China Crescent (CCTR) Targets Microchip Manufacturing Acquisition to Expand and Diversify Plan to Achieve $100 Million 2010 Reve
27 Aprile 2010 - 3:37PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that
management has been developing an opportunity to acquire an
integrated circuit (microchip) manufacturing operation in China.
The Company recently diversified into the original design
manufacturing (ODM) business, and management considers the
acquisition of a microchip manufacturing operation a logical and
complementary addition. Recently, China Crescent announced a $1.6
million ODM purchase order as part of a $160 million letter of
intent that is subject to the performance of the initial order.
Management plans to be prepared to manufacture the integrated
circuit components for the potential $160 million contract with its
own resources by executing on a microchip manufacturing acquisition
prior to the production phase of the contract.
China Crescent plans to release a Webcast later today on the
Company's plans to diversify its systems integration operations and
expand sales outside of China. The Webcast will include a review of
the recently announced Greenfield Program Partnership revenue
outlook for $200 million in potential revenue in 2010. Greenfield
Partners working with China Crescent in China include NuMobile,
Inc. (OTCBB: NUBL) and Nova Energy, Inc. (PINKSHEETS: NVAE) (OTCQB:
NVAE). Additionally, the Webcast is slated to provide a status
update on the Wi-Fi equipment order in conjunction with a $1.6
million purchase order. Finally, the presentation is scheduled to
provide an update on China Crescent's $100 million profitable
revenue outlook for 2010, 2009 success and recent independent
analyst 'speculative buy' recommendation. A link to the Webcast
will be published upon release at www.chinacrescent.com and emailed
to the China Crescent corporate email database.
Independent Analyst 'Speculative Buy'
China Crescent recently released an analyst report from Prime
Equity Research (PER) with a 'speculative buy' rating. The
independent analyst report provides a description of the China
Crescent investment opportunity and a summary of the Company's
growth strategy and associated risk factors. Additionally, the
report provides analysis of China Crescent's business expansion to
provide services beyond systems integration, including outsourcing
services and original design manufacturing (ODM). The independent
analyst with PER is a Certified Financial Analyst (CFA) in
accordance with the CFA Institute Code of Ethics and Standards for
Professional Conduct. The analyst has previously conducted research
for a number of Western European and North American financial
institutions, including Janney Montgomery Scott. China Crescent
engaged the analyst and paid for the services prior to any
recommendation rating or price target to ensure objective
research.
To review a copy of the initial report, please visit the China
Crescent corporate website at www.chinacrescent.com or the Prime
Equity Research website at www.primeequityresearch.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 strategic acquisition last
year, the Company expanded its business line to include original
design manufacturing (ODM). China Crescent reported $45 million in
profitable revenue in 2009 after reporting over $40 million in
revenue for both 2007 and 2008 and 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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