CLPS INCORPORATION ESTABLISHES NEW COMPANY FOCUSED ON CREDIT CARD SERVICE BUSINESS TO INTEGRATE RESOURCES, EXPAND BUSINESS SCOPE, AND REDUCE OPERATIONAL COST
SHANGHAI, Feb. 4, 2020 /PRNewswire/ — CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”) today announced that it established a new company, Qinson Credit Card Services Limited (“Qinson Credit Card”), a wholly-owned subsidiary based in Hong Kong, on December 31, 2019, to cater to the credit card service demands of the financial industry. The establishment of this subsidiary is in-line with the Company’s strategic business development plan.
With more than ten years of experience in the credit card service industry, CLPS is a leading service provider with hundreds of professionals specializing in the areas of credit card technology and business services. The Company has successfully implemented credit card systems for many large banks and other financial institutions, covering multinational and multi-currency transactions. The aggregate revenue of the Company’s credit card related business, including Qinson Credit Card, is forecasted to be approximately $7 million in fiscal year 2020.
By integrating the Company’s credit card service resources and its in-depth knowledge and successful applications of advanced technologies such as big data, blockchain, and robotic process automation (RPA), Qinson Credit Card is well positioned to provide clients a full range of credit card services and to meet growing demand from new application scenarios and innovations in the credit card business. As a result, CLPS is able to further expand its business, reduce operational costs, improve performance efficiency, and enhance the user experience.
Mr. Andy Xiang, General Manager of Qinson Credit Card, said, “Qinson Credit Card aims to provide clients with comprehensive credit card services such as consulting, business operations, product implementation, business hosting, skills training, infrastructure construction, and other services. Through extensive planning and professional management, we believe Qinson Credit Card’s services are the right solutions for existing and potential clients. To achieve our growth objectives, we will continuously improve our service capabilities, enhance the Company’s core service offering, and continue to execute on our business development strategy.”
Mr. Henry Li, Chief Operating Officer of CLPS, commented, “The establishment of Qinson Credit Card is an important milestone for CLPS. We expect Qinson Credit Card to enhance and further develop our competitive advantage in credit card services to bring a significant value proposition to clients and generate further business development opportunities.”
About CLPS Incorporation
Headquartered in Shanghai, China, 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/.
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.