Business Monitor International Report Confirms China Crescent Enterprises, Inc. Marketing Direction in China Tapping Into $743 M
24 Settembre 2009 - 6:20PM
Marketwired
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 has a focus on second-tier cities,
small-to-medium enterprises (SMEs), and rural markets for expanding
the Company's presence in China. In February of this year, the
Chinese government launched a subsidy program to fuel PC sales in
rural China. Fourteen vendors were selected by the Chinese
government as dedicated suppliers as part of its subsidy program,
including Lenovo and Dell, for which China Crescent is a value
added reseller. According to a recent report by Business Monitor
International, Lenovo plans to increase focus on rural markets,
"aiming to cover 320,000 villages across the country through 7,800
sales networks in the next three years."
Despite a slowdown in PC sales worldwide in 2009, a recovery is
expected in 2010 fueled by virtually untapped markets such as rural
China. An additional high-growth sector being serviced by the IT
market is SMEs. The Chinese Ministry of Industry and Information
Technology has already pledged US $743 million, with the
possibility of more dedicated funds to help fuel IT growth amongst
SMEs.
While China Crescent's sales have been historically hardware
heavy, the Company launched a campaign earlier this year to focus
on higher-margin, longer term services such as outsourcing and
software sales. As second-tier and rural areas put infrastructure
in place, software and IT support services will be necessary.
Additionally, Chinese companies, namely SMEs, are beginning to use
IT not just as a necessity, but as a means of reducing costs and
increasing productivity.
China Crescent is a systems integrator and value added reseller
of major global hardware brands in the Chinese domestic market to
include Lenovo and Dell. Brands the Company sells and supports also
include Hewlett-Packard, 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.
Corporate E-mail Updates
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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.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3060
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