SHANGHAI, June 26, 2025 /PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four Seasons Education" or the "Company") (NYSE: FEDU), a tourism and education-related service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended February 28, 2025, with the Securities and Exchange Commission (the "SEC") on June 26, 2025. The annual report can be accessed on the Company's investor relations website at https://ir.sijiedu.com and on the SEC's website at www.se ...

OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 28, 2025. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 001-38264 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION W ...

SHANGHAI, Feb. 3, 2025 /PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four Seasons Education" or the "Company") (NYSE: FEDU), a tourism and education-related service provider in China, today announced that it has received a letter from the New York Stock Exchange (the "NYSE") dated January 30, 2025 (the "Notice"), notifying the Company that it is no longer in compliance with the minimum stockholder requirement for continued listing on NYSE pursuant to Section 802.01 "Continued Listing Criteria" of t ...

SHANGHAI, Dec. 20, 2024 /PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four Seasons Education" or the "Company") (NYSE: FEDU), a tourism and education-related service provider in China, today announced its unaudited financial results for the first half of fiscal year 2025, ended August 31, 2024. Financial and Operational Highlights for the First Half of Fiscal Year 2025 Revenue increased by 117.8% to RMB134.7 million (US$19.0 million), compared to RMB61.8 million in the same period of last year. Gr ...

SHANGHAI, Aug. 14, 2024 /PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four Seasons Education" or the "Company") (NYSE: FEDU), a tourism and education-related service provider in China, today announced that its Board of Directors has declared a cash dividend of US$0.23 per ordinary share, or US$2.30 per American Depositary Share ("ADS"). The dividend is expected to be paid on or about September 12, 2024 to holders of ADS and ordinary shares of record as of the close of business on August 31, 2024, a ...

SHANGHAI, June 27, 2024 /PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four Seasons Education" or the "Company") (NYSE: FEDU), a tourism and education-related service provider in China, today announced that it has filed its annual report on Form 20-F for the fiscal year ended February 29, 2024, with the Securities and Exchange Commission (the "SEC"). The annual report can be accessed on the Company's investor relations website at https://ir.sijiedu.com and on the SEC's website at www.sec.gov. The Co ...

