BEIJING, Oct. 18, 2025 /PRNewswire/ — Pintec Technology Holdings Limited (Nasdaq: PT) (“PINTEC” or the “Company”), a leading technology platform committed to enabling innovative financial and digital solutions for businesses worldwide, today announced that its subsidiary ZIITECH PTY LTD (“ZIITECH”) is proud to be part of the Australian delegation to participate in Tech Week Singapore 2025. This grand event has gathered over 7,000 professionals from leading organizations in the banking, finance, and technology industries, with a total of more than 26,000 attendees. This event serves as a crucial milestone for ZIITECH, marking a major step forward in forging connections between Australia’s most innovative technology companies like ZIITECH with Southeast Asia’s fast-growing digital economy.

As one of the leaders in point-of-sale (POS) innovation within the fintech sector, ZIITECH has officially launched its technology export strategy in the Asia-Pacific Economic Cooperation (APEC). Adhering to its mission of “empowering small and medium-sized enterprises (SMEs)”, ZIITECH leverages big data and artificial intelligence (AI) technologies to develop intelligent decision-making tools for enterprises. These tools help businesses optimize operational processes, reduce costs, and explore new growth opportunities, injecting strong impetus into the digital transformation of SMEs.

During the exhibition segment of Tech Week Singapore, ZIITECH publicly shared its vision of building an “open fintech ecosystem”. This ecosystem deeply integrates payment, data, and commercial services to create a seamless digital experience. It aims to break down the barriers between digital technology and the needs of the real economy, providing strong support for merchants and service providers to achieve smarter, more efficient, and more sustainable growth. Whether it is the payment upgrade needs of small retailers or the data-driven operation demands of medium-sized enterprises, customized solutions can be found within this ecosystem.

Notably, Victoria, is widely recognized as Australia’s leading tech hub and enjoys a prominent reputation in big data and AI innovation. Relying on this advantageous background, ZIITECH has always been at the forefront of promoting cross-border cooperation and technology exports. Its participation in Tech Week Singapore this time is not only a significant step for ZIITECH to expand into the Asia-Pacific market but also further strengthens its long-term vision: to make Australian innovative technology a globally trusted force, helping every SMEs make the right decision at the right time with the right tools and embark on a new chapter of digital growth.

In the future, ZIITECH will continue to take technological innovation as its core driving force, deepen cooperation with markets in the APEC region and around the world, and bring more high-quality technology solutions to the international stage, contributing tech strength to the development of SMEs worldwide.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Among other things, the quotations from management in this announcement, as well as Pintec’s strategic and operational plans, contain forward-looking statements. Pintec may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, the Company’s limited operating history, regulatory uncertainties relating to the markets and industries where the Company operates, and the need to further diversify its financial partners, the Company’s reliance on a limited number of business partners, the impact of current or future PRC laws or regulations on wealth management financial products, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Pintec

PINTEC is a Nasdaq-listed technology company dedicated to delivering innovative financial and digital solutions to micro, small, and medium enterprises worldwide. Through its open platform, PINTEC connects business partners and financial institutions, enabling them to provide efficient, technology-driven services to end users across international markets. By empowering partners with embedded financing capabilities and advanced digital tools, PINTEC helps businesses expand their offerings and supports financial institutions in reaching new customer segments in the digital economy. PINTEC continues to deliver exceptional digitization services, diversified financial products, and best-in-class solutions powered by cutting-edge technology, strengthening partnerships and meeting global client needs. For more information, please visit ir.Pintec.com.

AMT-116 is a potential first-in-class CD44v9-directed Topoisomerase I inhibitor-based ADC

AMT-116 demonstrated a favorable safety profile, with manageable hematologic and Gastrointestinal toxicities

Promising efficacies were observed in patients with heavily pretreated EGFR Wild-type NSCLC and other advanced solid tumors without CD44v9 pre-selection

SHANGHAI, Oct. 17, 2025 /PRNewswire/ — Multitude Therapeutics, Inc., a clinical-stage company focused on the development of antibody-drug-conjugate (ADC) drugs, today announced initial data from its ongoing phase I/II open-label, multicenter dose escalation and expansion study evaluating AMT-116, a CD44v9-directed ADC, in patients with EGFR wild-type NSCLC and other advanced solid tumors. The data are being presented on October 17th at the 2025 European Society for Medical Oncology (ESMO) Annual Meeting being held in Berlin, Germany.

