Financial Analysis

4. Business Combination, Significant Transaction and Sale of business Acquisition of Xinghe Acquisition related costs were immaterial. Unaudited pro forma combined financial statements as of August 31, 2024 and for the year ended February 29, 2024 were presented and filed in the 8-K with filing date December 9, 2024. The results of Xinghes operations have been included in the consolidated financial statements since December 2024. The following table summarizes the provisional estimated consideration for the acquisition of Xinghe: Schedule of Provisional Estimated Consideration for the Acquisition Cash and cash equivalents 621,722 Amounts due from related parties 19,103,677 Prepaid expenses and other current assets 119,931 Other current payables (18,901,304 ) Total assets acquired net of acquired cash 944,026 Sale of Haikou, Yibin , and Liangshan On August 27, 2024, Hangzhou Zhuyi entered into a shares transfer agreement with Qiaofei Li and Haikou. Pursuant to the agreement, Hangzhou Zhuyi transferred 90 % of all the equity interest of Haikou to Qiaofei Li and 10 % to Lili Xu, for consideration of $ 0 . Haikou has no material operations before the transfer, and Hangzhou Zhuyi received a valuation report from a third party before it entered into the agreement. On the same date, Hangzhou Zhuyi entered into a shares transfer agreement with Lili Xu and Yibin. Pursuant to the shares transfer agreement, Hangzhou Zhuyi transferred all the entity interest it owned in Yibin to Lili Xu …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

16. Commitments and contingencies A corporate plaintiff, Zhejiang Yinpai Technology Co., Ltd., filed a claim against Hangzhou Zhuyi in connection with a dispute arising from a technical entrustment development contract. The plaintiff was unsuccessful in the first instance and is expected to appeal. As of the reporting date, certain assets of Hangzhou Zhuyi, including its property located in Building B8, China Smart Valley, Hangzhou, and three bank accounts, remain frozen.

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14. Income Taxes PRC The Companys subsidiaries incorporated in the PRC are subject to a profits tax rate of 25 % for income generated and operation in the country. The full realization of the tax benefit associated with the carry forward losses depends predominantly upon the Companys ability to generate taxable income during the carry forward period. Income tax expense (benefits) Schedule of Income Tax Expenses (Benefits) February 28, 2026 February 28, 2025 $ $ Loss before tax (6,694,161 ) (6,009,011 ) Tax credit calculated at statutory tax rate (1,673,540 ) (1,502,253 ) Effect of different tax rates 680,515 18,409 Deferred tax asset not recognized during the year 1,004,986 1,491,241 Total income tax expense 11,961 7,397 As of February 28, 2026 and 2025, the significant components of the deferred tax assets and deferred tax liabilities are summarized below: Schedule of Deferred Tax Assets And Deferred Tax Liabilities February 28, 2026 February 28, 2025 $ $ Deferred tax assets: Net operating loss carrying forward 5,456,466 3,954,265 Allowance on doubtful accounts 606,227 194,117 Deferred tax assets, gross 6,062,693 4,148,382 Less: valuation allowance (6,062,693 ) (4,148,382 ) Deferred tax assets, net - - The Company accounts for income taxes using the asset/liability method prescribed by ASC 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities usin …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

15. Leases Right-of-use (ROU) assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company entered into 2 agreements for renting offices, warehouses and parking lots. As of February 28, 2026, the Company has $ 76,474 of right-of-use assets, $ 10,789 in current operating lease liabilities and $ 62,936 in non-current operating lease liabilities. Significant assumptions and judgments made as part of the adoption of this new lease standard include determining (i) whether a contract contains a lease, (ii) whether a contract involves an identified asset, and (iii) which party to the contract directs the use of the asset. The discount rates used to calculate the present value of lease payments were determined based on hypothetical borrowing rates available to the Company over terms similar to the lease terms. The Companys future minimum payments under long-term non-cancellable operating leases are as follows: Schedule of Future Minimum Payments Under Long Term Non-Cancellable Operating Lease February 28, 2026 February 28, 2025 $ $ Within 1 year 13,405 11,969 After 1 year but within 5 years 26,105 31,685 Over 5 years 52,211 49,430 Total lease payments 91,721 93,084 Less: imputed interest (17,996 ) (18,116 ) Total lease o …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

