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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) announced preliminary unaudited financial results for Q4 and FY 2021. FY 2021 net revenues rose 24.7% to RMB 202.2 million (US$31.7 million), with a net loss reduced to RMB 33.6 million (US$5.3 million). Q4 2021 net revenues increased 19.3% to RMB 72.6 million (US$11.4 million), with an improved net loss of RMB 2.5 million (US$0.4 million). Student enrollment was 1,052 in Q4, with portfolio training program revenues contributing RMB 54.2 million, or 74.7% of total revenues. As of Dec 31, 2021, cash and cash equivalents totaled RMB 71.3 million (US$11.2 million).
ATA Creativity Global (AACG) announced plans to release its financial results for the fourth quarter and full year ending December 31, 2021, on March 17, 2022, after market close. A conference call will follow at 9 p.m. ET to discuss these results. Investors can join the call via dial-in numbers provided, or by accessing a live webcast on the company's website. ATA Creativity Global focuses on enhancing student creativity through various educational services, including portfolio training and overseas study counseling.
ATA Creativity Global (AACG) has received approval from Pearson Education to deliver BTEC International Level 3 and A Level Art & Design qualifications at the ACG International Arts Foundation Program Center. These programs aim to equip high school students with vocational knowledge and skills, allowing them to apply for overseas art programs without a traditional Chinese diploma. The ACG Program Center offers a complete three-year art curriculum, featuring flexible options for students pursuing international studies. The CEO emphasized the significance of this approval in enhancing ACG's educational offerings.
ATA Creativity Global (AACG) has launched the Shuren-ACG Arts Center in Beijing, aimed at providing educational opportunities for students, particularly non-Beijing hukou residents. The Arts Center offers a dual-track Sino-German art curriculum, allowing students to pursue a creative education in China and Germany. Core course offerings include art skills, creativity courses, and art history, designed to meet the requirements for top art schools in both countries. The initiative responds to the educational needs of families seeking alternative schooling options amidst the growing demographic of non-residents in Beijing.
ATA Creativity Global (AACG), an international educational services firm, held its 2021 Annual General Meeting on December 3, 2021. Shareholders approved all proposals, including the re-election of Zhilei Tong as a Class A director and the reappointment of KPMG Huazhen LLP as the independent auditor for the fiscal year ending December 31, 2021. The meeting underscores the company's commitment to providing quality educational experiences and enhancing student creativity.
ATA Creativity Global (AACG) announced the opening of its ACG International Arts Foundation Program Center in Beijing as of September 5, 2021. This center provides a one-year accredited curriculum for students aiming to apply to international undergraduate art programs, serving as a substitute for the final year of high school in China. It has been approved by Pearson to offer BTEC diploma qualifications and international GCSEs. This initiative allows students to meet admissions requirements for arts colleges globally, emphasizing ACG's commitment to enhancing creative education.
ATA Creativity Global (AACG) reported preliminary unaudited financial results for Q3 and the first nine months of 2021. Q3 net revenues grew by 31% to RMB55.3 million (US$8.6 million) from RMB42.2 million in the previous year, driven by portfolio training and research-based services. However, net loss widened to RMB26.2 million (US$4.1 million) due to increased operating expenses. For nine months, revenues rose 28% to RMB129.6 million (US$20.1 million), while net loss improved to RMB31.1 million (US$4.8 million). As of September 30, 2021, cash and equivalents stood at RMB75.2 million (US$11.7 million).
ATA Creativity Global (AACG) will release its financial results for Q3 and the nine months ending September 30, 2021, on November 10, 2021, after the market close. The conference call discussing these results is scheduled for 8 p.m. ET on the same day. Interested investors can access the live webcast and accompanying slide presentation on ACG’s website. The company specializes in educational services designed to enhance creativity among students, offering a breadth of training and counseling services.
ATA Creativity Global (AACG) reported strong preliminary financial results for Q2 and H1 2021. Q2 net revenues soared 39.4% to RMB36.8 million ($5.7 million), driven by a rise in student enrollment to 1,051, up from 772 a year earlier. Net income for Q2 was RMB14.1 million ($2.2 million), compared to a loss of RMB32.1 million in the previous year. The company’s cash position was RMB91.4 million ($14.2 million). ACG expects continued growth by leveraging its core educational services and adapting to market changes post-pandemic.
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