Phase I/II clinical trials are being conducted across Australia, US and China. This first-in-human study will evaluate the Maximum Tolerated Dose (MTD) / the Recommended Phase II Dose (RP2D), safety, tolerability, anti-tumor activity, pharmacokinetics, pharmacodynamics and immunogenicity of AMT-116, in patients with advanced solid tumors. The Phase Ia portion will determine the recommended doses for expansion, and the Phase Ib/II portion will focus on further characterizing safety and efficacy in select tumor types.

As of July 17th, 2025, safety data are available for 164 patients who have received AMT-116 once every two weeks (Q2W) at doses ranging from 1.5 to 5.0 mg/kg. Primary tumor types are NSCLC, NPC (nasopharyngeal carcinoma), anal carcinoma and salivary gland cancer. In heavily pretreated EGFR Wild-type NSCLC patients, with prior lines of therapy ranging from 1-5, promising efficacy was observed regardless CD44v9 expression status. The overall response rate (ORR) was 40% (6/15), and the disease control rate (DCR) was 93% (14/15), in EGFR Wild-type NSCLC at dose levels >3 mg/kg. Among five EGFR Wild-type NSCLC patients at 5.0 mg/kg, ORR was 80% (4/5) and DCR was 100% (5/5). Preliminary antitumor activity was also observed in patients with NPC, anal carcinoma and salivary gland cancer at >3mg/kg, with ORRs of 50% (3/6), 60% (3/5) and 33% (2/6), respectively. Antitumor activity was observed across patients with varying levels of CD44v9 expression. The safety profile of AMT-116 was consistent with that of other Topoisomerase I inhibitor-based ADCs, with manageable hematologic toxicities as the most common treatment-related adverse events. Only low-grade and infrequent mucosal and skin toxicities were observed, demonstrating a favorable tolerability profile.

“We are excited by the impressive and durable efficacy shown in the early results of AMT-116, especially in unselected heavily pretreated EGFR Wild-type NSCLC and several other advanced solid tumors. The efficacies of AMT-116 observed so far are consistent with its broad tumor expression profile observed in preclinical studies, while the greatly reduced mucosal and skin toxicities reflect the desired outcome of a carefully selected linker-payload platform aimed at mitigating potential on-target toxicities from normal tissue expression. With these encouraging results, we are further expanding the clinically efficacious dose levels of 4 mg/kg Q2W and 5 mg/kg Q2W cohorts in select tumor types to explore the full potential of this novel ADC for greater patient benefit in NSCLC and beyond,” said Dr. Shu-Hui Liu, co-founder and CSO of Multitude Therapeutics.

Mini Oral Presentation Details:

Title: Updated ongoing Phase I/II clinical trial results of AMT-116, a first-in-class anti-CD44v9 antibody-drug conjugate (ADC), in patients with advanced solid tumors
Mini Oral Session Title: Developmental therapeutics
Date and Time: October 17th – 04:05 PM
Location: Heidelberg Auditorium – Hall 6.2
Presentation number: 922MO

About AMT-116
AMT-116, a CD44v9 ADC, is composed of a proprietary antibody with high CD44v9 binding affinity, a hydrolysable linker, and a belotecan derivative payload (a novel and clinically validated topoisomerase-1 inhibitor, named KL610023, collaborating with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (6990.HK)). CD44v9 is involved in broad biological pathways and has an implicated role in cancer stem cells. The target is a highly abundant protein and is overexpressed broadly in solid tumors with a restrictive normal tissue expression. AMT-116 has a drug-to-antibody ratio of 7-8. AMT-116 is being evaluated in a phase I/II study in patients with EGFR Wild-type NSCLC and other advanced solid tumors. Additional information on the Australia/US Phase I (NCT05725291) and China Phase I/II (NCT06782334) trials can be found at clinicaltrials.gov. 

