Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Expects Active December With Two Major Contracts Anticipated That Could Deliver $30 Million in Revenue in 2010
Webcast Scheduled Friday, December 11 to Review Pending Acquisition Located in Shenzhen, China
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - December 7, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has scheduled an exclusive Webcast for Friday, December 11, 2009, to review
the pending acquisition of a China Radio Technology Ltd subsidiary located
in Shenzhen, China. This is the first of two major potential transactions
previously announced and anticipated to close within the month of December.
Short-Term and Long-Term ROI Webcast Available Online
The Company has previously released an exclusive Webcast featuring an
update on potential near-term and long-term return on investment. The
combined revenue potential in 2010 from the two pending agreements reviewed
in the Webcast is approximately $30 million. A link to the previously
released Webcast is available on the corporate website homepage
www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update Featuring Short-Term & Long-Term ROI Webcast.'
Potential to Deliver $20 Million in 2010 Revenue
China Crescent has previously announced a letter of intent to acquire a
China Radio Technology Ltd subsidiary located in Shenzhen. China Radio
Technology Ltd, a Hong Kong-registered company, is a mobile communication
hardware and software company that develops and manufactures products for
sale in China. The China Radio subsidiary is anticipated to produce $20
million in annual revenue. Shenzhen is located north of Hong Kong in the
Guangdong province and is considered one of the fastest growing cities in
the world.
Potential to Deliver $10 Million in 2010 Revenue
China Crescent has recently announced a pending service contract with
Aoyuan Electronic Co. Ltd in Dalian, China, for $36 million over three
years, with potentially as much as $10 million in revenue that may be
recognized in 2010. The pending contract would be the second major
outsourcing contract signed by China Crescent this year. The Company has
been marketing a new outsourcing service since the beginning of this year
and has already signed $30 million in total revenue value over three years
with Beijing Chuangzhitongda Technology Development through the outsourcing
services offering.
$40 Million Annual Revenue History
China Crescent is a systems integration service provider in China that
markets technology outsourcing services that include the sale and service
of brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and
Dell. The Company reported over $40 million in annual revenue in both 2007
and 2008, and recently reported $30 million in revenue through the first
nine months of the year ending September 30, 2009, with record net income
of $1.8 million compared to $517k in net income for the same period in
2008. The Company's sales are historically seasonal with its largest sales
and profits usually occurring in the 4th quarter.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.