17. Long term payable Schedule of Long Term Payable February 28, 2026 February 28, 2025 $ $ Long term payable 25,641,883 21,495,468 Total 25,641,883 21,495,468 During the year ended February 29, 2024, the Company entered into fourteen contracts with fourteen agents allowing them to use the Companys software application to parking lots in the cities that are specified in the contracts for collecting fee. These contracts were terminated by the end of February 29, 2024 by mutual agreements. The Company entered into a three-year loan with Zhibo on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD $ 45,028,818 ) with an interest rate of 3.6% . 25% of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The Company entered into a two-year interest-free agreement with Zhibo on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$ 3,302,098 ). As of February 28, 2023, the outstanding balance of the two loans combined was RMB 215,280,227.44 (USD$ 31,053,765 ). Zhibo extended the above contracts to September 30, 2025 when they expired in 2022. Repayments and interest expenses are not required until September 30, 2024. Interest expenses calculated on an annual rate of 3% will be paid monthly from 1 October, 2024. Principl …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recent accounting pronouncements In November 2024, the FASB issued ASU No. 2024-03, Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40), which requires disaggregated disclosure of income statement expenses for public business entities. The objective of ASU 2024-03 is to address requests from investors for more detailed information about the types of expenses . . . in commonly presented expense captions (such as cost of sales, selling, general, and administrative expenses, and research and development). Investors advised the FASB that disclosure of disaggregated information about expenses is critically important in understanding an entitys performance, assessing an entitys prospects for future cash flows, and comparing an entitys performance over time and with that of other entities. ASU 2024-03 adds ASC 220-40 to require a footnote disclosure about specific expenses by requiring public entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization (DD&A) recognized as part of oil- and gas-producing activities or other types of depletion expenses. The tabular disclosure would also include certain other expenses, when applicable. The ASU does not change or remove …

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13. Related Party Transactions The following is a list of related parties which the Company had transactions with during the years ended February 28, 2026 and 2025: Summary of Related Parties Name and Relationship Name Relationship (a) Hongwei Li Former shareholder (b) Strength Union Holdings Limited Shareholder (c) Virtue Victory Holdings Limited Shareholder (d) Intellegence Triumph Holdings Limited Shareholder (e) Guowei Zhang President of the Company (f) Chuchu Zhang Former shareholder (g) Sichuan Zhicheng Qifeng Technology Co., Ltd Minority shareholder (h) Shaoxing Keqiao Zhuyi Technology Co., Ltd Formerly an entity controlled by a shareholder however it is now a subsidiary due to the acquisition of Xinghe (i) Xiujuan Chen Shareholder (j) Ben Liu Chief Executive Officer Hongwei Li and Chuchu Zhang ceased to be related parties during the year. As a result, the related balances were reclassified from related party balances to prepaid expenses and other current assets and other current payables, respectively. (a) The Company had the following transactions with related parties: Schedule of Transactions with Related Parties Name Nature For the year ended February 28, 2026 Sichuan Zhicheng Qifeng Technology Co., Ltd. Cost of revenues 81,161 Name Nature For the year ended February 28, 2025 Xiujuan Chen Revenue 331,504 (b) At February 28, 2026 and 2025, the Company owned funds from the following related parties: Schedule of Related Party Transactions February 28, 2025 Provided Re …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

20. Segment Reporting ASC 280, Disclosures about Segments, of an Enterprise and Related Information, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise engaging in business activities from which they may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision-marker, or decision-making group (the CODM), in deciding how to allocate resources and in assessing performance. Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenues, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments . Chief executive officer is determined as the CODM of the Company. The Company has organized operations into three different areas: (1) parking fee, (2) winery sales, and (3) others. CODM has access them as separate operating segments. The following table set forth the operating segment reporting Schedule of Operating Segment For the Year Ended February 28, 2026 Parking fee Winery sales Others Consolidated Current assets $ 1,443,502 $ 694,373 $ 75,008 $ 2,212,883 Non-current assets 5,563,459 - - 5,563,459 Revenues 1,369,618 70,500 102,749 1,542,867 Segment gross profit (94,087 ) 8,188 (13,100 ) (98,999 ) Segment gross margin (6.87 )% 11.61 % (12 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

3. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements include the balances and results of operations of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchanges Commission (SEC) and in conformity with generally accepted accounting principles in the U.S. (US GAAP). The accompanying financial statements are presented on the basis that the Company is a going concern. The going concern assumption contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Going Concern In assessing the Companys liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Companys liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Companys management has considered whether there is substantial doubt about its ability to continue as a going concern due to (1) the net loss of $6,706,122 for the year ended February 28, 2026; (2) accumulated deficit of $41,996,913 as of February 28, 2026; and (3) the working capital deficit of $9,754,932 as of February 28, 2026. Management has determined there is substantial doubt about its ability to continue as a going concern. Management will implement strategies and plans to grow the Companys business and generate substantial revenue, and take further measures to control operating costs. …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

22. Subsequent Events Jinyun Tingxiang Parking Service Co., Ltd was incorporated on April 17, 2026, which is 100 % owned by Hangzhou Zhuyi. Zhejiang Yinpai Technology Co., Ltd. filed a claim against Hangzhou Zhuyi in connection with a dispute arising from a technical entrustment development contract. The plaintiff was unsuccessful in the first instance on April 29, 2026 and is expected to appeal. To date, the Company has not received any notice of appeal. The Company has performed an evaluation of subsequent events through July 20, 2026, which was the date of the issuance of the consolidated financial statements, and determined that no other events would have required adjustment or disclosure in the consolidated financial statements other than that discussed above.

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15. Commitments and contingencies A corporate plaintiff, Zhejiang Yinpai Technology Co., Ltd., filed a claim against Hangzhou Zhuyi in connection with a dispute arising from a technical entrustment development contract. The plaintiff was unsuccessful in the first instance and is expected to appeal. As of the reporting date, certain assets of Hangzhou Zhuyi, including its property located in Building B8, China Smart Valley, Hangzhou, and three bank accounts, remain frozen.

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13. Income Taxes PRC The Companys subsidiaries incorporated in the PRC are subject to a profits tax rate of 25 % for income generated and operation in the country. The full realization of the tax benefit associated with the carry forward losses depends predominantly upon the Companys ability to generate taxable income during the carry forward period. Income tax expense (benefits) Schedule of Income Tax Expenses (Benefits) For three months ended May 31, 2026 For three months ended May 31, 2025 $ $ Loss before tax (617,240 ) (405,324 ) Tax credit calculated at statutory tax rate (154,310 ) (101,331 ) Effect of different tax rates 42,963 4,267 Deferred tax asset not recognized during the year 111,347 100,611 Total income tax expense - 3,547 As of May 31, 2026 and February 28, 2026, the significant components of the deferred tax assets and deferred tax liabilities are summarized below: Schedule of Deferred Tax Assets And Deferred Tax Liabilities May 31, 2026 February 28, 2026 $ $ Deferred tax assets: Net operating loss carrying forward 5,633,915 5,456,466 Allowance on doubtful accounts 614,075 606,227 Deferred tax assets, gross 6,247,990 6,062,693 Less: valuation allowance (6,247,990 ) (6,062,693 ) Deferred tax assets, net - - The Company accounts for income taxes using the asset/liability method prescribed by ASC 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

14. Leases Right-of-use (ROU) assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company entered into 6 agreements for renting offices, and warehouses. As of May 31, 2026, the Company has $ 179,389 of right-of-use assets, $ 32,139 in current operating lease liabilities and $ 116,888 in non-current operating lease liabilities. Significant assumptions and judgments made as part of the adoption of this new lease standard include determining (i) whether a contract contains a lease, (ii) whether a contract involves an identified asset, and (iii) which party to the contract directs the use of the asset. The discount rates used to calculate the present value of lease payments were determined based on hypothetical borrowing rates available to the Company over terms similar to the lease terms. The Companys future minimum payments under long-term non-cancellable operating leases are as follows: Schedule of Future Minimum Payments Under Long Term Non-Cancellable Operating Lease As of May 31, 2026 As of February 28, 2026 $ $ Within 1 year 37,875 13,405 After 1 year but within 5 years 82,814 26,105 over 5 years 52,918 52,211 Total lease payments 173,607 91,721 Less: imputed interest (24,580 ) (17,996 ) Total lease obligatio …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

