Transforming Institutions Through Innovative IT Services!
In today’s rapidly evolving global financial landscape, institutions demand more than just technology solutions – they require a partner who understands their unique challenges, anticipates their needs, and delivers innovative services that drive success. CLPS Incorporation stands at the forefront of this transformative journey, offering a diverse range of information technology, consulting, and solutions tailored to the banking, wealth management, e-commerce, and automotive areas.
Let’s delve into the fascinating journey:
From Vision to Leadership
Mr. Raymond Lin’s tenure at CLPS began in February 2009 when he assumed the role of CEO and Director. His motivation to join CLPS was deeply rooted in his extensive background in IT outsourcing, talent acquisition, training, and service delivery. Prior to this pivotal role, his career path was marked by achievements and leadership roles that solidified his expertise in the IT industry.
Before his tenure at CLPS, Mr. Lin served as a Business Consultant at VanceInfo, a renowned IT consulting and outsourcing company, from January 2008 to January 2009. This experience exposed him to the multifaceted landscape of the IT industry, providing valuable insights into its dynamic nature.
Notably, VanceInfo later acquired A-IT Software (Shanghai) Co. Ltd., where Mr. Lin had previously held the position of General Manager. His leadership during this period played a pivotal role in establishing him as an IT outsourcing service veteran.
One of Mr. Lin’s standout contributions was his instrumental role in pioneering training programs for mainframe and VisionPLUS, a credit card processing solution, in China. These initiatives positioned CLPS as a significant mainframe resource hub and propelled the VisionPLUS project team into the forefront of Greater China. His dedication to talent development and service excellence is strongly aligned with CLPS’s mission and vision.
In 2015, Mr. Lin earned the prestigious title of MSE Senior Advisor at Fudan University, further solidifying his reputation in the industry. His involvement in this advisory role at such a renowned institution underscores his commitment to sharing knowledge and expertise with aspiring IT professionals.
Under Mr. Lin’s visionary leadership, CLPS Incorporation has made significant strides in the fintech sector. His deep-rooted experience in IT outsourcing, training, development, and service delivery positions CLPS as a key player in the evolving fintech landscape. With a focus on innovation, efficiency, security, and customer-centric solutions, Mr. Lin continues to lead CLPS toward new heights in the digital financial era.
Global Reach and Expertise
Though officially incorporated in May 2017, CLPS’s journey commenced much earlier, within the dynamic landscape of Shanghai, starting in 2005. Here, the company took its initial steps into the realms of financial and technological services, laying the groundwork for its ambitious vision. From the outset, CLPS’s focus was clear: to deliver excellence to global institutions, initially spanning the banking and credit card areas and eventually laying the ground for wealth management, insurance, automotive, and technology.
CLPS’s dedication to excellence soon transcended geographical boundaries, with its operations extending across international regions. With headquarters in Hong Kong, as well as IT centers across mainland China, the company’s global reach grew exponentially. From neighboring countries in Asia to Australia, the U.S., and beyond, CLPS strategically positioned itself to cater to the unique needs of its diverse clientele.
At the core of CLPS’s approach is an unwavering commitment to innovation. The company harnesses cutting-edge technologies to provide tailored digital transformation services that empower clients to achieve their distinct business objectives. By staying at the forefront of technological advancements, CLPS ensures that its solutions remain aligned with the evolving needs of the financial and technology sectors.
May 24, 2018, marked a pivotal moment in CLPS’s journey as it became a listed company on the Nasdaq Stock Market. This achievement was not merely a milestone; it was a resounding recognition of the company’s growth, potential, and global impact. CLPS’s listing on Nasdaq elevated its profile on the world stage, cementing its position as a major player in the realms of IT and fintech.
Adaptability in a Changing Landscape
CLPS’s journey began in 2005, and from that moment, it embarked on a mission to provide cutting-edge IT services to institutions across various sectors. With nearly twenty years of operational experience, CLPS has honed its expertise, refined its services, and solidified its position as a leader in the field.
