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Long-Term Borrowings | 12 Months Ended
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Feb. 29, 2024
Long-Term Borrowings | 9. LONG-TERM BORROWINGS Summary of long-term borrowings consisted of the following:
Creditors |  | Annual Interest Rate |  |  | Maturity Date |  | As of |
|  |  |  |  |  |  | February 28, 2023 |  |  | February 29, 2024 |
|  |  |  |  |  |  | RMB |  |  | RMB |  |  | USD |
China Merchants Bank (1) |  |  | 3.60 | % |  | December 15, 2030 |  |  | — |  |  |  | 40,000 |  |  |  | 5,557 |
(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 RMB 110 million (in USD equivalent), which will be utilized to provide credit support for a domestic fixed assets loan (the "Loan") of RMB 90 million. As of February 29, 2024, the Group has withdrawn RMB 40,000 (US$5,557) from the loan in China Merchants Bank Co., Ltd. Shanghai Branch with maturity date in December, 2030 and an effective interest rate of 3.60%. Loan is uncommitted fully cash backed, with restricted cash amount of RMB 121,472 (US$16,876) as of February 29, 2024. (2) The Group is requested to make the repayment every half year for the principles from July 25, 2026 to December 15, 2030. For the long-term borrowings as of February 29, 2024, the repayment scheduled agreed by both parties is as following:
|  |  |  | Repayment Amount |
Period |  | Repayment Date |  | RMB |  |  | US$ |
1 |  | July 25, 2026 |  |  | 2,000 |  |  |  | 278 |
2 |  | January 25, 2027 |  |  | 2,000 |  |  |  | 278 |
3 |  | June 25, 2027 |  |  | 2,000 |  |  |  | 278 |
4 |  | January 25, 2028 |  |  | 2,000 |  |  |  | 278 |
5 |  | June 25, 2028 |  |  | 2,000 |  |  |  | 278 |
6 |  | January 25, 2029 |  |  | 2,000 |  |  |  | 278 |
7 |  | June 25, 2029 |  |  | 2,000 |  |  |  | 278 |
8 |  | January 25, 2030 |  |  | 2,000 |  |  |  | 278 |
9 |  | June 25, 2030 |  |  | 2,000 |  |  |  | 278 |
10 |  | December 15, 2030 |  |  | 22,000 |  |  |  | 3,055 |
|  | Total |  |  | 40,000 |  |  |  | 5,557 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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Namespace Prefix: | us-gaap_
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