Flipclutch Research: 5G helps brain-computer interface technology, can WIMI have good performance in the AR field

HONG KONG, Jan. 5, 2021 — With the continuous maturity of the technology and the hard work of various industries, the popularization of 5G networks is no longer a dream.

As the pace of 5G commercialization accelerates, relying on 5G’s enhanced mobile broadband, high reliability, low latency, and massive connection capabilities, AR’s interactive capabilities and operational efficiency will be further improved.

On the one hand, 5G will change the business operation form of AR in terms of product form, user experience, and content applications, and even promote AR as the "last screen" before the brain-computer interface. On the other hand, based on the capabilities of 5G, AR will become the next-generation spatial computing platform and technology cultivation platform.

Brain-computer interface (BCI) refers to the direct connection created between the human or animal brain and external equipment to realize the exchange of information between the brain and the equipment.

From the perspective of the application fields that can be affected by brain-computer interfaces, whether it is medical care, education, or consumption, it will bring huge market space and broad prospects.

Augmented Reality (AR) technology is a technology that ingeniously integrates virtual information with the real world. It uses a variety of technical methods such as multimedia, 3D modeling, real-time tracking and registration, intelligent interaction, and sensing. Computer-generated texts, images, three-dimensional models, music, videos, and other virtual information are simulated and applied to the real world. The two kinds of information complement each other, thus realizing the "enhancement" of the real world.

The technology that can change the traditional computer space from two-dimensional to three-dimensional is holographic technology.

The further development of 5G and AR technology may become a catalyst for the further arrival of the "AR holographic era". As holographic technology gradually penetrates all walks of life, its market prospects will also become very broad.

As a solution provider under 5G, WIMI has a leading AR holographic application platform in China. It is currently mainly used in entertainment, advertising, education, and other industries. Meanwhile, its hardware environment is relatively mature, which is very beneficial to the development of software and content in these fields. WIMI has established a comprehensive and diversified holographic AR content library among all Chinese holographic AR solution providers. WMI Hologram Cloud owns approximately 4654 AR holographic contents, 106 software copyrights, and 219 technical patents.

Due to changes in the bandwidth of 5G communication networks, holographic applications are gradually being applied to social media, communications, navigation, home applications, and other application scenarios. The commercial application scenarios of products are mainly concentrated in five professional fields, including home entertainment, light field theater, performing arts system, commercial publishing system, and advertising display system.

WIMI builds a multi-angle shooting real-time modeling system, a six-degree matrix optical field system, a binocular parallax intelligent enhancement system, and a multi-image dynamic fusion system. Besides, WIMI also has the holographic image high-speed processing algorithm, the stealth polyester optical imaging film, the holographic virtual character voice reconstruction technology, and the holographic cloud platform. The holographic cloud platform is an interactive platform with data storage, image restoration, and holographic social attributes.

WIMI builds a complete 5G holographic communication application platform through the combination of the above systems to support various online terminal and personal device applications. In the meantime, WIMI also expands various mainstream 5G holographic applications, such as holographic social communication, holographic family interaction, holographic star interaction, holographic online education, and holographic online meeting.

Space computing based on 5G and AR will change the way of human-computer interaction and give birth to more technology integration and application scenarios.

Nowadays, the scale of the AR market is showing an accelerated growth momentum around the world. Revenue from the AR and VR markets is expected to double or more in 2021. Since last year, tech giants have entered the AR field, and there is no doubt about the AR wave set off by tech giants.

At present, AR not only affects the way and experience of human-computer interaction, but also empowers the intelligent transformation of various industries by its vertical integration capabilities.

For the AR industry, terminal innovation with lighter weight, high resolution, and larger FOV is the key; 3D stereo, high frame rate content has become a rigid demand; high computing power cloud rendering, low latency encoding, as well as the high bandwidth and low latency capability of fiber and 5G dual gigabit network is the guarantee support.

In the process of AR popularization, 5G plays an important role in this process, 5G+AR has become the new frontier of science and technology. Moreover, AR content applications developed around 5G have gradually increased, and they have been promoted to consumers, and have received positive feedback from the market. There is no doubt that 5G is a catalyst for AR applications, and the development of 5G will accelerate the pace of AR popularization. In the future, AR will integrate into more industrial ecosystems and become an important part of industrial development. WIMI’s vision for the 5G era may also bring more expectations for AR applications.

