China Crescent Enterprises, Inc. Expects Active December With Two Major Contracts Anticipated That Could Deliver $30 Million in
07 Dicembre 2009 - 3:44PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) has scheduled an
exclusive Webcast for Friday, December 11, 2009, to review the
pending acquisition of a China Radio Technology Ltd subsidiary
located in Shenzhen, China. This is the first of two major
potential transactions previously announced and anticipated to
close within the month of December.
Short-Term and Long-Term ROI Webcast Available Online
The Company has previously released an exclusive Webcast
featuring an update on potential near-term and long-term return on
investment. The combined revenue potential in 2010 from the two
pending agreements reviewed in the Webcast is approximately $30
million. A link to the previously released Webcast is available on
the corporate website homepage www.chinacrescent.com under Recent
Webcasts titled 'China Crescent Shareholder Update Featuring
Short-Term & Long-Term ROI Webcast.'
Potential to Deliver $20 Million in 2010 Revenue
China Crescent has previously announced a letter of intent to
acquire a China Radio Technology Ltd subsidiary located in
Shenzhen. China Radio Technology Ltd, a Hong Kong-registered
company, is a mobile communication hardware and software company
that develops and manufactures products for sale in China. The
China Radio subsidiary is anticipated to produce $20 million in
annual revenue. Shenzhen is located north of Hong Kong in the
Guangdong province and is considered one of the fastest growing
cities in the world.
Potential to Deliver $10 Million in 2010 Revenue
China Crescent has recently announced a pending service contract
with Aoyuan Electronic Co. Ltd in Dalian, China, for $36 million
over three years, with potentially as much as $10 million in
revenue that may be recognized in 2010. The pending contract would
be the second major outsourcing contract signed by China Crescent
this year. 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 over three years with Beijing
Chuangzhitongda Technology Development through the outsourcing
services offering.
$40 Million Annual Revenue History
China Crescent 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. The Company reported over $40
million in annual revenue in both 2007 and 2008, and recently
reported $30 million in revenue through the first nine months of
the year ending September 30, 2009, with record net income of $1.8
million compared to $517k in net income for the same period in
2008. The Company's sales are historically seasonal with its
largest sales and profits usually occurring in the 4th quarter.
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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.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3060
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