Core Viewpoint - CLPS Incorporation has launched Nibot, a new generation Robotic Process Automation (RPA) product aimed at enhancing business process automation and targeting international and Hong Kong markets [1][6]. Product Features - Nibot is built on CLPS's extensive RPA expertise, offering comprehensive functionality, seamless application interaction, and easy integration with third-party systems [2]. - It features an intelligent task scheduling system for flexible task allocation and multi-robot collaboration, enhancing resource utilization and automation effectiveness [2]. - The product ensures compliance with international data security standards through end-to-end encryption and role-based access control [2]. Future Integration - Nibot will integrate with AI for intelligent decision support, aiding businesses in analyzing bottlenecks and implementing improvements [3]. Competitive Advantage - Nibot includes an advanced visual process designer for rapid workflow construction, reducing the learning curve and accelerating deployment [4]. - Its scenario-based delivery model maximizes cost-effectiveness, making it versatile across sectors like finance, e-commerce, logistics, healthcare, and manufacturing [4]. Company Background - Since 2018, CLPS has focused on developing enterprise digital solutions, launching RPA solutions in 2021, and implementing projects across various industries [5]. - In 2025, CLPS is concentrating on five innovation engines: AI, low-code platforms, RPA, cloud computing, and big data, with Nibot being a key advancement [5]. - The company has received recognition from numerous clients in the financial sector for its RPA offerings [5]. Leadership Insights - The CEO of CLPS SEA & USA emphasized the product's ability to integrate advanced automation technology to enhance digital transformation for clients [6]. - The CEO of CLPS highlighted Nibot's development as a response to global RPA market demand, aiming to provide high-performance, cost-effective solutions [6].

Core Viewpoint - CLPS Incorporation's majority-owned subsidiary, JAJI Global Incorporation, has filed for an initial public offering (IPO) with the SEC, marking a significant milestone for JAJI and its future expansion plans [1][2][4] Company Overview - CLPS Incorporation is a leading global IT consulting and solutions service provider, focusing on sectors such as banking, wealth management, e-commerce, and automotive [8] - The company operates 19 delivery and research & development centers across various geographic locations, including mainland China and several international locations [8] JAJI's Business and IPO Details - JAJI specializes in IT services for the automotive and securities industries, offering advanced technology and a range of proprietary IT products [3] - The IPO aims to provide financial support for JAJI's product development, mergers and acquisitions, global expansion, and operational needs [4] - JAJI currently has a total share capital of 10,000,000 shares, with CLPS holding a 60% stake [4] Market Position and Future Plans - The IPO is expected to enhance JAJI's market competitiveness and support its long-term strategic goals [3][7] - JAJI plans to use the funds raised from the IPO to strengthen its market position and attract top talent [7]

Core Viewpoint - CLPS Incorporation has appointed Ms. Sarah Wu as a Non-Executive Director of its subsidiary Qinson Credit Card Services Limited, aiming to enhance its strategic capabilities in the fintech sector [1][5]. Company Overview - CLPS Incorporation is a leading global IT consulting and solutions service provider, focusing on sectors such as banking, wealth management, e-commerce, and automotive [6]. - The company operates 20 delivery and research & development centers across various geographic locations, including multiple centers in Mainland China and 10 global centers in regions like the USA, Japan, and Singapore [6]. Appointment of Ms. Sarah Wu - Ms. Sarah Wu has extensive experience in the fintech industry, having previously served as General Manager for North Asia at Fiserv, where she led key projects and expanded business in the Asia-Pacific region [2]. - She has held significant positions at Visa and MasterCard, focusing on payment solutions and business development in China [3]. - Ms. Wu holds an MBA and is pursuing a Ph.D. in Health Management, which, along with her international perspective, is expected to contribute to QCC's strategic approach [4]. Strategic Goals - The appointment of Ms. Wu is seen as a move to drive QCC's development and transformation into an agile and innovative global fintech company [1][5]. - The CEO of CLPS expressed confidence that Ms. Wu's expertise will enhance QCC's strategic capabilities and support its growth in the global fintech market [5].