About Flipclutch

Flipclutch Team is a leading market research company in Hong Kong. They have established a professional and proprietary research platform for financial markets, focusing on emerging growth companies and technologically leading companies. Flipclutch team is professional in market research reports, industry insights & financing trends analysis. For more information, please visit http://www.Flipclutch.com

Related Links :

http://www.Flipclutch.com

Iridium Edge® Solar Provides Upgraded Capabilities for Satellite IoT Tracking and Asset Management

MCLEAN, Va., Jan. 5, 2021 — Iridium Communications Inc. (NASDAQ: IRDM) today announced commercial availability of the Iridium Edge Solar – a secure, maintenance-free, solar-powered remote asset tracking and management device. With over-the-air configuration capabilities, the Iridium Edge Solar is ideal for Vessel Monitoring Systems (VMS), fisheries management, tracking of freight shipping containers, Supervisory Control and Data Acquisition (SCADA) applications, monitoring of oil and gas pipelines and heavy equipment telematics data reporting. 

The Iridium Edge Solar beta trials, which are nearing completion, are thoroughly testing its real-time, two-way communication, over-the-air configuration ability, built-in Bluetooth Low Energy (BLE) connectivity and secure, ruggedized packaging. The addition of BLE technology enables development of customized deployable sensor systems that can be positioned on machinery, vehicles, vessels or across worksites. 

"The Iridium Edge Solar is a unique and versatile solar-powered asset tracking device, when compared to alternatives available in the industry," said Bryan Hartin, executive vice president, sales and marketing, Iridium. "No other solar-powered IoT tracking device matches its geographic coverage, capabilities and cost-effectiveness, and we believe the addition of BLE local wireless connectivity adds a new level of customizability for applications requiring multiple and disparate sensor readings."

The history of solar-powered satellite IoT tracking devices has been marred by questionable field lifespan due to failures of charging batteries, solar panels and packaging susceptible to water-intrusion or cracking.  These issues have been exacerbated by the lack of two-way communications with the deployed device, leaving organizations wondering if the equipment suffered a terminal malfunction.  Iridium Edge Solar resolves these issues through complete encapsulation of all vital electronics, military-grade ruggedized packaging and an innovative, intelligent dual-power system, ensuring two-way communications delivery even in low-light conditions. 

When combined with Iridium’s truly global coverage and services like Iridium CloudConnect helping to simplify back-office integration through Amazon Web Services, businesses, governments and NGOs can rapidly scale and deploy this reliable, solar-powered asset-tracking device anywhere on the planet for up to 10 years without maintenance. 

Iridium Edge Solar now joins both the Iridium Edge and Iridium Edge Pro as finished Iridium products, each with specified, yet complementary, use-cases to extend the reach of IoT services beyond cellular coverage. 

As of the third quarter of 2020, Iridium commercial IoT subscribers grew 20% from the year-ago period to 924,000 customers, continuing the company’s growing position as the premier satellite IoT company.

Interested companies can also request a full featured demo kit or more information by visiting www.iridium.com/iridiumedgesolar

About Iridium Communications Inc. 
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus®. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.

Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com 
+1 (703) 287-7421
Twitter: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570

Related Links :

http://www.iridium.com

Ready to Meet the New Generation of Galaxy Devices? Samsung Unpacked is Happening January 14

After their Unpacked events in August and September 2020, Samsung is continuing their momentum with their first Unpacked event for 2021. The official invites have been  released for the upcoming event, Samsung Galaxy Unpacked Event 2021, it will be held on 14 January 2021, at 11 pm (GMT+8). You can tune in by heading to their official website www.samsung.com/my and https://news.samsung.com/my. The company is touting the new “Everyday Epic” with their official event tagline: ‘ Welcome to the Everyday Epic’.  

In conjunction with the upcoming Unpacked, Samsung is inviting users to sign up to get the latest information from Unpacked. If you’re registered successfully between 4 January to 14 January 2021 will be able to redeem a Galaxy Fit2 worth RM179 when they pre-order the upcoming Galaxy series and fulfilled the terms and conditions that apply. If you’re interested, head to www.samsung.com/my/unpacked/ to sign up.  

As always, Samsung has not provided any information about the upcoming Galaxy series. However, we do have an inkling thanks to rumours which have surfaced in the past months. We expect that Samsung will unveil their new flagship smartphones in the Samsung Galaxy S21 series during the event. The new Galaxy S21 series looks to be consisting of three devices: the Samsung Galaxy S21, Samsung Galaxy S21+, and Samsung Galaxy S21Ultra.  