About Multitude Therapeutics
Multitude Therapeutics is a clinical-stage company focused on the development of ADC drugs. Multitude Therapeutics has two technology platforms: MabArray™— an antibody platform for discovering novel cell surface tumor antigens to identify first-in-class targets, and T1000- exatecan — a new linker-payload technology for developing ADCs, which allows ADCs prepared with this platform to achieve a better balance of the bystander effect, efficacy, and safety. The combination of MabArray™ and T1000-exatecan generates significant synergistic effects, enabling Multitude Therapeutics to build an ADC “atlas” that is expected to treat malignant tumors with high unmet medical needs and achieve higher and more durable responses.

Based on the above technology platforms, Multitude Therapeutics currently has several ADCs in development, including three potential first-in-class target ADCs. Moreover, several ADCs, including all-new target ADCs, have entered the clinical stage, where they have demonstrated promising safety and efficacy and provided preliminary validation of the company’s platform technology. For further information, please visit www.multitudetherapeutics.info

GUANGZHOU, China, Oct. 17, 2025 /PRNewswire/ — News report from South.

In Fiji, Chinese fishing vessels are doing more than catching fish. They train local crews in advanced fishing techniques, sharing skills that go beyond the catch.

Every year, over a hundred Chinese vessels use Fiji as their base, offloading their catch, maintaining their vessels, and processing seafood locally. This not only creates jobs, but also fuels the growth of onshore supporting industries.

In this episode, South journalist Liu Xiaodi visits the Fiji base of a Chinese fisheries company and speaks with company and Fijian customs officials to see how China–Fiji fisheries cooperation is reeling in economic vitality for the island nation.

HONG KONG, Oct. 17, 2025 /PRNewswire/ — CLPS Incorporation (the “Company” or “CLPS”) (Nasdaq: CLPS), today announced its financial results for the six months and full year of fiscal 2025 ended June 30, 2025.

During this fiscal year, we faced a significant challenge when our long-standing and historically largest client announced a broad downsizing of its technology employee workforce within its China Solution Centers (CSCs) in Dalian and Shanghai, as part of its global restructuring strategy. As a result, this unprecedented strategic realignment required the dissolution of most of our dedicated IT staff serving the client. This action, while necessary, resulted in a significant increase in one-time employee severance expenses. Consequently, this non-recurring expense created unavoidable short-term pressure on our current period’s net income. After excluding all of the layoff compensation, our adjusted net income for the fiscal year 2025 was $78.0 thousand.

We are transforming this challenge into an opportunity to advance our strategic objectives. While sustaining organic growth, we are accelerating our strategic shift toward building a more resilient revenue framework. This involves pioneering new, high-value project work in artificial intelligence (AI) and Robotic Process Automation (RPA) while intensifying our efforts to expand our international market presence. We are confident that the positive impact of these transformative steps will materialize and become evident in our financial performance in subsequent reporting periods. CLPS will continue to focus on long-term value creation through diversification, technology innovation, and international growth.

Unaudited Second Half of Fiscal 2025 Highlights (all results compared to the six months ended June 30, 2024) 

• Revenue increased by 15.0% to $81.7 million from $71.0 million.
• Revenue from IT consulting services increased by 16.9% to $78.7 million from $67.3 million.
• Revenue generated outside of mainland China increased by 77.1% to $23.5 million from $13.3 million. In particular:

–  Revenue generated from Singapore increased by 96.1% to $12.4 million from $6.3 million.
–  Revenue generated from Hong Kong SAR increased by 99.9% to $8.0 million from $4.0 million.
–  Revenue generated from Japan increased by 174.6% to $1.1 million from $0.4 million.

