Release Date: August 08, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide more details on the growth in student enrollment and its impact on financial performance? A: Ruobai Sima, CFO, explained that student demand for portfolio training services expanded significantly, contributing RMB40.2 million in revenue, a 41.9% increase year-over-year. Total net revenue grew by 42.8% to RMB51.8 million. Enrollment increased by 16.8%, with 612 students in portfolio training programs, leading to a 49.3% rise in training credit hours delivered.
Q: What are the expectations for revenue growth in the second half of 2024? A: Xiaofeng Ma, CEO, reiterated revenue expectations for the year ending December 31, 2024, projecting total revenues between RMB233 million and RMB255 million, representing a 5% to 15% increase from fiscal year 2023. The second half is historically stronger, and this trend is expected to continue.
Q: How is ACG planning to expand its business and student base? A: Xiaofeng Ma, CEO, stated that ACG is focused on growing its student base and expanding current business offerings. The company is also exploring potential acquisition opportunities and will update the market on any material developments.
Q: Can you elaborate on the recent educational initiatives and their reception? A: Jun Zhang, President, highlighted the success of the United Nations Sustainable Development Goals Arts Boot Camp and other immersive cultural experiences. These initiatives have been well-received, providing students with unique learning opportunities and enhancing their portfolios for overseas applications.
Q: What is the outlook for ACG's overseas study counseling services? A: Xiaofeng Ma, CEO, noted a positive trend in the number of offers received by ACG students from top global institutions. This indicates increased demand for overseas study opportunities, which bodes well for the counseling services business.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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