CLPS Inc. (CLPS) stock prices were up by 8.04% shortly after market trading commenced on October 28th, 2021. This brought the price per share up to USD$3.36 early on in the trading day.
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CLPS Stock’s Collaboration
October 28th, 2021 saw CLPS stock announce that JAJI Co. Ltd., its wholly-owned subsidiary, had entered into a framework agreement. The agreement was signed with an emerging Chinese high-end intelligent pure electric car brand and will facilitate the provision of end-to-end IT consulting services for its newly launched electric vehicles. The client is a new contender in the electric vehicle market, having been founded by a leading Chinese state-owned automotive company. The partnering company is committed to the development of a high-end intelligent electric sedan and SUV, of which its flagship model is scheduled for mass-production by the end of 2021.
Details of the Arrangement
As per the agreement, CLPS stock will provide a full range of IT consulting services involving technology-powered components and applications for the partnering client’s first and subsequent electric vehicles. These services include but are not limited to, electric operating systems and car owner community operation, as well as others. Furthermore, the collaborative parties have agreed to jointly facilitate the promotion of a revolutionized driving experience in the pinnacle of intelligent area.
Capitalizing on Foray into EV Sector
Automotive is one of CLPS stock’s four key business segments which have shown considerable progress over the course of recent years, from both business development and financial perspective. The collaboration is a major milestone for the company in the domestic automotive market, reflecting its success in pursuing opportunities within the intelligent vehicle market.
Furthermore, CLPS stock’s collaboration with its strategic partner will facilitate the additional integration of its core services into the automotive intelligent industry’s research and development and manufacturing. The partnership will also result in the expansion of opportunities available to the company for innovative applications with the market sector.
Future Outlook for CLPS Stock
CLPS stock is poised to capitalize on the new doors to profitability opened to it as a result of its most recent partnership. The company is keen to maintain the momentum it has generated over recent quarters in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.