SHANGHAI, Oct. 16, 2018 /PRNewswire/ -- CLPS Incorporation
(the "Company" or "CLPS") (Nasdaq: CLPS), a leading information
technology ("IT") consulting and solutions service provider
focusing on the banking, insurance and financial sectors in
China and globally, today
announced operational updates for the first quarter of its 2019
fiscal year.
During the first quarter of the new fiscal year
(July-September 2018), CLPS has
advanced a number of its operations goals and objectives in IT
consulting services, customized IT solution services,
industry-university cooperation, and research and development:
IT Consulting Services
- CLPS signed a global service contract with a leading
international online travel and peripheral services provider to
provide consulting services to its global subsidiaries. This
agreement will further extend CLPS's reach in the global IT
market.
- Building upon its previous relationship with Cisco, a leading
global network solutions provider, CLPS has begun expanding its
service geography to Singapore to
support Cisco's global business.
- CLPS and a Japanese IT service company, WeTec, signed a
cooperation agreement for IT talent projects in Japan. This is the first time that CLPS has
entered Japan to collaborate with
a firm. This cooperation will lay a strong foundation for CLPS to
further develop in the Japanese market.
- CLPS has signed a service agreement with a Fortune Global 500
Chinese state-owned automotive design and manufacturing company to
support its developing artificial intelligence and new energy
vehicle projects.
- CLPS has signed a new service contract with Bux Global, a
financial services company in Australia, which will allow CLPS to further
expand in the Australian market.
- Following the recently completed acquisition of the CLPS
Singapore subsidiary, InfoGain, CLPS has been integrating this
business into its overall corporate services offerings. As compared
with the same period last year, InfoGain's operating income shows
steady and continued growth.
Customized IT Solution Services
- CLPS completed the implementation of its contracted project
with the Bank of Pingdingshan, a domestic commercial bank. CLPS
helped the bank enhance its market competitiveness by establishing
a stable and high-performing IT application system. The contract
was valued at RMB 650,000.
Industry-University Cooperation & Research and
Development
- CLPS is currently working with the Innovation Laboratory Center
of the Shanghai University of
Finance and Economics. CLPS will utilize its blockchain technology
capabilities in designing, developing and constructing the
University's teaching and management platform to further achieve
its objectives.
Meetings & Events
- In August 2018, CLPS presented at
the H.C. Wainwright 20th Annual Global Investment Conference in
New York.
- In September 2018, CLPS attended
the Shanghai Industry-University Association meeting in
China. The Company attended as an
association expert to judge the progress of industry-university
cooperation. CLPS and Shanda University's CLPS University won first
place in the preliminary round.
- In September 2018, CLPS attended
the 10th Congress of the Shanghai Association for Science and
Technology in Shanghai, China.
Association leaders shared their thoughts on industry
development.
About CLPS Incorporation
Headquartered in Shanghai,
China, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is
a global leading information technology ("IT"), consulting and
solutions service provider focusing on the banking, insurance and
financial sectors. The Company serves as an IT solutions provider
to a growing network of clients in the global financial industry,
including large financial institutions in the US, Europe, Australia and Hong
Kong and their PRC-based IT centers. The Company maintains
eleven delivery and/or research & development centers to serve
different customers in various geographic locations. Mainland
China centers are located in
Shanghai, Beijing, Dalian, Tianjin, Chengdu, Guangzhou and Shenzhen. The remaining four global centers
are located in Hong Kong,
Taiwan, Singapore and Australia. For further information regarding
the Company, please visit: http://ir.clpsglobal.com/.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs, including, among other factors, the Company's ability to
complete and successfully integrate various acquisitions into its
business and operations, to decrease costs, to improve margins and
increase profits, and to leverage the target's client base to
expand the Company's market and geographical reach, InfoGain's
ability to sustain its steady growth in future quarters, the
Company's potential inability to successfully manage completed,
proposed or future transactions; the Company's ability to
capitalize on and include InfoGain's performance into its own
financial performance and results; the Company's ability to manage
expenditures relating to research, development, and implementation
of the Company's products and services and risks that such products
may not be developed successfully or approved for commercial use;
infringement of the Company's technology or the assertion that the
Company's technology infringes the rights of other parties;
potential for significant adverse changes in PRC governing
regulations; changes in tax laws and regulations; fluctuations in
exchange rates; concentration of a substantial portion of the
Company's revenues among a few customers; volatility in the market
price of the Company's common stock; the Company's future issuance
of non-equity compensation under its equity incentive plans;
changes in key personnel; changes in currency exchange rates;
growth through acquisitions, including the inability to
commercialize technology acquired through and other factors
referred to in the Company's Annual Report on Form 20-F for the
year ended June 30, 2018 and other
materials filed with the Securities and Exchange Commission.
Investors can identify these forward-looking statements by words or
phrases such as "may," "will," "expect," "anticipate," "aim,"
"estimate," "intend," "plan," "believe," "potential," "continue,"
"is/are likely to" or other similar expressions. The Company
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or changes in
its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results.
Contact:
CLPS Incorporation
Ms. Tian van Acken
Chief Financial Officer
Phone: +86-158-0198-4357
Email: ir@clpsglobal.com
ICR Inc.
Rose Zu
Phone: +1-646-405-4868
Email: ir@clpsglobal.com
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SOURCE CLPS