CLPS Incorporation (Nasdaq: CLPS) (“CLPS” or “the Company”), announced today that its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd. (“JAJI”), has entered into a strategic cooperation agreement (the “Agreement”) with Beijing Yusys Technologies Co., Ltd. (“Yusys Technologies”, 300674.SZ). Both parties will jointly conduct fintech-based initiatives including product promotion, project delivery and IT personnel training.
Headquartered in Beijing, Yusys Technologies is an A-share company listed on the Shenzhen Stock Exchange. It provides fintech services and products such as IT consulting and planning, software products, solutions and implementation, operation, maintenance and testing, system integration and business operation for financial institutions.
Under the Agreement, both parties intend to capitalize each other’s competitive advantage in fintech to optimize and eventually achieve the cooperation’s goals. JAJI’s capability in providing comprehensive training programs tailored to IT talents will be integrated to complement Yusys Technologies’ business model. Leveraging the high-quality overseas resources of its parent company, CLPS, JAJI also plans to provide business development and marketing support to Yusys Technologies’ fintech products and services in overseas market. Meanwhile, Yusys Technologies can make use of and promote JAJI’s well-established IT consulting services subject to the demand for domestic projects. Both parties also agreed to remain open to capital partnership opportunity, including but not limited to the establishment of domestic and foreign joint ventures that will pave the way for business expansion.
Mr. Oscar Yuan, General Manager of JAJI, said, “Yusys Technologies’ credit management system, asset management platform and data products maintain high market share in the domestic fintech industry. By exploring and sharing information on each other’s products and services, this cooperation will mutually benefit both in complementing each other’s advantages to further expand the global fintech services market and business.”
Mr. Raymond Lin, Chief Executive Officer of CLPS, said, “We are very honored to enter into a strategic cooperation with Yusys Technologies. Interactions with leading companies in the industry not only help us to enhance our competitiveness in the fintech services market, but also give us confidence in the future development of JAJI on its way to entering the capital market.”
Mr. Zhongcheng Ouyang, Chief Executive Officer of Yusys Technologies, said, “In the recent years, Yusys Technologies is committed to delivering top-notch financial information software products conformed to overseas market. We are confident that our cooperation with CLPS, through JAJI’s vast international sales network and localization delivery team, we will be able to diverge and expand our overseas market footprint. Meanwhile, JAJI has previously announced its IPO plan on the National Equities Exchange and Quotations and the Beijing Stock Exchange, which reflects its upward momentum for future development. Lastly, through the Belt and Road Initiative, our strategic cooperation with JAJI will enable both parties to export China’s financial digital products to global market.”