Audited Fiscal Year 2025 Highlights (all results compared to the twelve months ended June 30, 2024) 

• Revenue increased by 15.2% to $164.5 million from $142.8 million.
• Revenue from IT consulting services increased by 16.0% to $158.8 million from $136.8 million.
• Revenue generated outside of mainland China increased by 90.5% to $42.5 million from $22.3 million. In particular:

–  Revenue generated from Singapore increased by 99.2% to $21.9 million from $11.0 million.
–  Revenue generated from Hong Kong SAR increased by 130.5% to $14.4 million from $6.2 million.
–  Revenue generated from Japan increased by 253.2% to $2.0 million from $0.6 million.

• Gross profit increased by 10.2% to $36.3 million from $32.9 million.
• Accounts receivable turnover period improved to 92 days, down from 111 days.
• Total number of clients from IT services segment increased by 6.3% to 319 from 300.
• Total number of employees increased by 6.3% to 3,534 from 3,325.

Mr. Raymond Lin, Chief Executive Officer of CLPS, commented, “The past fiscal year demonstrated meaningful progress in building a more resilient and diversified business model. A key achievement was the significant reduction in client concentration risk, evidenced by the strategic push for global expansion which yielded substantial results. Overseas revenue grew 90.5% to $42.5 million, with the APAC region being a primary driver of this growth. The successful establishment of operations in key regional markets, including Indonesia and Canada, which has begun generating revenue, alongside our presence in Dubai, underscores a strategic pivot towards high-growth international territories. Our expanding global footprint not only contributed to this growth but also positions the Company for a more globally improved revenue stream in the future, mitigating regional economic fluctuations.

Navigating the operational and financial impact of the major client’s global restructuring strategy was one of the central challenges of this fiscal year. It required a careful realignment of resources while simultaneously supporting growth from other existing and new clients. In parallel, we made pivotal investments in our future by advancing our proprietary RPA product Nibot, and AI solutions. These technological developments, which moved into real-world applications, represent a critical long-term asset. As we celebrate our 20th anniversary, these investments underscore a commitment to evolving our service offerings beyond our IT consulting services towards higher-value, IP-driven solutions.”

Ms. Rui Yang, Chief Financial Officer of CLPS, commented, “The fiscal 2025 financial performance reflects a dual reality: achieving robust top-line growth while actively navigating the impact of unforeseen, non-recurring challenges.

Our operations outside Mainland China strongly validated our global expansion strategy, demonstrating impressive growth momentum. Specifically, during this fiscal year, our key international markets in APAC—Singapore, Hong Kong SAR, and Japan—recorded substantial year-over-year growth rates of 99.2%, 130.5%, and 253.2%, respectively. Furthermore, our focus on working capital management yielded positive results, with accounts receivable turnover days improving from 111 days in the previous fiscal year to 92 days.

However, the unexpected restructuring of CSCs in Dalian and Shanghai by our significant client resulted in material one-time severance expenses due to corresponding workforce reduction. This placed inevitable short-term pressure on our net income.

Moving forward, we are proactively addressing this challenge by accelerating the diversification of our revenue streams. For instance, with the market launch of Nibot, and further advancements in AI, we anticipate increased revenue generation from customized IT solutions segment, which will substantially reduce our reliance on any single client. Moreover, CLPS’s diversified presence across sectors such as education and tourism, and continuous acquisition of new clients, will further mitigate this risk. We remain deeply committed to maintaining stringent financial discipline while simultaneously supporting initiatives that enhance CLPS’s long-term competitive advantage and shareholder value.”

Unaudited Second Half of Fiscal Year 2025 Financial Results

Revenues

In the second half of fiscal 2025, revenues increased by $10.7 million, or 15.0%, to $81.7 million from $71.0 million in the prior year period. The increase in revenue was mainly due to the increased demand in IT consulting services.

