ATA Completes China Banking Association Qualification Exam for the First Half of 2008
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
SOURCE ATA Inc.
Released June 4, 2008