SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

January 04, 2011 09:21 ET

(CCTR) China Crescent and (NUBL) NuMobile Announce January $160 Million LOI Review and Update in Shanghai to Assess Latest Progress on $1.6 Million Pilot

DALLAS, TX--(Marketwire - January 4, 2011) - China Crescent Enterprises, Inc. (OTCBB: CCTR)and NuMobile, Inc. (OTCBB: NUBL) today announced senior management is scheduled to convene later this month in Shanghai, China, to review the latest progress on a $1.6 million pilot project that could lead to a $160 million contract.

Last year, China Crescent entered into a formal letter of intent (LOI) agreement with an undisclosed Japanese firm to develop and provide 10,000 custom Wi-Fi devices. In conjunction with the LOI, the Japanese firm placed a $1.6 million purchase order for 100 sets of the device in order to conduct a pilot test. NuMobile was been selected by China Crescent to provide a key proprietary software component for the special purpose Wi-Fi communication device. China Crescent and NuMobile senior management are scheduled to meet in approximately two weeks in Shanghai to review the latest customer feedback on the pilot. Following the pilot review, China Crescent and NuMobile plan to conduct a Webcast presentation to provide a progress report on the pilot and LOI. 

2011 Business Plan Update Scheduled January 6th

China Crescent plans to release an on-demand Webcast presentation this Thursday, January 6th, to discuss its aggressive plans for 2011 and review the Company's strong operational performance in 2010. The following week, on January 14th, China Crescent is scheduled to be featured in a NewMarket Technology, Inc. (PINKSHEETS: NWMTD) (OTCQB: NWMTD) video Webcast.

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 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.

Anticipated 2011 Highlights

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 Greenfield Partner national exchange listing strategy. China Crescent also 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.

Cornerstone Role in Greenfield Partnership Program

China Crescent was featured last week in an on-demand NewMarket Technology CEO Webcast presentation. In the presentation, NewMarket CEO Bruce Noller highlighted China Crescent's 2010 operational performance and 2011 business plan updates in a comprehensive presentation on NewMarket's operations and plans. The Webcast is available now for on-demand review at or directly at

PPS, ROI and The OTC(BB) Factor Webcast

China Crescent was also recently featured in a Greenfield Partnership Program Webcast available for on-demand review now at or directly at The Webcast, titled 'The OTC(BB) Factor -- A Different Perspective On Achieving An ROI' discusses the different types of companies quoted on the over-the-counter market while suggesting different investment expectations associated with each type and suggesting specific strategies to achieve investment expectations.

China Crescent Letter to Shareholders

China Crescent recently released a letter to shareholders ( The letter reviews China Crescent's operational successes in 2010 and highlights potential operational successes anticipated in 2011 that could trigger future return on investment opportunities. 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).

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About China Crescent Enterprises, Inc. (
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.

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.

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