10% Potential Growth in China Received as Favorable Indicator on Viability of China Crescent Enterprises, Inc.'s 2010 $100 Million Profitable Revenue Objective
DALLAS, TX--(Marketwire - February 8, 2010) - China Crescent Enterprises, Inc. (OTCBB: CCTR)
today announced that the Company expects continued growth in 2010 in
conjunction with recently announced 10% anticipated growth rate for the
country. According to the Shanghai Securities News and the Chinese Academy
of Sciences, China's economy may grow roughly 10% this year, where growth
may be the fastest in the first quarter with as much as 11%
(http://www.bloomberg.com/apps/news?pid=20601089&sid=anCO680RYLhc.)
China Crescent recently expanded the Company's business lines to include
original design manufacturing (ODM) and has announced over $100 million in
Wi-Fi ODM contracts anticipated to be signed within the first quarter of
2010. The average term of the anticipated contracts is three years and the
revenue from the contracts would be recognized over the course of the
average three-year term. The proprietary technology of NuMobile, Inc.
(OTCBB: NUBL), a China Crescent technology partner, would provide an
integral component in the anticipated contracts.
More details on China Crescent's ODM business line can be found in a
recently released on-demand Webcast titled 'Greenfield $100M ODM Contract
Pipeline Webcast' by going to Recent Webcasts on China Crescent's corporate
website, www.chinacrescent.com.
New Management and $85 Million Revenue Forecast
China Crescent recently announced management changes, including the
appointment of Dr. James Jiang as Chief Executive Officer and Retired Major
General Hugh Robinson to the Company's board of directors. General Robinson
recently introduced a strategic update Webcast with more information on the
Company's new CEO Dr. James Jiang. Additionally, the Webcast reviews the
Company's historical performance and $85 million profitable 2010 revenue
forecast and $100 million revenue potential based on China Crescent's
current sales pipeline, recent outsourcing services success and recent
acquisition.
A link to the Webcast titled 'China Crescent 2010 Strategic Update Webcast'
is now available under Recent Webcasts on the corporate website at
www.chinacrescent.com, and a direct link is available here:
http://www.chinacrescent.com/wcdh_20100204.htm.
Sign Up to Receive Regular China Crescent Investor Updates
China Crescent sends regular email updates to its opt-in, permission-based
email database. Interested investors can easily, safely and quickly
register to receive these communications directly on the corporate website
homepage (www.chinacrescent.com). Recipients can manage their own email
contact profile and safely unsubscribe at any time.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets
technology outsourcing services in China including the sale and service of
brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell.
Following a recent strategic acquisition, the Company has expanded its
business line to include original design manufacturing (ODM). China
Crescent reported over $40 million in profitable revenue in 2008. The
Company has reported record profits through the first 9 months of 2009 and
anticipates reporting record profit in the 2009 annual report. Management
has set a goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and
Beijing, China Crescent bridges the gap between global business cultures to
assist clients worldwide realize the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists 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.
Contact Information: Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3060