CLPS Incorporation Announces Operational Updates for First Quarter Fiscal 2019
During the first quarter of the new fiscal year (July-
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 extendCLPS'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 toSingapore to supportCisco's global business. CLPS and a Japanese IT service company, WeTec, signed a cooperation agreement for IT talent projects inJapan . This is the first time thatCLPS has enteredJapan to collaborate with a firm. This cooperation will lay a strong foundation forCLPS 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 inAustralia , which will allowCLPS 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 theBank 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 atRMB 650,000 .
Industry-University Cooperation & Research and Development
CLPS is currently working with the Innovation Laboratory Center of theShanghai 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 theH.C. Wainwright 20th AnnualGlobal Investment Conference inNew York . - In
September 2018 ,CLPS attended theShanghai Industry-University Association meeting inChina . The Company attended as an association expert to judge the progress of industry-university cooperation.CLPS andShanda University's CLPS University won first place in the preliminary round. - In
September 2018 ,CLPS attended the 10thCongress of theShanghai Association for Science and Technology inShanghai, China . Association leaders shared their thoughts on industry development.
About CLPS Incorporation
Headquartered in
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
Contact:
CLPS Incorporation
Ms.
Chief Financial Officer
Phone: +86-158-0198-4357
Email: ir@clpsglobal.com
Rose Zu
Phone: +1-646-405-4868
Email: ir@clpsglobal.com
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