Property and Equipment, Net

12 Months Ended

Feb. 29, 2024

Property, Plant and Equipment [Abstract]

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consisted of the followings:


	As of
	February 28, 2023		February 29, 2024
	RMB		RMB		USD
Leasehold improvement		7,334		5,501		765
Motor vehicles		3,007		2,772		385
Electronic equipment		3,503		3,275		455
Office equipment & furniture		1,760		1,355		188
Construction in progress		7,899		63,859		8,872
Total		23,503		76,762		10,665
Less: accumulated depreciation		9,524		10,693		1,486
Property and equipment, net		13,979		66,069		9,179

The construction in progress as of February 28, 2023 and February 29, 2024, are mainly the study camps construction in Wuyuan, Jiangxi. As of February 29, 2024, the Group entered into a number of agreements, at total cost of approximately RMB130,718 for the development of study camps in Wuyuan, covering approximately 45,535.3 square meters of construction area. As of February 29, 2024, RMB65,822 (US$9,145) had been paid for the construction. The Group expect to complete the construction in July 2024.

For the years ended February 28, 2022, 2023 and February 29, 2024, depreciation expenses were RMB8,458, RMB2,802 and RMB3,735 (US$519), respectively.

The Group recorded impairment loss for property and equipment of RMB7,871, nil and RMB3,674 (US$510) for the years ended February 28, 2022, 2023 and February 29, 2024, respectively. The impairment loss for the year ended February 28, 2022 arose as a result of the changes in the regulatory environment and the Business Restructuring. The impairment loss for the year ended February 29, 2024 arose as a result of the plan to cease the operation of several study camps.