CLPS INCORPORATION ANNOUNCES STRATEGIC COOPERATION WITH MCT, A HONG KONG LISTED COMPANY, TO DEVELOP A NEXT GENERATION LOAN TRADING SOFTWARE
HONG KONG, May 24, 2021 /PRNewswire/ — CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”), today announced a strategic cooperation with Minshang Creative Technology Holdings Limited (“MCT”, 01632.HK) to jointly develop a next generation loan trading software and to explore global financial technology services market.
On May 18 2021, CLPS, through its wholly owned subsidiary, Growth Ring Ltd., entered into a Capital Increase Agreement (the “Agreement”) with MCT. Pursuant to the Agreement, CLPS will hold 53.33% ownership stake in MSCT Investment Holdings Limited (“MSCT”), a wholly-owned subsidiary of MCT, upon closing of the transaction, while MSCT will in turn own the intellectual property rights of the loan trading software of MCT.
CLPS will leverage its competitive advantage and extensive experience as an IT services provider to international banks and other financial institutions to upgrade and improve the existing loan trading software to cope with the need of foreign market. Following the successful upgrade, which includes improved system and internationally accepted features, CLPS intends to launch the next generation loan trading software in Hong Kong and Southeast Asia region.
MCT is a company listed on the Hong Kong Stock Exchange with its headquarters located in Hong Kong. Minsheng E-Commerce Holding (Shenzhen) Co., Ltd., an e-commerce company established in Mainland China, is a controlling shareholder of MCT.
Mr. Raymond Lin, Chief Executive Officer of CLPS, said, “We have been focused on our mergers and acquisitions initiative not only in China, but also overseas as part of our global expansion strategy. Our cooperation with MCT, which involves the subscription of majority equity stake of MSCT and the plan to optimize its loan trading software, complements our capability in developing high quality products and solutions. It will also improve our edge and accelerate the pace of our technological innovation overseas. I believe that the partnership will be an important milestone in our business expansion to further enhance our brand awareness in Hong Kong, Southeast Asia, and in other geographic markets. Through M&A, we are committed to pursuing the research and development of financial products to achieve continued growth that will bring greater value to 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, Southeast Asia and Hong Kong SAR, and their PRC-based IT centers. The Company maintains 19 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, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. 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: https://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.
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.
Investor Relations Office