CLPS Incorporation Relocates Global Corporate Headquarters to Hong Kong; Establishes Another Milestone In Its Global Expansion Strategy

HONG KONG,May 19,2020 -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"),today announced the relocation of its global corporate headquarters to Hong Kong to further expand its business as part of the implementation of its global expansion strategy. Shanghai will now serve as CLPS's regional headquarters in Mainland China.

Founded in Shanghai,CLPS has achieved more than a decade of consistent development,including large scale operation growth since 2005. As one of the largest financial hubs in the world,Hong Kong has been accelerating its fintech development to promote the growth of its fintech services sector. Thus,CLPS decided to relocate its global corporate headquarters to Hong Kong to reinforce its global expansion strategy and to achieve further business growth. The Company specifically aims to bridge and expand its financial technology services business on a global scale,which adheres to the Company's commitment to deliver a globally competitive business.

Mr. Raymond Lin,Co-Founder and Chief Executive Officer of CLPS,said,"The relocation of our global corporate headquarters to Hong Kong is an important milestone of the implementation of CLPS's global expansion strategy to streamline our international business development,client communication,and service delivery. As an international financial hub,Hong Kong is home to numerous international financial institutions,including our existing and potential clients. I believe that with Hong Kong's innovative fintech development environment and CLPS's years of experience in the financial technology field,we will be able to leverage Hong Kong's advantage in mainstream financial services and Mainland China's advanced fintech capabilities to provide clients with high quality services. Facilitating the innovation and development of fintech in Hong Kong is only one of our strategic approaches to global expansion. We are working tirelessly and remain consistently on track with our goal to develop a globally competitive business and to maximize the Company's overall value."

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 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. 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,and India. 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 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

Email:ir@clpsglobal.com

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