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November 10 , 2021 ATA Creativity Global Reports 2021 Third Quarter Financial Results Conference Call on Wednesday , November 10 , 2021 , at 8 p.m. ET with Accompanying Investor Presentation BEIJING , Nov. 10 , 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 and nine months ended September 30 , 2021 ( " Third Quarter 2021 " and " Nine Months 2021 " , respectively ) . Third Quarter 2021 and Nine Months 2021 Highlights . During Third Quarter 2021 , student enrollment remained steady at 1,220 , compared with 1,225 in the prior - year period . Of these students , 625 were enrolled in ACG's portfolio training programs . 44,640 credit hours were delivered during Third Quarter 2021 , compared to 44,203 in the prior - year period . • Third Quarter 2021 net revenues increased 31.0 % to RMB55.3 million ( US $ 8.6 million ) , from RMB42.2 million in the prior - year period , primarily driven by increased contributions from portfolio training and research - based learning services . • Third Quarter 2021 net loss attributable to ACG was RMB26.2 million ( US $ 4.1 million ) , compared to net loss attributable to ACG of RMB14.9 million in the prior - year period , primarily due to increased operating expenses described in the Third Quarter 2021 Financial Review below . • Nine Months 2021 net revenues increased 28.0 % to RMB129.6 million ( US $ 20.1 million ) , from RMB101.3 million in the prior - year period • Nine Months 2021 net loss attributable to ACG improved to RMB31.1 million ( US $ 4.8 million ) , compared to net loss attributable to ACG of RMB67.4 million in the prior - year period • RMB75.2 million ( US $ 11.7 million ) in cash and cash equivalents as of September 30 , 2021 Management Commentary Mr. Kevin Ma , Chairman and CEO of ACG , stated , " We are pleased to have achieved over 30 % growth on the top line during Third Quarter 2021 , driven primarily by increased contributions from our portfolio training and research - based learning services , supported by steady enrollments across our major service lines . We are pleased to see increasingly positive reception of and interest in our research - based learning programs and will continue to explore ways in which we can better support existing and potential students given the changing education landscape . During Third Quarter 2021 , we continued to invest in the development of new offerings and our existing IT platform , which we believe will help drive future growth . We are committed to maintaining our leading position in creative arts education with a focus on positive outcomes for our students . " Outlook Mr. Jun Zhang , President of ACG , stated , " In recent months , there has been a great deal of uncertainty in the Chinese education industry . We have seen some companies close their doors due to their inability to operate through the challenges of the pandemic , and others are struggling and offering significant discounts to attract students . In addition , certain after- school tutoring institutions have been unable to continue to provide their academic course tutoring services for K - 12 students as a result of the government's recently announced Opinions on Further Alleviating the Burden of Homework and After - School Tutoring for Students in Compulsory Education ( the " Opinion " ) . While our portfolio training services and other art - related services are not considered academic tutoring for K - 12 students and thus not subject to the Opinion , the Opinion appears to have affected certain consumers ' confidence in the overall education industry . In this environment , students and parents are hesitant to commit to paying for longer programs . In response to the foregoing , ACG has been exploring potential alternative offerings that may be better fit for students ' needs . With over 20 campus locations nationwide and a proven track record of our students going on to well - known art schools and institutions around the world , we remain confident in ACG's ability to stand out from our competitors . " Operating Review Enrollment Update ACG student enrollment for Third Quarter 2021 was 1,220 , of which 625 were enrolled in portfolio training programs , which consisted of time - based programs and project - based programs .