Contact Information: Contact: China Crescent Enterprises, Inc. Investor Relations 214-722-3065 ir@chinacrescent.com http://www.chinacrescent.com
China Crescent Enterprises, Inc. Kicks Off M&A Campaign With Conference Near Hong Kong to Add to Current Annualized Revenue On Track to Achieve $50 Million in 2008
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 17, 2008) - China Crescent Enterprises, Inc. (OTCBB : CCSE )
today announced the Company will be kicking off its merger and acquisition
campaign with the Company's participation in the "Summit on the Industrial
Transformation of Zhu Jian Delta," a conference focused on small business
financing in China. During the conference VP of Business Development Larry
Wu and Founder and Board Member Philip Verges will present on global small
business financing. The conference will provide a rich source of potential
M&A candidates, as it will provide China Crescent the opportunity to reach
hundreds of small businesses at once. The Company is looking to expand both
its service offerings and its operations to areas throughout China and
possibly beyond.
$19.2 Million in Revenue in First Six Months of 2008; Expects Strong Second
Half of Year
The Company reported $19.2 million in revenue for the first six months of
2008, reflecting an 11% increase in revenue over the first six months of
2007. Net income for the first six months of 2008 was $321 thousand
compared to a loss of $22 thousand for the same period last year. The
Company has reported four continuous quarters of profitability with
continued revenue growth. The Company anticipates seasonally higher sales
in the 3rd and 4th quarters compared to the 1st and 2nd quarters.
Webcast this Friday at 12:30 pm EDT on YTD Progress
China Crescent CEO Paul K. Danner, along with Founder and Board Member
Philip Verges, will conduct a Webcast Friday, September 19 at 12:30 pm EDT.
During the Webcast management will discuss the Company's year-to-date
progress to meet or exceed its profitable $50 million revenue forecast.
A link to the Webcast will be available on the Company's corporate Website
at www.chinacrescent.com titled "China Crescent Year-to-Date Corporate
Update" prior to the event.
Micros Report Analyst Report Update and New Target Fair Value Share Price
Micros Report is expected to release a research report update from Michael
Willingham, Director of Research, on Friday following the CEO Webcast.
Micros Report initiated research coverage and published his first report on
China Crescent in December 2007.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western 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.