Throughout its history, CLPS has diversified its services to cater to a wide range of industries, including banking, wealth management, e-commerce, automotive, and technology. This diversification has allowed the company to amass a wealth of knowledge and experience, equipping it with the tools needed to address the unique challenges and opportunities presented by each sector.
The IT services industry is characterized by constant change and innovation. CLPS’s remarkable longevity in this sector is a testament to its adaptability and ability to stay ahead of the curve. Over the years, the company has embraced emerging technologies and trends, ensuring that its IT services remain relevant and effective.
CLPS’s extensive tenure in the industry has not only solidified its position but also underscored its track record of success. The company’s ability to consistently deliver results, meet client expectations, and drive digital transformation has earned it a reputation for excellence.
As a global player, CLPS has expanded its reach far beyond its initial roots. It has established a presence in key international markets, forging valuable partnerships and collaborations along the way. This global perspective allows CLPS to offer a broad spectrum of services to clients with diverse needs.
Comprehensive Service Offerings
CLPS offers a broad spectrum of digital transformation services, covering staffing-based consulting, customized IT solutions, and advanced technology implementations. This diverse range of services empowers clients to either build new systems or enhance existing ones. Whether it’s core banking systems, credit card solutions, or cutting-edge e-commerce platforms, CLPS leverages its expertise to fulfill client objectives.
Investment in Talent Creation and Development
One of CLPS’s distinctive features is its investment in talent. The CLPS Academy oversees the Talent Creation Program (TCP) and Talent Development Program (TDP). TCP, operating for over a decade, focuses on recruiting, training, developing, and retaining top-tier talent. Interns undergo rigorous training before becoming integral members of development teams. TDP, on the other hand, continually hones the skills of seasoned professionals, ensuring they stay at the forefront of industry trends. These programs not only create a pool of skilled professionals but also foster lasting client relationships.
Pioneer in Human Capital
CLPS has emerged as a pioneer in providing IT professionals to the financial and technology sectors. With a strong focus on industries like banking, wealth management, e-commerce, and automotive, CLPS boasts a substantial pool of skilled talent. This workforce, many of whom are multilingual, facilitates seamless communication with clients. Its 3,824 employees as of fiscal year 2022, predominantly IT professionals, have made CLPS a go-to partner for businesses that require bilingual or multilingual capabilities.
Industry Expertise and Domain Knowledge
CLPS’s depth of industry expertise and domain knowledge is a cornerstone of its success. Its teams possess a profound understanding of financial industry verticals, enabling them to address clients’ specific needs with precision. This expertise is particularly valuable in the banking, wealth management, e-commerce, and automotive sectors, where nuanced knowledge can make all the difference.
Additionally, CLPS has strategically engaged with blue-chip clients, forging enduring relationships based on trust and exceptional service delivery. Its track record of excellence has solidified these partnerships, making CLPS the trusted choice for clients seeking IT solutions.
Key Financial Solutions
CLPS Incorporation centers its primary focus on key operational areas, each catered to specific industry sectors:
Banking Solutions
One of CLPS’s core strengths lies in its banking solutions. With over 15 years of experience working with global banks, CLPS specializes in implementing and enhancing banking systems. These solutions span various functions, including loans, savings, deposits, account management, anti-money laundering, risk control, and credit card systems. Whether it’s traditional or online banking, CLPS offers a comprehensive suite of business modules. Its deep market insights have enabled the development of products such as credit card systems, transaction-acquiring platforms, reward point terminals, and virtual bank training platforms.
Credit Card Expertise
CLPS is a recognized expert in credit card solutions, providing IT consulting services in areas like applications, authorization, settlement, collection, promotions, point systems, anti-fraud measures, statements, reporting, and risk management. The company has supported both Chinese and global clients in managing their credit card IT systems, including the complex VisionPLUS platform.
Core Banking Services
In the core banking domain, CLPS offers services for system implementation, including business analysis, design, development, testing, maintenance, and global operation support. These services encompass functions such as loans, deposits, general ledger, wealth management, debit cards, anti-money laundering, statement and reporting, and risk management. CLPS also offers architecture consulting services for core banking systems, online banking, and mobile banking.
