ATA Inc Shs Sponsored American Deposit Receipt Repr 2 Shs (NASDAQ:ATAI) Q3 2019 Earnings Conference Call - Final Transcript

Nov 14, 2019 • 08:00 pm ET


ATA Inc Shs Sponsored American Deposit Receipt Repr 2 Shs (NASDAQ:ATAI) Q3 2019 Earnings Conference Call - Final Transcript


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Good day and welcome, everyone, to the ATA Creativity Global 2019 Third Quarter Financial Results Conference Call, hosted by Carolyne Sohn. My name is Chris, and I'm your event manager today. [Operator Instructions]. I would also like to advise all parties that this conference call is being recorded.

And now I'd like to pass the call over to Carolyne. Please go ahead.

Carolyne Sohn

Thank you, Chris. And hello, everyone. Thank you for joining us. The press release announcing ATA Creativity Global's or ACG's results for the third quarter ended September 30th, 2019, is available at the IR section of the Company's website at As part of this conference call, the Company has an accompanying slide presentation available on the Company's 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 contain certain forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable as of today, those statements are subject to risks and uncertainties that could cause the actual results to differ dramatically from those projected.

There can be no assurance that those expectations will prove to be correct. Information about the risks associated with investing in ACG is included in its filings with the Securities and Exchange Commission, which we encourage you to review before making any investment decision. The Company does not assume any obligation to update any forward-looking 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 US dollar amounts in this conference call relating to financial results for the third quarter and nine months ended September 30th, 2019, are converted from RMB using an exchange rate of RMB 7.1477 to $1, the noon buying rate as of September 30th, 2019. All historical conversions are accurate as of the time reported unless otherwise noted. The Company reports its financial results under US GAAP, 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 through our webcast portal or via e-mail to the Company.

On today's call, the Company's CFO, Ms. Amy Tung, will provide a brief overview of operating and financial highlights for the third quarter of 2019. And then ACG's Chairman and CEO, Mr. Kevin Ma; and newly appointed President, Mr. Jun Zhang will conclude the remarks with a discussion of Huanqiuyimeng's latest developments. The Company's outlook as well as its long-term growth strategy