Ata Creativity Global Stock Price, News & Analysis

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.

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.