CLPS Incorporation Announces Signing of Framework Agreement with A China A-Share Company to Develop Financial IT Services in Domestic Market

CLPS Incorporation, announced that, through its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd. (“JAJI”), it has entered into a framework agreement (the “Agreement”) with an A-share listed company (“the Client”), which provides financial information software products and integrated services. Pursuant to the Agreement, CLPS and the Client will leverage their respective industry expertise in financial IT services to expand client base and establish a common ground in identifying the demand for IT talent and technology requirement from the financial institutions.

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Fintech industry is one of the key drivers in China’s economic growth. Despite the impact of COVID-19, the demand for IT services in the fintech industry remains robust, and it is forecasted that this trend will continue going forward. The cooperation with the Client aims to further streamline CLPS’s key business, the IT consulting services, with focus in the banking sector. CLPS and the Client will join forces to strengthen research and development capability and improve the competitiveness of IT service deliverables.

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Mr. Oscar Yuan, General Manager of JAJI, said, “Our cooperation with the Client signifies the recognition of our competitive advantages in the financial IT services. We hope that this initial step will translate into more cooperation in the future, with the purpose of providing broader brand exposure and developing an industry-recognized financial IT services.”

Mr. Henry Li, Chief Operating Officer of CLPS, said, “We are very pleased to start a new chapter of cooperation with the Client. While we actively implement our global expansion strategy, we also focus on strengthening our core competencies, further improving the margin of our IT consulting services revenue, and creating more business opportunities that will serve as engines for the Company’s growth.”

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