v3.26.1
Share-Based Compensation (Tables)
12 Months Ended
Feb. 28, 2026
Summary of Classification of Share-Based Compensation Expenses

The following table presents the classification of the Group’s share-based compensation expenses:

 

 

For the Years Ended

 

 

 

February 29,
2024

 

 

February 28,
2025

 

 

February 28,
2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

General and administrative expenses

 

 

2,939

 

 

 

4,892

 

 

 

1,571

 

 

 

229

 

Sales and marketing expenses

 

 

183

 

 

 

134

 

 

 

80

 

 

 

12

 

Total share-based compensation

 

 

3,122

 

 

 

5,026

 

 

 

1,651

 

 

 

241

 

Summary of Aggregate Options Activity and Information Regarding Options Outstanding

A summary of the aggregate option activity and information regarding options outstanding for the periods presented are as below:

 

 

Number of
Options

 

 

Weighted
 Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contract
Life

 

 

Aggregate
Intrinsic
Value

 

 

 

(in thousand)

 

 

RMB

 

 

Years

 

 

RMB

 

Options outstanding on February 29, 2024

 

 

3,226

 

 

 

15.66

 

 

 

4.08

 

 

 

 

Granted

 

 

650

 

 

 

7.28

 

 

 

9.50

 

 

 

 

Forfeited

 

 

(85

)

 

 

12.13

 

 

 

5.08

 

 

 

 

Expired

 

 

(25

)

 

 

14.57

 

 

 

8.33

 

 

 

 

Exercised

 

 

(1,137

)

 

 

5.95

 

 

 

8.99

 

 

 

 

Options outstanding on February 28, 2025

 

 

2,629

 

 

 

9.25

 

 

 

6.19

 

 

 

131.00

 

Granted

 

 

752

 

 

 

11.18

 

 

 

9.42

 

 

 

 

Forfeited

 

 

(37

)

 

 

14.03

 

 

 

4.11

 

 

 

 

Expired

 

 

(822

)

 

 

11.18

 

 

 

0.10

 

 

 

 

Exercised

 

 

(14

)

 

 

5.49

 

 

 

1.92

 

 

 

 

Options outstanding on February 28, 2026

 

 

2,508

 

 

 

8.58

 

 

 

8.34

 

 

 

1,262.00

 

Options vested or expected to vest on February 28, 2026

 

 

2,508

 

 

 

8.58

 

 

 

8.34

 

 

 

1,262.00

 

Options exercisable on February 28, 2026

 

 

1,256

 

 

 

7.58

 

 

 

7.65

 

 

 

1,194.00

 

For years ended February 29, 2024, February 28, 2025 and 2026, the Group recognized share-based compensation expense of RMB3,122, RMB5,026 and RMB1,651 (US$241), respectively. As of February 28, 2026, there was RMB3,734 (US$544) in total unrecognized compensation cost related to non-vested share options, which is expected to be recognized over a weighted-average period of 1.98 years
Black-Scholes Option Pricing Model  
Schedule of Assumptions to Estimate Fair Value of Options Granted

The Group used the Black-Scholes option pricing model and the following assumptions to estimate the fair value of the options granted and repriced during the year ended February 28, 2025 and 2026 with reference to the closing price of the Company on the measurement dates.

 

 

For the Year Ended

 

 

For the Year Ended

 

 

 

February 28,

 

 

February 28,

 

 

 

2025

 

 

2026

 

Average risk-free rate of interest

 

3.79% - 3.90%

 

 

 

4.35

%

Estimated volatility rate

 

52% - 61%

 

 

45% - 76%

 

Dividend yield

 

 

0

%

 

 

0

%

Life of options

 

10 years

 

 

10 years