| ORGANIZATION AND DESCRIPTION OF BUSINESS |
NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS CLPS Incorporation (“CLPS” or the “Company”), is a company that was established under the laws of the Cayman Islands on May 11, 2017, as a holding company. The Company, through its subsidiaries, designs, builds, and delivers IT services, solutions, product services and academic education services. The Company customizes its services to specific industries with customer service teams typically based on-site at the customer locations. The Company’s solutions enable its clients to meet the changing demands in an increasingly global, internet-driven, and competitive marketplace. Mr. Xiao Feng Yang, the Company’s Chairman of the Board, together with Mr. Raymond Ming Hui Lin, the Company’s Chief Executive Officer (“CEO”) are the controlling shareholders of the Company (the “controlling shareholder”). On June 8, 2018, the Company completed its initial public offering (“IPO”) on the Nasdaq Capital Market. Details of the significant subsidiaries of the Company are set out below: | Name of Entity | | Date of Incorporation/
Acquisition | | Place of
Incorporation | | Percentage of
Equity
Ownership | | | Principal
Activities | | Qiner Co., Limited (“Qiner”) | | Incorporated on
April 21, 2017 | | Hong Kong, China | | | 100 | % | | Holding Company | | Qinheng Co., Limited (“Qinheng”) | | Incorporated on
June 9, 2017 | | Hong Kong, China | | | 100 | % | | Holding Company | | Shanghai Qincheng Information Technology Co., Ltd. (“CLPS QC” or “WOFE”) | | Incorporated on
August 4, 2017 | | Shanghai, China | | | 100 | % | | Holding Company | | Shanghai Chenqin Information Technology Services Co., Ltd. | | Incorporated on
May 31, 2021 | | Shanghai, China | | | 100 | % | | Holding Company | | CLPS Shanghai Co., Ltd. (“CLPS Shanghai”, formerly ChinaLink Professional Service Co., Ltd.) | | Incorporated on
August 30, 2005 | | Shanghai, China | | | 100 | % | | Software development | | CLPS Dalian Co., Ltd. (“CLPS Dalian”) | | Incorporated on
May 25, 2011 | | Dalian, China | | | 100 | % | | Software development | | CLPS Beijing Hengtong Co., Ltd. (“CLPS Beijing”) | | Incorporated on
March 30, 2015 | | Beijing, China | | | 100 | % | | Software development | | CLPS Technology (Singapore) Pte. Ltd. (“CLPS SG”) | | Incorporated on
August 18, 2015 | | Singapore | | | 100 | % | | Software development | | CLPS Technology (Hong Kong) Co., Limited (“CLPS Hong Kong”) | | Incorporated on
January 7, 2016 | | Hong Kong, China | | | 100 | % | | Software development | | JAJI (Shanghai) Co., Ltd (“JAJI China”, formerly, Judge (Shanghai) Co., Ltd.) | | Acquired on
November 9, 2016 | | Shanghai, China | | | 60 | % | | Software development | | CLPS Shenzhen Co., Ltd. (“CLPS Shenzhen”) | | Incorporated on
April 7, 2017 | | Shenzhen, China | | | 100 | % | | Software development | | CLPS Guangzhou Co., Ltd. (“CLPS Guangzhou”) | | Incorporated on
September 27, 2017 | | Guangzhou, China | | | 100 | % | | Software development | | Name of Entity | | Date of Incorporation/
Acquisition | | Place of
Incorporation | | Percentage of
Equity
Ownership | | | Principal
Activities | CLPS Hangzhou Co. Ltd.
(“CLPS Hangzhou”) | | Incorporated on
July 31, 2019 | | Hangzhou, China | | | 100 | % | | Software development | CLPS Technology & Services Pte. Ltd. (“CLPS Tech Services”), formerly Ridik Pte. Ltd. | | Acquired on
September 26, 2019 | | Singapore | | | 100 | % | | Software development | | Ridik Software Solutions Pte. Ltd. (“Ridik Software Pte.”) | | Acquired on
September 26, 2019 | | Singapore | | | 100 | % | | Software development | | Qinson Credit Card Services Limited (“Qinson”) | | Incorporated on December 31, 2019 | | Hong Kong, China | | | 100 | % | | Software development | | CLPS Technology (California) Inc. (“CLPS California”) | | Incorporated on January 2, 2020 | | California, the United States of America | | | 100 | % | | Software development | | Hainan Qincheng Software Technology Co., Ltd. (“Hainan Qincheng”) | | Incorporated
On January 20, 2021 | | Hainan, China | | | 100 | % | | Software development | | CLPS Xi’an Co., Ltd. | | Incorporated
On April 15, 2021 | | Xi’an, China | | | 100 | % | | Software development | | College of Allied educators Pte. Ltd. (“CAE”) | | Acquired on
January 3, 2024 | | Singapore | | | 100 | % | | Academic education |
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