v3.26.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Feb. 28, 2026
Accounting Policies [Abstract]  
Schedule of Balances and Amounts of VIEs and Subsidiaries

The following consolidated financial statement balances and amounts of the Company's VIEs and their subsidiaries, were included in the accompanying consolidated financial statements before the elimination of intercompany balances and transactions among the Company, its subsidiaries, its VIEs and VIEs’ subsidiaries.

 

 

As of

 

 

 

February 28,

 

 

February 28,

 

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

USD

 

ASSETS

 

 

 

 

 

 

 

 

 

Total current assets

 

 

76,108

 

 

 

103,954

 

 

 

15,158

 

Total non-current assets

 

 

169,436

 

 

 

167,188

 

 

 

24,379

 

TOTAL ASSETS

 

 

245,544

 

 

 

271,142

 

 

 

39,537

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Accounts payable

 

 

3,746

 

 

 

3,014

 

 

 

439

 

Amounts due to related parties

 

 

3,810

 

 

 

3,611

 

 

 

527

 

Accrued expenses and other current liabilities

 

 

68,353

 

 

 

57,118

 

 

 

8,329

 

Operating lease liabilities, current

 

 

6,913

 

 

 

9,072

 

 

 

1,323

 

Income tax payable

 

 

15,966

 

 

 

16,484

 

 

 

2,404

 

Deferred revenue

 

 

27,931

 

 

 

30,129

 

 

 

4,393

 

Long-term borrowings, current

 

 

 

 

 

9,000

 

 

 

1,312

 

Intercompany payable

 

 

12,484

 

 

 

28,190

 

 

 

4,111

 

Total current liabilities

 

 

139,203

 

 

 

156,618

 

 

 

22,838

 

Operating lease liabilities, non-current

 

 

7,683

 

 

 

7,140

 

 

 

1,041

 

Long-term borrowings

 

 

82,134

 

 

 

81,000

 

 

 

11,811

 

Total non-current liabilities

 

 

89,817

 

 

 

88,140

 

 

 

12,852

 

TOTAL LIABILITIES

 

 

229,020

 

 

 

244,758

 

 

 

35,690

 

 

 

 

For the Years Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 28,

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

Total revenue

 

 

124,568

 

 

 

250,528

 

 

 

259,520

 

 

 

37,842

 

Operating income (loss)

 

 

2,936

 

 

 

(12,245

)

 

 

10,974

 

 

 

1,600

 

Net income (loss)

 

 

440

 

 

 

(13,745

)

 

 

17,550

 

 

 

2,559

 

Net cash provided by operating activities

 

 

19,891

 

 

 

20,996

 

 

 

16,976

 

 

 

2,475

 

Net cash used in investing activities

 

 

(2,270

)

 

 

(56,747

)

 

 

(56,568

)

 

 

(8,249

)

Net cash (used in) provided by financing activities

 

 

(1,194

)

 

 

29,684

 

 

 

74,502

 

 

 

10,864

 

Summary of Assets Measured at Fair Value on Non-Recurring Basis

The following table presents the impairment charges recorded by the Group for assets measured at fair value on a non-recurring basis for the years ended February 29, 2024, February 28, 2025 and 2026:

 

 

For the Years Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 28,

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

Fair Value
As of
Impairment
Date

 

 

Total
Impairment
Loss

 

 

Fair Value
As of
Impairment
Date

 

 

Total
Impairment
Loss

 

 

Fair Value As of
 Impairment Date

 

 

Total Impairment
 Loss

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

RMB

 

 

USD

 

Property and equipment, net (Note 5)

 

 

 

 

 

3,674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Estimated Useful Lives of Property and Equipment

Property and equipment is generally stated at historical cost and depreciated on a straight-line basis over the estimated useful lives of the assets. Assets under construction are not depreciated until construction is completed and the assets are ready for their intended use. Depreciation and amortization expense of long-lived assets is included in either cost of revenue or selling, general and administrative expenses, as appropriate. Property and equipment consist of the following and depreciation is calculated on a straight-line basis over the following estimated useful lives:

Construction and buildings

 

20 - 50 years

Electronic equipment

 

3 - 5 years

Office equipment & Furniture

 

3 - 5 years

Motor vehicles

 

3 - 5 years

Leasehold improvement

 

Shorter of the lease term or expected useful life

Schedule of Amortization Periods by Intangible Asset Classes The amortization periods by intangible asset classes are as follows:

Trade name

 

10 - 20 years

Student base and customer relationship

 

3 - 9 years

School cooperation agreements

 

5 years

Non-compete agreements

 

3 years

Software

 

5 years

License

 

3 years

Summary of Disaggregation of Revenue

The following table represents disaggregation of Group's revenue from contracts with customers by service nature for the years ended. The Group's revenue is reported net of value added taxes and surcharges.

 

 

For the Years Ended

 

 

 

February 29,

 

 

February 28,

 

 

February 28,

 

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Learning services

 

 

65,842

 

 

 

108,047

 

 

 

130,805

 

 

 

19,074

 

Tourism services

 

 

51,880

 

 

 

138,295

 

 

 

118,365

 

 

 

17,260

 

Learning technology and content solutions

 

 

7,978

 

 

 

5,174

 

 

 

5,560

 

 

 

811

 

Less: Sales tax

 

 

255

 

 

 

440

 

 

 

286

 

 

 

43

 

Total

 

 

125,445

 

 

 

251,076

 

 

 

254,444

 

 

 

37,102