Schedule 13D Filing for ATA Creativity Global

Empire Fortune Management Ltd, wholly owned by XUE Fenglan, has acquired 8,559,434 common shares of ATA Creativity Global, representing 11.47% of the class of securities. This acquisition, valued at $8,645,028.34, was part of a registered direct offering where Empire Fortune Management Ltd subscribed to 8,559,434 common shares at $0.4 per share. The transaction, which occurred on November 17, 2025, was funded through bank sources amounting to $3,423,773.6. The purpose of this acquisition is for medium to long-term investment, subject to market conditions, volatility, and liquidity requirements. The filing indicates no prior ownership, with Empire Fortune Management Ltd now holding sole voting and dispositive power over these shares. The filing date was March 27, 2026.