ATA Creativity Global (AACG) Announces CFO Transition

ATA Creativity Global (Nasdaq: AACG) today announced the appointment of Ruobai Sima as Chief Financial Officer, effective May 12, 2022. Amy Tung has stepped down as CFO for personal reasons but will remain with the Company as an advisor to ensure a smooth transition.

Mr. Sima brings to ACG 17 years of experience in finance and accounting, as well as strategic financial planning and execution, at public and private companies in the financial, automotive and travel industries. Prior to joining ACG, Mr. Sima served as CFO at various automotive services companies from 2016 to 2022, including Beijing Aiyihang Auto Service Group and Beijing Shouqi Zhixing Technology Co., Ltd. From 2015 to 2016, Mr. Sima served as the financial director for Bitauto Holdings, a leading auto Internet company focused on providing Internet information, shopping guide services and Internet marketing solutions in China. From 2008 to 2015, Mr. Sima served as the vice director of the finance department at Toyota Motor Finance (CHINA) Co., LTD, primarily focused in the areas of risk management and corporate finance. Mr. Sima served as a senior auditor at PricewaterhouseCoopers Beijing from 2004 to 2008. Mr. Sima earned a bachelor’s degree in finance from the Capital University of Economics and Business and a master’s degree in finance from the University of International Business and Economics, both in Beijing.

Management CommentaryMr. Kevin Ma, Chairman and CEO of ACG, stated, “We are pleased to welcome Mr. Sima as Chief Financial Officer at ACG. We are confident that his extensive expertise in finance and accounting, having served as CFO at various companies over the years, will be an invaluable addition to our leadership team. I would like to thank Amy on behalf of our management team for her professionalism, expertise, and many contributions over the many years she has devoted to our Company. We wish her all the best and greatly appreciate her continued support during this period of transition.”

Mr. Sima added, “I am thrilled to be joining ACG as CFO. I look forward to furthering the Company’s mission to serve all students interested in creative arts studies and overseas learning opportunities and am excited to be part of its future growth strategy.”

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