Contact Information: Contact: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Trading Volume Ranks in Top 50 on OTCBB, Building Momentum for Potential PPS Increase to $0.30 Suggested Fair Value Target
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 20, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
is a systems integration service provider in China that markets technology
outsourcing services that include the sale and service of brand name
technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell. China
Crescent reported over $40 million in annual revenue for 2008. The Company
reported $17 million in revenue and record net income with an over 200%
increase to $1.1 million for the first six months of 2009. The Company's
sales are historically seasonal with its largest sales and profits usually
occurring in the 4th quarter. The Company has forecasted $50 million in
profitable revenue for 2009.
"Within the milestone investing cycle we often discuss, trading volume is a
substantial factor in the price per share performance of an over the
counter quoted company," said Philip Verges, Board Member of China
Crescent. "We have recently suggested a $0.30 fair value target price per
share for China Crescent. While we do not expect a steady and continuous
increase in the share price, we instead would look for periodic increases
and subsequent declines that ideally demonstrate an upward trend toward the
$0.30 target. We anticipate those increases and declines would include
increases and declines in trading volumes as well. With the recent trading
volume registering China Crescent as a top 50 most actively traded security
by share volume on the OTCBB, in conjunction with recent milestone business
development events, we are optimistic that this might be an indication of
the next milestone increase in the price per share."
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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.