Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. to Close Shanghai Summit Tomorrow With Webcast on Outsourcing Services and Greenfield Partners NuMobile and Alternet
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 14, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
plans to conclude its management outsourcing summit, underway this week in
Shanghai, China, with the release of an on-demand Webcast to review the
week's highlights. The Company has been marketing a new outsourcing service
since the beginning of this year and has already signed $30 million in
total revenue value through the outsourcing services offering. The Company
expects to sign over $60 million in total revenue value by year end.
This week, China Crescent released information on a potential outsourcing
contract worth an anticipated $15 million with a company in Dalian, China.
In addition to news on a potential new client, the Company also reviewed
its first major outsourcing agreement signed earlier this year worth $30
million over three years. The Company has received high marks from the
client and news that the total revenue value could exceed the originally
anticipated $30 million. The client's business has been enhanced as a
result of the project, and consequently, the services required from China
Crescent could expand as early as next year. Initial estimates suggest the
total contract value could increase to as high as $50 million over three
years.
In the Webcast to be released tomorrow, China Crescent plans to review the
Company's outsourcing services prospects as well as opportunities through
the Greenfield Partner program and NuMobile, Inc. (OTCBB : NUBL ) and
Alternet Systems, Inc. (OTCBB : ALYI ). NuMobile is a young smartphone and
mobile computing software company growing through a roll-up strategy to
build a portfolio of mobile software solutions, and Alternet offers a wide
range of mobile commerce and electronic ticketing payment services and
solutions.
China Crescent is a systems integration service provider in China that
sells and services brand name technologies such as Microsoft, Oracle,
Cisco, IBM, HP and Dell in addition to selling and servicing innovative new
technologies. China Crescent recently reported record net income of $1.1
million through the first six months of 2009 on $17 million in revenue. The
Company reported over $40 million in revenue in both 2007 and 2008 and has
forecasted reporting $50 million in profitable revenue in 2009.
A link to tomorrow's Webcast is scheduled to be available on the Company's
website www.chinacrescent.com upon release.
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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.