HONG KONG, July 6, 2020 /PRNewswire/ -- CLPS Incorporation
(Nasdaq: CLPS) ("CLPS" or "the Company"), today provided an update
on the partnership agreement with a Chinese company listed on one
of the domestic Chinese stock exchanges ("Partner") after the
signing of the Memorandum of Cooperation ("Memorandum"), originally
announced on June 12, 2020. CLPS and
the Partner have recently held several meetings to further discuss
the respective value proposition and to recognize areas of
synergies between both parties.
The Partner is an established financial IT company
in China and one of China's leading financial
asset risk management solution providers. As such, the Partner has
maintained high market share in its sector for many years.
To achieve a successful partnership, a working group was formed
composed of executives and top-level management from both parties.
Members from CLPS include Mr. Raymond
Lin, Chief Executive Officer, Mr. Henry Li, Chief Operating Officer, Mr.
Matthew Tang, Chief Executive
Officer of CLPS US & HK, and key business development heads.
Representatives from the Partner include its Chief Executive
Officer, Director of Finance, and business development heads.
The working group discussed the business expertise of both
parties to lay a solid foundation and to facilitate streamlined
synergies. The Partner detailed its business and technological
advantages of its flexible and scalable credit and risk management
system products that have maintained significant market share in
its sector for many years. CLPS highlighted its competencies in
financial IT services, overseas business development, credit card
services, technology innovation research efforts, and financial IT
talent training programs, among others.
Mr. Raymond Lin, Chief Executive
Officer of CLPS, said, "Under the Memorandum, we are optimistic
both parties can achieve win-win results based on mutual knowledge
and promotion of products and services. Our Partner's products and
solutions will enhance CLPS's competitiveness and promote our
overseas business development, as well as introduce more business
opportunities for CLPS in the financial IT field though their
domestic bank customer channels. The partnership provides us with
an opportunity to further develop the global financial IT service
market with improved performance."
About CLPS Incorporation
Headquartered in Hong Kong,
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
service sectors. The Company serves as an IT solutions provider to
a growing network of clients in the global financial service
industry, including large financial institutions in the US,
Europe, Australia, and Hong Kong SAR, and their
PRC-based IT centers. The Company maintains 18 delivery and/or
research & development centers to serve different customers in
various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Suzhou. The remaining eight
global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the
Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on
Facebook, LinkedIn, and Twitter.
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance. Known and unknown risks, uncertainties and other
factors, which may be beyond the Company's control, may cause the
actual results and performance of the Company to be materially
different from such forward-looking statements. All such statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties related to the Company's expectations of the
Company's future growth, performance and results of operations, the
Company's ability to capitalize on various commercial, M&A,
technology and other related opportunities and initiatives, as well
as the risks and uncertainties described in the Company's most
recently filed SEC reports and filings. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.