Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Reviews $30 Million in Potential New Revenue in 2010 From Pending Acquisition and Service Contract Anticipated to Close in December
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - December 2, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has released an exclusive Webcast featuring an update on potential
near-term and long-term return on investment. The Webcast notes two
pending agreements anticipated to close in December as potential triggers
for possible milestone increases in share price. The combined revenue
potential in 2010 from the two pending agreements is approximately $30
million. A link to the Webcast is now available on the corporate website
homepage www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update Featuring Short-Term & Long-Term ROI Webcast.'
Shenzhen Acquisition Agreement
China Crescent has announced a letter of intent to acquire a China Radio
Technology Ltd subsidiary 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
subsidiary, which China Crescent plans to acquire from China Radio, 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. For more information on the
acquisition opportunity in Shenzhen, please review the on-demand Webcast
titled 'China Crescent - China Radio Technology Ltd' available at the
corporate website www.chinacrescent.com.
Dalian Service Contract Agreement
China Crescent has recently announced a pending service contract with
Aoyuan Electronic Co. ltd in Dalian, China, for $36 million over three
years. 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.
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. The Webcast further
reviews the enhanced milestone ROI potential and improved long-term
viability of China Crescent as well as a recap of the Company's recently
filed third quarter 2009 financial results.
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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.