of Share Acquired by Purchases

Purchasers		Shares acquired				%
Zhang Yiping			15,189,500				24.54	%
Chen Xinxin			4,000,000				6.46	%
Wang Yanfang			2,000,000				3.23	%
Liu Chen			2,000,000				3.23	%
Liu Ying			1,906,288				3.08	%

Schedule of Economic Benefits Ownership Percentage

The Company’s major subsidiaries, VIEs and VIE’s subsidiaries are described as follows:

Companies		Country/Place and date of incorporation/establishment		Percentage of direct or indirect economic benefits ownership August 31,
				2023				2022
Major Subsidiaries
Intellegence Parking Group Limited		Cayman June 29, 2022			100	%			100	%
Intellegence Parking (Hong Kong) Limited		Hong Kong July 20, 2022			100	%			100	%
Huixin Zhiying (Hangzhou) Technology Co.		PRC October 24, 2022			100	%			100	%

Major VIEs (Including VIE’s Subsidiaries)
Zhejiang Jingbo Ecological Technology Co.		PRC December 18, 2019			100	%			100	%
Hangzhou Zhuyi Technology Co.		PRC November 13, 2017			100	%			100	%

Variable Interest Entities (Tables)

3 Months Ended

Aug. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities Financial Statements

		August 31, 2023				May 31, 2023 (Audited)
			$				$
Cash and cash equivalents			251,540				401,984
Restricted cash			12,171				10,273
Accounts receivable			457,057				409,380
Inventories			208,397				177,034
Prepaid expenses and other current assets			2,409,183				2,045,736
Plant and equipment, net			6,195,788				6,581,823
Intangible assets, net			14,734				15,543
Right-of-use assets			240,442				277,184
Other non-current assets			2,713,917				2,884,090
Total Assets			12,503,229				12,803,047
Accounts payables			765,439				749,226
Advances from customers			3,157,940				622,069
Other current payables			1,501,194				1,300,969
Taxes payable			34,638				18,737
Amounts due to related parties			516,657				540,897
Operating lease liabilities, current			128,548				126,659
Long-term loan			30,215,181				32,740,623
Operating lease liabilities, non-current			100,827				121,555
Total Liabilities			36,420,424				36,220,735
Total (Deficit) Equity of VIEs			(23,917,195	)			(23,417,688	)
Total Liabilities and (Deficit) Equity of VIEs			12,503,229				12,803,047

			Three Months Ended August 31, 2023				Three Months Ended August 31, 2022
			$				$
Net revenues			401,904				796,377
Cost of revenues			(623,408)				(1,196,709)
Gross loss			(221,504)				(400,332)
Total costs and expenses			(764,335)				(1,779,342)
Operating loss			(985,839)				(2,179,674)
Total other income and (expenses)			349				(63,541)
Loss before taxes from operations			(985,490)				(2,243,215)
Provision for income taxes			-				-
Net loss			(985,490)				(2,243,215)
Net loss attributable to VIEs			(946,460)				(2,226,135)

		2023				2022
		Three Months Ended August 31,
		2023				2022
Net cash provided by/(used in) operating activities			1,703,742				(1,229,376	)
Net cash provided by/(used in) investing activities			40,121				(680,934	)
Net cash (used in)/provided by financing activities			(1,885,114	)			1,883,960
Effect of exchange rate changes on cash and cash equivalents			(7,295	)			(3,052	)
Net decrease in cash and cash equivalents			(148,546	)			(29,402	)
Cash and cash equivalents at the beginning of period			412,257				108,787
Cash and cash equivalents at the end of period			263,711				79,385

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Schedule of Foreign Currency Translation

			08312023				05312023				08312022
Period/Year end RMB: US$ exchange rate			7.2582				7.1100				6.8924
Annual average RMB: US$ exchange rate			7.2005				6.9185				6.7410

Prepaid Expenses and Other Current Assets (Tables)

3 Months Ended

Aug. 31, 2023

Prepaid Expenses And Other Current Assets

Schedule of Prepaid Expenses and Other Current Assets

		August 31, 2023				May 31, 2023
Prepayment			844,949				591,277
Prepayment for rental (a)			427,103				438,256
Deposit			375,976				366,478
Loan receivable (b)			331,747				342,882
Advances to employees			68,822				125,508
Other			152,870				157,164
VAT			183,584				39
Total			2,385,051				2,021,604

(a)	Prepayment for rental included a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.

(b)	Loan receivables are loans borrow to third parties. All loans are interest free and will be repaid on demand.

Property and Equipment (Tables)

3 Months Ended

Aug. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Schedule of Property and Equipment

		Furniture, fixtures and office equipment				Building (a)				Vehicles				Project Facilities				Construction in progress (b)				Total
Cost
At May 31,2023			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Beginning balance, cost			962,271				4,437,065				123,212				3,039,646				972,730				9,534,924
Additions during the year			10,379				-				1,944				40,359				47,807				100,489
Disposals during the year			(16,002	)			-				-				(10,613	)			(149,384	)			(175,999	)
Effects of currency translation			(19,603	)			(90,597	)			(2,531	)			(62,301	)			(19,055	)			(194,087	)
At August 31,2023			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327
Ending balance, cost			937,045				4,346,468				122,625				3,007,091				852,098				9,265,327

Accumulated depreciation
At May 31,2023			902,974				579,952				106,927				1,363,248				-				2,953,101
Beginning balance, Accumulated depreciation			902,974				579,952				106,927				1,363,248				-				2,953,101
Depreciation during the year			39,554				52,028				3,084				104,995				-				199,661
Disposals during the year			(15,202	)			-				-				(6,306	)			-				(21,508	)
Effects of currency translation			(18,631	)			(24,541	)			(2,208	)			(16,335	)			-				(61,715	)
At August 31,2023			908,695				607,439				107,803				1,445,602				-				3,069,539
Ending balance, Accumulated depreciation			908,695				607,439				107,803				1,445,602				-				3,069,539

Net book value
At May 31,2023			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
Beginning balance, Net book value			59,297				3,857,113				16,285				1,676,398				972,730				6,581,823
At August 31,2023			28,350				3,739,029				14,822				1,561,489				852098				6,195,788
Ending balance, Net book value			28,350				3,739,029				14,822				1,561,489				852098				6,195,788

(a)	Address of the building is Building B8, China Zhigu Fuchun, Yinhu Village, Shoujiang town, Fuyang District, China

(b)	The Company has 6 constructions in progress in total. 5 constructions, related to parking lots, are expected to be completed in one year. Upon completion, these constructions will be transferred to project facilities. The remaining one construction does not yet have an estimate time of completion.