Wealth Management Solutions
CLPS extends its expertise to the wealth management sector, serving investment banks, insurance groups, asset management corporations, and related entities. The company provides IT services and industry knowledge in areas such as asset management systems, core insurance systems, and pension systems.
E-Commerce Services
CLPS has expanded its capabilities to e-commerce, undertaking IT system development for both domestic and international clients. These projects cover various aspects of online platforms, cross-border e-commerce, logistics, big data analysis, and intelligent decision-making.
Automotive and Technology
Leveraging its expertise from the financial and e-commerce sectors, CLPS has ventured into automotive and technology. The company participates in the development of autonomous driving, AI-driven technology, and internet auto finance platforms, addressing the growing demand for tech-enabled solutions in the automotive industry.
Consulting and Solution Services
CLPS provides consulting services to various industries, including banking, wealth management, e-commerce, and automotive. These services encompass IT consulting, business analysis, system design, and other specialized support. The company also offers customized solution contracts for system design, planning, integration, and customization based on specific client requirements.
Other Services
CLPS Virtual Banking Platform (CLB)
CLB is a unique and successful training platform for IT talents owned by CLPS. For more than ten years, the company has been focusing on recruiting, training, developing, and retaining human capital and talents. CLPS has been developing and continuously upgrading its CLB to train specialized financial IT personnel in order to differentiate itself from general IT developers. CLB is one of the crucial components of the company’s TCP. It contains a full set of banking application modules covering areas such as core banking, credit cards, and wealth management, incorporated with cutting-edge technologies, such as JAVA, Android & iOS, HTML, blockchain, cloud computing, and big data.
Recruitment and Headhunting
As per the client’s request, CLPS is capable of providing the most suitable person for a position. The Company maintains more than 100 talent acquisition staff with rich industry backgrounds and knowledge. Its recruitment centers are well equipped with advanced technology, such as cloud platforms, big data, and robotic process automation (RPA), to accelerate the talent acquisition process. As a result, CLPS obtains qualified talent, reduces talent acquisition costs, meets the growing demands of talent from its existing and potential clients, and achieves meaningful growth.
Fee-For-Service Training
Under the fee-for-service training, we incur charges for clients based on their training needs. Generally, it includes domain knowledge, technology skills, data security, and management compliance training, soft skills for personnel, and English language skills, including verbal and business correspondence for all levels, especially for those who need to communicate with global customers directly on a daily basis. However, the training content and approach can be customized based on the client’s training needs.
Innovation Lab Initiatives
The CLPS Innovation Lab (CLPS i-Lab) plays a pivotal role in driving research and development (R&D) efforts that enhance the company’s turn-key financial solutions. The lab focuses on innovative technologies such as blockchain, big data, cloud computing, microservices, open APIs, robotic process automation (RPA), artificial intelligence (AI), and distributed application systems. By integrating the DevOps methodology and tools, the lab revolutionizes project delivery processes, elevating operational efficiency and project quality.
Some noteworthy achievements from the CLPS i-Lab include the creation of a blockchain-based loyalty reward solution, the development of a new generation loan management system for small and medium-sized banking institutions, digital marketing solutions for enhanced customer engagement, and an AI-generated content (AIGC) solution. These innovations are driving CLPS’s growth and shaping the future of financial services.
Overview of CLPS Service Network
International Presence: CLPS has strategically expanded its global presence by establishing offices and delivery centers in key international markets. This includes locations in the United States, Australia, and Asia. These international offices enable CLPS to be in close proximity to its global clients and provide them with localized support.
Mergers and Acquisitions: CLPS has pursued mergers and acquisitions (M&A) as a means to expand its service network and capabilities. The acquisition of Ridik in Singapore is a prime example of this strategy. Such acquisitions not only enhance CLPS’s geographical reach but also bring in new talent and expertise.
Leveraging Partnerships: CLPS has formed strategic partnerships and alliances with global financial institutions, fintech companies, and technology providers. These partnerships enable CLPS to offer a broader range of services and solutions to its clients while leveraging the expertise of its partners.
