CLPS Incorporation Provides Update on Partnership Agreement with an Established China-Listed Financial IT Company
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.
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