The following is a summary of the ATA Creativity Global (AACG) Q4 2023 Earnings Call Transcript:

Financial Performance:

• ATA Creativity Global reported full year 2023 revenue of RMB221.6 million, a 7.2% increase year over year.

• For the fourth quarter of 2023, the increase in total student enrollment and delivered portfolio training credit hours resulted in a 6.5% increase in quarterly net revenues.

• Gross margins for the full year and fourth quarter improved to 62.6% and 51.7% respectively, primarily driven by increased net revenue.

• The company significantly reduced its net loss by 29.7% for the full year 2023 due to a decrease in operating expenses and increase in revenue.

• The company ended the year with higher cash and cash equivalents compared to the end of 2022.

Business Progress:

• For 2024, ATA Creativity Global will continue to focus on portfolio training services as the core of their business, expanding existing operations and seeking international partnerships.

• New innovative programs were launched in 2023, including a four-year bachelor's program designed for junior high school graduates, offering services beyond traditional academic backgrounds.

• The company successfully hosted multiple programs in the fourth quarter of 2023, including regular Master Class, the October Shanghai Fashion Week program, and the part-time assist program.

• For the fiscal year 2024, the company expects a 5% to 15% increase in total net revenue, confirming their ambitious growth plans.

More details: ATA Creativity Global IR

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