v3.26.1
Related Party Transactions
 12 Months Ended
Feb. 28, 2026
Related Party Transactions [Abstract]  
Related Party Transactions

14. RELATED PARTY TRANSACTIONS

The table below sets forth the major related parties and their relationships with the Group:

Name of related parties

 

Relationship with the group

Four Seasons Online Education (Cayman) Inc.("FSOL")

Equity method investee of the Group

Shanghai Yanjin Information Technology Co., Ltd. ("VIP Sing")

Equity method investee of the Group

Four Seasons Online Education (HK) Inc.("FSOL (HK)")

 

Equity method investee of the Group

Shanghai Fuxi Network Co., Ltd.("Fuxi Network")

 

Equity method investee of the Group

Shanghai Jiaxin Travel Agency ("Jiaxin Travel")

 

Entity controlled by Tian Peiqing, Chairman of the Group

Shanghai Jing’an Dangdai Art Training School ("Dangdai")

 

Entity Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

Huangshan Culture Investment Group Co., Ltd. ("Huangshan Culture")

 

Non-controlling interest shareholder of VIE's subsidiary

Ju Yiming, Yang Huining, Ma Lichao, Yang Hongguan, Tao Jingyu

 

Non-controlling interest shareholders of VIE's subsidiaries

Shanghai Four Season Online School ("SHFSOS")

 

Entity Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

East China Normal University Electronic and Audio-visual Publishing House ("ESNU E&A Publishing")

 

Wholly-owned subsidiary of the non-controlling shareholder of the Group

Shanghai Jiading Four Seasons Bole Training School ("Bole")

 

Entity Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

East China Normal University Publishing House ("ESNU Publishing")

 

Non-controlling interest shareholders of VIE's subsidiaries

Shanghai Changning Four Seasons Training School ("Changning FSTS")

 

Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

Shanghai Minhang Four Seasons Culture Training School ("Minhang FSCS")

 

Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

Shanghai Xinhao Consulting Management Co., Ltd ("Xinhao Consulting")

 

Non-controlling interest shareholder of the Group

Shanghai Xuhui Four Seasons Training School ("Xuhui FSTS")

 

Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

Shanghai Pudong New District Four Seasons Educational Training School ("Pudong FSETS")

 

Sponsored by Shanghai Jiaxin Travel Agency, Entity controlled by Tian Peiqing, Chairman of the Group

Jiangxi Wuyuan Tourism Co., Ltd ("Wuyuan Tourism")

 

Non-controlling interest shareholder of the Group

Yichang Changle Urban Construction Investment and Development Co., LTD (Yichang Changle)

 

Non-controlling interest shareholders

 

The Group entered into the following transactions with its related parties:

 

 

For the Years Ended

 

 

 

February 29

 

 

February 28

 

 

February 28

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

Services provided to related parties

 

 

 

 

 

 

 

 

 

 

 

 

Jiaxin Travel (1)

 

 

1,153

 

 

 

7

 

 

 

—

 

 

 

—

 

SHFSOS (2)

 

 

884

 

 

 

—

 

 

 

—

 

 

 

—

 

Dangdai (3)

 

 

246

 

 

 

413

 

 

 

14

 

 

 

2

 

ESNU Publishing (4)

 

 

56

 

 

 

—

 

 

 

—

 

 

 

—

 

Bole (5)

 

 

30

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

2,369

 

 

 

420

 

 

 

14

 

 

 

2

 

Purchases of services provided by related parties

 

 

 

 

 

 

 

 

 

 

 

 

SHFSOS (2)

 

 

253

 

 

 

6,593

 

 

 

—

 

 

 

—

 

ESNU E&A Publishing (4)

 

 

146

 

 

 

94

 

 

 

179

 

 

 

26

 

Xinhao Consulting(6)

 

 

—

 

 

 

300

 

 

 

1,360

 

 

 

198

 

Wuyuan Tourism(7)

 

 

—

 

 

 

1,232

 

 

 

796

 

 

 

116

 

Total

 

 

399

 

 

 

8,219

 

 

 

2,335

 

 

 

340

 

Short-term lease and comprehensive revenue services from related parties

 

 

 

 

 

 

 

 

 

 

 

 

Bole (5)

 

 

1,085

 

 

 

2,800

 

 

 

1,300

 

 

 

190

 

Changning FSTS (8)

 

 

—

 

 

 

1,800

 

 

 

2,000

 

 

 

292

 

Minhang FSCS (8)

 

 

—

 

 

 

600

 

 

 

1,100

 

 

 

160

 

Xuhui FSTS(8)

 

 

—

 

 

 

1,600

 

 

 

—

 

 

 

—

 

Pudong FSETS (8)

 

 

—

 

 

 

—

 

 

 

1,600

 

 

 

233

 

Dangdai (3)

 

 

3,025

 

 

 

4,300

 

 

 

1,200

 

 

 

175

 

Total

 

 

4,110

 

 

 

11,100

 

 

 

7,200

 

 

 

1,050

 

Loan to related parties

 

 

 

 

 

 

 

 

 

 

 

 

Dangdai (9)

 

 

3,785

 

 

 

—

 

 

 

—

 

 

 

—

 

Bole (9)

 

 

300

 

 

 

—

 

 

 

—

 

 

 

—

 

Pudong FSETS (9)

 

 

—

 

 

 

—

 

 

 

800

 

 

 

117

 

Non-controlling interest shareholders of subsidiaries (9)

 

 

583

 

 

 

—

 

 

 

—

 

 

 

—

 

Others (9)

 

 

95

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

4,763

 

 

 

—

 

 

 

800

 

 

 

117

 

(1) The Group provided tourism service to Jiaxin Travel.

