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CLPS Incorporation Wins Bid for a Well-Known Bank Card Processing Services Company, a Major Achievement in Credit Card Services Business

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HONG KONG, Nov. 16, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that it has won the IT services provider bid for a well-known bank card processing services company in China ("Client"). CLPS, through its Shanghai subsidiary, and the Client have signed the Procurement of IT Services Provider Agreement. Both parties have agreed to cooperate in the development, operation, maintenance, and testing of the bank card issuance core system and peripheral value-added products, as well as in providing consulting and data analysis services.

CLPS has successfully won the bid on its initial cooperation with the Client. For over ten years, CLPS has implemented set of comprehensive credit card system services for a major U.S. bank, large state-owned banks in China, and for a leading international credit card association. In addition, the Company's extensive experience and its pool of highly qualified IT professionals make it a cut above the other competitors. Moreover, CLPS has been commended by its clients for its capability in providing credit card technology and business services. The cooperation also sets a major achievement in the credit card services business of CLPS, following the establishment of Qinson Credit Card Services Ltd., the Company's wholly-owned subsidiary focused on credit card services, which gains a strong foothold for business growth going forward.

The Client is a subsidiary of a leading bank card association in China. It offers consulting and data analysis services focused in the credit card business. In addition, it provides card issuance data processing service that covers different types of cards, such as credit card, debit card, prepaid card, and integrated circuit (IC) card for offline transaction. The Client follows the Chinese and international card associations' compliance standards to ensure a secure, stable, and efficient operational services for more than two hundred card issuers and millions of bank cards in China and globally.

Mr. Henry Li, Chief Operating Officer of CLPS, said, "With years of continuous business development and improvement, we are confident and excited for our credit card services to be offered to our clients, which effectively reflects the Company's successful implementation of its growth strategy. CLPS consistently adheres to achieving a mutually beneficial cooperation and providing clients with world-class professional IT services."

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 sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, 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, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by 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 financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company's future performance, its preliminary outlook and guidance offered in this presentation, 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: ir@clpsglobal.com

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