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ATA Creativity Global Balance Sheet 2025-2009 | AACG
Brief overview of ATA Creativity Global's assets and capital
The review uses the five latest available annual reports between 2021 and 2025.
Across five reporting periods, assets decreased -19.5%, from 507.2 million CNY to 408.3 million CNY, producing a negative trend.
Liability growth of +19% exceeded asset growth of -19.5%, increasing reliance on outside funding.
Internal capital represents 7.8% of the balance sheet versus 37% five periods ago. The cushion is thin.
The period ended with net cash: net debt stood at -54.9 million CNY. This supports financial flexibility.
Retained earnings are negative at -475.9 million CNY. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Conclusion
ATA Creativity Global's balance sheet profile remains vulnerable. Lower liabilities and capital accumulation are the main routes to improvement.
Annual Balance Sheet ATA Creativity Global
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-54.9 M | -1.32 M | -37.6 M | -18.5 M | - | - | -129 M | -191 M | -219 M | -248 M | -240 M | -312 M | -290 M | -257 M | -268 M | - | - |
Long Term Debt |
15 M | 17.1 M | 9.5 M | 19.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
15.3 M | 18.1 M | 13.1 M | 16.9 M | - | 17 M | 20.6 M | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 101 M | 106 M | 39.2 M | 24.4 M | 1.88 M | 1.76 M | 2.2 M | 2.7 M | 3.24 M | 3.94 M | - | - |
Total Current Liabilities |
345 M | 354 M | 314 M | 293 M | 268 M | 275 M | 265 M | 19.7 M | 142 M | 74.4 M | 76.2 M | 77.1 M | 79.6 M | 91.1 M | - | - | - |
Total Liabilities |
376 M | 377 M | 336 M | 331 M | 316 M | 328 M | 326 M | 19.7 M | 127 M | 76.2 M | 77.9 M | 79.3 M | 82.3 M | 94.3 M | 71.4 M | - | - |
Deferred Revenue |
272 M | 280 M | 252 M | 220 M | 202 M | 199 M | 172 M | 1.63 M | 10.2 M | 16.6 M | 21.7 M | 8.38 M | 7.38 M | 27.3 M | 19.1 M | - | - |
Retained Earnings |
-476 M | -428 M | -392 M | -358 M | -310 M | -299 M | -200 M | -71.9 M | 38 M | 47.7 M | 21.7 M | -1.37 M | -28.6 M | -51.9 M | -108 M | - | - |
Total Assets |
408 M | 457 M | 449 M | 474 M | 507 M | 576 M | 676 M | 335 M | 520 M | 470 M | 455 M | 491 M | 458 M | 461 M | 435 M | - | - |
Cash and Cash Equivalents |
85.2 M | 36.5 M | 60.2 M | 55 M | - | 113 M | 154 M | 191 M | 256 M | 248 M | 240 M | 312 M | 290 M | 257 M | 268 M | 214 M | 311 M |
Book Value |
32 M | 79.6 M | 113 M | 144 M | 191 M | 248 M | 351 M | 315 M | 392 M | 394 M | 377 M | 412 M | 376 M | 366 M | 364 M | - | - |
Total Shareholders Equity |
32 M | 79.7 M | 113 M | 143 M | 188 M | 199 M | 300 M | 276 M | 365 M | 394 M | 377 M | 412 M | 376 M | 366 M | 364 M | 345 M | 380 M |
All numbers in CNY currency
Quarterly Balance Sheet ATA Creativity Global
| 2025-Q4 | 2025-Q3 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q1 | 2009-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
15 M | - | - | - | - | - | - | - | 23.4 M | - | - | - | 24 M | - | - | - | 12.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
376 M | 404 M | 377 M | 336 M | 331 M | - | - | - | 316 M | - | - | - | 328 M | - | - | - | 326 M | - | - | - | 19.7 M | - | - | - | 167 M | - | - | 127 M | - | - | - | 76.2 M | - | - | - | 77.9 M | - | - | - | 79.3 M | - | - | - | 82.3 M | - | - | - | 94.3 M | - | - | - | 71.4 M | - | - |
Deferred Revenue |
272 M | 292 M | 280 M | 252 M | 220 M | - | - | - | 202 M | - | - | - | 199 M | - | - | - | 172 M | - | - | - | 1.63 M | - | - | - | 10.8 M | - | - | 10.2 M | - | - | - | 16.6 M | - | - | - | 21.7 M | - | - | - | 8.38 M | - | - | - | 7.38 M | - | - | - | 27.3 M | - | - | - | 19.1 M | - | - |
Retained Earnings |
-476 M | -450 M | -428 M | -392 M | -358 M | - | - | - | -310 M | - | - | - | -299 M | - | - | - | -200 M | - | - | - | -71.9 M | - | - | - | 25.9 M | - | - | 38 M | - | - | - | 47.7 M | - | - | - | 21.7 M | - | - | - | -1.37 M | - | - | - | -28.6 M | - | - | - | -51.9 M | - | - | - | -108 M | - | - |
Total Assets |
408 M | 463 M | 457 M | 449 M | 474 M | - | - | - | 507 M | - | - | - | 576 M | - | - | - | 676 M | - | - | - | 335 M | - | - | - | 568 M | - | - | 520 M | - | - | - | 470 M | - | - | - | 455 M | - | - | - | 491 M | - | - | - | 458 M | - | - | - | 461 M | - | - | - | 435 M | - | - |
Cash and Cash Equivalents |
- | - | - | - | - | - | - | - | 71.3 M | - | - | - | 113 M | - | - | - | 154 M | - | - | - | 191 M | - | - | - | 53.5 M | - | - | 222 M | - | - | - | 248 M | - | - | - | 240 M | - | - | - | 312 M | - | - | - | 290 M | - | - | - | 257 M | - | - | - | 268 M | 214 M | 311 M |
Book Value |
32 M | 58.8 M | 79.6 M | 113 M | 144 M | - | - | - | 191 M | - | - | - | 248 M | - | - | - | 351 M | - | - | - | 315 M | - | - | - | 401 M | - | - | 392 M | - | - | - | 394 M | - | - | - | 377 M | - | - | - | 412 M | - | - | - | 376 M | - | - | - | 366 M | - | - | - | 364 M | - | - |
Total Shareholders Equity |
32 M | 58.9 M | 79.7 M | 113 M | 144 M | - | - | - | 188 M | - | - | - | 199 M | - | - | - | 300 M | - | - | - | 276 M | - | - | - | 365 M | - | - | 391 M | - | - | - | 394 M | - | - | - | 377 M | - | - | - | 412 M | - | - | - | 376 M | - | - | - | 366 M | - | - | - | 364 M | 345 M | 380 M |
All numbers in CNY currency
Balance Sheet is a fundamental financial report of ATA Creativity Global, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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