v3.26.1
Long-Term Borrowings (Tables)
 12 Months Ended
Feb. 28, 2026
Debt Disclosure [Abstract]  
Summary of Long-term Borrowings

Summary of long-term borrowings consisted of the following:

Creditors

 

Annual Interest Rate

 

Maturity Date

 

As of

 

 

 

 

 

 

 

February 28,
2025

 

 

February 28,
2026

 

 

 

 

 

 

 

RMB

 

 

RMB

 

 

USD

 

China Merchants Bank (1)

 

3.25%-3.60%

 

December 15, 2030

 

 

82,134

 

 

 

90,000

 

 

 

13,123

 

 

(1) The Company has entered into a facility agreement (the "Facility Agreement") with China Merchants Bank Co., Ltd. Singapore Branch for an uncommitted credit facility up to RMB110 million (in USD equivalent), which will be utilized to provide credit support for a domestic fixed assets loan (the "Loan") of RMB90 million. As of February 28, 2026, the Group has withdrawn RMB90,000 (US$13,123) from the loan in China Merchants Bank Co., Ltd. Shanghai Branch with maturity date in December, 2030, including RMB1,319 (US$191) with an effective interest rate of 3.60%, RMB61,280 (US$8,936) with an effective interest rate of 3.40%, RMB19,535 (US$2,849) with an effective interest rate of 3.35% and RMB7,866 (US$1,147) with an effective interest rate of 3.25%. Loan is uncommitted fully cash backed, with restricted cash amount of RMB129,478 (US$18,880) as of February 28, 2026. For the years ended February 29, 2024, February 28, 2025 and 2026, the Company incurred RMB142, RMB2,155 and RMB2,906 (US$424) in interest expense, of which RMB142, RMB990 and nil was capitalized in Property and equipment, net, respectively.

(2) The Group is requested to make the repayment every half year for the principles from June 25, 2026 to December 15, 2030. For the long-term borrowings as of February 28, 2026, the repayment scheduled agreed by both parties is as following:

 

 

 

 

Repayment Amount

 

Period

 

Repayment Date

 

RMB

 

 

US$

 

1

 

June 25, 2026

 

 

2,500

 

 

 

365

 

2

 

July 25, 2026

 

 

2,000

 

 

 

292

 

3

 

December 25, 2026

 

 

2,500

 

 

 

365

 

4

 

January 25, 2027

 

 

2,000

 

 

 

292

 

5

 

June 25, 2027

 

 

2,500

 

 

 

365

 

6

 

July 25, 2027

 

 

2,000

 

 

 

292

 

7

 

December 25, 2027

 

 

2,500

 

 

 

365

 

8

 

January 25, 2028

 

 

2,000

 

 

 

292

 

9

 

June 25, 2028

 

 

2,500

 

 

 

365

 

10

 

July 25, 2028

 

 

2,000

 

 

 

292

 

11

 

December 25, 2028

 

 

2,500

 

 

 

365

 

12

 

January 25, 2029

 

 

2,000

 

 

 

292

 

13

 

June 25, 2029

 

 

2,500

 

 

 

365

 

14

 

July 25, 2029

 

 

2,000

 

 

 

292

 

15

 

December 25, 2029

 

 

2,500

 

 

 

365

 

16

 

January 25, 2030

 

 

2,000

 

 

 

292

 

17

 

June 25, 2030

 

 

2,500

 

 

 

365

 

18

 

July 25, 2030

 

 

2,000

 

 

 

292

 

19

 

December 15, 2030

 

 

49,500

 

 

 

7,210

 

 

 

Total

 

 

90,000

 

 

 

13,123