CLPS Stock Rises 7% on Innovation Lab Upgrade

Anthony Russo
    Jan 03, 2020 1:00 PM  PT
CLPS Stock Rises 7% on Innovation Lab Upgrade
author: Anthony Russo   

CLPS Inc. (Nasdaq: CLPS) announced on Friday that it has renamed its research center to CLPS Innovation Lab to better represent its information technology (IT) services, sending its stock soaring 7% to $4.90 per American depositary share.

The Shanghai-based company said in a statement today that its lab will aim to deliver innovative technology, including distributed application systems, cloud computing, micro services, open API, robotic process automation (RPA), blockchain and big data.

"CLPS Innovation Lab adheres to our strategy of promoting our products and solutions based on new technology and new research, application innovations, and our leading talent pool, while improving our technological innovation capability and market competitiveness. As the center of our research and development efforts, it will continue to be one of the most important drivers of CLPS's growth," Henry Li, the chief operating officer of CLPS, said in the statement.

Raymond Lin, the co-founder and chief executive officer of CLPS, told CapitalWatch last month that it was planning to open a San Francisco location, starting with 10 employees.

CLPS now operates 18 delivery research and development centers in mainland China and globally.