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ATA CREATIVITY GLOBAL

(AACG)
  Report
Delayed Quote. Delayed Nasdaq - 01/20 04:00:00 pm
1.83 USD   +0.55%
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ATA Creativity Global Announces Opening of International Arts Foundation Program Center in Beijing

12/01/2021 | 08:31am EST

BEIJING, Dec. 01, 2021 (GLOBE NEWSWIRE) -- ATA Creativity Global ("ACG" or the "Company", Nasdaq: AACG), an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity, today announced the opening of its ACG International Arts Foundation Program Center in Beijing, which officially opened its doors on September 5, 2021.

The ACG International Arts Foundation Program Center is a learning center, currently providing one-year accredited full-time international arts and relevant introductory curriculum to students planning to apply for overseas undergraduate art programs. The curriculum provided by ACG International Arts Foundation Program Center serves as a substitute for the senior year of high school and enables students in China to apply for international universities without completing the standard set of Chinese high school courses.

The ACG International Arts Foundation Program Center has received approval from Pearson to deliver BTEC diploma qualifications, as well as international GCSEs (globally recognized qualifications designed specifically for international learners) and advanced level examinations. BTECs are career-focused qualifications taken by over 1 million learners each year and are recognized in more than 70 countries around the world. Upon completion of the one-year program at the ACG International Arts Foundation Program Center, students will receive a BTEC Diploma and be eligible to apply for certain sophomore courses during their first year of college, primarily at undergraduate arts colleges in the United Kingdom and other countries, as BTEC foundation course credits can be converted and applied as credits in universities.

Management Commentary
Mr. Kevin Ma, Chairman and CEO of ACG, stated, “We are excited to announce the grand opening of our ACG International Arts Foundation Program Center in Beijing, which expands our offerings to a greater population of students from diverse backgrounds, specifically high school students who are passionate about pursuing higher education in creative arts and applying for overseas art schools. ACG is pleased to have obtained approval for delivering BTEC diploma qualifications with this curriculum currently being offered at the ACG International Arts Foundation Program Center. Many well-known international arts colleges require students have a minimum of one year enrollment in arts-related courses, and the ACG International Arts Foundation Program Center ensures that students meet these basic requirements while providing academic and emotional support. It is a tailored solution to this population of students, and we look forward to bringing them a well-rounded educational experience.”

Mr. Ma continued, “The ACG International Arts Foundation Program Center is ACG’s first learning center to deliver full-time accredited foundation courses. Our existing national network of over 20 locations have provided extracurricular courses and more flexible course offerings. We continue to explore ways in which we can better serve students coming from diverse academic backgrounds. Our goal is to help students realize their dreams of attending top arts schools all over the world.”

About ATA Creativity Global

ATA Creativity Global is an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity. ATA Creativity Global offers a wide range of education services consisting primarily of portfolio training, research-based learning, overseas study counselling and other educational services through its training center network. For more information, please visit ACG’s website at www.atai.net.cn.

Cautionary Note Regarding Forward-looking Statements

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as “believe,” “could,” “expect,” “future,” “look forward to,” “plan,” “should,” “will,” and similar terms. Examples of forward-looking statements in this press release include statements about the anticipated benefits of the opening of the ACG International Arts Foundation Program Center and launch of its curriculum, ACG’s plan and efforts to transform itself into a leading international education service provider, and ACG’s plans for mergers and acquisitions. These forward-looking statements involve known and unknown risks and uncertainties, are based on current expectations, assumptions, estimates, and projections by ACG, and are subject to governmental approvals and other conditions. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. The Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information on our company, please contact the following individuals:

At the Company Investor Relations  
ATA Creativity Global The Equity Group Inc.  
Amy Tung, Chief Financial Officer Carolyne Y. Sohn, Vice President  
+86 10 6518 1133 x5518 415-568-2255  
amytung@acgedu.cn csohn@equityny.com  
     
  Adam Prior, Senior Vice President  
  212-836-9606  
  aprior@equityny.com  
     

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Financials
Sales 2020 162 M 25,6 M 25,6 M
Net income 2020 -92,2 M -14,5 M -14,5 M
Net cash 2020 64,9 M 10,2 M 10,2 M
P/E ratio 2020 -0,38x
Yield 2020 -
Capitalization 361 M 56,9 M 56,9 M
EV / Sales 2019 1,48x
EV / Sales 2020 1,07x
Nbr of Employees 580
Free-Float 93,6%
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Managers and Directors
Xiao Feng Ma Chairman & Chief Executive Officer
Jun Zhang President & Director
Amy Tung Chief Financial Officer
Yan Yan Independent Director
Hong Ni Independent Director
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