Intangible Assets (Tables)

3 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Schedule of Intangible Assets

Cost
At May 31,2023			28,529
Beginning balance, cost			28,529
Additions during the period			-
Disposals during the period			-
Effects of currency translation			(583	)
At August 31,2023			27,946
Ending balance, cost			27,946
Accumulated depreciation
At May 31,2023			12,986
Beginning balance, Accumulated depreciation			12,986
Depreciation during the period			495
Disposals during the period			-
Effects of currency translation			(269	)
At August 31,2023			13,212
Ending balance, Accumulated depreciation			13,212
Net book value
At May 31,2023			15,543
At August 31,2023			14,734

Right-of-use Assets (Tables)

3 Months Ended

Aug. 31, 2023

Right-of-use Assets

Schedule of Right of Use Assets

Schedule of Right of Use Assets

		$
Cost
At May 31, 2023			2,118,650
Additions during the period			-
Write-off during the period			-
Effects of currency translation			(43,259)
At August 31, 2023			2,075,391

Accumulated depreciation
At May 31,2023			1,841,466
Depreciation during the period			31,331
Write-off during the period			-
Effects of currency translation			(37,848)
At August 31, 2023			1,834,949

Net book value
At May 31, 2023			277,184
At August 31, 2023			240,442

Other payables and Accruals (Tables)

3 Months Ended

Aug. 31, 2023

Payables and Accruals [Abstract]

Schedule of Other Payable and Accruals

Schedule of Other Payable and Accruals

		August 31, 2023				May 31, 2023
			$				$
Accrued payroll and welfare payables			462,164				338,657
Deposit			26,904				27,194
Loans payable			337,550				344,585
Other (a)			675,231				591,188
Total			1,501,849				1,301,624

(a)	Other mainly included collection of parking fees on behalf of a third party.

Related Party Transactions (Tables)

3 Months Ended

Aug. 31, 2023

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

At August 31, 2023 and May 31, 2023, the Company owned funds from the following related parties:

Schedule of Related Party Transactions

		August 31, 2023				May 31, 2023				Relationship

Intellegence Triumph Holdings Limited			5,000				5,000			Former shareholder
Virtue Victory Holdings Limited			5,200				5,200			Former shareholder
Strength Union Holdings Limited			5,800				5,800			Former shareholder
Due from related party

At August 31, 2023 and May 31, 2023, the Company owed funds to the following related parties:

		August 31, 2023				May 31.2023				Relationship

Guowei Zhang			1,529,244				1,056,221			President of the Company
Xinxin Chen			1,500				1,500			Former shareholder
Shaoxing Keqiao Zhuyi Technology Co., Ltd			30,215,181				32,740,623			An entity controlled by a shareholder

Schedule of Related Party Amount Transferred to Creditor

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

Schedule of Related Party Amount Before Transfers and Final Amounts Being Transferred

The below table shows the movements of loans before the transfers and the final amounts being transferred.

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

Income Taxes (Tables)

3 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expenses (Benefits)

Income tax expense (benefits)

		August 31, 2023				August 31, 2022
		$				$
Loss before tax			(1,532,055	)			(2,257,141	)
Tax credit calculated at statutory tax rate			(383,014	)			(564,285	)
Effect of different tax rates			21,863				557
Deferred tax asset not recognized during the period/year			361,151				563,728
Income tax expenses			-				-

Long-term Borrowings (Tables)

3 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings Amount Transferred to Creditor

Transferee		Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				5,327,769
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				6,118,143
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				1,329,162
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				281,294
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				717,300
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				562,588
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				64,482
Total			234,289,035.38				32,952,046

Schedule of Long-Term Borrowings Amount Before Transfers and Final Amounts Being Transferred

Transferor		Balance as at January 15, 2023 (RMB)				Offset (RMB)				Increase (RMB)				Transferred amounts (RMB)				Transferred amounts (USD)
Hangzhou Chiyi Enterprise Management Partnership (Limited Partnership)			30,000,000.00				-				-				30,000,000.00				4,219,409
Hangzhou Chuangzhu Enterprise Management Partnership (Limited Partnership)			10,097,186.49				-				-				10,097,186.49				1,420,139
Hangzhou HongKuo Enterprise Management Partnership (Limited partnership)			41,802,605.93				-				-				41,802,605.93				5,879,410
Hangzhou Hongying Enterprise Management Partnership (Limited Partnership)			10,000,000.00				-				-				10,000,000.00				1,406,470
Hangzhou Liujin Enterprise Management Partnership (Limited Partnership)			37,880,435.02				-				8,652,951.79				46,533,386.81				6,544,780
Hangzhou Liujin Enterprise Management Partnership Co., Ltd.			2,000,000.00				-				6,427,428.49				8,427,428.49				1,185,292
Hangzhou Ruiqi Enterprise Management Partnership (Limited Partnership)			43,500,000.00				(2,309,273.07	)			4,734,492.66				45,925,219.59				6,459,243
Hangzhou Zhusheng Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Zhuyuan Enterprise Management Partnership (Limited Partnership)			20,000,000.00				-				-				20,000,000.00				2,812,940
Hangzhou Jizhong Ecological Technology Co., Ltd.			9,450,338.82				(9,450,338.82	)			-				-				-
Hangzhou Renyigou E-Commerce Co., Ltd.			5,100,000.00				(5,100,000.00	)			-				-				-
Hangzhou Yixin Supply Chain Management Co., Ltd.			4,000,000.00				(4,000,000.00	)			-				-				-
Hangzhou Zhizhu Parking Co., Ltd.			458,469.12				(458,469.12	)			-				-				-
Total			234,289,035.38				(21,318,081.01	)			19,814,872.94				232,785,827.31				32,740,623

Leases (Tables)

3 Months Ended

Aug. 31, 2023

Schedule of Future Minimum Payments Under Long Term Non-Cancellable Operating Lease

The Company’s future minimum payments under long-term non-cancellable operating leases are as follows:

		As of August 31, 2023				As of May 31, 2023
			$				$
Within 1 year			136,659				136,710
After 1 year but within 5 years			105,791				127,793
Total lease payments			242,450				264,503

Less: imputed interest			(13,075	)			(16,289	)
Total lease obligations			229,375				248,214
Less: current obligations			(128,548	)			(126,659	)
Long-term lease obligations			100,827				121,555

Non-controlling interests (NCI) (Tables)

3 Months Ended

Aug. 31, 2023

Noncontrolling Interest [Abstract]

Schedule of Non Controlling Ownership Interest

The following table represent the non-controlling ownership interests and non-controlling interest balances reported in stockholder’s equity as of August 31, 2023 and May 31, 2023 respectively.

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
NCI ownership interest			33	%			33	%			20	%			20	%			33	%			33	%			28	%			28	%			10	%			10	%
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

Schedule of Statement of Financial Positions

Summarized statement of financial position as at

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Non-current assets			350,376				391,073				-				-				44,911				49,521				138,062				153,693				-				-				533,349				594,287
Current assets			99,175				102,279				1,579				1,617				9,082				9,276				22,809				23,567				1				1				132,646				136,740
Current liabilities			(796,425	)			(748,450	)			(57,025	)			(86,863	)			(249,109	)			(238,248	)			(103,226	)			(91,047	)			-				-				(1,205,785	)			(1,164,608	)
Non-current liabilities			(59,536	)			(60,039	)			-				-				-				-				-				(6,551	)			-				-				(59,536	)			(66,590	)
Net assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)

			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
		Liangshan								Yibin								Xide								Taining								Anping								Total
			083123				053123				083123				053123				083123				053123				083123				053123				083123				053123				083123				053123
Net Assets			(406,410	)			(315,137	)			(55,446	)			(85,246	)			(195,116	)			(179,451	)			57,645				79,662				1				1				(599,326	)			(500,171	)
Less: Zhuyi capital and additional paid-in capital			(2,101,929	)			(2,101,930	)			-				-				-				-				(310,895	)			(310,895	)			(16,551	)			(16,551	)			(2,429,375	)			(2,429,376	)
Less: OCI			(108,039	)			(100,820	)			(8,771	)			(7,255	)			(11,300	)			(7,482	)			(2,126	)			(3,589	)			646				646				(129,590	)			(118,500	)
Accumulated Deficits			(2,616,378	)			(2,517,887	)			(64,217	)			(92,501	)			(206,416	)			(186,933	)			(255,376	)			(234,822	)			(15,904	)			(15,904	)			(3,158,291	)			(3,048,047	)
Accumulated Deficits attributable to NCI			(863,405	)			(830,903	)			(12,843	)			(18,500	)			(68,117	)			(61,688	)			(71,505	)			(65,750	)			(1,590	)			(1,590	)			(1,017,460	)			(978,431	)
Plus: OCI attributable to NCI			(33,896	)			(33,271	)			(1,755	)			(1,451	)			(3,729	)			(2,469	)			(596	)			(1,005	)			64				64				(39,912	)			(38,132	)
NCI balances			(897,301	)			(864,174	)			(14,598	)			(19,951	)			(71,846	)			(64,157	)			(72,101	)			(66,755	)			(1,526	)			(1,526	)			(1,057,372	)			(1,016,563	)

Schedule of Share Acquired by Purchases (Details)	Jun. 08, 2022 shares
Zhang Yiping [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ownership percentage of shares acquired	24.54%
Chen Xinxin [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ownership percentage of shares acquired	6.46%
Wang Yanfang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ownership percentage of shares acquired	3.23%
Liu Chen [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ownership percentage of shares acquired	3.23%
Liu Ying [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ownership percentage of shares acquired	3.08%
Zhang Yiping [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares acquired	15,189,500
Chen Xinxin [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares acquired	4,000,000
Wang Yanfang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares acquired	2,000,000
Liu Chen [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares acquired	2,000,000
Liu Ying [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares acquired	1,906,288

Schedule of Economic Benefits Ownership Percentage (Details)	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Intellegence Parking Group Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent	100.00%	100.00%
Intellegence Parking Hong Kong Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent	100.00%	100.00%
Huixin Zhiying Technology [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent	100.00%	100.00%
Zhejiang Jingbo Ecological Technology VIE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent	100.00%	100.00%
Hangzhou Zhuyi Technology Co VIE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent	100.00%	100.00%
Intellegence Parking Group Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation, date of incorporation	Jun. 29, 2022
Intellegence Parking Hong Kong Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation, date of incorporation	Jul. 20, 2022
Huixin Zhiying Technology [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation, date of incorporation	Oct. 24, 2022
Zhejiang Jingbo Ecological Technology VIE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation, date of incorporation	Dec. 18, 2019
Hangzhou Zhuyi Technology Co VIE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation, date of incorporation	Nov. 13, 2017

Organization and Principal Activities (Details Narrative) - USD ($)	Jun. 29, 2022	Jun. 08, 2022	Nov. 10, 2020	Jun. 26, 2018	Jun. 15, 2018	May 30, 2018	May 10, 2018	Mar. 19, 2018	May 18, 2017	Aug. 31, 2023	May 31, 2023	Dec. 15, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock value										$ 1,061,900	$ 1,061,900
Common stock, shares, outstanding											1,061,900,000
Stock Purchase Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock purchase agreements description			On November 10, 2020, ten (10) shareholders of the Company, including affiliates Arden Wealth & 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 42,440,316 shares of common stock of the “Company, which represents approximately 68.6% of the issued and outstanding shares of common stock of the Company
Purchase of common stock			42,440,316
Common stock issued and outstanding, percentage			68.60%
Purchase Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock issued and outstanding, percentage		40.54%
Sale of common stock shares		25,095,788
Common stock value		$ 250,958
Purchase Agreements [Member] \| Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquired issued and outstanding, percentage		4.99%
Arden Wealth and Trust [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred						16,959,684	16,959,684
HongLing Shang [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred						2,000,000	2,000,000
Jianlong Wu [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred						2,400,000	2,400,000
Zhang Yiping [Member] \| Purchase Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquired issued and outstanding, percentage		24.54%
Chen Xinxin [Member] \| Purchase Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquired issued and outstanding, percentage		6.46%
New Reap Global, Ltd [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred						559,684	559,684
New Reap Global, Ltd [Member] \| Eng Wah Kung [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred								250,000
New Reap Global, Ltd [Member] \| EMRD Global Holdings [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred					690,316
New Reap Global, Ltd [Member] \| Fortress Advisors, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred				3,000,000
New Reap Global, Ltd [Member] \| BaywallInc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted shares transferred				3,000,000
Director and CEO [Member] \| New Reap Global, Ltd [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquisition of shares									32,500,000
Equity method investment, ownership percentage									68.40%
Savmobi Technology Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Equity method investment, ownership percentage												100.00%
Number of shares issued	1,000,000,000
Zhang Guowe [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, shares, issued										200,000,000
Common stock, shares, outstanding										200,000,000

