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CONSOLIDATED BALANCE SHEETS
¥ in Thousands, $ in Thousands
Feb. 28, 2025
USD ($)
Feb. 28, 2025
CNY (¥)
Feb. 29, 2024
CNY (¥)
Current assets      
Cash and cash equivalents $ 28,941 ¥ 210,771 ¥ 180,198
Restricted cash, current 68 496  
Accounts receivable, net of allowance for credit losses of nil and nil as of February 29, 2024 and February 28, 2025 281 2,048 3,249
Other receivables, deposits and other assets, net of allowance for credit losses of RMB4,755 and RMB3,652 as of February 29, 2024 and February 28, 2025, respectively 3,418 24,890 15,026
Amount due from related parties, net of allowance for credit losses of nil and nil as of February 29, 2024 and February 28, 2025, respectively 457 3,331 8,264
Short-term investments 1,909 13,905 18,929
Short-term investments under fair value 5,211 37,953 82,791
Long-term investments under fair value, current 492 3,584 14,122
Total current assets 40,777 296,978 322,579
Non-current assets      
Restricted cash, non-current 17,580 128,028 122,048
Property and equipment, net 17,195 125,228 66,069
Operating lease right-of-use assets 5,518 40,185 27,235
Intangible assets, net 197 1,434 1,858
Goodwill 154 1,125 1,125
Long-term investments, net 4,943 36,000 36,000
Long-term investment under fair value, non-current 13,672 99,571 94,817
Other non-current assets 359 2,593 2,429
Total non-current assets 59,618 434,164 351,581
TOTAL ASSETS 100,395 731,142 674,160
Current liabilities      
Accounts payable 514 3,746  
Amounts due to related parties 722 5,256 3,384
Accrued expenses and other current liabilities 9,871 71,888 66,040
Operating lease liabilities, current 1,084 7,895 1,183
Income tax payable 2,590 18,859 18,189
Deferred revenue 3,837 27,941 18,023
Total current liabilities 18,618 135,585 106,819
Non-current liabilities      
Long-term borrowings 11,278 82,134 40,000
Operating lease liabilities, non-current 1,136 8,270 1,197
Total non-current liabilities 12,414 90,404 41,197
TOTAL LIABILITIES 31,032 225,989 148,016
Commitments and contingencies
EQUITY      
Ordinary shares (US$0.0001 par value; 500,000,000 shares authorized, 21,163,416 and 22,600,576 shares issued and outstanding as of February 29, 2024 and February 28, 2025, respectively) 2 15 14
Additional paid-in capital 102,622 747,376 783,313
Treasury shares (2,938,567 and 2,363,567 shares as of February 29, 2024 and February 28, 2025, respectively) (6,195) (45,115) (56,090)
Accumulated deficit (37,971) (276,538) (277,339)
Accumulated other comprehensive income 3,965 28,873 25,105
Shareholders’ equity 62,423 454,611 475,003
Non-controlling interests 6,940 50,542 51,141
Total equity 69,363 505,153 526,144
TOTAL LIABILITIES AND EQUITY $ 100,395 ¥ 731,142 ¥ 674,160