Revenues by Service

• Revenue from IT consulting services increased by $11.4 million, or 16.9%, to $78.7 million in the second half of fiscal 2025, from $67.3 million in the prior year period. Revenue from IT consulting services accounted for 96.3% of total revenue, compared to 94.8% in the prior year period. The increase was due to the increased demand from existing and new clients.
• Revenue from customized IT solution services decreased by $0.1 million, or 4.7%, to $1.8 million in the second half of fiscal 2025, from $1.9 million in the prior year period. Revenue from customized IT solution services accounted for 2.2% of total revenue, compared to 2.7% in the prior year period. The decrease was primarily due to the decreased demand from existing clients. In response, we are actively pursuing new client acquisition and identifying emerging market needs, with an expectation for this segment to resume growth in the next fiscal year.
• Revenue from academic education services decreased by $0.08 million, or 7.8%, to $0.96 million in the second half of fiscal 2025, from $1.04 million in the prior year period. Revenue from academic education services accounted for 1.2% of total revenue, compared to 1.5% in the prior year period. The decrease was primarily attributable to resource integration following the acquisition of the College of Allied Educators (CAE). Looking ahead, we are focused on generating new momentum by launching innovative courses for CAE to boost enrollment and drive segment revenue growth.
• Revenue from other services decreased by $0.5 million, or 71.1%, to $0.2 million in the second half of fiscal 2025, from $0.7 million in the prior year period. Revenue from other services accounted for 0.3% of total revenue, compared to 1.0% in the prior year period. The decrease was primarily due to the decreased demand for other services, including head hunting service.

Revenues by Operational Areas

• Revenue from banking area increased by $1.9 million, or 6.6%, to $30.6 million in the second half of fiscal 2025, from $28.7 million in the prior year period. Revenue from banking area accounted for 37.5% and 40.3% of total revenues in the second half of fiscal 2025 and 2024, respectively.
• Revenue from wealth management area decreased by $3.1 million, or 18.4%, to $13.9 million in the second half of fiscal 2025, from $17.0 million in the prior year period. Revenue from wealth management area accounted for 17.0% and 23.9% of total revenues in the second half of fiscal 2025 and 2024, respectively.
• Revenue from e-Commerce area increased by $4.7 million, or 46.1%, to $14.9 million in the second half of fiscal 2025, from $10.2 million in the prior year period. Revenue from e-Commerce area accounted for 18.2% and 14.3% of total revenues in the second half of fiscal 2025 and 2024, respectively.
• Revenue from automotive area increased by $4.6 million, or 65.6%, to $11.6 million in the second half of fiscal 2025, from $7.0 million in the prior year period. Revenue from automotive area accounted for 14.3% and 9.9% of total revenues in the second half of fiscal 2025 and 2024, respectively.

Revenues by Geography

• Revenue generated outside of mainland China increased by 77.1% to $23.5 million in the second half of fiscal year 2025, from $13.3 million in the prior year period. The increase was primarily due to strong performance of our operations in Singapore, Hong Kong SAR and Japan, reflecting the Company’s successful and continuous implementation of its global expansion strategy.

Gross Profit

Gross profit decreased by $46.5 thousand, or 0.3%, to $17.15 million in the second half of fiscal 2025, from $17.20 million in the prior year period.

Operating Expenses

Selling and marketing expenses increased by $0.9 million, or 47.5%, to $2.7 million in the second half of fiscal 2025, from $1.8 million in the prior year period. As a percentage of total revenues, selling and marketing expenses increased to 3.3% in the second half of fiscal 2025, compared to 2.6% in the prior year period. The increase was primarily due to an increase in sales staff to capture business growth opportunities.

Research and development expenses decreased by $1.5 million, or 36.0%, to $2.5 million in the second half of fiscal 2025, from $4.0 million in the prior year period. As a percentage of total revenues, research and development expenses decreased to 3.1% in the second half of fiscal 2025, compared to 5.6% in the prior year period. The decrease was primarily due to the redeployment of R&D staff to deliver customized IT solutions, resulting in a reclassification of these expenses as cost of revenues.

