Property and equipment, net, consisted of the followings:


	As of
	February 28, 2025		February 28, 2026
	RMB		RMB		USD
Construction and buildings		116,070		116,456		16,981
Leasehold improvement		8,827		9,671		1,410
Motor vehicles		1,634		1,634		238
Electronic equipment		4,334		4,134		603
Office equipment & furniture		6,787		6,832		996
Construction in progress		471		—		—
Total		138,123		138,727		20,228
Less: accumulated depreciation		12,895		18,153		2,646
Property and equipment, net		125,228		120,574		17,582

The construction and buildings as of February 28, 2025 and 2026, are mainly the study camps in Wuyuan, Jiangxi, which were mainly completed in July 2024 and November 2024.

For the years ended February 29, 2024, February 28, 2025 and 2026, depreciation expenses were RMB3,735, RMB3,617 and RMB6,242 (US$910), respectively.

The Group recorded impairment loss for property and equipment of RMB3,674 ,nil and nil for the years ended February 29, 2024, February 28, 2025 and 2026, respectively. The impairment loss for the year ended February 29, 2024 arose as a result of the plan to cease the operation of several study camps.