CLPS Incorporation Announces Signing of Framework Agreement with A China A-Share Company to Develop Financial IT Services in Domestic Market

HONG KONG,Aug. 27,2021 -- CLPS Incorporation (Nasdaq:CLPS) ("CLPS" or "the Company"),today announced that,through its majority-owned subsidiary,JAJI (Shanghai) Co.,Ltd. ("JAJI"),it has entered into a framework agreement (the "Agreement") with an A-share listed company ("the Client"),which provides financial information software products and integrated services. Pursuant to the Agreement,CLPS and the Client will leverage their respective industry expertise in financial IT services to expand client base and establish a common ground in identifying the demand for IT talent and technology requirement from the financial institutions.

Fintech industry is one of the key drivers in China's economic growth. Despite the impact of COVID-19,the demand for IT services in the fintech industry remains robust,and it is forecasted that this trend will continue going forward. The cooperation with the Client aims to further streamline CLPS's key business,the IT consulting services,with focus in the banking sector. CLPS and the Client will join forces to strengthen research and development capability and improve the competitiveness of IT service deliverables.

Mr. Oscar Yuan,General Manager of JAJI,said,"Our cooperation with the Client signifies the recognition of our competitive advantages in the financial IT services. We hope that this initial step will translate into more cooperation in the future,with the purpose of providing broader brand exposure and developing an industry-recognized financial IT services."

Mr.Henry Li,Chief Operating Officer of CLPS,"We are very pleased to start a new chapter of cooperation with the Client. While we actively implement our global expansion strategy,we also focus on strengthening our core competencies,further improving the margin of our IT consulting services revenue,and creating more business opportunities that will serve as engines for the Company's growth."

About CLPS Incorporation

Headquartered inHong 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,Southeast Asiaand 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,Xi'an,Chengdu,Guangzhou,Shenzhen,Hangzhou,andHainan. The remaining seven global centers are located in Hong Kong SAR,USA,Japan,Singapore,Malaysia,andIndia. For further information regarding the Company,please visit:https://ir.clpsglobal.com/,or follow CLPS onFacebook,LinkedIn,andTwitter.

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

Rhon Galicha

Investor Relations Office

Phone: +86-182-2192-5378

Email:ir@clpsglobal.com

View original content:https://www.prnewswire.com/news-releases/clps-incorporation-announces-signing-of-framework-agreement-with-a-china-a-share-company-to-develop-financial-it-services-in-domestic-market-301364250.html