December 7, 2022

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CLPS Incorporation Announces Chairman’s Letter to the Firm’s Shareholders

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HONG KONG, Jan. 4, 2021 /PRNewswire/ — CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”), currently unveiled a letter to shareholders from the Chairman of the Company’s Board of Administrators (the “Board”), the whole text of which is offered under. All CLPS shareholders are inspired to go through it.

Expensive Shareholders,

On behalf of the Board, I want you a content and harmless new 12 months!

In 2020, CLPS celebrated its 15th anniversary due to the fact its institution. It was also a hard 12 months that compelled most people today to undertake to new realities. Irrespective of this unprecedented yr, we remained on monitor with our growth approach these kinds of as world organization enlargement, ongoing talent source advancement, prosperous mergers and acquisitions, and technological innovation development which additional enhanced our operational performance.

Allow us look again at the highlights of the Firm’s effectiveness in 2020.

1. Client Base and Earnings Expansion

Irrespective of macroeconomic results during this time period, CLPS has preserved double-digit once-a-year income development and its net revenue attributable to CLPS Incorporation’s shareholders has turned successful. In fiscal 2020 economical success, the earnings elevated by 37.7% to $89.4 million in the similar time period of the past yr. The revenues by geography have been also enhanced. The yr-over-calendar year revenues generated from Singapore, Hong Kong, and Mainland China have increased by 191.8%, 56.6%, and 30.5%, respectively.

The gross financial gain greater by 31.% to $31.1 million, and web income attributable to CLPS Incorporation’s shareholders was $2.9 million, or $.20 essential and diluted earnings per share, compared to internet loss attributable to CLPS Incorporation’s shareholders of $3.3 million, or $.24 standard and diluted losses for every share in the prior yr time period. Non-GAAP web income attributable to CLPS Incorporation’s shareholders amplified by 85.3% to $6.9 million.

In 2020, CLPS obtained much more abroad and domestic clients and undertaking-primarily based contracts from the financial companies and IT industries.

In IT consulting providers, CLPS greater its customer-base in worldwide banking institutions, credit card, have confidence in, futures, payment procedure, world-wide-web companies, e-commerce, sensible logistics, intelligent automobile, and semiconductor, amongst other market. In November 2020, CLPS gained the IT solutions supplier bid for a properly-recognised lender card processing expert services firm in China.

In tailored IT remedy expert services, CLPS actively explored new organization prospects with its present shoppers. It a short while ago signed a deal with a primary Chinese point out-owned automotive organization for huge data-enabled motor vehicle smart manufacturing program challenge.

2. Expertise Offer

As CLPS’s edge amongst other rivals in the IT solutions current market, we have been equipped to build and retain the expertise source chain in get to meet up with the need of our purchasers.

CLPS has been cooperating with the Technological and Greater Education Institute of Hong Kong (“THEi”) to boost its diploma system in data technological innovation. In addition, we recognized the Cooperative Training on Information Know-how Software (“Coop Program”) in partnership with Hong Kong Multimedia Style and design Affiliation (“HKMMDA”), a non-revenue firm in Hong Kong, in which far more than 20% of the initial batch of experienced trainees have been put to regional banks. 

Our achievements below the Talent Creation Software (TCP) and Expertise Improvement Software (TDP) have been and will continue on to be an essential element in fixing through the bottleneck of IT providers industry and expertise source shortage. Our talent applications are among the the critical drivers of the Firm’s small business growth in the global and domestic markets.

3. Investigate and Growth Initiatives

CLPS renamed its analysis centre, the CLPS Research, to CLPS Innovation Lab. It has been committed to the investigation and software of progressive technologies, including distributed application units, cloud computing, micro expert services, open API, robotic course of action automation (RPA), and large information, amid other technologies. CLPS Innovation Lab focuses on continual scientific and technological innovation to present customers with additional in depth and economical IT companies.

In the previous year, we implemented RPA and big knowledge into our inside human means, fiscal, and operational management techniques, which drastically enhanced the Firm’s general operation. In addition, CLPS’s recruitment centre in the Mainland China launched in early 2020 is outfitted with superior systems, this sort of as cloud platforms, major information, and RPA to accelerate the expertise acquisition process, thus decreasing operational charge.

CLPS’s RPA has supported its clients’ digital transformation, together with the thriving distribution into the software situations in the accounting, credit score investigation, procurement, and logistics, amongst other processes for some large point out-owned and pharmaceutical enterprises. As a final result of RPA achievements, we have been given beneficial suggestions from our clients.

4. Streamlined Organizational Construction

CLPS has streamlined its company governance and organizational framework to far better put into practice its global enlargement strategy.

