CLPS Research Renamed CLPS Innovation Lab to Drive IT Innovation Growth

SHANGHAI,Jan. 3,2020 --CLPS Incorporation(Nasdaq:CLPS) ("CLPS" or "the Company"),today announced that its research center,CLPS Research,has been renamed the CLPS Innovation Lab. The renaming emphasizes the Company's capabilities of researching and developingcutting-edge technology with a focus on continuous scientific and technological innovation to provide clients with more comprehensive and efficient IT services.

Building upon the legacy of CLPS Research's achievements,CLPS Innovation Lab will be committed to the research and application of innovative technologies,including distributed application systems,cloud computing,micro services,open API,robotic process automation (RPA),blockchain,and big data,among other technologies.

Ms. Jing Zhao,Vice President of CLPS Innovation Lab,said,"CLPS Innovation Lab remains dedicated and focused on exploring cutting-edge technology. In the past year,we have implemented RPA and big data on CLPS's human resources and financial management systems,which meaningfully improved operational efficiency. In addition,we deployed RPA to our clients,and we have received positive feedback on our technology. In the next two to three years,we intend to apply more innovative technologies to our internal management systems to further reduce operational costs. The learnings derived from our internal implementations will then enable us to offer the technologies to our clients with improved IT services efficiency and client satisfaction."

Mr. Henry Li,Chief Operating Officer of CLPS,commented,"CLPS Innovation Lab adheres to our strategy of promoting our products and solutions based on new technology and new research,application innovations,and our leading talent pool,while improving our technological innovation capability and market competitiveness. As the center of our research and development efforts,it will continue to be one of the most important drivers of CLPS's growth."

About CLPS Incorporation

Headquartered inShanghai,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. MainlandChinacenters are located inShanghai,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,andIndia. For further information regarding the Company,please visit:http://ir.clpsglobal.com/.

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. 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 athttp://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

Email: ir@clpsglobal.com

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