DALLAS, TX--(Marketwire - October 19, 2010) - China Crescent Enterprises, Inc. (
China Crescent is a systems integration service provider of brand name technologies operating primarily in China that reported $45 million in profitable annual revenue in 2009. China Crescent reported $31.7 million in revenue for the first six months of 2010, up 87% compared to $16.9 million in revenue for the first six months in 2009. Net income increased to $1.12 million for the second quarter 2010 compared to $1.02 million for second quarter 2009 and for the first six months of 2010, net income was $1.77 million compared to $1.14 million for the same period in 2009. The Company's recent expansion into additional lines of business in China, including outsourcing services and original design manufacturing (ODM), has contributed to the growth.
A link to the Webcast will be posted to the corporate website www.chinacrescent.com upon release and emailed to the corporate opt-in email database.
Sales in East Africa
China Crescent recently announced the Company's original design manufacturing (ODM) subsidiary, Shenzhen Newbao Technology Co. Ltd., completed the sale of its proprietary GPS tracking devices to a confidential ICT systems integration firm headquartered in Nairobi, Kenya. China Crescent has been working diligently with the Greenfield Partnership Program to expand its business by offering high quality, affordable technology solutions from China into the growing economies of East Africa. China Crescent's ODM subsidiary manufactures custom wireless products and is based in Shenzhen, China. The Company expects to complete subsequent sales of GPS tracking devices in the region based on initial customer satisfaction.
East African Trade Mission
The United Nations International Strategy for Disaster Recovery (UNISDR) will join the NewMarket Greenfield Partnership Program and the Small Equity Initiative as the two conduct the Trade Mission next week in Nairobi, Kenya intended to stimulate small business investment in high growth potential enterprises. The Friday Webcast will include a preview of the upcoming Trade Mission featuring a pilot program intended to urge private sector innovation and investment aimed at reducing disaster risk.
To learn more about the Private Sector Disaster Reduction Pilot Program announced last week, click on the link: http://tinyurl.com/24o2jbb.
"The Greenfield Partnership Program has gained notable momentum this year," said Philip Verges, Director of the Greenfield Partnership Program. "The UNISDR program is a testament to both the Greenfield Program's progress and potential. The number and variety of Greenfield Partner companies is probably greater and broader than many of those familiar with the program are aware. I hope you will join me this Friday to learn more about the Greenfield Partner companies you follow and the partner companies you have yet to learn about."
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets technology outsourcing services in China including the sale and service of brand name technologies such as Microsoft, Cisco, IBM, HP and Dell. Following a strategic acquisition last year, the Company expanded its business line to include original design manufacturing (ODM). China Crescent reported $45 million in profitable revenue in 2009 after reporting over $40 million in revenue for both 2007 and 2008 and has set a goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and Beijing, China Crescent bridges the gap between global business cultures to assist clients worldwide realize the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists 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.
Contact Information:
Contact:
China Crescent Enterprises, Inc.
214-722-3060