China Crescent Enterprises, Inc. Anticipates Potential Price per Share Increase in Reaction to Analyst Report Coverage of Majori
23 Febbraio 2010 - 2:30PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced a
potential price per share (PPS) increase in reaction to an
independent analyst report on the Company's majority shareholder
with a 'buy' rating and target PPS recommendation nearly fifty
times higher than the current PPS. China Crescent's majority
shareholder owns and operates additional systems integration
businesses, similar to China Crescent, in other emerging economic
markets around the world. The independent analyst valued the
majority shareholder on a discounted cash flow basis and in
comparison to similar companies. Based on an equally weighted
compilation of the various valuation methods, the analyst concluded
that the PPS of the majority shareholder was substantially
undervalued.
"China Crescent contributes almost half of the revenue
consolidated into the revenue of its majority shareholder," said
Philip Verges, founder and board member of China Crescent and
chairman of the majority shareholder. "China Crescent realized
record net income through the first three quarters of 2009 and I
anticipate China Crescent will report record net income for all of
2009 in its upcoming annual report. Similar to the price per share
performance of its majority shareholder, it is my opinion that the
price per share for the common stock of China Crescent is
undervalued in comparison to the Company's fundamental financial
performance. An independent analyst report on the majority
shareholder that takes into consideration the operations of China
Crescent most likely indicates that the price per share of both
China Crescent and its majority shareholder do not reflect either
company's underlying fundamental financial values."
China Crescent is scheduled to conduct a Webcast this Friday,
February 26th to review the Company's updated strategy to increase
revenue and profits featuring an expansion into India. The Friday
Webcast is also meant to provide a review of China Crescent's PPS
performance in relation to the recent analyst report coverage on
the majority shareholder.
A link to the Webcast will be made available on the Company's
website www.chinacrescent.com and emailed to the corporate email
database upon release Friday.
If you would like a copy of the Analyst Report mentioned above,
please email ir@chinacrescent.com.
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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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