While we do know that we are also left with a whole lot of uncertainty surrounding the device. Many of us are wondering whether the Samsung Galaxy S21 Ultra comes with a Pen Stylus? Is Samsung providing charger without making any additional purchase?  

That said, we also know that Samsung does have a new generation of Galaxy Buds in store too with the rumoured Galaxy Buds Pro and a new product called the Galaxy Tags. While the latter seems to be a simple NFC tag, the Buds Pro brings a new design approach and new features to the growing Galaxy Buds line up.   

We’ll have coverage of the big news coming out of Samsung’s Unpacked event. So, do stay tuned! 

AsiaPay partners with Zip for buy-now-pay-later payment


SYDNEY, Jan. 5, 2021 — AsiaPay, the leading digital payment service and technology player in Asia, is pleased to offer merchants in Australia the ability to accept digital mobile wallet payment via Zip, with a simple, secure, and private way to pay that’s fast and convenient.

Zip is a leading player in the digital retail finance and payments industry, offering point-of-sales credit and digital payment solutions. Zip is focused on offering transparent, responsible and fairly priced solutions to consumer’s and SME’s.

This relationship allows AsiaPay to provide a holistic integrated digital payment processing service for eCommerce and digital merchants across Australia. Zip users will experience increased acceptance at these merchants in the local markets, providing consumers with a "buy now and pay later" installment service for their ePurchases by offering Zip as an alternative payment option.

"This strategic agreement will bring more flexible payment methods and excellent consumer experience to customers," said Joseph Chan, CEO of AsiaPay. "In this new era of digital globalization, digital innovation and disruption change the way we live and do business. There is continued merchant demand for a complete integrated payment acceptance solution across prevailing payment methods to optimize sales conversion and better serve the customers globally especially in digital channel payments. We are honored to work with Zip to provide its users with greater payment convenience and acceptance at digital merchants of AsiaPay throughout Asia.”

About AsiaPay

Founded in 2000, AsiaPay, a premier electronic payment service, and technology player strive to bring advanced, secure, integrated, and cost-effective electronic payment processing solutions and services to banks, corporate and e-Businesses in the worldwide market, covering an array of international credit card, debit card, prepaid card, netbanking, eWallet, and QR, as well as cash collection.

AsiaPay is an accredited payment processor and payment gateway solution vendor for banks certified ISO and PF for serving merchants, certified international 3-D Secure vendors for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel, together with its advanced fraud detection, payment analytic, and management solutions.

Headquartered in Hong Kong, AsiaPay offers its professional ePayment solution consultancy and quality local service support across its other 15 offices in Asia including Australia, New Zeland, Thailand, Philippines, Singapore, Malaysia, Mainland China, Taiwan, Vietnam, Indonesia and India. For more information, please visit www.asiapay.com.au and www.paydollar.com.au

About Zip

Zip is a safe, simple and interest-free account, offering you the ability to buy now and pay later, on your terms. Zip is ASX listed under Zip Co Limited (ASX: Z1P), with head office operations based in Sydney, Australia. Our mission is to make finance fairer for everyone. For more information, please visit https://zip.co/

Related Links :

http://www.asiapay.com.au

Tukatech Offers New Year Gift For First Time Users

ONE Free Month use of any Tukatech software system

LOS ANGELES, Jan. 5, 2021 — With the growing popularity of Tukatech’s subscription and web-based services portal, TUKAweb has made many new updates to the site including the shift of software subscriptions to a convenient monthly auto-renewal model. Subscribers will no longer have to pay in advance for each month of use, but now they will be billed automatically until they cancel. This will ensure uninterrupted software access and continued flexibility for any duration needed to use the software.

As a New Year gift to the Industry, new subscribers will be able to try any software package free for 30 days, and receive access to online, self-paced software training courses via the Tuka Academy of Pattern Engineering (TAPE).

The new subscription model is available for all TUKAcad packages – including TUKA APM for automatic pattern making – and the TUKA3D Designer Edition software. Existing subscribers will finish out any time they have paid for under the previous model, then automatically transition to the auto-renewal model when they re-subscribe.

According to Chris Walia, Tukatech’s Chief Operations Officer, the fashion businesses who have switched from physical software keys or dongles tend to prefer the cloud-based license subscription. This has been an especially popular option during the pandemic, with many professionals needing to work remotely.

