CLPS Incorporation - CLPS STOCK NEWS

CLPS Incorporation (Nasdaq: CLPS) has appointed Mr. Srustijeet Mishra as the new CEO of CLPS Technology Inc. in California, responsible for U.S. operations. Mr. Mishra, an IT veteran with over 20 years of experience, previously founded Ridik and led CLPS SEA. Under his leadership, CLPS California, established in January 2020, has shown significant growth, including an 85% team expansion and revenue generation since fiscal year 2021. The company plans to leverage its established relationships in Asia to build a strong client base in the U.S., aiming for further growth in North America.

CLPS Incorporation (Nasdaq: CLPS) announced the development of a new loan management system aimed at small and medium-sized banks in Hong Kong and Southeast Asia, with a launch expected in 2023. The system integrates advanced technologies such as blockchain and facial recognition to enhance the loan application process, targeting a market demand identified through preliminary research. This initiative aims to help traditional banks improve efficiency and reduce operational costs while adapting to digital transformation.

CLPS Incorporation (Nasdaq: CLPS) announced a strategic Collaboration Agreement with Educare Global Academy in Singapore on June 21, 2022. This partnership aims to enhance IT talent in the banking and fintech sectors by offering a Post Graduate Diploma focused on new banking technologies. The program includes internship and job placement support for graduates. CLPS anticipates that this collaboration will drive revenue growth by addressing the region's demand for skilled professionals in these industries.

CLPS Incorporation (Nasdaq: CLPS) announced the launch of a scenario-based digital currency application solution aimed at aiding financial institutions in enhancing their digital economy capabilities. This initiative is a response to the growing demand for digital currency ecosystems, particularly in China, where the digital RMB is gaining momentum. The solution integrates various financial services, enabling institutions to adopt digital currency more rapidly. CLPS plans to customize the solution for clients, targeting increased market penetration and customer acquisition.

CLPS Incorporation (Nasdaq: CLPS) launched its new credit card system product, CAKU, aimed at accelerating digital transformation in banking. CAKU's open-source architecture provides rapid implementation and flexibility, catering to banks' evolving needs. Key features include a secure distributed architecture, over 1,000 standardized components, and the capacity to process over 200,000 transactions per second. Targeting small and medium-sized financial institutions in Southeast Asia, CAKU is expected to enhance CLPS's customized IT solutions and gross margins.

CLPS Incorporation (Nasdaq: CLPS) reported a strong performance for the first half of fiscal 2022, with revenues increasing by 30.2% to $75.9 million, driven by a 26.2% rise in IT consulting services to $72.0 million. Net income rose 31.2% to $6.5 million, with non-GAAP net income increasing 37.4% to $8.7 million. The company projects 30%-35% sales growth and 32%-37% non-GAAP net income growth for the full fiscal year 2022, underscoring confidence in ongoing strategic initiatives.

CLPS Incorporation (Nasdaq: CLPS) will release its first half fiscal 2022 financial results on March 4, 2022, before the market opens. A conference call is scheduled for 8:30 am ET to discuss these results, business highlights, and the company's outlook. The call can be accessed via various phone numbers, with a replay available until March 18, 2022. As a leading IT consulting service provider, CLPS focuses on the banking and financial sectors, operating globally with numerous centers to support its clients.

CLPS Incorporation (Nasdaq: CLPS) shared a letter to shareholders highlighting significant achievements in 2021 and optimism for 2022. The company plans to enhance its product offerings through joint ventures and increased investment, particularly in loan trading software and blockchain solutions. Financially, CLPS reported a 41% increase in operating income to $126 million, and a net income of $6.8 million, up 132% year-over-year. The company anticipates revenue growth of 30%-35% in 2022. Additionally, it aims to expand its market presence in Southeast Asia and the U.S.

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.