Related Party Transactions

12 Months Ended

Feb. 28, 2022

13. RELATED PARTY TRANSACTIONS

The table below sets forth the major related parties and their relationships with the Group:


Name of related parties		Relationship with the group
FSOL		Equity method investee of the Group
Shanghai Fuxi Network Co., Ltd. ("Fuxi Network")		Equity method investee of the Group
VIP Sing		Equity method investee of the Group
Jiaxin Travel		Entity controlled by Tian Peihua, brother of Tian Peiqing, Chairman of the Group
Dangdai		Entity ultimately controlled by Tian Peihua, brother of Tian Peiqing, Chairman of the Group
Shanghai Zhendou Technology Co., Ltd. ("Zhendou")		Equity method investee of the Group
Huangshan Culture Investment Group Co., Ltd. ("Huangshan Culture")		Non-controlling interest shareholder of VIE's subsidiary
Ju Yiming, Liu Wei, Shen Yalin, Yang Huining, Ma Lichao, Yang Hongguan and Song Ping		Non-controlling interest shareholders of VIE's subsidiaries

The Group entered into the following transactions with its related parties:


	For the year ended
	February 29			February 28		February 28
	2020			2021		2022
	RMB			RMB		RMB		USD
Services provided to related parties
Fuxi Network		3,436			2,476		949		150
Total		3,436			2,476		949		150
Purchases of services provided by related parties
Fuxi Network		1,702			3,525		—		—
Others		—			246		—		—
Total		1,702			3,771		—		—
Lease expense to Huangshan Culture (1)		53			108		108		17
Total		53			108		108		17
Gain from disposal of liabilities and a subsidiary (2)		—	—		—		4,048		642
Total		—			—		4,048		642

(1) In September 2019, the Group entered into two lease contracts with Huangshan Culture Investment Group Co., Ltd., non-controlling interest shareholder of Huangshan Four Seasons Research and Learning Education Development Co., Ltd. The Group recognized an operating lease right-of-use asset of RMB189 and RMB88 (US$14), and operating lease liability of RMB141 and RMB40 (US$6) as of February 28, 2021 and 2022, respectively. The operating lease expenses was RMB53, RMB108 and RMB108 (US$17) for the years ended February 29, 2020, February 28, 2021 and 2022, respectively.

(2) Due to the change in regulations, the Group ceased offering K9 Academic AST services at the end of 2021. The Group disposed the deferred revenue related to K9 Academic AST services that it received in advance from the students for the unconsummated lessons to Jiaxin Travel’s sponsored not-for profit entities with a consideration at RMB7,500. After disposal, all the rights and obligations related to the contracts of unconsummated lessons were transferred to Jiaxin Travel. The Group recognized gain of RMB 835 (US$133) from the transaction.

In December 2021, the Group disposed its entire equity interest in Shanghai Jing’an Dangdai Art Training School (“Dangdai”) to Jiaxin Travel. No other form of consideration was received. The disposal was effected by the change of sponsor of Dangdai on December 31, 2021. Dangdai was in a net liability position at the time of disposal, and Jiaxin assumed all its liabilities, which led to the group recognizing a gain on disposal of RMB3,213(US$509). The disposal was not a strategic shift of the business and would not have a major impact on the Group’s business, therefore the disposal did not qualify as discontinued operations.

The following tables present amounts due from and to related parties as of February 28, 2021 and 2022:


	As of February28,
	2021		2022
	RMB		RMB		USD
Amounts due from related parties
Jiaxin Travel (1)	—			948		150
Dangdai (1)	—			1,998		317
Non-controlling interest shareholders of VIE's subsidiaries (2)	—			588		93
Total	—			3,534		560
Amounts due to related parties
Non-controlling interest shareholders of VIE's subsidiaries (3)		1,390		723		115
Others		105		160		25
Total		1,495		883		140

(1) The amount represents the refund of tuition fee on behalf of Jiaxin Travel and Dangdai after the disposal of deferred revenue and Dangdai to Jiaxin Travel.

(2) The amount represents the loan lent to non-controlling interest shareholders.

(1) The amount represents the loan borrowed from non-controlling interest shareholders, which were non-interest bearing, unsecured, and due on demand.