VIEs and Revenue Structure - VIEs contributed 100%, 97.6%, and 99.3% of the company's net revenues for the fiscal years ended February 28, 2022, 2023, and February 29, 2024, respectively[18]. - In the 2024 fiscal year, Shanghai Fuxi received service fees of RMB3.6 million (US$0.5 million) from the VIEs and did not distribute any dividends[31]. - The company relies on service fees from the VIEs for its revenue, which are subject to PRC legal restrictions[31]. - The company’s ability to pay dividends is contingent upon the financial performance of its PRC subsidiaries and VIEs[56]. - The VIEs paid RMB 3.6 million to the WFOE as service fees and repaid RMB 25.2 million in working capital support[61]. - The company relies on dividends from its PRC subsidiaries, which can only be paid out of accumulated profits after statutory reserves are funded[52]. - The company has invested RMB 20.9 million in Other Subsidiaries for the year ended February 28, 2023[59]. - For the fiscal year ended February 29, 2024, the WFOE transferred RMB 2.0 million to Other Subsidiaries and RMB 23.5 million to VIEs as working capital support[61]. Regulatory Environment and Compliance - The company ceased offering K-9 Academic AST Services in mainland China at the end of 2021 due to regulatory changes[21]. - The PRC government has increased scrutiny over overseas listed PRC businesses, which may adversely affect operations and the ability to offer securities to overseas investors[34]. - The Overseas Listing Trial Measures, effective March 31, 2023, require PRC domestic companies to file with the CSRC for overseas offerings, with potential sanctions for non-compliance[37]. - The company must comply with evolving PRC laws and regulations regarding data privacy and cybersecurity, which could lead to penalties if not adhered to[35]. - The company is closely monitoring regulatory changes and is cooperating with government authorities to ensure compliance[39]. - The company is required to obtain various operating licenses and permits for its business operations in China, and failure to comply may adversely affect its results[85]. - The PRC government has lifted many COVID-19 restrictions since December 2022, but future impacts on operations remain uncertain[124]. - The company is not currently subject to cybersecurity review as it does not possess a large amount of personal information and its business does not impact national security[164]. Financial Performance and Risks - Revenue for the year ended February 28, 2023, was RMB 34,216 thousand, a significant increase from RMB 250,223 thousand for the year ended February 28, 2022[65]. - Operating loss for the year ended February 28, 2023, was RMB 35,665 thousand, compared to an operating loss of RMB 66,214 thousand for the previous year[65]. - Net loss attributable to Four Seasons Education (Cayman) Inc. for the year ended February 28, 2023, was RMB 29,666 thousand, a decrease from RMB 113,462 thousand in the prior year[67]. - The company reported a net cash increase of RMB 125,188,000 in cash, cash equivalents, and restricted cash during the year[77]. - The company faces significant risks related to the inability to develop new learning products under recent regulatory policies in China, which could adversely affect its business and operations[44]. - The company's historical financial results may not be indicative of future performance, posing risks to investors[44]. - The trading price of the company's ADSs is likely to be volatile, potentially resulting in substantial losses for investors[55]. - The company may face unfavorable tax consequences if classified as a PRC "resident enterprise" for tax purposes[59]. Operational Challenges and Market Conditions - The company faces significant competition in the learning services and tourism services markets in China, which is rapidly evolving and highly fragmented[108]. - The company has limited experience in responding quickly to changes in the market and may face challenges in executing new initiatives[84]. - The company may not be able to improve its current business to meet the demands of learners and educational institutions, potentially leading to a decline in customer satisfaction and financial performance[44]. - The company may face difficulties in recruiting and retaining qualified faculty members due to regulatory restrictions and competition[95]. - The company’s ability to attract learners and customers with new products and services is critical for future revenue growth[93]. - The company may face challenges in integrating future acquisitions, which could adversely affect its business and operating results[112]. Legal and Taxation Risks - The PRC tax authorities may scrutinize the contractual arrangements with VIEs, potentially leading to increased tax liabilities and reduced net income[141]. - A transfer pricing adjustment could result in additional tax obligations for the VIEs, affecting the company's net income[142]. - If any VIE undergoes bankruptcy or liquidation, the company may lose access to critical assets, adversely impacting operations and financial condition[143]. - The SAT Circular 698 requires foreign investors to report indirect transfers of equity interests in PRC resident enterprises, with potential re-characterization of such transfers for tax purposes[185]. - The company faces potential taxation risks related to the disposition of ordinary shares or ADS, which may adversely affect its financial condition and operations[190]. Internal Control and Governance - The company identified a material weakness in internal control over financial reporting, which could impair its ability to comply with financial reporting requirements[127]. - The company has taken measures to improve internal controls but cannot assure full remediation of identified weaknesses[127]. - The largest shareholder, Mr. Peiqing Tian, may have potential conflicts of interest that could adversely affect the company[140]. - The company relies on Mr. Peiqing Tian to comply with contractual obligations regarding Variable Interest Entities (VIEs), which could impact control and economic benefits[140]. Currency and Exchange Risks - Revenue is primarily denominated in Renminbi, and currency exchange restrictions may limit the company's ability to utilize this revenue for business activities outside of China[191]. - Fluctuations in the Renminbi's value against the U.S. dollar could materially impact the company's financial results and the value of its ADS[196]. - Current PRC regulations allow dividends from subsidiaries to be paid only from accumulated profits, which may restrict the company's cash flow[195]. Future Outlook and Strategic Initiatives - Future outlook includes a focus on market expansion and new product development to enhance revenue streams[69]. - The company’s growth strategies include enhancing services, technology, and content solutions, but execution may be hindered by various factors[93]. - The company relies on innovative technology, such as its self-developed intelligent class content development system, to fuel growth[101].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 28, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) ...