Walia says, "We see new TUKAcad and TUKA3D DE Visualizer subscribers every day. Software subscriptions in the apparel industry will be the norm, even after the pandemic."

TUKAgroup Founder and Chairman, Ram Sareen believes the software subscription model is the only way for the fashion industry technology sector to move forward. This model, he says, will reduce the barrier to entry for new fashion businesses, and give them access to technology that reduces their product development time. With his methods and recommended processes, apparel companies can save 50% or more on people and time.

The reason for the 30-day free software trial, Sareen explains is that he "Wanted to give a special gift to the industry and help them jump start using and learning digital solutions with little or no expenses from their end."

In addition to Tukatech software subscriptions, TUKAweb offers services for CAD data conversion, pattern making, grading, marker making, and 3D sample making. Users can also take advantage of the assets library, which is updated weekly with premade 2D patterns and 3D garments to use as fashion design templates for new styles.

To learn more and get started, visit www.tukaweb.com

About TUKAweb – TUKAweb is a hub of tools and services ideal for fashion entrepreneurs and students.  For more information about TUKAweb 3D sample making service as well as other services offered, visit www.tukaweb.com or email support@tukaweb.com

About Tukatech – Tukatech was founded in 1995 with the objective to have pattern makers create patterns digitally on the computer. On their silver anniversary, Tukatech is an influential fashion technology company known worldwide for innovative solutions and superior technical support. They are the industry’s leading provider of fashion software and machinery for product development, cloud collaboration, and garment manufacturing.

For more information visit: https://tukatech.com/

Logo – https://techent.tv/wp-content/uploads/2021/01/tukatech-offers-new-year-gift-for-first-time-users.jpg

Related Links :

Tukatech | Fashion Design Technology Software

TCL Brings Next Gen Mini-LED and Future Display Technologies to CES 2021

Under the Theme #ExperienceMore, TCL Showcases AI x IoT lifestyle with its newest display advancements and impressive multi-category offerings

HONG KONG, Jan. 5, 2021 — TCL Electronics (1070.HK), one of the dominant players in the global TV industry and a leading consumer electronics company, will start the year more determined than ever at CES 2021 with exciting announcements to fulfil its mission to make life intelligent through innovative, next generation Mini-LED technology.

Under the Theme #ExperienceMore, TCL Showcases AI x IoT lifestyle with its newest display advancements and impressive multi-category offerings.
Under the Theme #ExperienceMore, TCL Showcases AI x IoT lifestyle with its newest display advancements and impressive multi-category offerings.

"TCL is proud to be at CES 2021 and a member of this vibrant industry. As one of the leading consumer electronics brands in the world, and second largest TV brand in America, it is our mission to make life intelligent with innovative technology through our AIxIoT strategy. Moving forward we are committed to providing the best smart products and services to global users," said Kevin Wang, CEO of TCL Industrial Holdings and TCL Electronics.

This year’s event will be the first-ever ‘digital CES’, which demonstrates the resilience and global unity that is keeping us all moving forward, despite the challenges that 2020 brought to the world.

TCL will join multiple sessions at CES 2021, including the Global Press Announcement, and share its very newest technologies for displays as well as presenting a full range of smart home appliances to users to Experience More.

Best known for Mini-LED and QLED TVs, award-winning soundbars, smart home appliances and popular mobile devices driven by the on-going AIxIoT strategy, TCL continues to improve and push the boundaries of possibilities for display and audio technology.

On January 11 at the CES 2021 Global Press Announcement, TCL will showcase its much-anticipated innovations in Mini-LED and future display technologies, which is expected to draw attention and interest from both media and the consumer electronics industry.

 The details of our participation at CES 2021 are as follows:

*All sessions will be posted at https://www.tcl.com/ces2021.html

# Time and date of American Eastern Time (UTC-5)

Global Press Announcement

Time: 11:00-11:30 AM
Date: January 11th, 2021

North American Product Spotlight

Time: 1:00-1:30 PM
Date: January 12th, 2021

Global Product Spotlight

Time: 7:30-8:00 AM
Date: January 13th, 2021

About TCL Electronics

TCL Electronics (1070.HK) is a fast-growing consumer electronics company and leading player in the global TV industry. Founded in 1981, it now operates in over 160 markets globally. According to OMDIA, TCL ranked global No.2 in TCL brand TV market share in Q2 2020. TCL specializes in the research, development and manufacturing of consumer electronics products ranging from TVs, audio and smart home appliances.

