CLPS Incorporation

Hello everyone and welcome to the second half and full year fiscal 2020 earnings conference call for CLPS Incorporation. Please note that today's conference is being recorded. At this time I would like to turn the call over to Mr. Rhon Galicha, CLPS Investor Relations for opening remarks and introductions. Please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining us on today's call. CLPS Incorporation announced its second half and full year fiscal 2020 financial results yesterday. Their new release is now available on the company's IR website at www.ir.clpsglobal.com. Before we continue, please note that our discussions today may include forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. forward-looking statements involve a number of risks and certainties. As such, our results may be materially different from the views expressed today. Further information regarding these risks, uncertainties, assumptions, and other factors that could affect our financial results is included in our Form 20-F filed with the U.S. Securities and Exchange Commission and other documents filed with the U.S. SEC. In that respect, I would like to read the following disclaimer applicable to such statements. Part of the statements made in this discussion 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 the future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressedly qualified in their entirety by discretionary notice including without limitations 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 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 remain. All information provided today is of the date of this call. and COPS does not undertake any obligation to update any forward-looking statement, except as required under applicable law. With respect to any non-GAAP measures discussed during today's call, the company reconciliation information related to those measures can be found in the earnings relief issued yesterday. Now, allow me to introduce the management team on the call today. Mr. Raymond Lin, Chief Executive Officer and Director of COPS, will start off the call with a review of recent company developments and operating results, followed by Ms. Rui Yang, Acting Chief Financial Officer of CLPS, who will discuss financial results in more detail. Please note that all lines have been placed on mute to prevent background noise. Following management's prepared remarks, we will open up the call for a Q&A session. Mr. Henry Lee, the company's Chief Operating Officer, and Mr. Wilson Wong, Executive Vice President of CLPS will also join the Q&A session. With that said, I would now like to turn the call over to Raymond. Raymond, please go ahead.

Yes. Hello. Thank you, Ron. Hello, everyone. I want to say thank you for being here for today's call. We are pleased to have you join us for a discussion. of our second half and full year FASO 2020 results. We are pleased to conclude our FASO 2020 with a solid result. Following the success of our dual entry growth strategy, we increased revenue. We surpassed our guidance with a 37.7% increase FASO year 2020 revenue. due to our close relationship with existing clients and the addition of international and domestic clients as a result of the successful implementation of our global expansion strategy. As a part of our horizontal growth strategy, we further expanded our footprint in the Southeast Asia region with acquisition of RIDIC. that is a Singapore based IT service company, which we integrate along with Infogames into CLPS Singapore. In addition, we have established CLPS California, which focuses on the US market to support the company business score. Plus credit card services in one of our core competencies, CRPS established Pinson Credit Card Service Company in Hong Kong to cater to the increasing demand for credit card service in the financial industry. Revenue from our overseas services increased by 158.5% to $10.6 million for the year end June 13, 2020. Regulatory, our innovation lab, the company research and development center is committed to the research and application of innovation technologies, which enable digital transformation for ourselves and our clients. We have tested and piloted cutting edge technologies, including the cloud migration, Robotics Process Automation, Big Data, and Blockchain. This fiscal year, we boost our globally competitive business growth in industry for operation with investment. Our partnership with an established financial IT company in China mutually benefits us as we leverage each other Starting Edge Innovation and Resources in Financial Technologies Industry. In terms of strategy investments, we have each invested a 10% ownership stake in Shenzhen Huaqing Robotics Company and Guangdong Zhicuang Software Technology Company to diversify our business industry Our IT talent pivotal role is our success. Through our TCP and GDP talent training program, we continue to focus on conducting thousands of training hours to develop our talent and retrain our human capital. We have also cooperated with the Technological and Higher Education Institute of Hong Kong to boost its degree program in information technology, aiming to maintain a sustainable pool of new recruits and young talent in IT. Despite the recent COVID-19 pandemic, TLPS's growth strategy remains unaffected. With reference to our FASO 2020 financial outlook, we surpassed our project sales score with an increasing of 37.7% and have achieved a profitable net income. In addition, we enhance support for our clients in the healthcare industry and we are equipped to meet the golfing service demand during this challenging time. As we continue to make long-term investments to support our continued golf, we remain optimistic about our future as we go horizontally and vertically to expand our global footprint and market share. focus on digital transformation and create value for our shareholders. Now, I will turn the call to over the acting CFO, Rui Yang, who is to discuss our financial results from the second half and full year of Racial 2020. Rui, please go ahead.