Contact Information: Contact: China Crescent Enterprises, Inc. Investor Relations 214-722-3065 ir@chinacrescent.com http://www.chinacrescent.com
China Crescent Enterprises, Inc. Wraps South China Conference With New Contacts and Wholly Owned Foreign Entity Ready for M&A
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 23, 2008) - China Crescent Enterprises, Inc. (OTCBB : CCSE )
today announced the successful completion of its participation in the
"Summit on the Industrial Transformation of Zhu Jian Delta," a conference
focused on small business financing in China. The conference was held in
South China, in close proximity to Hong Kong. This conference marked the
official beginning of China Crescent's merger and acquisition efforts and
has given the Company an opportunity to present to hundreds of small
Chinese companies and to gather contacts who are directly seeking finance
and investment. China Crescent entered the conference with one very
critical capability, namely the ability to acquire or merge companies into
its own Wholly Owned Foreign Entity. China Crescent is the sole owner of
Clipper Technology, Inc. (CLPTEC). CLPTEC is a computer hardware and
software company formed in 2005 by China Crescent and is registered and
based in Shanghai, China. CLPTEC has since formed its own majority owned
subsidiary in Ningbo, China. The benefit of having a domestic Chinese
operation with which to conduct merger and acquisition efforts cannot be
understated. In many circumstances, the ability to conduct transactions
between two Chinese firms, rather than between a foreign firm and a Chinese
firm is extremely advantageous. China Crescent established this ability in
2005, providing several different ways to structure merger and acquisition
opportunities in China. Both CLPTEC and its Ningbo subsidiary are now well
established and in good standing with all applicable China Government
entities.
Micros Report Assigns Fair Value Target Price of $0.55
On Friday, Micros Report issued an update to its initial research coverage
assigning a fair value target price of $0.55 for China Crescent stock.
Michael Willingham, Micros Report Director of Research, initiated research
coverage and published his first report on China Crescent in December 2007.
Mr. Willingham stated in his recent update, "For 2008, the Company has
forecast $50 million in sales which if achieved would result in a 25%
growth rate during a year where the Dow Jones Industrial Average has seen a
25% decrease from its peak."
Interested parties may contact ir@chinacrescent.com to receive a copy of
the report.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. 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.