BEIJING, June 4 /Xinhua-PRNewswire-FirstCall/ -- ATA Inc. ("ATA" or the "Company") (Nasdaq: ATAI), the leading provider of computer-based testing and testing-related services in China, today announced that it has completed the China Banking Association Qualification Exam for the first half of 2008. Exams for three exam titles, including fundamental knowledge, risk management and personal financial management, were simultaneously held in 81 cities in China over the weekend of May 31, 2008 to June 1, 2008. Approximately 473,000 individuals registered for the exams and 450,000 individuals took the exams, a significant increase compared to 210,000 test takers for same exams offered in July 2007. In order to meet the increased tests demand of its clients and testing candidates, ATA utilized 406 test centers across more than 20 provinces in China. A total of 3,268 test rooms from these 406 test centers were utilized nationwide. The number of simultaneous test takers, test centers, and test rooms all reached the highest level in ATA’s history.
"We are pleased to have reached this important milestone in the development of our business," commented Mr. Kevin Ma, Chairman and Chief Executive Officer of ATA. "Despite the tragic earthquake that has happened in Wenchuan, ATA’s business continues to be resilient and achieved new milestones. With minimum impact from the earthquake and upcoming Beijing Olympics, we would like to reiterate our previously announced net revenue guidance of RMB66 million to RMB69 million for the quarter ended June 30, 2008. We’re seeing success today from years of investments in our computer-based testing technology platform, and we look forward to our continued profitable growth as we leverage our technology and network to further penetrate the rapidly expanding Chinese licensure and certification test market."
The China Banking Association Qualification Examination is considered important by the China Banking Regulatory Commission and all the banks in China. During the examination, Liao Min, the deputy director of the China Banking Regulatory Commission, and heads of the human resources departments and training departments of major banks in Beijing visited test centers in Beijing and inspected the national-wide test centers during the exam time through real-time remote monitoring systems.
Sichuan Earthquake
Due to the "5.12 Wenchuan Earthquake" in Sichuan province of China, The China Banking Association quickly launched a contingency plan to support Sichuan People’s earthquake relief efforts and safeguard the interests of test candidates in disaster areas. Approximately 22,000 test candidates that had registered and paid a non-refundable exam fee were affected in disaster-stricken areas, which included five testing cities: Chengdu City of Sichuan Province, Nanchong City, Mianyang City and Tianshui City of Gansu Province, and Baoji City of Shaanxi Province. Although the scheduled test has lapsed and been completed, the China Banking Association and ATA Inc. will organize a separate free test for the affected candidates when conditions permit.
About China Banking Association Qualification Examination
Launched in 2006, China Banking Qualification Examination has achieved rapid development with enthusiastic participation of financial institutions such as the banking, securities, and insurance industries, universities, and other related communities. In order to ensure smooth implementation of the nationwide qualification examinations, the China Banking Association coordinated with ATA Inc., the largest professional testing service provider with the world’s leading testing technology, to provide test candidates full-line online registration, payment, and pre-test practices services, significantly facilitating test candidates’ registration and test preparation.
About ATA Inc.:
ATA is the leading provider of computer-based testing services in China. The Company offers comprehensive services for the creation and delivery of computer-based tests based on its proprietary testing technologies and test delivery platform. The Company’s computer-based testing services are used for professional licensure and certification tests in various industries, including information technology, or IT, services, banking, teaching, securities, insurance and accounting. ATA’s test center network comprised 1,854 authorized test centers located throughout China as of March 31, 2008, which the Company believes is the largest test center network of any commercial testing service provider in China. Combined with its test delivery technologies, this network allows ATA’s clients to administer large-scale nationwide tests in a consistent, secure and cost-effective manner. ATA has delivered over 24 million tests since it commenced operations in 1999, and in July 2007 delivered tests to more than 200,000 test takers in a single day for the China Banking Association, through its test delivery platform. For further information, please visit: http://www.ata.net.cn .
Safe-Harbor Statement
This announcement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "look forward to," "outlook," "forecast," "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate" and similar terminology. Among the factors that could cause the Company’s actual financial and operating results to differ from what the Company currently anticipate may include the Company’s ability to meet challenges associated with its rapid expansion, the Company’s ability to meet the expectations of current and future clients, the Company’s ability to implement and maintain effective internal controls over financial reporting, the health of the PRC economy, and uncertainties with respect to the PRC legal and regulatory environments. For additional information on these and other important factors that could adversely affect the Company’s business, financial condition, results of operations and future prospects, please refer to a more detailed discussion of the Company’s risk factors in the Company’s filings with the Securities and Exchange Commission.
For more information, please contact:
ATA Inc.
Carl Yeung, CFO
Tel: +86-10-6518-1122 x5107
Email: ir@ata.net.cn
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com