CLPS Incorporation Announces Strategic Cooperation with Yusys Technologies
CLPS Incorporation (Nasdaq: CLPS) announced a strategic cooperation agreement with Beijing Yusys Technologies Co., Ltd. on December 22, 2021. The collaboration aims at leveraging fintech initiatives, including product promotion and IT personnel training. JAJI, a majority-owned subsidiary, will integrate its training programs to support Yusys Technologies' business model. Both companies are open to capital partnerships and joint ventures, intending to expand their presence in the global fintech market. This partnership reflects JAJI's intention to enter the capital market with its upcoming IPO.
- Strategic cooperation with Beijing Yusys Technologies enhances CLPS's competitive edge in the fintech market.
- Potential for capital partnerships and joint ventures to expand business opportunities.
- JAJI's upcoming IPO indicates growth and expansion into the capital market.
- None.
HONG KONG, Dec. 22, 2021 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), announced today that its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd. ("JAJI"), has entered into a strategic cooperation agreement (the "Agreement") with Beijing Yusys Technologies Co., Ltd. ("Yusys Technologies", 300674.SZ). Both parties will jointly conduct fintech-based initiatives including product promotion, project delivery and IT personnel training.
Headquartered in Beijing, Yusys Technologies is an A-share company listed on the Shenzhen Stock Exchange. It provides fintech services and products such as IT consulting and planning, software products, solutions and implementation, operation, maintenance and testing, system integration and business operation for financial institutions.
Under the Agreement, both parties intend to capitalize each other's competitive advantage in fintech to optimize and eventually achieve the cooperation's goals. JAJI's capability in providing comprehensive training programs tailored to IT talents will be integrated to complement Yusys Technologies' business model. Leveraging the high-quality overseas resources of its parent company, CLPS, JAJI also plans to provide business development and marketing support to Yusys Technologies' fintech products and services in overseas market. Meanwhile, Yusys Technologies can make use of and promote JAJI's well-established IT consulting services subject to the demand for domestic projects. Both parties also agreed to remain open to capital partnership opportunity, including but not limited to the establishment of domestic and foreign joint ventures that will pave the way for business expansion.
Mr. Oscar Yuan, General Manager of JAJI, said, "Yusys Technologies' credit management system, asset management platform and data products maintain high market share in the domestic fintech industry. By exploring and sharing information on each other's products and services, this cooperation will mutually benefit both in complementing each other's advantages to further expand the global fintech services market and business."
Mr. Raymond Lin, Chief Executive Officer of CLPS, said, "We are very honored to enter into a strategic cooperation with Yusys Technologies. Interactions with leading companies in the industry not only help us to enhance our competitiveness in the fintech services market, but also give us confidence in the future development of JAJI on its way to entering the capital market."
Mr. Zhongcheng Ouyang, Chief Executive Officer of Yusys Technologies, said, "In the recent years, Yusys Technologies is committed to delivering top-notch financial information software products conformed to overseas market. We are confident that our cooperation with CLPS, through JAJI's vast international sales network and localization delivery team, we will be able to diverge and expand our overseas market footprint. Meanwhile, JAJI has previously announced its IPO plan on the National Equities Exchange and Quotations and the Beijing Stock Exchange, which reflects its upward momentum for future development. Lastly, through the Belt and Road Initiative, our strategic cooperation with JAJI will enable both parties to export China's financial digital products to global market."
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
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