The Second Annual Award Ceremony for International Video Contest of My China Story held in Yantai


BEIJING, Jan. 4, 2021 — Nearing the end of 2020, an eventful year for most, China International Publishing Group (CIPG) hosts the My China Story award ceremony for excellent films created by foreigners both abroad and living in China. Content creators from around the world document their lives and experiences in China through filming short videos.

 

jwplayer.key=”3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=”
 

jwplayer(‘myplayer1’).setup({file: ‘https://www.youtube.com/watch?v=84QodFUB6hA’, image: ‘http://www.prnasia.com/video_capture/3236468_AE36468_1.jpg’, autostart:’false’, aspectratio: ’16:9′, stretching : ‘fill’, width: ‘600’, height: ‘338’});

 

The event begins with the screening event where guests gather to view 33 award-winning short films, getting the opportunity to view the "China Stories" experienced by other foreigners just like themselves.

After the screening, everyone headed upstairs to participate in the seminar, where several guests took the stage and shared ideas for improving how we document our experiences in or with China and how we go about sharing our stories with the world. At the seminar, video creator, Leo, from Germany, shares with us his first time in China nearly 40 years ago in 1984 and his reflections about life in China at that time. Father-son YouTube duo from the UK, Lee and Oli Barrett, also relate their experience filming and visiting the "enormous" Three Gorges Dam for the first time.

Downstairs, Liu Bianjing, a university student in China from Cameroon Africa, prepares to take the stage. He claims to be one of the best, if not the best, foreign singers of traditional Chinese Henan Opera; previously having won second prize on television competing against Chinese singers.

The grand prize is revealed by the host, awarding RMB30,000 to the first prize winner for their film about the magnificent annual gala performance and the tight-knit community of workers in a Chinese factory.

The video follows American host, Jack, who takes us through the ceremony showing us the most interesting, note-worthy highlights. We get a chance to talk to content creators and briefly hear exactly what it is they do in China that makes their own experience so unique.

Contact: Jack Klumpp
Tel: +8610-26538513
Email: jack_klumpp@yahoo.com

Blue Hat Announces Further Growth of Xunpusen Following Company’s Strategic Acquisition in 2020

Subsidiary Reported RMB30 million (USD $4.5 million) in First Four Months; Expects Additional Contracts in Early 2021

XIAMEN, China, Jan. 4, 2021 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced that the Company’s operating subsidiary, Xunpusen Technology Co., Ltd. ("Xunpusen"), generated approximately RMB30 million (approximately USD $4.5 million) in revenue in the first four months of operation.

Since its acquisition earlier this year, the Company has continued to develop and utilize Xunpusen’s mobile marketing and hosting expertise to both support and grow Blue Hat’s traditional mobile and gaming business while seeking new channels to expand the Company’s customer base and leverage relationships. 

Xunpusen recently signed a cooperation agreement with China Mobile Communications Group Guangdong Co., Ltd. ("China Mobile") for a series of telecom value-added service and Internet Data Center ("IDC") contracts. IDC is a place to host a group of hosting enterprises, merchants, or web servers, an infrastructure on which models of e-commerce operate securely, and a platform to support businesses and their business alliances in implementing value chain management for their distributors, suppliers and customers.

Specifically, these IDC agreements can enable larger companies to promote and sell products using Xunpusen’s expertise in message marketing and integrated solutions. Following the agreement with China Mobile, both companies have worked to secure agreements from larger multi-national companies in addition to Blue Hat’s existing product portfolio.

The Company believes that Xunpusen’s contribution to revenue could potentially be in excess of RMB100 Million (USD $15.6 million) on an annualized basis.

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are very pleased with the development of Xunpusen. Initially, our goal was to utilize direct marketing and sales techniques to further our relationships with larger companies and increase sales of Blue Hat’s core product portfolio. The deployment of 5G technology, coupled with the acceleration of mobile utilization throughout 2020 has also created opportunities in the internet data center business. We expect that the recent agreement with China Mobile will lead to further agreements due to the surge in data volume and the strong downstream demand. We will keep investors closely apprised of our progress."

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc.