Technological Innovation: CLPS places a strong emphasis on technological innovation to stay at the forefront of the IT and business solutions industry. The CLPS Innovation Lab (CLPS i-Lab) plays a pivotal role in researching and developing cutting-edge technologies, including blockchain, big data, cloud computing, AI, and more. This commitment to innovation allows CLPS to provide state-of-the-art solutions to global clients.
Talent Development: CLPS has invested in talent development programs, such as the CLPS Academy, to nurture and train IT professionals. These programs ensure a skilled workforce capable of delivering high-quality services to global financial institutions.
Client-Centric Approach: CLPS places a strong emphasis on understanding the unique needs and challenges of its clients in different regions. This client-centric approach enables the company to tailor its services to specific market requirements and build lasting relationships with global financial institutions.
Financial Institutions that CLPS Collaborates
Global Banks: CLPS provides IT consulting and solutions to global banks operating in various regions. These banks often require specialized IT services to support their operations, including core banking systems, credit card processing, risk management, and more.
Regional Banks: CLPS serves regional banks that operate within specific geographic areas. These banks may require tailored IT solutions to address their unique business needs and regulatory requirements.
Wealth Management Firms: Wealth management companies, including asset managers and financial advisory firms, benefit from CLPS’s IT expertise to streamline their operations, manage client portfolios, and ensure compliance with industry regulations.
Insurance Companies: CLPS offers IT solutions to insurance providers to enhance policy management, claims processing, underwriting, and customer service. The company’s services help insurers optimize their operations and improve customer experiences.
Payment Processors: Payment processing companies and financial technology (fintech) firms rely on CLPS’s IT services to support payment processing systems, fraud detection, transaction security, and more.
E-commerce Platforms: E-commerce companies require robust IT solutions to manage their online marketplaces, payment gateways, customer data, and logistics. CLPS supports e-commerce firms in optimizing their digital operations.
Technology Providers: CLPS collaborates with technology companies that develop software, hardware, and infrastructure solutions for the financial industry. These partnerships often involve software development, integration, and maintenance.
Role of Talent Creation and Development at CLPS
Ensuring Industry-Relevant Expertise
CLPS recognizes the rapidly evolving nature of the IT and financial industries. To stay competitive and provide cutting-edge solutions, the company places a strong emphasis on continuously updating the expertise of its workforce. Talent creation programs ensure that employees possess the latest domain knowledge, technology skills, and regulatory insights relevant to the financial sector.
Fostering a Culture of Excellence
Talent development programs at CLPS go beyond technical training. They also focus on enhancing soft skills, including communication, teamwork, problem-solving, and adaptability. These skills are vital for employees to excel in client-facing roles and effectively collaborate on projects.
Global Preparedness
Given the global nature of the financial industry, CLPS recognizes the importance of English language proficiency. By investing in English language training, the company equips its workforce to communicate fluently and confidently with clients and partners worldwide.
Hands-On Experience
CLPS’s commitment to experiential learning sets it apart. Through initiatives like the CLPS Virtual Banking Platform (CLB), aspiring professionals gain practical exposure to real-world banking scenarios. This hands-on experience is invaluable in preparing talent for the complexities of the financial IT landscape.
Collaboration with Educational Institutions
CLPS actively collaborates with educational institutions, such as Educare Global Academy in Singapore. These partnerships not only help produce highly skilled IT professionals but also strengthen CLPS’s ties with the academic community, fostering innovation and knowledge exchange.
Talent Retention and Growth
CLPS’s investment in talent development extends to its existing workforce through the Talent Development Program (TDP). By enhancing the skills and knowledge of its employees, CLPS ensures that its team remains well-equipped to serve clients effectively and drive innovation within the company.
Creating a Talent Pipeline
CLPS’s approach to talent creation involves selecting qualified students each year for training programs. This strategy not only bridges the gap between theory and practice but also creates a pipeline of skilled professionals ready to contribute to the financial IT sector.
Ensuring Data Security and Compliance
CLPS recognizes the importance of data security and compliance in the financial industry. Training programs include a focus on instilling a culture of data protection and regulatory compliance among employees, contributing to the trust and confidence of clients.
