v3.26.1
Segment Information
 12 Months Ended
Feb. 28, 2026
Segment Reporting [Abstract]  
Segment Information

18. SEGMENT INFORMATION

Operating segments are defined as components of an enterprise engaging in business activities for which separate financial information is available that is regularly evaluated by the Group’s chief operating decision makers (“CODM”) in deciding how to allocate resources and assess performance.

The Group's chief operating decision maker, is comprised of the Chairman and CEO. For the years ended February 29, 2024, February 28, 2025 and 2026, there are three operating segments identified including learning services, tourism services and others.

The Group primarily operates in the PRC and substantially all of the long-lived assets of the Group are located in the PRC. Segment information is presented after elimination of inter-segment transactions and revenue and cost of revenue are directly attributable, or are allocated, to each segment. The accounting policies of the segments are the same as those described in Note 2. The Group’s CODM evaluates performance based on each operating segment’s revenue and cost of revenue, and uses these results to evaluate the performance of, and to allocate resources to each of the segments. The Group’s CODM does not review the financial position by operating segment, thus total assets by operating segment is not presented.

 

 

For the Years Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 28,

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

 

 

 

 

 

 

 

 

 

 

(Note 2)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

65,842

 

 

 

108,047

 

 

 

130,805

 

 

 

19,074

 

---Tourism services

 

 

51,880

 

 

 

138,295

 

 

 

118,365

 

 

 

17,260

 

---Others

 

 

7,723

 

 

 

4,734

 

 

 

5,274

 

 

 

768

 

Total revenue

 

 

125,445

 

 

 

251,076

 

 

 

254,444

 

 

 

37,102

 

Cost of revenue

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

(25,703

)

 

 

(62,279

)

 

 

(67,354

)

 

 

(9,821

)

---Tourism services

 

 

(48,189

)

 

 

(137,725

)

 

 

(117,626

)

 

 

(17,152

)

---Others

 

 

(6,059

)

 

 

(3,937

)

 

 

(3,811

)

 

 

(556

)

Total cost of revenue(1)

 

 

(79,951

)

 

 

(203,941

)

 

 

(188,791

)

 

 

(27,529

)

Reconciliation of profit or loss

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

 

(44,337

)

 

 

(48,849

)

 

 

(48,420

)

 

 

(7,060

)

Sales and marketing expenses

 

 

(6,753

)

 

 

(14,025

)

 

 

(10,496

)

 

 

(1,530

)

Impairment loss on other long-lived assets

 

 

(3,674

)

 

 

—

 

 

 

—

 

 

 

—

 

Operating loss

 

 

(9,270

)

 

 

(15,739

)

 

 

6,737

 

 

 

983

 

Subsidy income

 

 

728

 

 

 

1,413

 

 

 

191

 

 

 

28

 

Interest income, net

 

 

7,235

 

 

 

16,200

 

 

 

6,006

 

 

 

876

 

Realized gain (loss) in investments

 

 

3,207

 

 

 

(3,062

)

 

 

3,938

 

 

 

574

 

Unrealized holding gain in investments

 

 

3,910

 

 

 

2,022

 

 

 

2,438

 

 

 

356

 

Other (expense) income, net

 

 

(1,434

)

 

 

(739

)

 

 

381

 

 

 

55

 

Investment income

 

 

—

 

 

 

—

 

 

 

1,224

 

 

 

177

 

Gains from deregistration of subsidiaries

 

 

—

 

 

 

—

 

 

 

8,811

 

 

 

1,284

 

Impairment loss on long-term investments

 

 

(500

)

 

 

—

 

 

 

—

 

 

 

—

 

Income before income taxes

 

 

3,876

 

 

 

95

 

 

 

29,726

 

 

 

4,333

 

 

(1) A summary of depreciation and amortization expenses recorded in cost of revenue for the years presented is as follows:

 

 

For the Years Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 28,

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

 

 

 

 

 

 

 

 

 

 

(Note 2)

 

Depreciation and amortization expenses

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

62

 

 

 

165

 

 

 

688

 

 

 

100

 

---Tourism services

 

 

2,059

 

 

 

1,959

 

 

 

4,755

 

 

 

693

 

---Others

 

 

46

 

 

 

37

 

 

 

182

 

 

 

27