16. Long term payable Schedule of Long Term Payable May 31, 2026 February 28, 2026 $ $ Long term payable 26,181,530 25,641,883 Total 26,181,530 25,641,883 During the year ended February 29, 2024, the Company entered into fourteen contracts with fourteen agents allowing them to use the Companys software application to parking lots in the cities that are specified in the contracts for collecting fee. These contracts were terminated by the end of February 29, 2024 by mutual agreements. The Company entered into a three-year loan with Zhibo on September 20, 2019. The agreement commenced on October 1, 2019. The maximum borrowing is RMB 300,000,000 (USD$ 45,028,818 ) with an interest rate of 3.6 %. 25 % of the outstanding balance should be repaid each quarter. Supplementary contracted were signed between the two parties agreeing there would be no repayment of principle for the next 12 months and interest expense was waived. The Company entered into a two-year interest-free agreement with Zhibo on September 1st, 2020 at which date the contracted commenced. Principle was RMB 22,000,000 (USD$ 3,302,098 ). As of February 28, 2023, the outstanding balance of the two loans combined was RMB 215,280,227.44 (USD$ 31,053,765 ). Zhibo extended the above contracts to September 30, 2025 when they expired in 2022. Repayments and interest expenses are not required until September 30, 2024. Interest expenses calculated on an annual rate of 3% will be paid monthly from 1 October, 2024. Principle wil …

LongTermDebtTextBlock · excerpt; the full note is in the filing

12. Related Party Transactions The following is a list of related parties which the Company had transactions with during the three months ended May 31, 2026 and the year ended February 28, 2026: Summary of Related Parties Name and Relationship Name Relationship (a) Strength Union Holdings Limited Shareholder (b) Virtue Victory Holdings Limited Shareholder (c) Intellegence Triumph Holdings Limited Shareholder (d) Guowei Zhang President of the Company (e) Sichuan Zhicheng Qifeng Technology Co., Ltd Minority shareholder (f) Xiujuan Chen Shareholder (g) Ben Liu Chief Executive Officer (a) The Company had the following transactions with related parties: Schedule of Transactions with Related Parties Name Nature For three months ended May 31, 2026 Sichuan Zhicheng Qifeng Technology Co., Ltd. Cost of revenues 10,739 (b) The Company had the following balances due to and due from related parties: Schedule of Related Party Transactions At May 31, 2026 and February 28, 2026, the Company owned funds from the following related parties: February 28, 2026 Provided Received Repayment Cost of revenue Exchange Rate Translation May 31, 2026 Intellegence Triumph Holdings Limited $ 5,000 $ - $ - $ - $ - $ 5,000 Virtue Victory Holdings Limited 5,200 - - - - 5,200 Strength Union Holdings Limited 5,800 - - - - 5,800 Sichuan Zhicheng Qifeng Technology Co., Ltd - 10,739 - (10,739 ) - - Total amounts due from related parties $ 16,000 $ 10,739 $ - $ (10,739 ) $ - $ 16,000 At May 31, 2026 and February 28, …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

19. Segment Reporting ASC 280, Disclosures about Segments, of an Enterprise and Related Information, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise engaging in business activities from which they may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision-marker, or decision-making group (the CODM), in deciding how to allocate resources and in assessing performance. Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenues, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments. Chief executive officer is determined as the CODM of the Company. The Company has organized operations into three different areas: (1) parking fee, (2) winery sales, and (3) others. CODM has access them as separate operating segments. The following table set forth the operating segment reporting: Schedule of Operating Segment Parking fee Winery sales Others Consolidated For the three months Ended May 31, 2026 Parking fee Winery sales Others Consolidated Revenues $ 281,938 $ - $ 24 $ 281,962 Segment gross profit 89,536 - (16 ) 89,520 Segment gross margin 31.76 % - % (66.67 )% 31.75 % Selling expenses 65,656 - - 65,656 General and administrative e …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

3. Summary of Significant Accounting Policies The Companys significant accounting policies have not changed from the year ended February 28, 2026. The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United Statements of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Companys Annual Report on Form 10-K for the fiscal year ended February 28, 2026, as filed with the SEC on July 20, 2026 . Operating results for the three months ended May 31, 2026 are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending February 28, 2026. Going Concern The Company incurred net loss of $ 617,240 during the three months ended May 31, 2026. As of May 31, 2026, the Company had total deficit of $ 42,601,318 and had working capital deficit of $ 10,124,170 . The Company incurred net loss of …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

21. Subsequent Events The Company has performed an evaluation of subsequent events through July 20, 2026, which was the date of the issuance of the consolidated financial statements, and determined that no events would have required adjustment or disclosure in the consolidated financial statements other than that discussed above.

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