(2) The Group provided course design and development services, digital learning system, student management platform and promotional assistance service to SHFSOS, and charged service fee accordingly. The Group also purchased IT support service from SHFSOS and purchased learning service for the online course from SHFSOS and recognized related cost of revenue.

(3) The Group sold textbooks for the course 'Math point to point' to Shanghai Jing'an Dangdai Art Training School ('Dangdai') and recognized related revenue. The Group also rent operation space from Dangdai, and purchased school reception, management, and cleaning service from Dangdai and recognized related cost of revenue.

(4) The Group charged service fee from ESNU E&A Publishing for the copyright use of the Group's self-developed book series. The Group also purchased printing service for the self-developed book series from ESNU E&A Publishing and recognized related expense.

(5) The Group provided labor outsourcing service to Bole and recognizes related revenue. The Group also rent operation space from Bole, and purchased school reception, management, and cleaning service from Bole and recognized related cost of revenue.

(6) The Group purchased comprehensive consulting service from Xinhao Consulting and recognized related expense.

(7) The Group paid Wuyuan Tourism for the resource usage fee in Wuyuan and recognized related cost of revenue.

(8) The Group rent operation space, and purchased school reception, management, and cleaning service from Changning FSTS, Minhang FSCS and Xuhui FSTS and recognized related cost of revenue.

(9) The Group makes loans to related parties to support their daily operations. The loans are interest-free, unsecured, and due on demand.

The following tables present amounts due from and to related parties as of February 28, 2025 and 2026:

 

 

As of

 

 

 

February 28,

 

 

February 28,

 

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

USD

 

Amount due from related parties

 

 

 

 

 

 

 

 

 

Pudong FSETS (1)

 

 

—

 

 

 

800

 

 

 

117

 

Dangdai (2)

 

 

1,124

 

 

 

—

 

 

 

—

 

ESNU E&A Publishing (3)

 

 

1,625

 

 

 

—

 

 

 

—

 

Non-controlling interest shareholders of VIE’s subsidiaries (4)

 

 

582

 

 

 

583

 

 

 

85

 

Total

 

 

3,331

 

 

 

1,383

 

 

 

202

 

Amounts due to related parties

 

 

 

 

 

 

 

 

 

FSOL (Cayman) (5)

 

 

1,252

 

 

 

1,208

 

 

 

176

 

Changning FSTS (6)

 

 

400

 

 

 

—

 

 

 

—

 

Minhang FSCS (7)

 

 

300

 

 

 

—

 

 

 

—

 

Xinhao Consulting (8)

 

 

300

 

 

 

600

 

 

 

87

 

Bole (9)

 

 

500

 

 

 

—

 

 

 

—

 

Dangdai (10)

 

 

500

 

 

 

—

 

 

 

—

 

ESNU E&A Publishing (11)

 

 

468

 

 

 

—

 

 

 

—

 

Wuyuan Tourism (12)

 

 

1,232

 

 

 

253

 

 

 

37

 

Non-controlling interest shareholders of VIE's subsidiaries (13)

 

 

300

 

 

 

300

 

 

 

44

 

Yichang Changle (14)

 

 

—

 

 

 

2,648

 

 

 

386

 

Others

 

 

4

 

 

 

—

 

 

 

—

 

Total

 

 

5,256

 

 

 

5,009

 

 

 

730

 

 

(1) The amount represents the receivable from course design and development services, digital learning system, student management platform and promotional assistance service provided to SHFSOS.

(2) The amount mainly represents the loan lent to Dangdai. The Group recorded a full allowance and write-off of RMB1,090 (US$159) in amount due from Dangdai as it’s determined to be uncollectible in the year ended February 28, 2026.

(3) The amount represents the prepayments for book printing service provided by ESNU E&A Publishing. The Group recorded a full allowance and write-off of RMB1,013 (US$148) in amount due from ESNU E&A Publishing as it’s determined to be uncollectible in the year ended February 28, 2026.

(4) The amount represents the loans to non-controlling shareholders, which were interest-free, unsecured, and due on demand.

(5) The amount represents the Group’s deposit in bank on behalf of the FSOL (CAYMAN).

(6) The amount represents the Group's payable to Changning FSTS for short-term lease and auxiliary service cost.

(7) The amount represents the Group's payable to Minhang FSCS for short-term lease and auxiliary service cost.

(8) The amount represents the Group's payable to Xinhao Consulting for comprehensive consulting services.

(9) The amount represents the Group's payable to Bole for short-term lease and auxiliary service cost.

(10) The amount represents the Group's payable to Dangdai for short-term lease and auxiliary service cost.

(11) The amount represents the advance from ESNU E&A Publishing for copyright use.

(12) The amount represents the Group's payable to Wuyuan Tourism for resource usage fee.

(13) The amount represents the loans from non-controlling interest shareholders, which were non-interest bearing, unsecured, and due on demand.

(14) The amount represents the compensation cost claimed by Yichang Changle for the contract dispute.