CLPS is a China-based IT services company focused primarily on financial institutions. Its core business is providing IT consulting and software development to banks and other financial firms, helping clients build, modify, test, and maintain their technology systems — covering core banking infrastructure, credit card platforms, wealth management systems, and e-commerce technology. Clients include large global and Chinese institutions such as HSBC, Standard Chartered, Bank of China (Hong Kong), ANZ Bank, AIA, PayPal, and eBay. CLPS operates primarily on a time-and-materials model, billing clients for IT professionals' time at pre-agreed hourly rates; this model accounts for roughly 97% of revenue, with fixed-price customized IT solutions making up most of the remainder. Revenue is driven by billable headcount, utilization rates, and billing rates, with labor costs as the primary expense. CLPS manages labor costs through a proprietary training program that recruits and develops fresh graduates into billable professionals. Banking is the largest vertical at roughly 39% of revenue, followed by wealth management and e-commerce at roughly 18% each, and automotive at roughly 13%. The vast majority of revenue comes from existing clients, making account retention and expansion the primary growth lever. CLPS is also expanding geographically into Southeast Asia, North America, Japan, and the UAE, and has made small acquisitions — including CAE, a Singapore-based IT education institution — to build a self-sustaining talent pipeline and broaden its geographic reach.