HONG KONG, Oct. 28, 2021 /PRNewswire/ -- CLPS Incorporation
(the "Company" or "CLPS") (Nasdaq: CLPS), today announced that,
through its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd., it has entered into a
framework agreement (the "Agreement") with an emerging high-end
intelligent pure electric car brand in China (the "Client") to provide end-to-end IT
consulting services for its newly launched electric vehicles
(EV).
The Client is a new player in the electric vehicle market
founded by a leading Chinese state-owned automotive company. It is
committed to developing high-end intelligent electric sedan and
SUV, of which its flagship model is scheduled for mass-production
by the end of 2021. In this cooperation, CLPS will provide a full
range of IT consulting services involving technology-powered
components and applications for the Client's first and succeeding
EVs, including but not limited to electric power system,
smart-driving system, intelligent operating system and car owner
community operation, among others. In addition, both parties have
agreed to jointly promote revolutionized driving experience in the
pinnacle of intelligent era.
Mr. Henry Li, Chief Operating
Officer of CLPS, said, "Automotive is one of our four key business
areas which has shown significant improvement in the recent years
both in business development and financial perspectives. This
cooperation is a breakthrough for us in the domestic automotive
market, a reflection of our success in pursuing opportunities in
the intelligent vehicle market. Moreover, our cooperation with the
Client will enable further integration of our core services into
the automotive intelligent industry's R&D and manufacturing, as
well as to open more doors for innovative applications in the
aforementioned sector."
Mr. Raymond Lin, Chief Executive
Officer of CLPS, commented, "Our cooperation with the Client will
serve as the main driver of our future growth in automotive area.
We adhere to our dual-engine growth strategy through continued
market penetration to offer IT consulting services across sectors
such as in automotive, while constantly innovating our IT solutions
built up with cutting-edge technologies. Likewise, we will leverage
our global footprint particularly in Asia market to explore such opportunity."
For the fiscal year ended June 30,
2021, CLPS' revenue from automotive area increased by
132.0%, from $3.6 million to
$8.5 million in the prior year
period. It accounted for 6.7% of the total revenue compared to 4.1%
over the previous fiscal year.
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 19 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, and Hainan. The remaining eight global centers are
located in Hong Kong SAR, USA,
Japan, Singapore, Malaysia, Australia, India, and the
Philippines. For further information regarding the Company,
please visit: https://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