Jingbo Technology (Jingbo Technology) Long-Term Capital Lease Obligation : $0.03 Mil (As of Nov. 2023)

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What is Jingbo Technology Long-Term Capital Lease Obligation?

Jingbo Technology's Long-Term Capital Lease Obligation for the quarter that ended in Nov. 2023 was $0.03 Mil.

Jingbo Technology's quarterly Long-Term Capital Lease Obligation declined from May. 2023 ($0.12 Mil) to Aug. 2023 ($0.10 Mil) and declined from Aug. 2023 ($0.10 Mil) to Nov. 2023 ($0.03 Mil).

Jingbo Technology's annual Long-Term Capital Lease Obligation increased from May. 2021 ($0.00 Mil) to May. 2022 ($0.30 Mil) but then declined from May. 2022 ($0.30 Mil) to May. 2023 ($0.12 Mil).

Jingbo Technology Long-Term Capital Lease Obligation Historical Data

The historical data trend for Jingbo Technology's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Jingbo Technology Long-Term Capital Lease Obligation Chart

Jingbo Technology Annual Data

Trend

May15

May16

May17

May18

May19

May20

May21

May22

May23

Long-Term Capital Lease Obligation

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0.30

0.12

Jingbo Technology Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	0.21	0.12	0.10	0.03

Jingbo Technology (OTCPK:SVMB) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Jingbo Technology (Jingbo Technology) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » Jingbo Technology Inc (OTCPK:SVMB) » Definitions » Long-Term Capital Lease Obligation

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Address

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

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SavMobi Technology Inc is a china based company engaged in the provision of commercial mobile technical support services.

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