In China

Adam Prior, Senior Vice President

Lucy Ma, Associate

(212) 836-9606

+86 10 5661 7012

aprior@equityny.com

lma@equityny.com

 

Related Links :

http://www.bluehatgroup.com

CLPS Incorporation Announces Chairman’s Letter to the Company’s Shareholders

HONG KONG, Jan. 4, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today released a letter to shareholders from the Chairman of the Company’s Board of Directors (the "Board"), the full text of which is provided below. All CLPS shareholders are encouraged to read it.

Dear Shareholders,

On behalf of the Board, I wish you a happy and safe new year!

In 2020, CLPS celebrated its 15th anniversary since its establishment. It was also a challenging year that forced most people to adopt to new realities. Despite this unprecedented year, we remained on track with our growth strategy such as global business expansion, continuous talent supply development, successful mergers and acquisitions, and technological innovation progress which further improved our operational efficiency.

Let us look back at the highlights of the Company’s performance in 2020.

1. Client Base and Revenue Growth

Despite macroeconomic effects during this period, CLPS has maintained double-digit annual revenue growth and its net income attributable to CLPS Incorporation’s shareholders has turned profitable. In fiscal 2020 financial results, the revenue increased by 37.7% to $89.4 million in the same period of the previous year. The revenues by geography were also improved. The year-over-year revenues generated from Singapore, Hong Kong, and Mainland China have increased by 191.8%, 56.6%, and 30.5%, respectively.

The gross profit increased by 31.0% to $31.1 million, and net income attributable to CLPS Incorporation’s shareholders was $2.9 million, or $0.20 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation’s shareholders of $3.3 million, or $0.24 basic and diluted losses per share in the prior year period. Non-GAAP net income attributable to CLPS Incorporation’s shareholders increased by 85.3% to $6.9 million.

In 2020, CLPS gained more overseas and domestic clients and project-based contracts from the financial services and IT industries.

In IT consulting services, CLPS increased its client-base in international banks, credit card, trust, futures, payment system, internet services, e-commerce, smart logistics, intelligent vehicle, and semiconductor, among other industry. In November 2020, CLPS won the IT services provider bid for a well-known bank card processing services company in China.

In customized IT solution services, CLPS actively explored new business opportunities with its existing clients. It recently signed a deal with a leading Chinese state-owned automotive company for big data-enabled vehicle intelligent manufacturing system project.

2. Talent Supply

As CLPS’s edge among other competitors in the IT services market, we have been able to develop and maintain the talent supply chain in order to meet the demand of our clients.

CLPS has been cooperating with the Technological and Higher Education Institute of Hong Kong ("THEi") to boost its degree program in information technology. In addition, we established the Cooperative Education on Information Technology Program ("Coop Program") in partnership with Hong Kong Multimedia Design Association ("HKMMDA"), a non-profit organization in Hong Kong, in which more than 20% of the first batch of qualified trainees have been placed to local banks. 

Our achievements under the Talent Creation Program (TCP) and Talent Development Program (TDP) have been and will continue to be an important component in solving through the bottleneck of IT services market and talent supply shortage. Our talent programs are among the important drivers of the Company’s business growth in the international and domestic markets.

3. Research and Development Efforts

CLPS renamed its research center, the CLPS Research, to CLPS Innovation Lab. It has been dedicated to the research and application of innovative technologies, including distributed application systems, cloud computing, micro services, open API, robotic process automation (RPA), and big data, among other technologies. CLPS Innovation Lab focuses on continuous scientific and technological innovation to provide clients with more comprehensive and efficient IT services.

In the past year, we implemented RPA and big data into our internal human resources, financial, and operational management systems, which significantly improved the Company’s overall operation. In addition, CLPS’s recruitment center in the Mainland China launched in early 2020 is equipped with advanced technologies, such as cloud platforms, big data, and RPA to accelerate the talent acquisition process, thereby reducing operational cost.

CLPS’s RPA has supported its clients’ digital transformation, including the successful distribution into the application scenarios in the accounting, credit investigation, procurement, and logistics, among other processes for some large state-owned and pharmaceutical enterprises. As a result of RPA achievements, we have received positive feedback from our clients.

4. Streamlined Organizational Structure

CLPS has streamlined its corporate governance and organizational structure to better implement its global expansion strategy.

CLPS relocated its global corporate headquarters to Hong Kong, and set up Shanghai and Singapore as its regional headquarters in the Mainland China and Southeast Asia, respectively. We also set up our California subsidiary and expanded the fintech business development services opportunities in the Asia-Pacific and the US markets following the international business standards and services.