HONG KONG, Oct. 24, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced that its Board of Directors has declared a special cash dividend of $0.13 per share of common stock, marking the third consecutive fiscal year of such a payment. It is payable on November 12, 2024 to shareholders of record as of November 4, 2024. The aggregate amount of the payment to be made in connection with this special cash dividend will be approximately $3.6 million.Mr. Raymond Lin, Ch ...

HONG KONG, Oct. 18, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced its financial results for the six months ended June 30, 2024 and full year of fiscal 2024.Fiscal year 2024 presented unique challenges due to global economic uncertainties and industry-wide layoffs. Despite these headwinds, CLPS demonstrated resilience and strategic foresight. We proactively adjusted our operations to navigate these complexities, positioning ourselves for continued growth. O ...

Financial Performance - For the fiscal year ended June 30, 2024, the company's revenues were $142.8 million, a decrease from $150.4 million in fiscal 2023 and $152.0 million in fiscal 2022[409] - The company reported a net loss of $1.8 million in fiscal 2024, compared to a net income of $0.2 million in fiscal 2023 and $4.6 million in fiscal 2022[409] - Total revenue decreased by approximately $7.6 million, or 5.0%, to approximately $142.8 million for the fiscal year ended June 30, 2024, from approximately $150.4 million for the fiscal year ended June 30, 2023[444] - Non-GAAP net income for the year ended June 30, 2024, was $1,320,706, compared to $5,026,399 for the previous year[441] - Basic non-GAAP earnings per common share for the year ended June 30, 2024, was $0.03, down from $0.22 for the previous year[441] - Net loss increased by $2.0 million or 1,215.8% to a loss of $1.8 million in fiscal 2024 from a net income of $0.2 million in fiscal 2023[458] Revenue Breakdown - Revenue from IT consulting services decreased by 5.2% or $7.5 million in fiscal 2024, primarily due to decreased demand from existing clients[411] - Revenue from new clients in IT consulting services amounted to approximately $3.3 million in fiscal 2024, up from $2.7 million in fiscal 2023[411] - Revenue from customized IT solution services decreased by $1.5 million, or 30.9%, to $3.1 million for the year ended June 30, 2024, due to decreased demand from existing clients[446] - Revenue from other services increased by $0.3 million, or 17.3%, to $1.8 million for the year ended June 30, 2024[446] - Revenue from academic education services was $1.0 million, primarily due to the acquisition of College of Allied Educators Pte. Ltd[447] - Revenues from the top five clients accounted for 44.9% of total revenues for fiscal 2024, down from 49.1% in fiscal 2023[447] - Revenue generated outside of Mainland China accounted for 15.6% of total revenue for the year ended June 30, 2024, compared to 10.8% in the prior year[447] Assets and Liabilities - Total assets as of June 30, 2024, were $110.0 million, with cash and cash equivalents amounting to $29.1 million[409] - Total liabilities as of June 30, 2024, were $46.1 million[409] - As of June 30, 2024, total shareholders' equity was approximately $62.5 million, reflecting the company's financial stability[481] - As of June 30, 2024, the company had cash and cash equivalents of approximately $29.1 million, current assets of approximately $78.1 million, and current liabilities of approximately $39.8 million[481] Expenses - Cost of revenues decreased by $6.0 million or 5.2% to approximately $109.9 million in fiscal 2024 from approximately $115.9 million in fiscal 2023, representing 76.9% of revenues in fiscal 2024[448] - Gross profit decreased by $1.6 million or 4.5% to approximately $32.9 million in fiscal 2024, with gross margin increasing to 23.1% from 22.9% in fiscal 2023[449] - Selling and marketing expenses increased by $1.3 million or 38.6% to $4.6 million in fiscal 2024, accounting for 3.2% of revenues compared to 2.2% in fiscal 2023[449] - R&D expenses decreased by $1.1 million or 14.2% to $7.2 million in fiscal 2024, representing 5.0% of total revenues[451] - General and administrative expenses increased by $3.5 million or 16.1% to $25.1 million in fiscal 2024, with non-GAAP expenses increasing by $2.9 million or 15.2%[452] Acquisitions and Investments - The company has been actively expanding its service offerings through research and development, targeted hiring, and strategic acquisitions[412] - The company invested $0.15 million for a 30% equity interest in Huanyu and later acquired the remaining 70% for $0.07 million, resulting in a total consideration of $219,272[414][417] - The acquisition of CareerWin involved a total cash consideration of $308,975, with $289,980 allocated to the acquisition of 100% equity interests in CareerWin[424][425] - The company acquired 100% of CAE for $3,244,145, aimed at creating synergies between IT professionals and educational platforms[433] - The acquisition of Shell Infotech was completed for a total cash consideration of $887,836 and $29,595, expanding the company's market share in Southeast Asia[435][436] - The company recognized a loss of $19,682 related to the remeasurement of its previously held equity interest in Huanyu[414] Cash Flow - Net cash provided by operating activities was approximately $8.9 million in fiscal 2024, including a net loss of $1.8 million, adjusted for non-cash items of $5.6 million and positive adjustments for changes in operating assets and liabilities of $5.1 million[486] - Net cash used in investing activities was approximately $12.3 million in fiscal 2024, primarily due to purchases of property and equipment, loans provided to a related party, and purchases of subsidiaries[490] - Net cash provided by financing activities was approximately $10.2 million in fiscal 2024, with bank loans of approximately $44.5 million and repayments of approximately $31.8 million[491] Currency and Taxation - The RMB depreciated by 3.7% in fiscal 2022, 8.3% in fiscal 2023, and 0.2% in fiscal 2024, impacting financial results reported in U.S. dollar terms[640] - The company has not been exposed to material risks due to changes in market interest rates, as its exposure primarily relates to interest income from excess cash held in interest-bearing bank deposits[638] - Valuation allowances are established to reduce deferred tax assets to the expected realizable amount when it is more likely than not that some portion will not be realized[507] - The company recognizes uncertain tax positions as benefits only if they are more likely than not to be sustained in a tax examination[508] Revenue Recognition - Revenue for customized IT solution services is recognized at the point of implementation and acceptance by the customer, with contract assets recorded for differences between billings and revenue recognition[503] - Academic education service revenue is recognized proportionately over a service period of 6 to 15 months, with tuition fees generally paid in advance and recorded as contract liabilities[505] - Revenue from headhunting services is recognized at a point in time when control is transferred to customers, while consulting and administrative services revenue is recognized over time[506] Client and Market Dynamics - The company aims to strengthen its position in the Southeast Asia region for IT services through acquisitions, including the purchase of Shell Infotech Pte. Ltd.[407] - The company aims to enhance its position as a leading IT services provider in the banking industry in China, focusing on sales growth and profitability[413] - The number of clients increased to 300 for the year ended June 30, 2024, compared to the prior year period[447] - Revenue generated outside of Mainland China accounted for 10.8% of total revenue for the year ended June 30, 2023, compared to 9.3% in the prior year[465]

