CLPS Incorporation Invests in HQZC to Expand Its IT Services in Semiconductor and Other Industries

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Aug 18, 2020, 08:00 ET

HONG KONG, Aug. 18, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced its strategic investment in Guangdong Huaqin Zhichuang Software Technology Co., Ltd. ("HQZC"), an IT services and solutions provider. CLPS invested RMB 1 million and has taken 10% ownership stake in HQZC through its wholly owned subsidiary, ChinaLink Professional Services Co., Ltd.

Established in July 2020, HQZC's business provides IT services and solutions for clients in industry verticals such as semiconductor, telecommunication, Internet of Things (IoT), Internet, mobile video, and applications, among others. Based on a comprehensive evaluation of HQZC's market size, growth potential, and business edge, CLPS has decided to invest in HQZC, aiming to expand its business and industry reach.

Mr. Raymond Lin, Chief Executive Officer of CLPS, said, "Global trends in development and innovation within our focused industries -- semiconductor, telecommunications, IoT, Internet, and mobile video, among others underscore strong demand for IT services and solutions. As a leader in digital transformation, CLPS is well-equipped to understand and capitalize on this demand. Our investment in HQZC aims to further expand CLPS's business in other industry verticals, in both domestic and overseas markets. It also advances our diversification strategy and competitive advantage in target industries where we have the greatest expertise."

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: [email protected]

SOURCE CLPS