ATA Announces Engagement as Service Provider for Computer-Based National Tax Adviser Occupational Qualification Exam, Discontinuation of Testing Services for the Securities Association of China
BEIJING, CHINA -- (Marketwired) -- 01/11/16 -- ATA Inc. ("ATA" or the "Company") (NASDAQ: ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced that the China Certified Tax Agents Association has engaged ATA to be its service provider for the computer-based National Tax Adviser Occupational Qualification Exam.
The National Tax Adviser Occupational Qualification Exam, previously known as the National Chartered Tax Adviser Qualification Exam, has been administered for 20 years in China and has become increasingly regarded as a prominent national exam in China. It is typically offered once a year. This exam is transitioning from a traditional paper-based format to ATA's technology-based platform, and ATA expects to deliver the first computer-based version of this exam in February 2016.
ATA also announced that during the recently completed bidding process, it was not selected to deliver computer-based exams for the Securities Association of China ("SAC") in calendar years 2016-2017. SAC has historically been one of ATA's top clients. ATA remains committed to growing its core testing services businesses and is confident in the superiority of its offerings and ability to attract new clients in various industries in the future.
Mr. Kevin Ma, ATA's Chairman and Chief Executive Officer, stated, "We are pleased to have had sustained a fruitful and gratifying relationship with the SAC over the years and while we are, of course, disappointed in this outcome, we felt it was important for ATA to maintain the model that has sustained its overall business since its founding in 1999. We recently closed out a strong FY 2016 third quarter and do not expect the loss of the SAC exam to impact our Fiscal Year 2016 results. We are optimistic about our prospects for the future and look forward to taking advantage of the positive momentum generated by ATA's selection as the service provider for the National Tax Adviser Occupational Qualification Exam. ATA has spent years building relationships with many reputable organizations in China, and we are working in earnest to continue building upon this foundation."
This press release contains "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. Forward-looking statements are not historical facts, but instead are predictions about future events. Future events are inherently uncertain, and our forward-looking statements may turn out to be incorrect. The forward-looking statements in this press release speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by law.
About ATA Inc.
ATA is a leading provider of advanced testing technologies in China. ATA offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA's testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, securities, insurance, and accounting. As of September 30, 2015, ATA's test center network comprised 3,170 authorized test centers located throughout China. ATA believes that it has the largest test center network of any commercial testing service provider in China.
ATA has delivered more than 70.3 million billable tests since ATA started operations in 1999.For more information, please visit ATA's website at www.atai.net.cn.
For more information on our company, please contact the following individuals:
At the Company
+86 10 6518 1122 x5500
The Equity Group Inc.
Carolyne Y. Sohn
+86 10 6587 6435
Senior Vice President
Source: ATA Inc.
Released January 11, 2016