Intac (NASDAQ:INTN)
Historical Stock Chart
From Jan 2020 to Jan 2025
INTAC Goes to School in China
HONG KONG, April 28 /PRNewswire-FirstCall/ -- INTAC International, Inc.
(Nasdaq: INTN; FSE: WKN 805768) a leading provider of a full range of
integrated career development services to Chinese students as well as
management software products for educational institutions in China, today
announced that it has launched a number of new value-added services to expand
and strengthen the market coverage of INTAC's newly acquired subsidiary,
Beijing Huana Xinlong Information and Technology Development Co., Ltd. (Huana
Xinlong). Huana Xinlong's software for educational institution administration,
which has been designated as the standard of the China School Administration
System by the government's Education Management Information Center, is
currently installed in approximately 5,500 elementary, middle and high schools
in China. INTAC has been furthering its position by developing and offering
incremental value-added services and products to better serve the captive
customer base of teachers, parents and pupils. Two of the newest services,
FSLCS (Family-School Link Communication System) and PCLCS (Parent- Children
Link Communication System), launched off INTAC's installed system platform,
enable parents, teachers and pupils to enhance communications and to improve
the quality of education services to pupils.
INTAC is pursuing an aggressive expansion plan to capture an increased share of
the target market. China has approximately 650,000 elementary, middle and high
schools and INTAC expects to have more than 100,000 systems installed in these
schools by the end of 2007. "Huana Xinlong's unique presence in the
elementary, middle and high school market is achieved through the offering of
standardized automated school administrative infrastructure. With a huge
accessible market, over 650,000 elementary, middle and high schools with more
than 200 million students enrolled, the company has an enormous space to offer
other value-added services and products," commented Mr. Wei Zhou, President and
CEO of the company.
The business model captures two streams of growing revenues. On one hand, the
installed system offers a growing and steady revenue base. On the other hand,
INTAC's unique position in schools' infrastructure provides the opportunity to
reap another rapidly growing revenue stream through the development and
offering of incremental value-added services and products such as PCLCS and
FSLCS.
"We expect to sign up 500,000 users for the PCLCS service and see 20,000
average monthly users for the FSLCS service by the end of 2005. When fully
adopted, they are expected to become core revenue contributors to INTAC,"
commented Mr. Zhou. "The offering of the services is consistent with the
company's strategy of building captive communities in the education market and
launching value-added services and products. The acquisition of Huana Xinlong
enables us to have a unique access to the elementary, middle and high school
communities and to offer teachers, parents and students a wide range of value-
added services and products."
Furthermore, Huana Xinlong was selected and mandated by China's Ministry of
Education for the pilot installation and implementation of the DSD
(Demonstration School Districts) program designated by the government in 12
provinces and municipalities. At the end of 2004, INTAC's Huana Xinlong's
system achieved coverage of 22 DSDs with installations in more than 5,500
elementary, middle and high schools.
About INTAC International, Inc.
INTAC International, Inc. is a provider of a full range of integrated
educational and career development services as well as management software
products for educational institutions in China. In a strong cooperation
(partnership) with China's Ministry of Education, INTAC tailors its online and
offline services and products towards a target group of 300 million Chinese
students. The services are delivered through the Company's websites,
http://www.phrbank.com/ and http://www.joyba.com/ , as well as through a range
of mobile value-added services, its print formats and its local Career Service
Centers across China.
Forward-Looking Statements
This press release contains certain "forward-looking statements." Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, performance or achievements
expressed or implied by such forward-looking statements to differ materially
from those projected or implied. Factors that could cause or contribute to
such differences include, among other things: changes in general business
conditions; the impact of competition in our industry, especially in the Asia-
Pacific Rim; the fact that we are an early stage company with an unproven
business model; our need for additional working capital, particularly to the
extent that we are able to locate a suitable business opportunity; the added
expense structure assumed by us as a U.S. public company; political and
economic events and conditions in jurisdictions in which we operate; The
People's Republic of China's, or the PRC's Internet laws and regulations that
are unclear and will likely change in the near future; restrictions on foreign
investment in the PRC Internet sector that are imposed by the PRC government;
the PRC government that may prevent us from distributing; regulation and
censorship of information distribution in China which may adversely affect our
business; political and economic policies of the PRC government; the risk of
the loss of the agreements, or the exclusivity terms, with the Education
Management Information Center; the high cost of Internet access that may limit
the growth of the Internet in China and impede our growth; advertising and e-
commerce customers that have only limited experience using the Internet for
advertising or commerce purposes; the acceptance of the Internet as a commerce
platform in China which depends on the resolution of problems relating to
fulfillment and electronic payment; concerns about security of e-commerce
transactions and confidentiality of information on the Internet that may
increase our costs, reduce the use of our Internet portal and impede our
growth; our network operations that may be vulnerable to hacking, viruses and
other disruptions, which may make our products and services less attractive and
reliable; changes in interest rates, foreign currency fluctuations and capital
market conditions; and other factors including those detailed under the heading
"Business Risk Factors" and elsewhere in the Company's annual report on Form
10-K for the year ended December 31, 2004 as filed with the Securities and
Exchange Commission. We disclaim any intention or obligation to revise any
forward-looking statements whether as a result of new information, future
events or otherwise. INTAC undertakes no obligation to update any
forward-looking statements made in this media release.
Contact: J. David Darnell, Senior Vice President and Chief Financial Officer,
469-916-9891, for further information.
Internet: http://www.intac-international.com/
DATASOURCE: INTAC International, Inc.
CONTACT: J. David Darnell, Senior Vice President and Chief Financial
Officer of INTAC International, Inc., +1-469-916-9891
Web site: http://www.intac-international.com/
http://www.phrbank.com/
http://www.joyba.com/