Schedule of Variable Interest Entities Financial Statements (Details)	3 Months Ended		12 Months Ended
	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	May 31, 2023 USD ($)	Jan. 15, 2023 USD ($)	Jan. 15, 2023 CNY (¥)	May 31, 2022 USD ($)	May 31, 2022 CNY (¥)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cash and cash equivalents	$ 269,959		$ 483,705
Restricted cash	12,171		10,273
Accounts receivable	457,057		409,380
Inventories	208,397		177,034
Prepaid expenses and other current assets	2,385,051		2,021,604
Plant and equipment, net	6,195,788		6,581,823
Intangible assets, net	14,734		15,543
Right-of-use assets	240,442		277,184
Other non-current assets	2,713,917		2,884,090
Total Assets	12,513,516		12,876,636
Accounts payables	777,506		775,293
Advances from customers	3,157,940		622,069
Other current payables	1,501,849		1,301,624
Operating lease liabilities, current	128,548		126,659
Long-term loan	30,215,181		32,740,623	$ 32,740,623	¥ 232,785,827.31	$ 33,211,152	¥ 221,267,008.77
Operating lease liabilities, non-current	100,827		121,555
Total Liabilities	37,447,233		36,764,281
Total (Deficit) Equity	(24,933,717)	$ (20,027,237)	(23,887,645)			$ (18,433,688)
Total Liabilities and (Deficit) Equity	12,513,516		12,876,636
Net revenues	401,904	796,377
Cost of revenues	(623,408)	(1,196,709)
Gross loss	(221,504)	(400,332)
Operating loss	(1,532,404)	(2,193,600)
Total other income and (expenses)	349	(63,541)
Loss before taxes from operations	(1,532,055)	(2,257,141)
Provision for income taxes
Net loss	(1,532,055)	(2,257,141)
Net loss attributable to VIEs	(1,532,055)	(2,257,141)
Net cash provided by/(used in) operating activities	1,143,177	(1,247,449)	(102,130)
Net cash provided by/(used in) investing activities	40,121	(682,877)
Net cash (used in)/provided by financing activities	(1,387,851)	1,902,033
Effect of exchange rate changes on cash and cash equivalents	(7,295)	(1,109)
Net increase/(decrease) of cash and cash equivalents	(211,848)	(29,402)
Cash and cash equivalents–beginning of year	493,978	108,787	108,787
Cash and cash equivalents–end of year	282,130	79,385	493,978
Related Party [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Long-term loan				$ 32,740,623	¥ 232,785,827.31
Variable Interest Entity, Primary Beneficiary [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cash and cash equivalents	251,540		401,984
Restricted cash	12,171		10,273
Accounts receivable	457,057		409,380
Inventories	208,397		177,034
Prepaid expenses and other current assets	2,409,183		2,045,736
Plant and equipment, net	6,195,788		6,581,823
Intangible assets, net	14,734		15,543
Right-of-use assets	240,442		277,184
Other non-current assets	2,713,917		2,884,090
Total Assets	12,503,229		12,803,047
Accounts payables	765,439		749,226
Advances from customers	3,157,940		622,069
Other current payables	1,501,194		1,300,969
Taxes payable	34,638		18,737
Operating lease liabilities, current	128,548		126,659
Long-term loan	30,215,181		32,740,623
Operating lease liabilities, non-current	100,827		121,555
Total Liabilities	36,420,424		36,220,735
Total (Deficit) Equity	(23,917,195)		(23,417,688)
Total Liabilities and (Deficit) Equity	12,503,229		12,803,047
Net revenues	401,904	796,377
Cost of revenues	(623,408)	(1,196,709)
Gross loss	(221,504)	(400,332)
Total costs and expenses	(764,335)	(1,779,342)
Operating loss	(985,839)	(2,179,674)
Total other income and (expenses)	349	(63,541)
Loss before taxes from operations	(985,490)	(2,243,215)
Provision for income taxes
Net loss	(985,490)	(2,243,215)
Net loss attributable to VIEs	(946,460)	(2,226,135)
Net cash provided by/(used in) operating activities	1,703,742	(1,229,376)
Net cash provided by/(used in) investing activities	40,121	(680,934)
Net cash (used in)/provided by financing activities	(1,885,114)	1,883,960
Effect of exchange rate changes on cash and cash equivalents	(7,295)	(3,052)
Net increase/(decrease) of cash and cash equivalents	(148,546)	(29,402)
Cash and cash equivalents–beginning of year	412,257	108,787	108,787
Cash and cash equivalents–end of year	263,711	$ 79,385	412,257
Variable Interest Entity, Primary Beneficiary [Member] \| Related Party [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Amounts due to related parties	$ 516,657		$ 540,897

Variable Interest Entities (Details Narrative) - CNY (¥)	Oct. 02, 2022	Jun. 29, 2022	May 12, 2022	Apr. 29, 2022	Oct. 14, 2021	May 18, 2021	Jul. 04, 2019
Hangzhou Zhuyi Technology Co [Member]
Number of shares issued		¥ 60,000,000
Ling lingyi [Member]
Share based compensation percentage				100.00%
Liangshan [Member]
Share based compensation percentage	26.00%
Hangzhou Zhuyi [Member]
Share based compensation percentage	67.00%		90.00%		67.00%	72.00%	80.00%

Schedule of Foreign Currency Translation (Details) - China, Yuan Renminbi	Aug. 31, 2023	May 31, 2023	Aug. 31, 2022
Period and year end RMB: US$ exchange rate	7.2582	7.1100	6.8924
Period and annual average RMB: US$ exchange rate	7.2005	6.9185	6.7410

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	May 31, 2023	May 31, 2022
Accounting Policies [Abstract]
Net loss	$ 1,532,055	$ 2,257,141
Stockholders equity deficit	24,933,717	20,027,237	$ 23,887,645	$ 18,433,688
Net cash provided by operating activities	1,143,177	(1,247,449)	(102,130)
Net loss	1,493,025	2,240,061	6,783,522
Net cash provided by operating activities	$ (1,143,177)	$ 1,247,449	$ 102,130

Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)

Aug. 31, 2023

May 31, 2023

Prepaid Expenses And Other Current Assets

$ 844,949

$ 591,277

Prepayment for rental

^[1]

427,103

438,256

375,976

366,478

Loan receivable

^[2]

331,747

342,882

Advances to employees

68,822

125,508

152,870

157,164

183,584

39

$ 2,385,051

$ 2,021,604

[1]	Prepayment for rental included a rental agreement of parking lot with a third party. The contract became effective on January 1, 2021 and will end on December 31, 2030. The Company has paid full rent as of August 31, 2023.
[2]	Loan receivables are loans borrow to third parties. All loans are interest free and will be repaid on demand.