General and administrative expenses increased by $3.8 million, or 27.3%, to $17.7 million in the second half of fiscal 2025, from $13.9 million in the prior year period. As a percentage of total revenues, general and administrative expenses increased to 21.7% in the second half of fiscal 2025, compared to 19.6% in the prior year period. This increase was primarily due to the recognition of significant one-time employee severance costs, which were triggered by a major client’s global restructuring strategy. After excluding all of the layoff compensation, our general and administrative expenses increased by 0.3% compared to the prior-year period.

Operating Loss

Operating loss was $5.5 million in the second half of fiscal 2025, compared to operating loss of $1.6 million in the same period of the previous year. Operating margin was -6.8% compared to -2.3% in the prior year period.

Other Income and Expenses

Total other income, net of other expenses was $87.5 thousand in the second half of fiscal 2025, compared to $0.6 million total other income, net of other expenses in the same period of previous year.

Provision (Benefit) for Income Taxes

Provision for income taxes was $0.7 million in the second half of fiscal 2025, compared to a benefit for income taxes of $0.2 million in the same period of the previous year.

Net Loss and Losses Per Share

Net loss was $6.6 million in the second half of fiscal 2025, compared to a net loss of $0.9 million in the prior year period.

Non-GAAP net loss^[1] was $6.1 million in the second half of fiscal 2025, compared to a Non-GAAP net loss of $0.4 million in the prior year period.

Net loss attributable to CLPS Incorporation’s shareholders was $6.7 million, or $0.24 basic and diluted losses per share in the second half of fiscal 2025, compared to a net loss attributable to CLPS Incorporation’s shareholders of $0.8 million, or $0.03 basic and diluted losses per share in the second half of fiscal 2024.

Non-GAAP net loss attributable to CLPS Incorporation’s shareholders^[2] was $6.2 million, or $0.22 basic and diluted losses per share in the second half of fiscal 2024, compared to non-GAAP net loss attributable to CLPS Incorporation’s shareholders of $0.4 million, or $0.02 basic and diluted losses per share in the second half of fiscal 2024.

Audited Fiscal Year 2025 Financial Results

Revenues

Revenues increased by $21.7 million, or 15.2%, to $164.5 million in the fiscal year 2025, from $142.8 million in the prior year period. The increase in revenue was mainly due to the increased demand in IT consulting services.

Revenues by Service

• Revenue from IT consulting services increased by $22.0 million, or 16.0%, to $158.8 million in the fiscal year 2025, from $136.8 million in the prior year period. Revenue from IT consulting services accounted for 96.5% of total revenue, compared to 95.8% in the prior year period. The increase was due to the increased demand from existing and new clients.
• Revenue from customized IT solution services decreased by $0.3 million, or 11.6%, to $2.8 million in the fiscal year 2025, from $3.1 million in the prior year period. Revenue from customized IT solution services accounted for 1.7% of total revenue, compared to 2.2% in the prior year period. The decrease was primarily due to the decreased demand from existing clients. In response, we are actively pursuing new client acquisition and identifying emerging market needs, with an expectation for this segment to resume growth in the next fiscal year.
• Revenue from academic education services increased by $1.0 million, or 96.3%, to $2.0 million in the fiscal year 2025, from $1.0 million in the prior year period. Revenue from academic education services accounted for 1.2% of total revenue, compared to 0.7% in the prior year period. The increase was primarily due the full-year consolidation of results from academic education services. As the acquisition of CAE closed in the second half of fiscal 2024, the prior year period only included approximately six months of its operating revenue.
• Revenue from other services decreased by $0.9 million, or 49.7%, to $0.9 million in the fiscal year 2025, from $1.8 million in the prior year period. Revenue from other services accounted for 0.5% of total revenue, compared to 1.2% in the prior year period. The decrease was primarily due to the decreased demand for other services, including software sales.

