Educational experiences and services company ATA Creativity Global has announced a 2021 net loss of ¥36.4 million (£4.4 million), compared to a net loss of ¥100.6 million reported for 2020.

The company’s net revenue for the year was ¥202.2 million, up from ¥162.2 million reported for 2020.

The Beijing-based company also reported results for the fourth quarter of 2021. Its net loss for the period was ¥3.4 million, compared to a net loss of ¥27.2 million reported for Q4 2020. Revenue for the quarter was ¥72.6 million, compared to net revenue of ¥60.8 million reported for Q4 2020.

ATA Creativity Global’s chairman and chief executive Kevin Ma said: “We were pleased to have achieved 24.7% growth on the top line in fiscal year 2021, significantly reducing losses compared to the prior year. During the year, we observed a gradual increase in portfolio training credit hours delivered, as well as notable enrolment growth in other programmes such as research-based learning, as the public health situation in China and many parts of the world improved with the introduction of vaccines in the first half of 2021. The increase in services delivered to portfolio training students, combined with our efforts to transition students to project-based programmes from time-based programmes, and the positive response to our new research-based learning offerings, among others, have yielded our solid fiscal year 2021 results.

“In the second half of the year, we began to see competition increase in the creative arts education industry in China. ACG takes pride in the superior education we provide to our students, as well as the ongoing support we offer throughout the process of developing a high-quality portfolio and applying for overseas art colleges. This has resulted in a number of our students receiving offers of admission and scholarships from top-tier art institutions in the US, UK and other countries. We look forward to continuing to serve more and more students as they pursue creative arts education and other experiential learning opportunities.”

Date published: 18 March 2022

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