CLPS Incorporation Delivery and R&D Centers
CLPS Incorporation operates a network of 20 strategically located delivery and R&Ds. These centers are positioned to efficiently serve the company’s global clientele and contribute to its operations in various geographic regions. Here is a breakdown of the centers:
Mainland China:
- Shanghai
2. Beijing
3. Dalian
4. Tianjin
5. Xi’an
6. Chengdu
7. Guangzhou
8. Shenzhen
9. Hangzhou
10. Hainan
International Locations:
1. Hong Kong SAR
2. United States
3. Japan
4. Singapore
5. Australia
6. Malaysia
7. India
8. Philippines
9. Vietnam
10. Canada
Each of these centers serves a specific role in CLPS’s operations, contributing to the delivery of IT solutions and consulting services to clients across the globe. The strategic positioning of these centers allows CLPS to tap into local expertise, provide region-specific solutions, and stay closely attuned to industry trends and client needs in each geographic area.
Furthermore, CLPS Incorporation is committed to expanding its global footprint strategically to enhance its presence in key markets and explore new opportunities for growth. This expansion is guided by a deep understanding of market dynamics, customer demands, and emerging technological trends. CLPS leverages its existing centers as a foundation for establishing new ones in locations that align with its business objectives.
The company’s global approach emphasizes agility, responsiveness, and collaboration across its network of centers. By harnessing the collective expertise of its diverse workforce and maintaining a global perspective, CLPS aims to continue delivering top-tier IT solutions and consulting services to clients worldwide. This expansion initiative reflects CLPS’s dedication to being a trusted partner for its clients and adapting to the evolving needs of a rapidly changing global business landscape.
A Comprehensive Approach to Client Needs
This approach is designed to ensure efficient and scalable solutions while maintaining flexibility and cost-effectiveness. Here’s how CLPS combines these approaches to benefit its clients:
Onsite and Onshore Support:
Direct Client Engagement: CLPS places emphasis on understanding its clients’ specific challenges, business processes, and objectives by deploying onsite or onshore teams. These teams work closely with clients at their physical locations, fostering real-time communication and immediate issue resolution.
Tailored Solutions: The close proximity of onsite and onshore teams allows CLPS to develop solutions that are highly customized to meet the client’s unique needs and align with their organizational dynamics.
Offsite and Offshore Services
Cost-Effective Resource Utilization: CLPS leverages offsite and offshore resources to optimize operational costs. Offshore teams are often situated in regions with favorable cost structures, enabling CLPS to provide competitive pricing to clients while delivering high-quality services.
Scalability: Offsite and offshore models offer flexibility in resource allocation. CLPS can quickly scale up or down based on project requirements, ensuring that clients receive the necessary support without delays.
Operational Flexibility: The ability to seamlessly transition between onsite and offsite resources provides CLPS with operational agility, enabling it to adapt to evolving project dynamics and client demands.
Specialized Expertise: CLPS can tap into a diverse talent pool from different regions, allowing the company to offer specialized expertise tailored to specific project requirements.
Global Perspective: Combining onsite presence with global resources gives CLPS a holistic view of industry trends, best practices, and innovations, enriching its service offerings and ensuring clients benefit from a global perspective.
By integrating these approaches, CLPS aims to deliver solutions that not only address immediate client needs but also foster long-term collaboration and growth. The balanced mix of onsite, onshore, offsite, and offshore resources enables CLPS to navigate the dynamic landscape of IT and business solutions effectively. This approach creates value for clients in a rapidly evolving global market and positions CLPS as a trusted partner for efficient and scalable services.
A Leading Financial IT Services Player
CLPS Incorporation has laid out a comprehensive set of strategies to drive its growth and expansion in terms of geographic locations and service offerings:
Grow Revenue and Client Base
CLPS plans to focus on both existing and new clients to cultivate revenue opportunities. The company aims to deliver high-quality services to its existing clients while attracting new clients by leveraging its extensive service portfolio and deep industry expertise.