Revenues by Operational Areas

• Revenue from banking area increased by $6.9 million, or 12.1%, to $64.1 million in the fiscal year 2025, from $57.2 million in the prior year period. Revenue from banking area accounted for 39.0% and 40.0% of total revenues in the fiscal year 2025 and 2024, respectively.
• Revenue from wealth management area decreased by $6.3 million, or 17.8%, to $29.3 million in the fiscal year 2025, from $35.6 million in the prior year period. Revenue from wealth management area accounted for 17.8% and 24.9% of total revenues in the fiscal year 2025 and 2024, respectively.
• Revenue from e-Commerce area increased by $8.6 million, or 40.9%, to $29.8 million in the fiscal year 2025, from $21.2 million in the prior year period. Revenue from e-Commerce area accounted for 18.1% and 14.8% of total revenues in the fiscal year 2025 and 2024, respectively.
• Revenue from automotive area increased by $6.6 million, or 46.1%, to $20.8 million in the fiscal year 2025, from $14.2 million in the prior year period. Revenue from automotive area accounted for 12.7% and 10.0% of total revenues in the fiscal year 2025 and 2024, respectively.

Revenues by Geography

• Revenue generated outside of mainland China increased by $20.2 million, or 90.5%, to $42.5 million in the fiscal year 2025, from $22.3 million in the prior year period. The increase was due to strong performance of our operations in Singapore, Hong Kong SAR and Japan, reflecting the Company’s successful and continuous implementation of its global expansion strategy.

Gross Profit

Gross profit increased by $3.4 million, or 10.2%, to $36.3 million in the fiscal year 2025, from $32.9 million in the prior year period. The increase was primarily attributed to an increase in total revenue.

Operating Expenses

Selling and marketing expenses increased by $0.6 million, or 13.3%, to $5.2 million in the fiscal year 2025, from $4.6 million in the prior year period. As a percentage of total revenues, selling and marketing expenses decreased to 3.1% in the fiscal year 2025, compared to 3.2% in the prior year period. The increase was primarily due to an increase in sales staff to capture business growth opportunities.

Research and development expenses decreased by $1.4 million, or 18.7%, to $5.8 million in the fiscal year 2025, from $7.2 million in the prior year period. As a percentage of total revenues, research and development expenses decreased to 3.5% in the fiscal year 2025, compared to 5.0% in the prior year period. The decrease was primarily due to the redeployment of R&D staff to deliver customized IT solutions, resulting in a reclassification of these expenses as cost of revenues.

General and administrative expenses increased by $6.8 million, or 26.8%, to $31.9 million in the fiscal year 2025, from $25.1 million in the prior year period. As a percentage of total revenues, general and administrative expenses increased to 19.4% in the fiscal year 2025, compared to 17.6% in the prior year period. This increase was primarily driven by two factors: first, the recognition of significant one-time employee severance costs, which were triggered by a major client’s global restructuring strategy. After excluding all of the layoff compensation, our general and administrative expenses increased by 9.8% compared to the prior-year period. Second, the increase reflects necessary operational investments, including the establishment of the China Development Center (CDC) and Global Testing Center (GTC), which were put in place to support and capture the anticipated growth in demand for customized IT solutions services.

Operating Loss

Operating loss was $5.4 million, compared to an operating loss of $2.5 million in the same period of the previous year. Operating margin was -3.3% in the fiscal year 2025, compared to -1.8% in the prior year period.

Other Income and Expenses

Total other income, net of other expenses was $0.3 million in the fiscal year 2025, compared to $0.7 million total other income, net of other expenses in the prior year period.

Provision for Income Taxes

Provision for income taxes was $0.9 million in the fiscal year 2025, compared to a provision for income taxes of $0.2 million in the same period of the previous year.

Net Loss and (Losses) Earnings Per Share

Net loss was $6.4 million in the fiscal year 2025, compared to a net loss of $1.8 million in the prior year period.

Non-GAAP net loss^[1] was $3.8 million in the fiscal year 2025, compared to a non-GAAP net income of $1.3 million in the prior year period.

Net loss attributable to CLPS Incorporation’s shareholders was $7.0 million, or $0.26 basic and diluted losses per share in the fiscal year 2025, compared to net loss attributable to CLPS Incorporation’s shareholders of $2.3 million, or $0.09 basic and diluted losses per share in the fiscal year 2024.