CLPS relocated its worldwide corporate headquarters to Hong Kong, and set up Shanghai and Singapore as its regional headquarters in the Mainland China and Southeast Asia, respectively. We also set up our California subsidiary and expanded the fintech enterprise progress services chances in the Asia-Pacific and the US marketplaces subsequent the global enterprise specifications and products and services.

With a lot more than ten years of experience in the credit rating card company sector, we established up a wholly-owned subsidiary, Qinson Credit score Card Solutions Constrained (“QCC”), to cater to the credit history card service calls for of the financial industry. In one particular-calendar year period of time, QCC has attained its stature in the credit history card marketplace, and it continuously develops extra business enterprise possibility. At present, its customer foundation is composed of properly-recognized international and huge banking companies, lender card associations, and global economical IT firms.

5. Mergers and Acquisitions

CLPS ongoing to progress its mergers and acquisitions initiatives in Mainland China and globally. We just lately obtained the remaining 20% possession stake in Ridik Pte. Ltd. (“Ridik”). As a wholly owned subsidiary, Ridik will enable us to thoroughly combine our business enterprise in the Southeast Asia area and to even further progress our business enlargement in the worldwide current market.

In Mainland China, we invested in Shenzhen Huaqin Robotics and Guangdong Zhichuang Application Technologies to diversify our provider choices in robotics, semiconductor, and other industries. Our expense initiatives will put us in a situation to increase our company overseas and to improved provide our customers heading ahead.

The COVID-19 outbreak has brought important effects to the global economic climate. Nonetheless, it accelerated the digitization and informatization of classic industries. Write-up-pandemic, it is forecasted that greater part of enterprises will pivot to engineering platforms and will undertaking on electronic transformation. In 2021, we assume developing demand for world wide economical IT providers and answers, as properly as for IT skills in chopping-edge technologies area this sort of as artificial intelligence (AI), blockchain, major facts, and cloud programs.

Searching forward to 2021, we are focused to investing for means based mostly on our know-how in fiscal IT expert services and remedies in China and globally, advancing our aggressive benefit, achieving world industry organization chance, and giving economical IT companies to our current and opportunity shoppers. Our streamlined technological and administration improvements will generate the Organization to obtain increased quality advancement and deliver long-phrase value to our shareholders. On behalf of the CLPS spouse and children, I extend my gratitude to our shareholders’ unwavering help and confidence in the Corporation. We hope all of you to remain nutritious and protected in the course of these tough situations.

With sincerity and willpower,

Xiao Feng Yang
Chairman of the Board
CLPS Incorporation

 

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the “Business”) (Nasdaq: CLPS) is a global foremost facts engineering (“IT”), consulting and alternatives services service provider focusing on the banking, insurance plan and fiscal sectors. The Organization serves as an IT alternatives service provider to a escalating community of customers in the global fiscal business, such as significant financial establishments in the US, Europe, Australia, Southeast Asia and Hong Kong, and their PRC-dependent IT centers. The Business maintains 18 shipping and delivery and/or investigation & progress centers to provide distinctive shoppers in many geographic locations.  Mainland China facilities are positioned in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Suzhou. The remaining 8 global facilities are located in Hong Kong SAR, Usa, United kingdom, Japan, Singapore, Malaysia, Australia, and India. For further data relating to the Firm, be sure to pay a visit to: http://ir.clpsglobal.com/, or stick to CLPS on FacebookLinkedIn, and Twitter.

Ahead-Looking Statements

Particular of the statements produced in this push launch are “ahead-seeking statements” in just the which means and protections of Section 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Ahead-wanting statements involve statements with regard to the Firm’s beliefs, programs, goals, goals, anticipations, anticipations, assumptions, estimates, intentions, and potential efficiency, and require regarded and unidentified challenges, uncertainties and other aspects, which may be over and above the Firm’s handle, and which could lead to the true effects, efficiency, cash, possession or achievements of the Organization to be materially various from future benefits, overall performance or achievements expressed or implied by these types of ahead-hunting statements. All these kinds of statements attributable to us are expressly qualified in their entirety by this cautionary detect, such as, without having limitation, those challenges and uncertainties similar to the Firm’s fiscal and operational overall performance in the second half and entire yr of fiscal 2020, its expectations of the Company’s potential performance, its preliminary outlook and direction made available in this presentation, as very well as the pitfalls and uncertainties explained in the Company’s most just lately filed SEC stories and filings. These kinds of experiences are offered on request from the Business, or from the Securities and Exchange Fee, which includes as a result of the SEC’s Net web page at http://www.sec.gov. We have no obligation and do not undertake to update, revise or suitable any of the forward-looking statements following the date hereof, or just after the respective dates on which any these kinds of statements in any other case are built.

Contact: 

CLPS Incorporation
Rhon Galicha
Trader Relations Office 
Mobile phone: +86-182-2192-5378
E-mail: [email protected]

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Source CLPS

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