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Segment Information
 12 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Segment Information

18. SEGMENT INFORMATION

Operating segments are defined as components of an enterprise engaging in business activities for which separate financial information is available that is regularly evaluated by the Group’s chief operating decision makers (“CODM”) in deciding how to allocate resources and assess performance.

The Group's chief operating decision maker, is comprised of the Chairman and CEO. For the years ended February 28, 2023, February 29, 2024 and February 28, 2025, there are three operating segments identified including learning service, tourism service and others.

The Group primarily operates in the PRC and substantially all of the long-lived assets of the Group are located in the PRC. Segment information is presented after elimination of inter-segment transactions and revenue and cost of revenue are directly attributable, or are allocated, to each segment. The accounting policies of the segments are the same as those described in note 2. The Group’s CODM evaluates performance based on each operating segment’s revenue and cost of revenue, and uses these results to evaluate the performance of, and to allocate resources to each of the segments. The Group’s CODM does not review the financial position by operating segment, thus total assets by operating segment is not presented.

 

 

For the Years Ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

 

2023

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

 

 

 

 

 

 

 

 

 

 

(Note 2)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

18,516

 

 

 

65,842

 

 

 

108,047

 

 

 

14,836

 

---Tourism services

 

 

3,502

 

 

 

51,880

 

 

 

138,295

 

 

 

18,989

 

---Others

 

 

12,198

 

 

 

7,723

 

 

 

4,734

 

 

 

651

 

Total revenue

 

 

34,216

 

 

 

125,445

 

 

 

251,076

 

 

 

34,476

 

Cost of revenue

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

(10,175

)

 

 

(25,703

)

 

 

(62,279

)

 

 

(8,552

)

---Tourism services

 

 

(3,542

)

 

 

(48,189

)

 

 

(137,725

)

 

 

(18,911

)

---Others

 

 

(6,205

)

 

 

(6,059

)

 

 

(3,937

)

 

 

(540

)

Total cost of revenue(1)

 

 

(19,922

)

 

 

(79,951

)

 

 

(203,941

)

 

 

(28,003

)

Reconciliation of profit or loss

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

 

(45,291

)

 

 

(44,337

)

 

 

(48,849

)

 

 

(6,707

)

Sales and marketing expenses

 

 

(4,668

)

 

 

(6,753

)

 

 

(14,025

)

 

 

(1,926

)

Impairment loss on other long-lived assets

 

 

—

 

 

 

(3,674

)

 

 

—

 

 

 

—

 

Operating loss

 

 

(35,665

)

 

 

(9,270

)

 

 

(15,739

)

 

 

(2,160

)

Subsidy income

 

 

1,412

 

 

 

728

 

 

 

1,413

 

 

 

194

 

Interest income, net

 

 

2,284

 

 

 

7,235

 

 

 

16,200

 

 

 

2,224

 

Realized gain (loss) in investments

 

 

1,867

 

 

 

3,207

 

 

 

(3,062

)

 

 

(420

)

Unrealized holding (loss) gain in investments

 

 

(3,794

)

 

 

3,910

 

 

 

2,022

 

 

 

278

 

Other income (expense), net

 

 

1,401

 

 

 

(1,434

)

 

 

(739

)

 

 

(102

)

Impairment loss on long-term investments

 

 

—

 

 

 

(500

)

 

 

—

 

 

 

—

 

(Loss) income before income taxes

 

 

(32,495

)

 

 

3,876

 

 

 

95

 

 

 

14

 

 

(1) A summary of depreciation and amortization expenses for the years presented is as follows:

 

 

For the Years Ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

 

2023

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

USD

 

 

 

 

 

 

 

 

 

 

 

 

(Note 2)

 

Depreciation and amortization expenses

 

 

 

 

 

 

 

 

 

 

 

 

---Learning services

 

 

522

 

 

 

62

 

 

 

165

 

 

 

23

 

---Tourism services

 

 

672

 

 

 

2,059

 

 

 

1,959

 

 

 

269

 

---Others

 

 

215

 

 

 

46

 

 

 

37

 

 

 

5