DALLAS, TX--(Marketwire - January 11, 2011) - China Crescent Enterprises, Inc. (
The Greenfield Partnership Program has been instrumental in assisting member companies with fundraising and market penetration. Additionally, the network of member companies has aided in the expansion companies' geographic reach and portfolio of services.
China Crescent has been working diligently with the NewMarket Greenfield Partnership Program to expand its business by offering high quality, affordable technology solutions from China into the growing economies of East Africa, Latin America and other Asian countries. For example, since working with the Greenfield Program, China Crescent has announced the sale of its proprietary GPS tracking devices to a confidential ICT systems integration firm headquartered in Nairobi, Kenya and a new telecom contract in South America. Notably, China Crescent has also announced a $1.6 million purchase order for custom Wi-Fi equipment received from a Japanese client as part of an overall $160 million letter of intent commitment over the next three years that is subject to the performance of the initial order.
A link to the upcoming videocast will be posted to China Crescent's website www.chinacrescent.com upon release. Past Webcasts and communications are also available on the corporate website.
Record 2010 Financial Performance
China Crescent recently reported $50.9 million in revenue through the first nine months of 2010, compared to $30.3 million for the same period in 2009, a 67% increase. Additionally, the Company's net income for the first nine months of 2010 was $3.3 million, up from $1.9 million for the same period in 2009. China Crescent's revenue and net income through the first three quarters of 2010 has exceeded the Company's 2009 annual revenue and net income results. China Crescent achieved $45.6 million in 2009 annual revenue with $2.2 million in net income.
Systems Integration Continued Growth and PPS Appreciation Plan
Last week, China Crescent released a Webcast featuring its 2011 strategy to concentrate resources on the continued rapid expansion of its systems integration business and implement a plan to enable long-term price per share appreciation in conjunction with fundamental financial performance.
The Webcast is available on the China Crescent website at www.chinacrescent.com or directly at http://tinyurl.com/CCTR1611.
Euronext New York Stock Exchange and Dividend Strategy
NewMarket CEO Bruce Noller recently conducted a Webcast highlighting China Crescent's plans to move to a national exchange and dividend strategy, stating:
"We plan to move China Crescent's and NewMarket's other systems integration operations onto the Euronext New York Stock Exchange platform and at the same time, execute a spinoff distribution of China Crescent's non-systems integration operations."
The NewMarket CEO Webcast is available for on-demand review at www.newmarkettechnology.com or directly at http://tinyurl.com/NewMarket1230.
Letter to Shareholders
China Crescent recently released a letter to shareholders: http://www.chinacrescent.com/lts_2010_12_15.html. The letter reviews China Crescent's operational successes in 2010 and highlights potential operational successes anticipated in 2011. The letter also reviews the Small Equity Initiative and its participation in the recent Economist Magazine's World in 2011 Festival that included President Clinton and the Clinton Foundation and in the United Nations International Strategy for Disaster Reduction (UNISDR).
Sign Up to Receive Regular China Crescent Investor Updates
China Crescent sends email updates to its opt-in, permission-based email database. Interested investors can easily, safely and quickly register to receive these communications directly on the corporate website homepage (www.chinacrescent.com). Recipients can manage their own email contact profile and unsubscribe at any time.
About NewMarket Greenfield Partnership Program
NewMarket launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.
Follow the Greenfield Partnership Program on Facebook at: http://tinyurl.com/greenfieldpp and on Twitter at http://twitter.com/greenfieldpp.
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. Headquartered in Dallas with operations in China, 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.
"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