ATA Creativity Global

Greetings and welcome to the ATA Creativity Global first quarter 2022 financial results conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Alice Zhang of the Equity Group. Please go ahead.

Thank you, Hector. And hello, everyone. Thank you for joining us. The press release announcing ATA Creativity Globals, or ACGs, results for the first quarter ended March 31, 2022, is available at the IR section of the company's website at www.atai.net.cn. As part of this conference call, the company has an accompanying slide presentation available on its website. A replay of this broadcast will also be made available at ACG's website for the next 90 days. Before we get started, I would like to remind everyone that this conference call and any accompanying information discussed herein contains certain forelooking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forelooking statements can be identified by terms such as anticipate, believe, could, estimate, expect, forecast, future, intent, look forward to outlook, plan, should, will, and similar terms and include, among other things, statements regarding ACG's future growth and results of operations, ACG's plans for mergers and acquisitions generally, ACG's growth strategy, anticipated growth prospects and subsequent business activities, market demand for ACG's portfolio training programs and other education services, mainly including research-based learning and overseas study counseling services. The impact of COVID-19 on ACG and its operations, NACG's planned and anticipated benefits of the measures implemented in response to COVID-19. Although the company believes that the expectations reflected in its forward-looking statements are reasonable as of today, those statements are subject to risk and uncertainties that could cause the actual results to differ dramatically from those projected. There can be no assurance that those expectations were proved to be correct. Information about the risk associated with investing in ACG is included in filings with the Securities and Exchange Commission, which we encourage you to review before making an investment decision. The company does not assume any obligation to update any forelooking statements as a result of new information, future events, changes in market conditions, or otherwise, except as required by law. Regarding the disclaimer language, I would also like to refer you to slide two of the conference call presentation for further information. All U.S. dollar amounts in this conference call relating to financial results for the first quarter ending March 31st, 2022 are converted from RMB using an exchange rate of 6.3393 RMB to one U.S. dollar, the noon buying rate as of March 31st, 2022. All historical conversions are accurate as of the time reported, unless otherwise noted. The company reports its financial results on the U.S. gap in RMB, and all percentages calculated in the presentation are based on RMB, unless otherwise noted. For those of you following along with the accompanying PowerPoint presentation, there is an overview of the company on slide three. In addition, we are more than happy to take investor questions during today's Q&A sessions or via email to the company. On today's call, the company's chairman and CEO, Mr. Kevin Ma, will give some brief opening remarks before turning the floor over to CFO Mr. Ruo Bai Sima, who will provide a brief overview of operating and financial highlights for the first quarter of 2022. Kevin and President Mr. Jun Zhang will follow with an update on the company's outlook and its long-term growth strategy before opening the floor for questions. With that, I'll turn the call over to ACG's chairman and CEO, Mr. Kevin Ma. Please go ahead, Kevin.

Thank you, Alice, and welcome everyone. Good evening to those in America. We appreciate everyone's time. I'm pleased to be here today with Gene and Sima, our newly appointed chief financial officer. Sima succeeded Amy Tong, who has decided to step down as CFO for patent law reasons. Amy has been with SEG for over 15 years, serving various roles within finance and operations. She has played a key role in our development over these years, and we are grateful for her expertise and many valuable contributions over the years. But only do I consider Ho a close colleague but a friend. Amy will remain with ACG in an advisory capacity over the next few quarters to ensure a smooth transition, and we appreciate Ho's ongoing support. Mr. Smart. brings to ACG 70 years of experience in finance and accounting, as well as strategic and financial planning and execution at public and private companies in the financial automotive and travel industries. Free to join ACG, Mr. Sima served as CFO at various automotive service companies We are confident that his extensive expertise in finance and accounting will be an invaluable addition to our leadership team. With that, I will take it over to Sima to offer first quarter highlights.