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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) reported preliminary financial results for the fourth quarter and fiscal year 2022. Net revenues rose 8.2% in Q4 to RMB78.5 million (US$11.4 million) and increased 2.3% for the fiscal year to RMB206.8 million (US$30.0 million). Despite these gains, the company reported a net loss of RMB47.9 million (US$6.9 million) for the fiscal year, widened from a loss of RMB33.6 million the prior year. Q4 gross profit was RMB47.6 million, with a 60.6% gross margin. Student enrollment decreased to 908 from 1,052, impacted by COVID-19 lockdowns. The company aims for ongoing expansion and enhanced offerings in 2023.
ATA Creativity Global (Nasdaq: AACG) will release its financial results for the fourth quarter and year ending December 31, 2022, after market close on March 30, 2023. The announcement will include a conference call at 9 p.m. ET, where management will discuss the results and take questions from investors.
A webcast of the call will be accessible online, and an accompanying slide presentation will be available prior to the event. For those unable to attend live, a replay will be provided on the company's investor relations webpage.
ATA Creativity Global (AACG) reported preliminary financial results for Q3 2022, with net revenues of RMB52.1 million (US$7.3 million), a decrease from RMB55.3 million in the previous year. Student enrollment declined to 1,106 from 1,220, and credit hours delivered fell to 36,031 from 44,640 due to COVID-19 lockdowns impacting training services. The net loss narrowed to RMB12.0 million (US$1.7 million) compared to RMB26.2 million last year. Cash and cash equivalents stood at RMB59.9 million (US$8.4 million) as of September 30, 2022. The company continues to innovate with new programs despite the challenging environment.
ATA Creativity Global (AACG), an international educational services company, will announce its third quarter and nine months financial results for 2022 on November 30, 2022, after market close. A conference call will follow at 8 p.m. ET, providing details and insights into the company's performance. Participants can join via dial-in or online webcast, with a replay available afterward. ATA Creativity Global specializes in creative learning experiences, portfolio training, and overseas study counseling.
ATA Creativity Global (AACG) released preliminary financial results for Q2 and H1 2022, revealing a net revenue drop to RMB34.0 million (US$5.1 million) from RMB36.8 million the previous year, attributed to COVID-19 lockdowns in major cities. Student enrollment fell slightly to 1,018 from 1,051, with significant declines in credit hours delivered. The company reported a net loss of RMB22.1 million (US$3.3 million), contrasting with a net income of RMB14.1 million last year. Cash reserves stood at RMB60.5 million (US$9.0 million) as of June 30, 2022.
ATA Creativity Global (AACG) reported preliminary financial results for Q1 2022, showing a 12.1% revenue increase to RMB42.1 million ($6.6 million) compared to RMB37.6 million in Q1 2021. Student enrollment rose by 3.4% to 997, with 27,494 credit hours delivered. The net loss improved to RMB15.9 million ($2.5 million) from RMB19.0 million year-over-year. Gross profit grew by 29.6%, leading to a gross margin of 45.7%. As of March 31, 2022, ACG held RMB62.4 million ($9.8 million) in cash. The company remains optimistic about its recovery amid ongoing COVID-19 challenges.
ATA Creativity Global (AACG) announces the appointment of Ruobai Sima as Chief Financial Officer, effective May 12, 2022. Sima brings 17 years of finance and accounting experience, having held CFO positions in various companies, including automotive services. He replaces Amy Tung, who steps down for personal reasons but will remain as an advisor during the transition. CEO Kevin Ma expressed confidence in Sima's expertise to enhance the company's mission in educational services, aiming for strategic growth.
ATA Creativity Global (AACG) has announced its financial results for the first quarter ending March 31, 2022, set to be released after market close on May 12, 2022. A conference call will be held the same day at 9 p.m. ET to discuss these results. Investors can access the live webcast and a PDF slide presentation on the company’s website. ATA Creativity Global is focused on enhancing students' creativity through various educational services including portfolio training and overseas study counselling.
ATA Creativity Global (AACG) announced its provisional identification as a Commission-Identified Issuer by the SEC under the Holding Foreign Companies Accountable Act (HFCAA) on May 4, 2022. This identification stems from the company's auditor's working papers not being fully inspectable by the PCAOB for the fiscal year ending December 31, 2021. If this situation persists for three consecutive years, AACG's securities could be prohibited from trading on U.S. exchanges. The company aims to find solutions to safeguard stakeholder interests while maintaining compliance with regulations.
ATA Creativity Global (AACG) announced the filing of its annual report on Form 20-F for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission. Shareholders can obtain a free hard copy of the report upon request. The report highlights the company's focus on providing quality educational services that enhance creativity among students. ACG offers various services, including portfolio training and overseas study counseling, through its expansive training center network. For more details, the report is accessible on their investor relations website.
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