Schedule of Property and Equipment (Details)

3 Months Ended

Aug. 31, 2023

USD ($)

Property, Plant and Equipment [Line Items]

Beginning balance, cost

$ 9,534,924

Additions during the year

100,489

Disposals during the year

(175,999)

Effects of currency translation

(194,087)

Ending balance, cost

9,265,327

Beginning balance, Accumulated depreciation

2,953,101

Depreciation during the year

199,661

Disposals during the year

(21,508)

Effects of currency translation

(61,715)

Ending balance, Accumulated depreciation

3,069,539

Beginning balance, Net book value

6,581,823

Ending balance, Net book value

6,195,788

Furniture and Fixtures [Member]

Property, Plant and Equipment [Line Items]

Beginning balance, cost

962,271

Additions during the year

10,379

Disposals during the year

(16,002)

Effects of currency translation

(19,603)

Ending balance, cost

937,045

Beginning balance, Accumulated depreciation

902,974

Depreciation during the year

39,554

Disposals during the year

(15,202)

Effects of currency translation

(18,631)

Ending balance, Accumulated depreciation

908,695

Beginning balance, Net book value

59,297

Ending balance, Net book value

28,350

Building [Member]

Property, Plant and Equipment [Line Items]

Beginning balance, cost

4,437,065

^[1]

Additions during the year

^[1]

Disposals during the year

^[1]

Effects of currency translation

(90,597)

^[1]

Ending balance, cost

4,346,468

^[1]

Beginning balance, Accumulated depreciation

579,952

^[1]

Depreciation during the year

52,028

^[1]

Disposals during the year

^[1]

Effects of currency translation

(24,541)

^[1]

Ending balance, Accumulated depreciation

607,439

^[1]

Beginning balance, Net book value

3,857,113

^[1]

Ending balance, Net book value

3,739,029

^[1]

Vehicles [Member]

Property, Plant and Equipment [Line Items]

Beginning balance, cost

123,212

Additions during the year

1,944

Disposals during the year

Effects of currency translation

(2,531)

Ending balance, cost

122,625

Beginning balance, Accumulated depreciation

106,927

Depreciation during the year

3,084

Disposals during the year

Effects of currency translation

(2,208)

Ending balance, Accumulated depreciation

107,803

Beginning balance, Net book value

16,285

Ending balance, Net book value

14,822

Project Facilities [Member]

Property, Plant and Equipment [Line Items]

Beginning balance, cost

3,039,646

Additions during the year

40,359

Disposals during the year

(10,613)

Effects of currency translation

(62,301)

Ending balance, cost

3,007,091

Beginning balance, Accumulated depreciation

1,363,248

Depreciation during the year

104,995

Disposals during the year

(6,306)

Effects of currency translation

(16,335)

Ending balance, Accumulated depreciation

1,445,602

Beginning balance, Net book value

1,676,398

Ending balance, Net book value

1,561,489

Construction in Progress [Member]

Property, Plant and Equipment [Line Items]

Beginning balance, cost

972,730

^[2]

Additions during the year

47,807

^[2]

Disposals during the year

(149,384)

^[2]

Effects of currency translation

(19,055)

^[2]

Ending balance, cost

852,098

^[2]

Beginning balance, Accumulated depreciation

^[2]

Depreciation during the year

^[2]

Disposals during the year

^[2]

Effects of currency translation

^[2]

Ending balance, Accumulated depreciation

^[2]

Beginning balance, Net book value

972,730

^[2]

Ending balance, Net book value

$ 852,098

^[2]

[1]	Address of the building is Building B8, China Zhigu Fuchun, Yinhu Village, Shoujiang town, Fuyang District, China
[2]	The Company has 6 constructions in progress in total. 5 constructions, related to parking lots, are expected to be completed in one year. Upon completion, these constructions will be transferred to project facilities. The remaining one construction does not yet have an estimate time of completion.

Schedule of Intangible Assets (Details)	3 Months Ended
Schedule of Intangible Assets (Details)	Aug. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance, cost	$ 28,529
Additions during the period
Disposals during the period
Effects of currency translation	(583)
Ending balance, cost	27,946
Beginning balance, Accumulated depreciation	12,986
Depreciation during the period	495
Disposals during the period
Effects of currency translation	(269)
Ending balance, Accumulated depreciation	13,212
Beginning balance, Net book value	15,543
Ending balance, Net book value	$ 14,734

Schedule of Right of Use Assets (Details) - USD ($)	3 Months Ended
Schedule of Right of Use Assets (Details) - USD ($)	Aug. 31, 2023	May 31, 2023
Right-of-use Assets
Cost, beginning balance	$ 2,118,650
Cost, Additions during the period
Write-off during the year
Cost, Effects of currency translation	(43,259)
Cost, ending balance	2,075,391
Accumulated depreciation, beginning balance	1,841,466
Accumulated depreciation, Depreciation during the period	31,331
Accumulated depreciation write-off during the period
Accumulated depreciation, Effects of currency translation	(37,848)
Accumulated depreciation, ending balance	1,834,949
Net book value	$ 240,442	$ 277,184

Schedule of Other Payable and Accruals (Details) - USD ($)

Aug. 31, 2023

May 31, 2023

Payables and Accruals [Abstract]

Accrued payroll and welfare payables

$ 462,164

$ 338,657

26,904

27,194

337,550

344,585

^[1]

675,231

591,188

$ 1,501,849

$ 1,301,624

[1]	Other mainly included collection of parking fees on behalf of a third party.

