Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Reviews Revenue and Profit Contribution From New Outsourcing Service and Previews 2010 in Update on Pending $36 Million Contract
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - December 18, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today released an on-demand Webcast focused on a pending $36 million,
three-year contract with Aoyuan Electronic Co. Ltd located in Dalian,
China, that management expects to close by year-end. China Crescent would
provide outsourcing services for the client, to include desktop computing
and telecommunications. China Crescent launched its outsourcing services
business line earlier this year and expects the impact of its initial
success to be reflected in fourth quarter 2009 financials. Additionally,
the Company's sales are historically seasonal with its largest sales and
profits usually occurring in the 4th quarter. China Crescent reported $30
million in revenue through the first nine months of the year ending
September 30, 2009, with record net income of $1.8 million. The contract
with Aoyuan Electronic Co. Ltd. could contribute upwards of $10 million to
China Crescent's revenue in 2010. In conjunction with this first potential
contract in Dalian, one of the strongest cities in China, China Crescent is
also looking to further expand its services in the surrounding region. The
Webcast also discusses China Crescent's near and long-term potential,
anticipated 4th quarter results and upcoming Virtual Town Hall scheduled
for release on January 22, 2010.
A link to the Webcast is available on the corporate website
www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update - Dalian Potential $36 Million Contract Webcast.'
Recent Milestone Acquisition with Potential to Add $20 Million to 2010
Revenue
Last Week, China Crescent announced the acquisition of a China Radio
Technology Ltd. subsidiary located in Shenzhen that is anticipated to
produce $20 million in annual revenue in 2010. China Radio Technology, a
Hong Kong-registered company, is a mobile communication hardware and
software company that develops and manufactures products for sale in China.
China Crescent released an exclusive Webcast reviewing the milestone
acquisition and a link to the Webcast is available on the corporate website
www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update -- CRT Acquisition Webcast.'
China Crescent Virtual Town Hall January 22, 2010
China Crescent plans to release a 2009 Virtual Town Hall on January 22,
2010, and the agenda includes a review of the Company's outsourcing service
offering and recent acquisition. The Virtual Town Hall agenda also includes
a review of 2009, a preview of the Company's plans for the year ahead and
an outline of plans to evolve the Company's growth strategy while adopting
lessons learned.
The Virtual Town Hall is scheduled to be made available online to
interested viewers on their own schedule and from their own location.
Shareholders and interested investors are asked to submit suggested topics
for discussion and questions by 5 pm CST December 28, 2009 to
townhall@chinacrescent.com.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company 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.