Invest in R&D
CLPS is committed to increasing its investment in R&D. This investment will deepen its domain expertise in the financial industry and lead to the development of specialized solutions tailored to specific industry verticals.
Talent Creation and Development
Talent remains a critical asset for CLPS. Initiatives like the Talent Creation Program (TCP) and Talent Development Program (TDP) will ensure a steady supply of skilled financial IT talent. Expanding the CLPS Academy to other key cities and industries will tap into a broader talent pool.
Operational Excellence and Efficiency
CLPS aims to drive operational efficiencies through investments in infrastructure, R&D, and human capital. The company’s integrated platform offers economies of scale, and advanced technologies like cloud computing enhance scalability and cost-effectiveness.
Strategic Alliances and Acquisitions
CLPS plans to form strategic alliances and pursue selective acquisitions to capture new growth opportunities. These initiatives will enhance technology capabilities, deepen client relationships, expand the service portfolio, and explore new geographical markets.
Global Expansion Strategy
CLPS is committed to its global expansion strategy, extending its presence to various geographic locations. Initiatives like the establishment of CLPS Technology (Philippines) Corp. align with this strategy, allowing the company to serve clients in new markets.
Collaboration and Partnerships
CLPS has strategically collaborated with organizations and entered into agreements to leverage industry expertise and resources for education programs and fintech-based initiatives. These collaborations enhance the company’s capabilities.
By pursuing these strategies, CLPS Incorporation aims to continue its growth trajectory in the financial IT services industry while delivering value to its shareholders. The company’s commitment to innovation, talent development, operational excellence, and global expansion positions it for success in a dynamic and competitive market.
Certifications
ISO 9001 Certification: CLPS’s attainment of the ISO 9001 certification exemplifies its dedication to quality management systems. This globally recognized standard underscores the company’s commitment to delivering consistent, high-quality services that meet customer expectations and enhance client satisfaction.
ISO 14001 Certification: The ISO 14001 certification signifies CLPS’s proactive approach to environmental responsibility. By adhering to stringent environmental management standards, the company demonstrates its commitment to minimizing its ecological footprint and contributing to sustainable practices.
ISO 27001 Certification: As holders of the ISO 27001 certification, CLPS demonstrates its paramount commitment to information security management. This certification reinforces the company’s dedication to safeguarding sensitive information and data, a crucial aspect in today’s digitally driven landscape.
CMMI Level 5 Certification: Attaining Capability Maturity Model Integration (CMMI) Level 5, the highest level of process maturity, illustrates CLPS’s prowess in software development and project management. This certification validates the company’s ability to consistently deliver products and services of exceptional quality.
TMMi Level 3 Certification: The Test Maturity Model Integration (TMMi) Level 3 certification reaffirms CLPS’s proficiency in software testing and quality assurance. This achievement highlights the company’s rigorous approach to ensuring the reliability and performance of its solutions.
Awards & Recognitions
CLPS Incorporation’s exceptional performance and contributions within the corporate niche have garnered a range of esteemed certifications and awards, solidifying its status as a prominent player in the technology and solutions domain. These accolades underscore CLPS’s commitment to excellence, innovation and its significant impact on the industry.
- Shanghai Government’s Enterprise Software Certification: This recognition from the Shanghai government emphasizes CLPS’s contribution to advancing technological innovation within the region. The Enterprise Software Certification underscores the company’s role in propelling digital transformation and enhancing business operations.
- High-tech Enterprise Designation: Being designated as a high-tech enterprise affirms CLPS’s status as a technological trailblazer. This award reflects the company’s consistent efforts to push the boundaries of innovation while also contributing to the growth of the broader technology ecosystem.
- Little Giant Company for Science and Technology: The Little Giant Company designation further solidifies CLPS’s impact in the field of science and technology. This recognition showcases the company’s significant contributions to technological advancements and its role in shaping the industry’s trajectory.
- Professional Talent Development Training Camp: The receipt of this certificate of recognition underscores CLPS’s commitment to fostering a skilled and capable workforce. By nurturing talent through professional development initiatives, CLPS contributes to the growth of expertise in the industry.