Schedule of Related Party Transactions (Details) - USD ($)	3 Months Ended
	Aug. 31, 2023	May 31, 2023
Intellegence Triumph Holdings Limited [Member]
Related Party Transaction [Line Items]
Due from related party	$ 5,000	$ 5,000
Related party relationship	Former shareholder
Virtue Victory Holdings Limited [Member]
Related Party Transaction [Line Items]
Due from related party	$ 5,200	5,200
Related party relationship	Former shareholder
Strength Union Holdings Limited [Member]
Related Party Transaction [Line Items]
Due from related party	$ 5,800	5,800
Related party relationship	Former shareholder
Guowei Zhang [Member]
Related Party Transaction [Line Items]
Related party relationship	President of the Company
Shaoxing Keqiao Zhuyi Technology Co., Ltd	$ 1,529,244	1,056,221
Xinxin Chen [Member]
Related Party Transaction [Line Items]
Related party relationship	Former shareholder
Shaoxing Keqiao Zhuyi Technology Co., Ltd	$ 1,500	1,500
Shaoxing Keqiao Zhuyi Technology Co., Ltd [Member]
Related Party Transaction [Line Items]
Related party relationship	An entity controlled by a shareholder
Shaoxing Keqiao Zhuyi Technology Co., Ltd	$ 30,215,181	$ 32,740,623

Schedule of Related Party Amount Transferred to Creditor (Details) - Jan. 15, 2023	USD ($)	CNY (¥)
Related Party Transaction [Line Items]
Transferred amounts	$ 32,952,046	¥ 234,289,035.38
Hangzhou Chiyi Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	4,219,409	30,000,000.00
Hangzhou Chuangzhu Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	1,420,139	10,097,186.49
Hangzhou HongKuo Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	5,879,410	41,802,605.93
Hangzhou Hongying Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	1,406,470	10,000,000.00
Hangzhou Liujin Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	5,327,769	37,880,435.02
Hangzhou Ruiqi Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	6,118,143	43,500,000.00
Hangzhou Zhusheng Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	2,812,940	20,000,000.00
Hangzhou Zhuyuan Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts	2,812,940	20,000,000.00
Hangzhou Jizhong Ecological Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts	1,329,162	9,450,338.82
Hangzhou Liujin Enterprise Management Partnership Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts	281,294	2,000,000.00
Hangzhou Renyigou E-Commerce Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts	717,300	5,100,000.00
Hangzhou Yixin Supply Chain Management Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts	562,588	4,000,000.00
Hangzhou Zhizhu Parking Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts	64,482	458,469.12
Related Party [Member]
Related Party Transaction [Line Items]
Transferred amounts	$ 32,952,046	¥ 234,289,035.38

Schedule of Related Party Amount Before Transfers and Final Amounts Being Transferred (Details)	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)	Jan. 15, 2023 USD ($)	Jan. 15, 2023 CNY (¥)	May 31, 2022 USD ($)	May 31, 2022 CNY (¥)
Related Party Transaction [Line Items]
Transferred amounts, Gross			$ 32,952,046	¥ 234,289,035.38
Transferred amounts, Offset				(21,318,081.01)
Transferred amounts, Increase				19,814,872.94
Transferred amounts, Net	$ 30,215,181	$ 32,740,623	32,740,623	232,785,827.31	$ 33,211,152	¥ 221,267,008.77
Hangzhou Chiyi Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			4,219,409	30,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			4,219,409	30,000,000.00
Hangzhou Chuangzhu Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			1,420,139	10,097,186.49
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			1,420,139	10,097,186.49
Hangzhou HongKuo Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			5,879,410	41,802,605.93
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			5,879,410	41,802,605.93
Hangzhou Hongying Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			1,406,470	10,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			1,406,470	10,000,000.00
Hangzhou Liujin Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			5,327,769	37,880,435.02
Transferred amounts, Offset
Transferred amounts, Increase				8,652,951.79
Transferred amounts, Net			6,544,780	46,533,386.81
Hangzhou Liujin Enterprise Management Partnership Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			281,294	2,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase				6,427,428.49
Transferred amounts, Net			1,185,292	8,427,428.49
Hangzhou Ruiqi Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			6,118,143	43,500,000.00
Transferred amounts, Offset				(2,309,273.07)
Transferred amounts, Increase				4,734,492.66
Transferred amounts, Net			6,459,243	45,925,219.59
Hangzhou Zhusheng Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			2,812,940	20,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			2,812,940	20,000,000.00
Hangzhou Zhuyuan Enterprise Management Partnership [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			2,812,940	20,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			2,812,940	20,000,000.00
Hangzhou Jizhong Ecological Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			1,329,162	9,450,338.82
Transferred amounts, Offset				(9,450,338.82)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Renyigou E-Commerce Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			717,300	5,100,000.00
Transferred amounts, Offset				(5,100,000.00)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Yixin Supply Chain Management Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			562,588	4,000,000.00
Transferred amounts, Offset				(4,000,000.00)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Zhizhu Parking Co., Ltd. [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			64,482	458,469.12
Transferred amounts, Offset				(458,469.12)
Transferred amounts, Increase
Transferred amounts, Net
Related Party [Member]
Related Party Transaction [Line Items]
Transferred amounts, Gross			32,952,046	234,289,035.38
Transferred amounts, Offset				(21,318,081.01)
Transferred amounts, Increase				19,814,872.94
Transferred amounts, Net			$ 32,740,623	¥ 232,785,827.31

Related Party Transactions (Details Narrative)		3 Months Ended		12 Months Ended
Related Party Transactions (Details Narrative)	Oct. 01, 2019 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2023 CNY (¥)	May 31, 2023 USD ($)	Jan. 15, 2023 USD ($)	Jan. 15, 2023 CNY (¥)	Sep. 01, 2022 USD ($)	Sep. 01, 2022 CNY (¥)	May 31, 2022 USD ($)	May 31, 2022 CNY (¥)	Sep. 01, 2020 USD ($)	Sep. 01, 2020 CNY (¥)	Oct. 01, 2019 CNY (¥)
Related Party Transaction [Line Items]
Due from related parties		$ 498,266		$ 713,753
Repayments of related party debt		14,305		16,552
Long term loans		$ 30,215,181		$ 32,740,623	$ 32,740,623	¥ 232,785,827.31			$ 33,211,152	¥ 221,267,008.77
Long term debt description		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.	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.
Shaoxin Keqiao Zhuyi Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Repayments		$ 1,871,812	¥ 13,478,000
First Loan [Member]
Related Party Transaction [Line Items]
Long term loans									30,305,855	201,909,728.77
Second Loan [Member]
Related Party Transaction [Line Items]
Long term loans									$ 2,905,297	¥ 19,357,280
Loan Agreements [Member] \| Beijing Zhibo [Member]
Related Party Transaction [Line Items]
Debt term	3 years
Maximum borrowing	$ 45,028,818												¥ 300,000,000
Maximum borrowing, rate	3.60%
Percentage of borrowings outstanding rate	25.00%
Debt face amount							$ 3,302,098	¥ 22,000,000			$ 3,302,098	¥ 22,000,000

