Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Set Sights on 2010 $100 Million Profitable Revenue Target and National Exchange Listing Strategy After Achieving $66 Million Milestone
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 19, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
recently announced a 2010 objective of reaching a profitable annualized
revenue run rate of $100 million. Subsequently, the Company announced a
letter of intent to provide outsourcing services to Aoyuan Electronic Co.
ltd in Dalian, China, for $36 million over three years. The finalization
of the contract with Aoyuan will bring the total revenue value of China
Crescent's 2009 outsourcing contracts to approximately $66 million.
"Our outsourcing business is gaining momentum and our confidence in
reaching an annual $100 million profitable revenue run rate in 2010 is
high," said Paul Danner, CEO of China Crescent Enterprises, Inc. "We are
now developing a strategy to benefit from a national exchange listing with
the anticipated magnitude of the operation in 2010."
China Crescent is a systems integration service provider in China that
provides technology outsourcing services and sells and services brand name
technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell in addition
to selling and servicing innovative new technologies.
Outsourcing Summit Webcast Available
On-Line
China Crescent conducted a series of meetings across four cities in China
last week in conjunction with the Company's scheduled outsourcing
management summit, primarily aimed at reviewing and developing the
Company's growing technology outsourcing business. China Crescent posted a
Webcast to review the week's highlights. A link to the Webcast titled
'China Crescent Outsourcing Summit Review Webcast' is available at
www.chinacrescent.com under Recent Webcasts.
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Company, please visit www.chinacrescent.com.
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.