HONG KONG, Oct. 11, 2024 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or the "Company"), today announced that it will release its second half and full year of fiscal 2024 financial results before the market opens on Friday, October 18, 2024.About CLPS IncorporationHeadquartered in Hong Kong, CLPS Incorporation is a global leading information technology ("IT") consulting and solutions service provider focused on delivering services primarily to global institutions on the banking, wealth manageme ...

HONG KONG, Sept. 9, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) today announced that it has received a written notice ("Notification") from the Nasdaq Stock Market LLC ("Nasdaq") informing that the Company has regained compliance with the Nasdaq's minimum bid price requirement.According to the Notification, the minimum bid price of the Company's common share was $1.00 per share or greater for the last 10 consecutive trading days from August 22 through September 5, 2024. ...

HONG KONG, Aug. 27, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) announced today the successful grand opening of its wholly-owned Singapore-based learning institution, College of Allied Educators Pte. Ltd. ("CAE"). This milestone marks a strategic move to vertically integrate the Company's business with academic education.The opening ceremony brought together distinguished leaders and industry experts from various sectors. Attendees included Dr. Han Jun, Minister Counsell ...

HONG KONG, Aug. 7, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) today announced that, through its wholly-owned subsidiary, CLPS Investment Management Ltd., it established Ridik Technology Ltd. ("Ridik Dubai"), in Dubai, United Arab Emirates, on July 31, 2024. This strategic move aims to deepen the Company's global expansion strategy and tap into the thriving Middle East market by providing advanced IT services and solutions to local and international business.The Middle E ...