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Short-term borrowings
3 Months Ended
May 31, 2024
Debt Disclosure [Abstract]  
Short-term borrowings

10. Short-term borrowings

 

On September 25, 2023, the Company’s subsidiary, Hangzhou Zhuyi entered into a loan agreement of $ 1,381,025 (RMB10,000,000) with Zhejiang Chouzhou Commercial Bank with an annual interest rate of 4.5% and maturity date of September 18, 2024. The Company pays interest monthly, and the principal balance at maturity. The borrowing is secured by Floor 1 to 6, No. 1 to 10, Chuangyi Road, Yinhu Village, Shoujiang Town, Fuyang District, China and guaranteed by Jianqiang Liu, the vice present.