Financial Data and Key Metrics Changes - The company reported a revenue increase of 37.7% for the full year 2020, reaching $89.4 million compared to $64.9 million in the previous year [13] - Net income improved to $3.1 million from a net loss of $3.4 million in the prior year, indicating a significant turnaround [15] - Gross margin decreased to 34.8% from 36.6% due to increased operational costs during the COVID-19 pandemic [14] Business Line Data and Key Metrics Changes - Revenue from IT Consulting Services increased by 41.1% to $101 million, accounting for 67.5% of total revenue [13] - Revenue from customized IT solution services decreased slightly, reflecting changing demand dynamics [9] - Revenue generated outside of China increased by 110% to $6.3 million, showcasing successful global expansion [10] Market Data and Key Metrics Changes - Revenue from overseas business surged by 158.5% to $10.6 million, highlighting the effectiveness of the global expansion strategy [6] - The company established a presence in California to support its U.S. market operations, indicating a strategic focus on North America [6] Company Strategy and Development Direction - The company aims to expand its global footprint and market share while focusing on digital transformation and innovation [8] - Strategic investments include acquiring a Singapore-based service company to enhance capabilities in Southeast Asia [6] - The company is committed to developing talent through training programs in collaboration with educational institutions [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, projecting total sales growth of 13% to 15% for fiscal year 2021 [16] - The company acknowledged challenges posed by the COVID-19 pandemic but emphasized its commitment to employee safety and operational optimization [24] Other Important Information - The company had cash and cash equivalents of $12.7 million as of June 30, 2020, compared to $6.6 million the previous year, providing a solid financial base for operations [16] - The company may need to raise additional capital to support its global expansion strategy in the future [26] Q&A Session Summary Question: What is the company's strategy going forward and its competitive advantages? - Management highlighted a focus on global expansion and innovation, leveraging a strong talent pool and experienced management team as key competitive advantages [19] Question: What is the forecast for total revenue growth? - The company anticipates total sales growth in the range of 13% to 15% for fiscal year 2021, reflecting confidence in its growth strategy [22] Question: Why did the gross margin decrease? - The decrease in gross margin was attributed to increased operational costs during the COVID-19 outbreak, with a focus on employee and customer safety [24] Question: Is there a need to raise more cash in the near future? - While current cash reserves are sufficient for operations, the company may need to raise capital to support its global expansion strategy [26]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark one) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark one) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2019. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

CLPS, Inc. (NASDAQ:CLPS) Q2 2019 Earnings Conference Call February 22, 2019 8:30 AM ET Company Participants Rose Zu - ICR Raymond Lin - CEO Tian van Acken - CFO Conference Call Participants Brian Kinstlinger - Alliance Global Partners Operator Hello, everyone. And welcome to the First Half of Fiscal Year 2019 Earnings Conference Call for CLPS Incorporation. Today's conference is being recorded. At this time, I would like to turn the call over to Ms. Rose Zu from ICR for opening remarks and introductions. Pl ...