HONG KONG, April 15, 2021 /PRNewswire/ -- CLPS Incorporation
(Nasdaq: CLPS) ("CLPS" or "the Company"), today provided an update
on the latest implementation of its global expansion strategy. Its
expansion pipeline includes the establishment of a subsidiary in
the Philippines, boosting the
business in Southeast Asia, and
pursuing overseas merger and acquisition.
For the six months ended December 31,
2020, CLPS reported that its revenue generated outside of
Mainland China increased by 53.9% to $6.6
million compared to the prior year period. This only shows
the Company's aggressive efforts in advancing its business presence
in the overseas market with focus on Asia
Pacific, particularly in the Southeast Asia region.
The fintech industry in Southeast
Asia, such as in Singapore,
has been rapidly growing. Most banks are heavily invested in
digital transformation, including the migration of traditional
services to mobile platform. Mr. Srustijeet Mishra, head of CLPS
Southeast Asia Region ("CLPS SEA"), said, "Despite the COVID-19
pandemic and economic slowdown in Asia, CLPS SEA's business has continued to be
operational. We have been working alongside with our clients in the
banking and fintech industries for the IT system implementation and
business process optimization. The service coverage includes
customized development, testing and support of IT systems in core
banking, wealth management, credit card, online lending, and online
payment. We also implemented projects for the development and
testing of mobile and web application, in addition to IT consulting
services."
The Company's strategic business locations have provided a solid
foundation to lay out its competitive advantage in the IT services
industry. "Our strong and unified teams of IT professionals located
in China and in India enable us to deliver high quality and
industry standard IT services. I believe that this setup is a clear
advantage that differentiates CLPS from other IT services players
with only local operations in Southeast
Asia," Mr. Mishra added.
Mr. Henry Li, Chief Operating Officer of CLPS,
said, "The effectiveness of our global expansion strategy has
further pushed us to pursue the overseas market. In fact, we
recently started to provide Internet of Things (IoT) services for
the development of a vehicle's intelligent monitoring system in
Japan. On top of that, we also
continue to expand our global network through mergers and
acquisitions in China,
Southeast Asia, and in the U.S.
Our M&A efforts are focused on financially sound companies with
business model similar or complementary to CLPS, which we expect to
contribute in our business growth going forward."
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, Southeast Asia and Hong
Kong SAR, and their PRC-based IT centers. The Company maintains 20
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, Xi'an,
Chengdu, Guangzhou, Shenzhen, Hangzhou, Suzhou,
and Hainan. 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.
Forward-Looking Statements
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.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS