| Related Party Transactions |
13.
Related Party Transactions
The
following is a list of related parties which the Company had transactions with during the years ended February 28, 2026 and 2025:
Summary
of Related Parties Name and Relationship
| |
Name |
|
Relationship |
| (a) |
Hongwei
Li |
|
Former
shareholder |
| (b) |
Strength
Union Holdings Limited |
|
Shareholder |
| (c) |
Virtue
Victory Holdings Limited |
|
Shareholder |
| (d) |
Intellegence
Triumph Holdings Limited |
|
Shareholder |
| (e) |
Guowei
Zhang |
|
President
of the Company |
| (f) |
Chuchu
Zhang |
|
Former
shareholder |
| (g) |
Sichuan
Zhicheng Qifeng Technology Co., Ltd |
|
Minority
shareholder |
| (h) |
Shaoxing
Keqiao Zhuyi Technology Co., Ltd |
|
Formerly
an entity controlled by a shareholder however it is now a subsidiary due to the acquisition of Xinghe |
| (i) |
Xiujuan
Chen |
|
Shareholder |
| (j) |
Ben Liu |
|
Chief Executive Officer |
Hongwei Li and Chuchu Zhang ceased to be related parties during the year. As a result, the related balances were
reclassified from related party balances to prepaid expenses and other current assets and other current payables, respectively.
(a)
The Company had the following transactions with related parties:
Schedule
of Transactions with Related Parties
| Name
|
|
Nature |
|
For
the year ended
February
28, 2026 |
| Sichuan Zhicheng Qifeng Technology Co., Ltd. |
|
Cost of revenues |
|
81,161 |
| Name |
|
Nature |
|
For the year ended
February 28, 2025 |
| Xiujuan Chen |
|
Revenue |
|
331,504 |
(b)
At February 28, 2026 and 2025, the Company owned funds from the following related parties:
Schedule
of Related Party Transactions
| | |
February 28,
2025 | | |
Provided | | |
Received
Repayment | | |
Cost
of
revenue | | |
Reclassification | | |
Exchange
Rate
Translation | | |
February 28,
2026 | |
| Intellegence Triumph Holdings Limited | |
$ | 5,000 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 5,000 | |
| Virtue Victory Holdings Limited | |
| 5,200 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 5,200 | |
| Strength Union Holdings Limited | |
| 5,800 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 5,800 | |
| Hongwei Li | |
| 1,240 | | |
| - | | |
| - | | |
| - | | |
| (1,266 | ) | |
| 26 | | |
| - | |
| Sichuan Zhicheng Qifeng
Technology Co., Ltd | |
| 52,864 | | |
| 27,186 | | |
| - | | |
| (81,161 | ) | |
| - | | |
| 1,111 | | |
| - | |
| Total amounts due from
related parties | |
$ | 70,104 | | |
$ | 27,186 | | |
$ | - | | |
$ | (81,161 | ) | |
$ | (1,266 | ) | |
| 1,137 | | |
$ | 16,000 | |
| | |
February 29, | | |
| | |
Received | | |
Exchange
Rate | | |
February 28, | |
| | |
2024 | | |
Provided | | |
Repayment | | |
Translation | | |
2025 | |
| Intellegence Triumph Holdings Limited | |
$ | 5,000 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 5,000 | |
| Virtue Victory Holdings Limited | |
| 5,200 | | |
| - | | |
| - | | |
| - | | |
| 5,200 | |
| Strength Union Holdings Limited | |
| 5,800 | | |
| - | | |
| - | | |
| - | | |
| 5,800 | |
| Hongwei Li | |
| 94,173 | | |
| 3,605 | | |
| (96,335 | ) | |
| (203 | ) | |
| 1,240 | |
| Sichuan Zhicheng Qifeng
Technology Co., Ltd | |
| - | | |
| 53,381 | | |
| - | | |
| (517 | ) | |
| 52,864 | |
| Total amounts due from
related parties | |
$ | 110,173 | | |
$ | 56,986 | | |
$ | (96,335 | ) | |
$ | (720 | ) | |
$ | 70,104 | |
(c)
At February 28, 2026 and 2025, the Company owed funds to the following related parties:
| | |
February
28, 2025 | | |
Borrowed | | |
Repaid | | |
Reclassification | | |
Exchange Rate Translation | | |
February
28, 2026 | |
| Guowei Zhang | |
$ | 2,046,179 | | |
$ | 416,614 | | |
$ | - | | |
$ | - | | |
$ | 29,468 | | |
$ | 2,492,261 | |
| Xiujuan Chen | |
| 172,193 | | |
| 2,215 | | |
| - | | |
| - | | |
| 10,758 | | |
| 185,166 | |
| Chuchu Zhang | |
| 27,462 | | |
| - | | |
| - | | |
| (28,039 | ) | |
| 577 | | |
| - | |
| Ben Liu | |
| - | | |
| - | | |
| - | | |
| 162,678 | | |
| 6,523 | | |
| 169,201 | |
| Total amounts due to
related parties | |
$ | 2,245,834 | | |
$ | 418,829 | | |
$ | - | | |
$ | 134,639 | | |
$ | 47,326 | | |
$ | 2,846,628 | |
| | |
February
29, 2024 | | |
Borrowed | | |
Repaid | | |
Business acquisition | | |
Determined Sales
Income | | |
Exchange Rate Translation | | |
February
28, 2025 | |
| Guowei Zhang | |
$ | 1,629,089 | | |
$ | 423,546 | | |
$ | (832 | ) | |
$ | - | | |
$ | - | | |
$ | (5,624 | ) | |
$ | 2,046,179 | |
| Xiujuan Chen | |
| 347,333 | | |
| 851,988 | | |
| (762,585 | ) | |
| 64,278 | | |
| (331,504 | ) | |
| 2,683 | | |
| 172,193 | |
| Chuchu Zhang | |
| 27,787 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (325 | ) | |
| 27,462 | |
| Shaoxing Keqiao Zhuyi
Technology Co., Ltd | |
| 21,955,735 | | |
| - | | |
| - | | |
| (21,955,735 | ) | |
| - | | |
| - | | |
| - | |
| Total amounts due to
related parties | |
$ | 23,959,944 | | |
$ | 1,275,534 | | |
$ | (763,417 | ) | |
$ | (21,891,457 | ) | |
$ | (331,504 | ) | |
$ | (3,266 | ) | |
$ | 2,245,834 | |
Advances from Guowei Zhang were unsecured, non-interest bearing and due on demand.
|