With more than ten years of experience in the credit card service industry, we set up a wholly-owned subsidiary, Qinson Credit Card Services Limited ("QCC"), to cater to the credit card service demands of the financial industry. In one-year period, QCC has attained its stature in the credit card industry, and it continuously develops more business opportunity. At present, its client base consists of well-known international and large banks, bank card associations, and international financial IT companies.

5. Mergers and Acquisitions

CLPS continued to advance its mergers and acquisitions efforts in Mainland China and globally. We recently acquired the remaining 20% ownership stake in Ridik Pte. Ltd. ("Ridik"). As a wholly owned subsidiary, Ridik will enable us to fully integrate our business in the Southeast Asia region and to further advance our business expansion in the global market.

In Mainland China, we invested in Shenzhen Huaqin Robotics and Guangdong Zhichuang Software Technology to diversify our service offerings in robotics, semiconductor, and other industries. Our investment initiatives will put us in a position to expand our business overseas and to better serve our clients going forward.

The COVID-19 outbreak has brought significant impact to the global economy. However, it accelerated the digitization and informatization of traditional industries. Post-pandemic, it is forecasted that majority of enterprises will pivot to technology platforms and will venture on digital transformation. In 2021, we expect growing demand for global financial IT services and solutions, as well as for IT talents in cutting-edge technology domain such as artificial intelligence (AI), blockchain, big data, and cloud applications.

Looking forward to 2021, we are dedicated to investing for resources based on our expertise in financial IT services and solutions in China and globally, advancing our competitive advantage, reaching global market business opportunity, and providing efficient IT services to our existing and potential clients. Our streamlined technological and management innovations will drive the Company to achieve higher quality development and bring long-term value to our shareholders. On behalf of the CLPS family, I extend my gratitude to our shareholders’ unwavering support and confidence in the Company. We hope all of you to stay healthy and safe during these challenging times.

With sincerity and determination,

Xiao Feng Yang
Chairman of the Board
CLPS Incorporation

 

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 sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, 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, Australia, and India. For further information regarding the Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on FacebookLinkedIn, and Twitter.

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, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by 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 financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, 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
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

Related Links :

http://www.clps.com.cn

Yuanyuan’s Adventure Episode III: Taiwan Reunification

BEIJING, Jan. 4, 2021 — A news report by China.org.cn:

 

In the Kangxi period of the Qing Dynasty, the Zheng family, which was headed by the descendants of Zheng Chenggong, ruled Taiwan, and contended with the Qing government. Despite several rounds of peace negotiations, no agreement was reached. In order to calm the civil strife, Emperor Kangxi sent Shi Lang to lead an army to Taiwan in 1683, which led to the reunification of Taiwan and the Chinese mainland.

The following year, a government was set up in Taiwan, which was under the jurisdiction of Fujian province. Under the governance of the Qing government, a large number of residents from the Chinese mainland moved to Taiwan and settled here. Gradually, Taiwan transformed itself from a society of migrants to a unified one governed by intellectuals. Over time, the local ethnic minority groups in Taiwan and the Han people also became more integrated.

As the gateway to the southeast coast of the Chinese mainland, Taiwan has always been targeted by Western powers. When the Opium War gripped China in 1840, the fate of Taiwan once again changed.  The wild ambition of imperialist powers like Britain, the United States, Japan, and France came to light and Taiwan was invaded many times. The frequent attacks by the foreign invaders made the Qing government aware of the importance of Taiwan in its national defense, and begin to adjust its governance strategy.

In 1885, Taiwan was upgraded to become the 20th province of China. Liu Mingchuan became the first governor of Taiwan and quickly implemented a series of new development policies. Taiwan spared no effort in building forts, constructing railways, setting up a network of electrical wires, and opening coal mines. Taiwan gradually embarked on the road to modernization, and at that time, development on the island was far ahead that on the Chinese mainland.

However, the Sino-Japanese War broke out in 1894, and Taiwan’s fate was once again rewritten.

"Fate diverges and is unpredictable." What would Taiwan go through in its next stage? Stay tuned for our next episode, and I’ll tell you more!

Yuanyuan’s Adventure Episode III: Taiwan Reunification
http://news.china.com.cn/txt/2021-01/04/content_77076603.htm