10% Potential Growth in China Received as Favorable Indicator on Viability of China Crescent Enterprises, Inc.'s 2010 $100 Milli
08 Febbraio 2010 - 3:15PM
Marketwired
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.
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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.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3060
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