Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
Wall Street Journal Features China Crescent Enterprises, Inc. Stimulus Package Driven Chinese Sales Growth of Resale Partners Lenovo and Hewlett-Packard
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 24, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
reported $17 million in revenue and a record net income of $1.1 million for
the first six months of 2009. Net Income increased over 200% from the same
period the previous year. With $45 million in recently announced
outsourcing contracts or pending contracts, the Company is on track to
achieve its forecasted $50 million in profitable revenue for 2009 and may
increase its 2009 forecast, anticipating reporting record results for the
third quarter.
China Crescent's 2009 success may in part be credited to a $586 billion
Chinese government subsidy program designed to stimulate the nation's
economy by encouraging spending in rural areas. The majority of China
Crescent's sales today come from areas in China that are outside of major
cities. Yesterday, the Wall Street Journal featured the sales programs
implemented in China by Lenovo Group Ltd. and Hewlett-Packard Co. to expand
sales in the Chinese countryside and benefit from the $586 billion Chinese
government economic stimulus program.
The article by Loretta Chao on the front page of the Wall Street Journal
Business Section reported:
"Globally, PC shipments have dropped in recent quarters as spending by
companies and consumers has decreased. But in China -- where about 40
million PCs are sold annually, making it the world's second largest PC
market after the U.S. -- sales have continued to grow, albeit at slower
rates."
The article can be found in its entirety at:
http://online.wsj.com/article_email/SB125366214543432237-lMyQjAxMDI5NTIzMzYyNjMyWj.html.
China Crescent is a systems integrator and value added reseller of major
global hardware brands in the Chinese domestic market to include Lenovo and
Hewlett Packard. Brands the Company sells and supports also include Dell,
IBM, Cisco, Sony, Epson, Canon and Sanyo. Additionally, the Company is an
authorized reseller of operating system, database, middleware and
application software from Microsoft, Red Hat, Oracle, Sybase, IBM, BEA,
Veritas and others.
Lunch Presentation in Dallas Today at 12 pm CDT
China Crescent is scheduled to conduct a complimentary lunchtime
presentation on its business and corporate growth strategies in Dallas,
Texas today at 12 pm CDT. Any interested clients, vendors, or shareholders
are invited to attend. A reservation is required and those interested in
attending the presentation should call 214-722-3060 or email
info@chinacrescent.com.
Corporate E-mail Updates
To sign up to receive company updates or to obtain more information on the
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.