Non-GAAP net loss attributable to CLPS Incorporation’s shareholders^[2] was $4.5 million, or $0.16 basic and diluted losses per share in the fiscal year 2025, compared to non-GAAP net income attributable to CLPS Incorporation’s shareholders of $0.8 million, or $0.03 basic and diluted earnings per share in the fiscal year 2024.

Cash Flow

As of June 30, 2025, the Company had cash and cash equivalents of $28.2 million compared to $29.1 million as of June 30, 2024.

Net cash used in operating activities was $2.5 million for the twelve months ended June 30, 2025. Net cash used in investing activities was $1.8 million. Net cash provided by financing activities was approximately $2.9 million. The effect of exchange rate change on cash was approximately positive $0.4 million. The Company believes that its current cash position and cash flow from operations are sufficient to meet its anticipated cash needs for at least the next 12 months.

Financial Outlook

Undeterred by the short-term challenges, we remain confident about our long-term business growth. For fiscal year 2026, the Company expects, considering our financial numbers could be affected by the floating exchange rate, and absent material acquisitions or non-recurring transactions, total sales growth in the range of approximately 10% to 15% compared to fiscal year 2025 financial results, and non-GAAP net income in the range of approximately $4.4 million to $5.0 million.

This forecast reflects the Company’s current and preliminary views, which are subject to change and to risks and uncertainties, including, but not limited to, those facing the Company’s business and operations as identified in its annual report on Form 20-F made with the Securities and Exchange Commission.

Exchange Rate

The balance sheet amounts with the exception of equity as of June 30, 2025, were translated at 7.1636 RMB to 1.00 USD compared to 7.2672 RMB to 1.00 USD as of June 30, 2024. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the periods ended June 30, 2025 and 2024 were 7.2143 RMB to 1.00 USD and 7.2248 RMB to 1.00 USD, respectively. The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S. dollar terms without giving effect to any underlying change in our business or results of operation.

About CLPS Incorporation

CLPS Incorporation (NASDAQ: CLPS), established in 2005 and headquartered in Hong Kong, is at the forefront of driving digital transformation and optimizing operational efficiency across industries through innovations in artificial intelligence, cloud computing, and big data. Our diverse business lines span sectors including fintech, payment and credit services, e-commerce, education and study abroad programs, and global tourism integrated with transportation services. Operating across 10 countries worldwide, with strategic regional hubs in Shanghai (mainland China), Singapore (Southeast Asia), and California (North America), and supported by subsidiaries in Japan and the UAE, we provide a robust global service network that empowers legacy industries evolve into data-driven, intelligent ecosystems. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, LinkedIn, X (formerly Twitter), and YouTube.

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, 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 future results, performance or achievements expressed or implied by 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 financial and operational performance in the second half and full year of fiscal 2025, 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 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.

Use of Non-GAAP Financial Measures

The consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), except that the consolidated statement of changes in shareholders’ equity, consolidated statements of cash flows, and the detailed notes have not been presented. The Company uses non-GAAP operating income (loss), non-GAAP general and administrative expenses, non-GAAP operating margin, non-GAAP net income (loss) attributable to CLPS Incorporation’s shareholders, and basic and diluted non-GAAP earnings (losses) per share, which are non-GAAP financial measures. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses and impairment of goodwill. Non-GAAP general and administrative expenses is a non-GAAP financial measure, which is defined as general and administrative expenses excluding share-based compensation expenses. Non-GAAP operating margin is non-GAAP operating income as a percentage of revenues. Non-GAAP net income (loss) attributable to CLPS Incorporation’s shareholders is net income (loss) attributable to CLPS Incorporation’s shareholders excluding share-based compensation expenses and impairment of goodwill. Basic and diluted non-GAAP earnings (losses) per share is non-GAAP net income (loss) attributable to common shareholders divided by weighted average number of shares used in the calculation of basic and diluted net income per share. The Company believes that separate analysis and exclusion of the non-cash impact of share-based compensation expenses clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of non-cash share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. The Company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP and GAAP Results” near the end of this release.

Contact:

CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com