In sum, CLPS Incorporation’s array of certifications and awards serve as a testament to its unwavering dedication to quality, innovation, and transformative impact. These accolades not only reflect the company’s present achievements but also signal its ongoing commitment to shaping the future of technology and solutions within the corporate landscape.
Testimonials
The continuous growth and progress of CLPS cannot be achieved without the unremitting efforts of its people. CLPS staff always adhere to the Company’s core values: honesty, diligence, professionalism, and responsibility.
Foreign Banking Project Team- Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS)
Despite the full-blown pandemic last year, the CLPS team remained focused and professional. They were able to complete the development of various projects we requested. Behind the great teamwork, there were hardworking individuals who made important contributions. I would like to extend my gratitude to the CLPS team, and I hope you continue to take full advantage of your strengths and achieve more success. I am looking forward to cooperating with you for a long time!
- Client from a large bank in Hong Kong SAR, China
Jack Qiu, General Manager- Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS)
In the Financial system performance optimization project, Jack developed and tested comprehensive and efficient solutions to meet performance expectations. As a team lead counterpart, he did his best to arrange and cooperate with us. As senior technical personnel, he participated in different key projects and put forward suggestions to find the best technical solutions.
- Client from a large bank in Hong Kong SAR, China
To Mingjie Shen, software development engineer of Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS):
Mingjie Shen showcased his technical expertise, which provided important help for the progress of the financial system upgrade project. His interpersonal skills, work ethic, management, and team-leading experiences were also significantly improved.
- Client from a large bank in Hong Kong SAR, China
To Xiang Zhao, software development engineer of Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS):
Xiang Zhao efficiently coordinated the work scope of the financial system platform migration project with his team. He ensured that the project would be delivered with high quality despite the manpower constraint.
- Client from a large bank in Hong Kong SAR, China
To Qingyi Li, software development engineer of Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS):
In the financial system compliance project, Qingyi Li led the team to constantly learn new technical and business knowledge. He also delivered the project based on our standards.
- Client from a large bank in Hong Kong SAR, China
To Fangyu Li, software development engineer of Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS):
In the new financial system module project, Fangyu Li made significant progress in his analytical skills. He studied and worked hard in order to overcome various technical and business difficulties.
- Client from a large bank in Hong Kong SAR, China
To Yue Zhai, software development engineer of Qinson Credit Card Services Limited (“QCC,” a subsidiary of CLPS):
In the financial system technology upgrade project, Yue Zhai stayed focused and worked hard for the success of the project.
- Client from a large bank in Hong Kong SAR, China
To Hao Li, software development engineer of the Automobile Finance Project Team of CLPS East China Region:
Hao Li joined CLPS as a software engineer. His skills and experience were not limited to his job as a front-end developer. He overcame hindrances such as the lack of experience in personnel and project management. He eventually formed an excellent team and became a reputable project team leader. After ten months, he led the team to complete the development project for WeChat mini apps. He showed a strong sense of responsibility, learning ability, and comprehensive planning ability, and he can work under pressure. In addition, he’s a self-driven person, which enabled the exploration of new digital marketing strategies for auto financial products for his clients.
- Client from a big auto finance company in China
To Xia Li, Hui Lu, Xingzi Li, and Wei Jiang, software testing engineers of the Domestic Banking Project Team of CLPS East China Region:
This all-women team of software testing engineers had participated in the testing work of the marketing and loan platform of a domestic bank. Despite the tight schedule of the project, they worked actively, conscientiously, and responsibly, and efficiently communicated with the development of the project. Our operation became smooth upon the successful launch of the project. They also won the Test Excellence Award and Test Quality Award in the internal review of the project team in 2020.
- Client from an urban commercial bank in China
To Hu Yang and Zhenkai Zhang, system engineers of the Foreign Banking Project Team of CLPS East China Region:
Yang and Zhang were involved in the setup and upgrade of the IT infrastructure of our office. They provided professional technical support and onsite communication, answered the inquiries raised by users, and solved the needs on time. They also unanimously won affirmation and praise from the user department.
