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About CLPS Incorporation
CLPS Incorporation (Nasdaq: CLPS) is a globally recognized provider of information technology (IT) consulting and solutions, headquartered in Hong Kong. Founded in 2005, the company specializes in delivering tailored IT services and innovative solutions to a diverse range of industries, including banking, wealth management, e-commerce, automotive, insurance, and healthcare. With a strong focus on the financial services sector, CLPS serves a growing network of clients, ranging from mid-sized enterprises to Fortune 500 companies, across Asia, North America, Europe, and the Middle East.
Core Services and Solutions
CLPS offers a comprehensive suite of IT services, including:
- IT Consulting Services: Expertise in financial technology solutions, legacy system modernization, and digital transformation initiatives.
- Customized IT Solutions: Development of tailored platforms, such as risk control systems, credit card solutions, virtual banking training platforms, and debt collection systems.
- Robotic Process Automation (RPA): Advanced automation tools like Nibot, designed to enhance operational efficiency across industries.
- Artificial Intelligence (AI): AI-driven solutions for business process optimization, intelligent automation, and predictive analytics.
- Global Delivery and IT Staffing: Seamless integration of talent and technology through its Talent Creation Program (TCP) and Talent Development Program (TDP).
Global Footprint
To meet the growing demand for global IT support, CLPS has established 19 delivery and research & development centers worldwide. These centers are strategically located in Mainland China (Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan) and internationally in the USA, Canada, Japan, Singapore, Malaysia, India, Philippines, UAE, and Hong Kong SAR. This extensive global presence enables CLPS to provide real-time, localized services to its clients.
Strategic Growth and Diversification
CLPS's growth strategy is underpinned by its dual focus on geographic expansion and diversification into emerging sectors. Recent acquisitions, such as Shell Infotech in Southeast Asia and Purple Potato Finance, have bolstered its market share and strengthened its service portfolio. The company has also ventured into new industries, including e-commerce, tourism, and academic education, complementing its core IT offerings.
Technology and Innovation
Innovation is at the heart of CLPS's operations. The company has invested heavily in five key technological engines: AI, low-code platforms, RPA, cloud computing, and big data. Its AI Innovation Committee (CAIC) spearheads the integration of advanced technologies like generative AI and machine learning into its solutions, enabling clients to achieve digital transformation and operational excellence.
Challenges and Resilience
Despite facing challenges such as fluctuating client demand and global economic uncertainties, CLPS has demonstrated resilience through strategic initiatives. These include diversifying revenue streams, optimizing operational costs, and enhancing talent acquisition and development. Its proactive approach to market dynamics ensures sustained competitiveness and long-term growth.
Commitment to Excellence
CLPS is committed to delivering high-quality IT services that align with international standards. Its emphasis on innovation, client-centric solutions, and global expansion positions the company as a trusted partner for organizations navigating the complexities of digital transformation.
Conclusion
With its robust service portfolio, technological expertise, and global reach, CLPS Incorporation continues to redefine the IT consulting landscape. By addressing the evolving needs of its clients and leveraging cutting-edge technologies, the company is well-positioned to drive sustainable growth and create value for stakeholders worldwide.
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.
CLPS Incorporation (Nasdaq: CLPS) will present at the China Roadshow Virtual Technology Investor Conference on December 15, 2021, at 2:30 p.m. Beijing Time. The presentation will be live-streamed on major online platforms in China, including FutuBull and Tencent Stock Selection. Interested participants can visit this link to join or schedule a meeting. Presentation materials will be accessible on the Company’s investor relations website.
CLPS Incorporation (Nasdaq: CLPS) announced its subsidiary, JAJI, will apply for listing on the NEEQ and pursue a public offering at the Beijing Stock Exchange. The number of shares and pricing are yet to be determined. JAJI, operating independently in IT consulting, generated 5.4% of CLPS's total revenue in fiscal 2021. Hua Ying Securities will act as the advisor for JAJI's listing. This strategic move aims to enhance JAJI's growth and support technological advancements across various industries, including big data and AI.
CLPS Incorporation (Nasdaq: CLPS) announced a framework agreement through its subsidiary, JAJI Co., Ltd., to provide IT consulting services for a new high-end electric vehicle brand in China. The collaboration will enhance IT components for the Client's EVs, including smart-driving systems. For fiscal year ending June 30, 2021, CLPS's automotive revenue rose 132% to $8.5 million, now making up 6.7% of total revenue. This partnership is projected to bolster CLPS's growth in the automotive sector, leveraging their dual-engine strategy for market expansion.
CLPS Incorporation (Nasdaq: CLPS) announced participation in the Citi China Investor Conference, scheduled for November 1-3, 2021. The event will feature one-on-one and small group meetings, accessible through invitation and registration only. The Company, headquartered in Hong Kong, specializes in IT consulting for the banking and financial sectors, maintaining 19 delivery centers globally, including locations in the US, Europe, and China. For more details or to arrange meetings, interested parties can contact a Citi representative or visit the conference website.
On October 15, 2021, CLPS Incorporation (Nasdaq: CLPS) announced its financial results for the six months ending June 30, 2021, and the full fiscal year 2021. Revenues surged 44.6% in H2 to $67.7 million, with IT consulting services up 43.2% to $65.2 million. Net income skyrocketed 166.0% to $2.1 million. For the fiscal year, total revenues rose 41.0% to $126.1 million, with net income increasing by 127.9% to $7.0 million. The company projects 30-35% sales growth for fiscal year 2022, underlining its strong operational performance and strategic investments.
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