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May 13 , 2021 ATA Creativity Global Reports First Quarter 2021 Financial Results Conference Call on Thursday , May 13 , 2021 , at 9 p.m. ET with Accompanying Investor Presentation BEIJING , May 13 , 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 preliminary unaudited financial results for the quarter ended March 31 , 2021 ( " First Quarter 2021 " ) . First Quarter 2021 Highlights • During First Quarter 2021 , student enrollment was 964 , an increase of 41.6 % from 681 in the prior - year period . Of these students , 528 were enrolled in ACG's portfolio training programs . Approximately 27,865 credit hours were delivered during First Quarter 2021 , an increase of 5.5 % from 26,410 in the prior - year period . • First Quarter 2021 net revenues of RMB37.6 million ( US $ 5.7 million ) , an increase of 15.0 % from RMB32.7 million in the prior - year period • First Quarter 2021 net loss attributable to ACG improved to RMB19.0 million ( US $ 2.9 million ) , from RMB20.5 million in the prior - year period • RMB95.6 million ( US $ 14.6 million ) in cash and cash equivalents as of March 31 , 2021 Management Commentary Mr. Kevin Ma , Chairman and CEO of ACG , stated , “ 2021 began with continued progress in the recovering pandemic environment as ACG reported a 41.6 % year - over - year increase in total student enrollment and 15 % growth on the top line , which was primarily driven by an overall increase in services delivered during First Quarter 2021. We were pleased to see enrollment growth across all our major programs , including portfolio training , overseas study counselling and research- based learning services , which continues to see strong demand and for which we continue to develop new programs . As the recovery from the global pandemic continues to unfold in the coming months , ACG is prepared to provide students with the best possible offerings for their artistic and creative pursuits whether that means a virtual workshop with a reputable overseas partner institution or a local art - themed tour with a small group of students . During First Quarter 2021 , we saw strong enrollment growth in our portfolio training programs with a total of 528 students , an increase of 30.7 % from the prior- year period , as well as an increase in credit hours delivered by 5.5 % to 27,865 . " Outlook Mr. Jun Zhang , President of ACG , stated , " We were pleased to see the positive turn in enrollment and credit hours delivered during First Quarter 2021 , which is a testament to the dedication of our quality teaching staff and to the value our students see in our academic and experiential offerings . We believe our improved and expanded research - based learning services business will make strong contributions toward the growth of ACG in 2021 as we are seeing some pent - up demand for both in - person and online hands - on learning experiences . We believe our current programs provide students with a wide range of options for pursuing their creative education , depending on their interests and preferred method of learning , and we are proactively developing additional programs and ways in which we can serve and nurture students with a passion for the arts . " Operating Review Enrollment Update ACG student enrollment for First Quarter 2021 was 964 , of which 528 were enrolled in its portfolio training programs , which consist of time - based programs and project - based programs . A total of 27,865 credit hours were delivered for portfolio training programs during First Quarter 2021 , of which 16,135 credit hours were delivered for time - based programs and 11,730 credit hours were delivered for project - based programs . These courses were delivered either in person through ACG's nationwide training center network or via online platform . The following is a summary of the credit hours delivered for ACG's portfolio training programs for First Quarter 2021 , compared to those for the prior - year period :