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ATA Creativity Global (NASDAQ: AACG) is a leading international educational services company dedicated to providing high-quality learning experiences that nurture and enhance students' creativity. Established in 1999, ATA Creativity Global leverages advanced assessment technologies to deliver professional testing, assessment, and related services to a diverse clientele, including government authorities, academic institutions, corporate clients, and millions of test candidates.
The core business of ATA Creativity Global is divided into three primary segments:
- Overseas Art Study Services: This segment is the major revenue driver for the company, focusing on providing comprehensive counseling and training for students aspiring to pursue art education abroad. Services include portfolio training, research-based learning, and overseas study counseling.
- Other Educational Services: This segment offers a variety of educational services beyond overseas art studies, including educational consulting and training that cater to diverse student needs.
- K-12 Education Assessment and Other Services: ATA Creativity Global provides adaptive e-learning solutions and assessment services for the K-12 sector, leveraging their state-of-the-art technologies and extensive experience in test operations and administrations. With a delivery network of over 3000 test centers across China, the company ensures a robust and reliable infrastructure for educational assessments.
Recent achievements of ATA Creativity Global include significant advancements in their assessment technologies and successful partnerships with various educational institutions. The company has also made considerable strides in enhancing its service offerings, continuously adapting to the evolving educational landscape.
Financially, ATA Creativity Global has shown resilience and growth, as reflected in their recent quarterly and annual reports. The company's robust balance sheet highlights its strategic investments and prudent financial management. Despite the challenges posed by the global educational environment, ATA Creativity Global remains committed to delivering exceptional educational services and maintaining its leadership in the industry.
For the latest updates, highlights, and performance reviews, ATA Creativity Global holds regular conference calls and investor presentations, providing transparent and detailed insights into their operations and financial health.
ATA Creativity Global (AACG), an international educational services provider, announced the successful completion of its 2024 Annual General Meeting on December 3, 2024. Shareholders approved all proposed items, including the re-election of Zhilei Tong as class A director and the re-appointment of Audit Alliance LLP as the company's independent auditor for fiscal year 2024. The board of directors and audit committee were authorized to determine Audit Alliance LLP's remuneration.
ATA Creativity Global (AACG) announced two updates regarding its Nasdaq listing compliance status. The company has regained compliance with the minimum bid price requirement, as its ADS closing price remained above $1.00 from November 1-25, 2024. However, AACG received notification of non-compliance with the minimum stockholders' equity requirement of $10 million for Nasdaq Global Market listing.
The company has until January 13, 2025, to submit a compliance plan. If accepted, Nasdaq may grant up to 180 days extension to regain compliance. Meanwhile, AACG's ADSs continue trading on Nasdaq Global Market, and business operations remain unaffected.
ATA Creativity Global (AACG) reported Q3 2024 financial results with net revenues increasing 13.1% to RMB67.3 million ($9.6 million) compared to Q3 2023. Student enrollment grew 17.9% to 1,289, with 57.8% in portfolio training programs. Despite revenue growth, the company reported a net loss of RMB14.7 million ($2.1 million), wider than the RMB7.3 million loss in Q3 2023. Gross margin decreased to 44.6% from 49.2% year-over-year. The company reiterated its fiscal year 2024 net revenue guidance of RMB233-255 million, representing 5-15% year-over-year growth.
ATA Creativity Global (AACG) announced it will release its 2024 third quarter financial results on November 7, 2024, after market close. The company will host a conference call at 8:00 p.m. Eastern Time on November 7 (9:00 a.m. Beijing Time on November 8) to discuss the results and management's outlook. A simultaneous audio webcast with slides will be accessible through the company's website and a dedicated webcast link. The replay will be available on the company's website after the call.
ATA Creativity Global (ACG) (Nasdaq: AACG) reported its Second Quarter 2024 financial results, showing improvements in key metrics.
Student enrollment rose 16.8% to 1,084, with 42,841 credit hours delivered, a 49.3% increase from the prior year.
Net revenues increased by 42.8% to RMB51.8 million (US$7.1 million), and the net loss narrowed to RMB16.8 million (US$2.3 million), compared to RMB17.2 million the previous year.
First Half 2024 net revenues were up 27.2% to RMB99.9 million (US$13.7 million), with a corresponding decrease in net loss to RMB34.7 million (US$4.8 million).
ACG reiterated its guidance of total net revenues between RMB233 million and RMB255 million for the fiscal year ending December 31, 2024.
ATA Creativity Global (AACG), an international educational services company, has announced the release of its 2024 second quarter financial results on August 7, 2024, after market close. The company will host a conference call at 9:00 p.m. ET on the same day to discuss the results. Investors can access the call via toll-free numbers for the U.S. & Canada, as well as international toll numbers. Local access is available for China and Hong Kong. A live webcast will also be available, along with an accompanying slide presentation on the company's investor relations website. For those unable to attend, a replay will be provided on the website after the call. The event will include a Q&A session following management's prepared remarks.
ATA Creativity Global (Nasdaq: AACG) received a notice from Nasdaq on May 29, 2024, indicating that its American depositary shares (ADSs) have fallen below the minimum bid price of $1.00 for 30 consecutive business days. As a result, the company has 180 days, until November 25, 2024, to regain compliance by achieving a closing bid price of at least $1.00 for 10 consecutive business days. If compliance is not regained by this date, the company may be eligible for additional time if it meets other Nasdaq listing requirements. AACG's business operations remain unaffected, and the company is monitoring its stock price closely to resolve the issue.
ATA Creativity Global (NASDAQ: AACG) reported a net revenue increase of 13.7% year-over-year for Q1 2024, reaching RMB48.1 million (US$6.7 million). Student enrollment grew by 24.9% to 1,370, and credit hours delivered rose by 21.3% to 33,527. However, the company posted a net loss of RMB17.9 million (US$2.5 million), consistent with the previous year's net loss. Gross profit increased by 16.8% to RMB21.9 million (US$3.0 million) with a gross margin of 45.5%. ACG maintained cash and cash equivalents of RMB57.6 million (US$8.0 million). Operating expenses increased to RMB43.6 million (US$6.0 million), attributed to hiring additional sales personnel. The company reaffirmed its 2024 revenue guidance of RMB233-255 million, predicting a 5-15% year-over-year growth.
ATA Creativity Global (AACG) announced the release of its financial results for the first quarter of 2024 on May 14, 2024. The conference call to discuss the results will be held on May 15, 2024. The Company will provide a webcast and slide presentation for investors, with a Q&A session following management's remarks.
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