SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

December 14, 2010 09:20 ET

(CCTR) China Crescent Looks to NYSE Euronext for 2011 and Plans Spinoff Distribution

DALLAS, TX--(Marketwire - December 14, 2010) -  China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced an on-demand Webcast scheduled for January 6, 2011 to present the Company's plans for the upcoming fiscal year. 

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 last year. 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.

After a year of substantial growth and expansion in 2010, management plans to pursue a listing on a NYSE Euronext platform in 2011 as part of a broader overall NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Partner national exchange listing strategy. Additionally, China Crescent plans to spin off one of its subsidiary operations in China through a transaction that would include distribution of stock in the subsidiary operation to China Crescent shareholders. China Crescent management is planning for another year of aggressive revenue and net income growth. More details on the Company's plans for 2011 will be presented in the Webcast scheduled for release on January 6th.

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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.
    Email Contact
    214-722-3060