- Client from a leading international bank in the UK
To the Delivery team of CLPS Key Account BU- E-commerce:
It’s a pleasure working with you in recruiting candidates. As a client, I have experienced CLPS’s expertise and passion. All of your teams are patient with the customer and are able to explain any question encountered in the workplace.
CLPS is a proven partner that is conscientious and diligent in getting things done. I would like to extend my gratitude to CLPS, and we’re looking forward to working with you in the coming years!
- Client from an international payment platform
Financial Performance
Audited Fiscal Year 2022 Highlights:
In the audited fiscal year 2022, CLPS Incorporation achieved remarkable growth and notable milestones across various segments, reaffirming its position as a leader in the technology and solutions sector. These highlights, when compared to the twelve months ended June 30, 2021, showcase CLPS’s dedication to innovation, diversification, and expanding its market presence.
Impressive Revenue Growth
CLPS reported a substantial 20.6% increase in revenues, reaching an impressive $152.0 million from the previous figure of $126.1 million. This upward trajectory underscores the company’s capacity to drive business growth and meet evolving client demands effectively.
Diverse Revenue Streams
The fiscal year highlighted CLPS’s ability to provide diverse and comprehensive solutions. Revenue from IT consulting services rose by 17.8%, amounting to $144.1 million from $122.3 million. Simultaneously, revenue from customized IT solution services exhibited remarkable growth, skyrocketing by 115.2% to $6.7 million from $3.1 million. This underscores CLPS’s prowess in tailoring solutions to meet specific client needs.
Expansion in Key Areas
The company’s strategic focus on key sectors yielded impressive results. Revenue from the wealth management area surged by 27.5%, reaching $32.1 million from $25.2 million, while revenue from the e-commerce area experienced a remarkable uptick of 53.5%, totaling $29.4 million compared to $19.2 million. These figures indicate CLPS’s ability to capitalize on industry trends and provide solutions that cater to evolving market demands.
International Market Penetration
Notably, CLPS made significant strides in the United States market, reporting an astounding increase of 2,443.1% in revenue, amounting to $0.9 million from $34.7 thousand. This achievement highlights the company’s growing international presence and its ability to tap into diverse markets successfully.
Operational Performance
While operating income decreased by 11.6% to $7.4 million from $8.4 million, non-GAAP operating income witnessed a positive growth of 8.0%, reaching $14.6 million from $13.5 million. Similarly, while EBITDA decreased by 3.0% to $8.8 million from $9.1 million, non-GAAP EBITDA saw a robust increase of 12.6%, amounting to $16.0 million from $14.2 million. These metrics reflect CLPS’s commitment to maintaining a strong financial position while investing in innovation and growth.
Enhanced Financial Operations
The fiscal year also highlighted CLPS’s improved financial operations. Net cash provided by operating activities totaled $3.2 million, marking a significant shift from the net cash used in operating activities of $2.6 million in the previous year. This improved financial outlook demonstrates the company’s efficiency in managing its resources and cash flows.
Client Expansion
CLPS recorded a noteworthy 5.6% increase in the number of clients, totaling 265 from the previous count of 251. This expansion speaks to the company’s ability to attract and retain clients in a competitive market landscape.
In conclusion, CLPS Incorporation’s audited fiscal year 2022 highlights underscore its sustained growth, diverse revenue streams, international expansion, and commitment to innovation. By consistently delivering exceptional solutions, expanding its client base, and maintaining strong financial operations, CLPS remains poised to shape the future of the technology and solutions industry.
CLPS Incorporation Distributes Special Cash Dividends
CLPS Incorporation, on December 14, 2022, announced the distribution of a special cash dividend of $0.05 per share. This dividend, totaling approximately $1.18 million, was disbursed to shareholders of record as of December 29, 2022. The decision reflects CLPS’s strong financial standing, long-term vision, and commitment to providing value to its shareholders. This move underscores the company’s prudent financial management and dedication to enhancing shareholder value as it continues to execute its dual-engine growth strategy and seeks future opportunities for sustained success.