Schedule of Income Tax Expenses (Benefits) (Details) - USD ($)	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Loss before tax	$ (1,532,055)	$ (2,257,141)
Tax credit calculated at statutory tax rate	(383,014)	(564,285)
Effect of different tax rates	21,863	557
Deferred tax asset not recognized during the period/year	361,151	563,728
Income tax expenses

Income Taxes (Details Narrative)	3 Months Ended
Income Taxes (Details Narrative)	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	25.00%

Schedule of Long-Term Borrowings Amount Transferred to Creditor (Details) - Jan. 15, 2023	USD ($)	CNY (¥)
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	$ 32,952,046	¥ 234,289,035.38
Hangzhou Chiyi Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	4,219,409	30,000,000.00
Hangzhou Chuangzhu Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	1,420,139	10,097,186.49
Hangzhou HongKuo Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	5,879,410	41,802,605.93
Hangzhou Hongying Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	1,406,470	10,000,000.00
Hangzhou Liujin Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	5,327,769	37,880,435.02
Hangzhou Ruiqi Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	6,118,143	43,500,000.00
Hangzhou Zhusheng Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	2,812,940	20,000,000.00
Hangzhou Zhuyuan Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	2,812,940	20,000,000.00
Hangzhou Jizhong Ecological Technology Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	1,329,162	9,450,338.82
Hangzhou Liujin Enterprise Management Partnership Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	281,294	2,000,000.00
Hangzhou Renyigou E-Commerce Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	717,300	5,100,000.00
Hangzhou Yixin Supply Chain Management Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	562,588	4,000,000.00
Hangzhou Zhizhu Parking Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts	$ 64,482	¥ 458,469.12

Schedule of Long-Term Borrowings Amount Before Transfers and Final Amounts Being Transferred (Details)	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)	Jan. 15, 2023 USD ($)	Jan. 15, 2023 CNY (¥)	May 31, 2022 USD ($)	May 31, 2022 CNY (¥)
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			$ 32,952,046	¥ 234,289,035.38
Transferred amounts, Offset				(21,318,081.01)
Transferred amounts, Increase				19,814,872.94
Transferred amounts, Net	$ 30,215,181	$ 32,740,623	32,740,623	232,785,827.31	$ 33,211,152	¥ 221,267,008.77
Hangzhou Chiyi Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			4,219,409	30,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			4,219,409	30,000,000.00
Hangzhou Chuangzhu Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			1,420,139	10,097,186.49
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			1,420,139	10,097,186.49
Hangzhou HongKuo Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			5,879,410	41,802,605.93
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			5,879,410	41,802,605.93
Hangzhou Hongying Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			1,406,470	10,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			1,406,470	10,000,000.00
Hangzhou Liujin Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			5,327,769	37,880,435.02
Transferred amounts, Offset
Transferred amounts, Increase				8,652,951.79
Transferred amounts, Net			6,544,780	46,533,386.81
Hangzhou Liujin Enterprise Management Partnership Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			281,294	2,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase				6,427,428.49
Transferred amounts, Net			1,185,292	8,427,428.49
Hangzhou Ruiqi Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			6,118,143	43,500,000.00
Transferred amounts, Offset				(2,309,273.07)
Transferred amounts, Increase				4,734,492.66
Transferred amounts, Net			6,459,243	45,925,219.59
Hangzhou Zhusheng Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			2,812,940	20,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			2,812,940	20,000,000.00
Hangzhou Zhuyuan Enterprise Management Partnership [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			2,812,940	20,000,000.00
Transferred amounts, Offset
Transferred amounts, Increase
Transferred amounts, Net			2,812,940	20,000,000.00
Hangzhou Jizhong Ecological Technology Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			1,329,162	9,450,338.82
Transferred amounts, Offset				(9,450,338.82)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Renyigou E-Commerce Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			717,300	5,100,000.00
Transferred amounts, Offset				(5,100,000.00)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Yixin Supply Chain Management Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			562,588	4,000,000.00
Transferred amounts, Offset				(4,000,000.00)
Transferred amounts, Increase
Transferred amounts, Net
Hangzhou Zhizhu Parking Co., Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Transferred amounts, Gross			64,482	458,469.12
Transferred amounts, Offset				(458,469.12)
Transferred amounts, Increase
Transferred amounts, Net

Long-term Borrowings (Details Narrative)		3 Months Ended
Long-term Borrowings (Details Narrative)	Oct. 01, 2019 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2023 CNY (¥)	May 31, 2023 USD ($)	Jan. 15, 2023 USD ($)	Jan. 15, 2023 CNY (¥)	Sep. 01, 2022 USD ($)	Sep. 01, 2022 CNY (¥)	May 31, 2022 USD ($)	May 31, 2022 CNY (¥)	Sep. 01, 2020 USD ($)	Sep. 01, 2020 CNY (¥)	Oct. 01, 2019 CNY (¥)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long term loans		$ 30,215,181		$ 32,740,623	$ 32,740,623	¥ 232,785,827.31			$ 33,211,152	¥ 221,267,008.77
Long term debt description		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.	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.
Shaoxin Keqiao Zhuyi Technology Co., Ltd. [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Repayments		$ 1,871,812	¥ 13,478,000
First Loan [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long term loans									30,305,855	201,909,728.77
Second Loan [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long term loans									$ 2,905,297	¥ 19,357,280
Loan Agreements [Member] \| Beijing Zhibo [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt term	3 years
Maximum borrowing	$ 45,028,818												¥ 300,000,000
Maximum borrowing, rate	3.60%
Percentage of borrowings outstanding rate	25.00%
Debt face amount							$ 3,302,098	¥ 22,000,000			$ 3,302,098	¥ 22,000,000

Schedule of Future Minimum Payments Under Long Term Non-Cancellable Operating Lease (Details) - USD ($)	Aug. 31, 2023	May 31, 2023
Leases
Within 1 year	$ 136,659	$ 136,710
After 1 year but within 5 years	105,791	127,793
Total lease payments	242,450	264,503
Less: imputed interest	(13,075)	(16,289)
Total lease obligations	229,375	248,214
Less: current obligations	(128,548)	(126,659)
Long-term lease obligations	$ 100,827	$ 121,555

