CLPS Incorporation Establishes Talent Training Program in Hong Kong in Cooperation with THEi, a Publicly Funded Educational Institution

Rhea-AI Summary

On August 26, 2020, CLPS Incorporation (Nasdaq: CLPS) announced a memorandum of understanding with the Technological and Higher Education Institute of Hong Kong (THEi) to enhance an IT degree program. This initiative focuses on practical training and internships, aiming to prepare students for careers in the IT sector. The collaboration is expected to cultivate local talent and support Hong Kong's digital transformation, positioning CLPS as a leader in IT consulting services. CEO Matthew Tang emphasized the importance of developing a skilled workforce to meet industry demands.

Positive

• Collaboration with THEi to enhance IT degree program emphasizes hands-on training.
• Internship opportunities and guaranteed employment for students upon graduation.
• Positioning CLPS as a leader in talent development in Hong Kong's IT sector.
• Expected revenue growth from nurturing local IT talent.

Negative

• None.

HONG KONG, Aug. 26, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that its Hong Kong subsidiary has signed a memorandum of understanding ("MOU") with the Technological and Higher Education Institute of Hong Kong ("THEi") to boost THEi's degree program in information technology ("IT degree program").

Established in 2012, THEi is a member of the Vocational Training Council of Hong Kong which offers quality, innovative, and vocation-oriented degree programs. It aims to improve, promote, and develop its programs to contribute to the sustainable development goals of Hong Kong.

Through the MOU, CLPS and THEi have agreed to collaborate in conceptualizing and developing a comprehensive IT degree program. Instead of a conventional, theory-based teaching strategy, the IT degree program will include projects and applied research that place more emphasis on hands-on training. The MOU also will offer students internship opportunities and, eventually, guaranteed employment upon graduation. The IT degree program aims to help THEi's students develop work-ready technical skills in IT industry, attract more young adults for enrollment in the IT-related educational program, and ultimately nurture homegrown IT talent.

Mr. Matthew Tang, Chief Executive Officer of CLPS US & HK, said, "I believe the IT industry continues to be at the forefront in developing a smart city, which Hong Kong consistently pursues. In addition, the global digital transformation and application of modern technology, such as artificial intelligence (AI), blockchain, big data, and Internet of Things (IoT), reflect upon the advancements that have drastically altered today's business landscape. Hong Kong will eventually need to work harder to maintain a sustainable pool of new recruits and young talent in IT. Through our collaboration with THEi, we are well-positioned to develop IT talent in Hong Kong's young generations. In the long run, I aspire for CLPS to join the ranks as a cornerstone in educating and mentoring young talents in pursuit of a career in the IT industry."

Mr. Raymond Lin, Chief Executive Officer of CLPS, said, "At CLPS, our IT talent plays a pivotal role in our success. Our collaboration with THEi allows us to attract and discover young talent who hold potential. From a global IT services perspective, this will strengthen CLPS's position as a leading IT consulting and solution services provider in both Hong Kong and other parts of the Asia Pacific region. We are optimistic that this cooperation will translate into a strong revenue source and deliver premium returns for our shareholders." 

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.

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

FAQ

What is the purpose of the MOU signed by CLPS with THEi?

The MOU aims to enhance THEi's IT degree program through hands-on training and internship opportunities for students.

When was the MOU between CLPS and THEi announced?

The MOU was announced on August 26, 2020.

How will the collaboration between CLPS and THEi benefit students?

The collaboration will provide students with practical training, internship opportunities, and guaranteed employment upon graduation.

What industry does CLPS focus on?

CLPS focuses on the information technology consulting sector, particularly for banking, insurance, and financial services.

How does CLPS plan to support Hong Kong's digital transformation?

CLPS plans to develop skilled IT professionals through collaboration with educational institutions like THEi.