HONG KONG,Dec. 19,2024 -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS),today announced that its majority-owned subsidiary,JAJI Global Incorporation ("JAJI"),has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of JAJI's ordinary shares.

Following the offering,CLPS expects to hold a significant voting interest in JAJI along with a corresponding economic interest in its subsidiaries. The number of shares to be offered and the price range for the offering have not yet been determined. JAJI intends to list its common stock on The Nasdaq Capital Market.

This IPO marks a significant milestone in JAJI's development and is expected to provide strong financial support for its future expansion and technological innovation.

JAJI specializes in providing information technology (IT) services to the automotive and securities industries. With advanced technology and strong market position,JAJI has achieved significant industry accomplishments. In addition to IT and business management consulting services,as well as customized IT solutions,JAJI has developed a range of proprietary IT products. As market demand continues to grow,JAJI plans to enhance its market competitiveness through this IPO and advance its business goals.

According to the F-1,JAJI currently has a total share capital of 10,000,000 shares,of which CLPS holds 60%. The funds raised from this IPO will primarily be used for product development,mergers and acquisitions,global expansion,and company operations to drive JAJI's sustained growth.

Aegis Capital Corp.,will be acting as the sole underwriter and book-runner for the proposed offering.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is being made pursuant to,and in accordance with,Rule 134 under the Securities Act of 1933,as amended (the "Securities Act"),and shall not constitute an offer to sell or the solicitation of an offer to buy,nor shall there be any sale of these securities in any Internal state or jurisdiction in which such offer,solicitation,or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers,solicitations or offers to buy,or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

Mr. Raymond Lin,Chief Executive Officer of CLPS,stated,"We are immensely proud of JAJI as it embarks on its journey to the Nasdaq market. We are confident that listing on Nasdaq will unlock JAJI's full potential for technological innovation and market expansion,delivering significant value to our shareholders."

Mr. Bryan Lam,Chief Executive Officer of JAJI,expressed,"We are thrilled about JAJI's IPO. This is not only an important milestone in our growth but also an opportunity to share the benefits of our success with investors. By going public,we will be able to strengthen our market position,attract top talents,and propel our long-term strategic goals forward."

About CLPS Incorporation

Headquartered in Hong Kong,CLPS Incorporation is a leading global information technology ("IT") consulting and solutions service provider,primarily focused on serving global institutions in the banking,wealth management,e-commerce,and automotive sectors. As an IT services provider for a growing network of clients within the fintech and financial services industry,CLPS has expanded its business beyond core IT services,venturing into the loan,academic education,and tourism sectors. Through its diversified offerings,CLPS is committed to providing comprehensive services and solutions for its clients. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai,Beijing,Dalian,Tianjin,Xi'an,Chengdu,Guangzhou,Shenzhen,Hangzhou,and Hainan. The remaining 9 global centers are located in Hong Kong SAR,USA,Japan,Singapore,Malaysia,India,Philippines,Canada,and UAE. For further information regarding the Company,please visit:https://ir.clpsglobal.com/,or follow CLPS onFacebook,Instagram,LinkedIn,X (formerly Twitter),andYouTube.

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

Rhon Galicha

Investor Relations Office

Phone: +86-182-2192-5378

Email:ir@clpsglobal.com