Leases (Details Narrative) - USD ($)	Aug. 31, 2023	May 31, 2023
Leases
Right of use of assets	$ 240,442	$ 277,184
Operating lease liabilities current	128,548	126,659
Operating lease liabilities	$ 100,827	$ 121,555

Schedule of Non Controlling Ownership Interest (Details) - USD ($)	Aug. 31, 2023	May 31, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI balances	$ (1,057,372)	$ (1,016,563)
Liangshan [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI ownership interest	33.00%	33.00%
NCI balances	$ (897,301)	$ (864,174)
Yibin [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI ownership interest	20.00%	20.00%
NCI balances	$ (14,598)	$ (19,951)
Xide [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI ownership interest	33.00%	33.00%
NCI balances	$ (71,846)	$ (64,157)
Taining [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI ownership interest	28.00%	28.00%
NCI balances	$ (72,101)	$ (66,755)
Anping [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
NCI ownership interest	10.00%	10.00%
NCI balances	$ (1,526)	$ (1,526)

Schedule of Statement of Financial Positions (Details) - USD ($)	Aug. 31, 2023	May 31, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets	$ 9,164,881	$ 9,758,640
Current assets	3,348,635	3,117,996
Current liabilities	(7,131,225)	(3,902,103)
Non-current liabilities	(30,316,008)	(32,862,178)
Accumulated Deficits	(34,244,374)	(32,751,349)
NCI balances	(1,057,372)	(1,016,563)
Noncontrolling Interest [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets	533,349	594,287
Current assets	132,646	136,740
Current liabilities	(1,205,785)	(1,164,608)
Non-current liabilities	(59,536)	(66,590)
Net Assets	(599,326)	(500,171)
Less: Zhuyi capital and additional paid-in capital	(2,429,375)	(2,429,376)
Less: OCI	(129,590)	(118,500)
Accumulated Deficits	(3,158,291)	(3,048,047)
Accumulated Deficits attributable to NCI	(1,017,460)	(978,431)
Plus: OCI attributable to NCI	(39,912)	(38,132)
NCI balances	(1,057,372)	(1,016,563)
Liangshan [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets	350,376	391,073
Current assets	99,175	102,279
Current liabilities	(796,425)	(748,450)
Non-current liabilities	(59,536)	(60,039)
Net Assets	(406,410)	(315,137)
Less: Zhuyi capital and additional paid-in capital	(2,101,929)	(2,101,930)
Less: OCI	(108,039)	(100,820)
Accumulated Deficits	(2,616,378)	(2,517,887)
Accumulated Deficits attributable to NCI	(863,405)	(830,903)
Plus: OCI attributable to NCI	(33,896)	(33,271)
NCI balances	(897,301)	(864,174)
Yibin [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets
Current assets	1,579	1,617
Current liabilities	(57,025)	(86,863)
Non-current liabilities
Net Assets	(55,446)	(85,246)
Less: Zhuyi capital and additional paid-in capital
Less: OCI	(8,771)	(7,255)
Accumulated Deficits	(64,217)	(92,501)
Accumulated Deficits attributable to NCI	(12,843)	(18,500)
Plus: OCI attributable to NCI	(1,755)	(1,451)
NCI balances	(14,598)	(19,951)
Xide [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets	44,911	49,521
Current assets	9,082	9,276
Current liabilities	(249,109)	(238,248)
Non-current liabilities
Net Assets	(195,116)	(179,451)
Less: Zhuyi capital and additional paid-in capital
Less: OCI	(11,300)	(7,482)
Accumulated Deficits	(206,416)	(186,933)
Accumulated Deficits attributable to NCI	(68,117)	(61,688)
Plus: OCI attributable to NCI	(3,729)	(2,469)
NCI balances	(71,846)	(64,157)
Taining [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets	138,062	153,693
Current assets	22,809	23,567
Current liabilities	(103,226)	(91,047)
Non-current liabilities		(6,551)
Net Assets	57,645	79,662
Less: Zhuyi capital and additional paid-in capital	(310,895)	(310,895)
Less: OCI	(2,126)	(3,589)
Accumulated Deficits	(255,376)	(234,822)
Accumulated Deficits attributable to NCI	(71,505)	(65,750)
Plus: OCI attributable to NCI	(596)	(1,005)
NCI balances	(72,101)	(66,755)
Anping [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-current assets
Current assets	1	1
Current liabilities
Non-current liabilities
Net Assets	1	1
Less: Zhuyi capital and additional paid-in capital	(16,551)	(16,551)
Less: OCI	646	646
Accumulated Deficits	(15,904)	(15,904)
Accumulated Deficits attributable to NCI	(1,590)	(1,590)
Plus: OCI attributable to NCI	64	64
NCI balances	$ (1,526)	$ (1,526)

Reserves (Details Narrative)	3 Months Ended
Reserves (Details Narrative)	Aug. 31, 2023
Reserves
Statutory reserve description	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.

Quantitative and Qualitative Disclosure about Market Risks (Details Narrative)	3 Months Ended
	Aug. 31, 2023 USD ($)
Quantitative And Qualitative Disclosure About Market Risks
Annual interest rate	3.64%
Interest expense	$ 1,100,000
Interest rate increase decrease	10.00%
Increase decrease in interest expense	$ 109,983

Jingbo Technology (PK) (USOTC:SVMB)
Historical Stock Chart
From Oct 2024 to Nov 2024

Click Here for more Jingbo Technology (PK) Charts.

Jingbo Technology (PK) (USOTC:SVMB)
Historical Stock Chart
From Nov 2023 to Nov 2024

Click Here for more Jingbo Technology (PK) Charts.

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Share on Facebook Share on Twitter Share on Email

Loading Messages....

See More Message Board Posts

Savmobi Technology Inc (CE) News

More Savmobi Technology Inc (CE) News Articles

North Bay Resources (PK)

Kraig Biocraft Laborator... (QB)

Northwest Biotherapeutics (QB)

Anavex Life Sciences

Digital Brand Media and ... (PK)

Bioelectronics (PK)

Intergrated Cannabis Sol... (PK)

Elite Pharmaceuticals (QB)

Lightwave Logic

Fannie Mae (QB)

Delayed Upgrade Clock

Support: 1-888-992-3836 | support@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions