Short-term borrowings |
3 Months Ended |
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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.
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