DALLAS, TX--(Marketwire - November 17, 2010) - China Crescent Enterprises, Inc. (
Earlier this year, China Crescent received a $1.6 million ODM purchase order from a confidential Japanese customer for 100 sets of a special purpose Wi-Fi communication device. NuMobile was selected by China Crescent to provide a key proprietary software component for the project. Based on a formal letter of intent, the Japanese customer has committed to purchase 10,000 of the custom Wi-Fi devices for a total of $160 million over the next three years, subject to the performance of the first 100 sets.
NuMobile is building a portfolio of security and software solutions for the global mobile computing and smartphone market. NuMobile completed two acquisitions in 2009 and is currently in the final stages of a Kenya-based mobile wallet acquisition with approximately $5 million in annualized revenue. NuMobile recently filed its Q3 2010 report with 3000% revenue growth to $393k in the first nine months of 2010 compared to the first nine months of 2009. NuMobile has set a $20 million annual revenue objective for 2011.
China Crescent, a systems integration service provider of brand name technologies operating primarily in China, reported $45 million in profitable annual revenue in 2009. Through the first six months of 2010, China Crescent reported $31.7 million in revenue, 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 Q3 2010 Webcast presentation will be posted to the Company's corporate website www.chinacrescent.com upon release.
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About NuMobile, Inc. (www.numobileinc.com)
NuMobile is building a portfolio of security and software solutions for the global mobile computing and smartphone market. Through a roll-up strategy, NuMobile plans to acquire and develop mobile computing solutions for a variety of applications, including mobile banking, for the global marketplace. The demand for mobile security and software applications is being driven in large part by the growing number of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. Already in North America, the Company has also forged a partnership in the Chinese market and is developing a plan for the emerging economies of Latin America and East Africa. NuMobile is a SEC fully-reporting public company listed on the Over-the-Counter Bulletin Board.
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.
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Contact:
China Crescent Enterprises, Inc.
214-722-3060