ATA Creativity Global files 20-F

ATA Creativity Global reported a net loss of RMB 48.0 million ($6.7 million) for the fiscal year ended December 31, 2025, compared to a net loss of RMB 36.1 million in the prior year, primarily due to a goodwill impairment charge of RMB 33.9 million ($4.8 million) and a bad debt provision for other receivables of RMB 1.7 million. Total net revenues remained stable at RMB 268.1 million ($38.3 million) in 2025.