(CCTR) China Crescent Announces Shanghai Greenfield Conference to Support Continued Rapid Growth After Reporting Record $50.9 Mi
January 24 2011 - 1:37PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced
plans to host a Greenfield Partners Conference this March in
Shanghai. The conference will focus on leveraging opportunities
among NewMarket Technology Inc.'s (PINKSHEETS: NWMT) (OTCQB: NWMT)
Greenfield companies, including China Crescent, NuMobile, Inc.
(OTCBB: NUBL), Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB:
NVAE) and World Series of Golf, Inc. (PINKSHEETS: WSGF) (OTCQB:
WSGF) to promote cross-selling into additional geographic markets
and provide expanded product and service offerings. To date, the
Greenfield Program has already provided multiple partner
opportunities resulting in sizeable contracts.
China Crescent has hosted two previous Greenfield Partner
meetings in China with positive results. Some example Greenfield
Partner projects follow:
South American Telecommunications Equipment
China Crescent recently announced a third shipment of
telecommunications equipment to a Greenfield partner in South
America. NewMarket Greenfield partners in South America and China
coordinated resources following a Shanghai conference last year to
sign a telecommunications contract anticipated to generate
approximately $1.2 million in revenue over a 12 month contract
period.
$160 Million LOI in Japan
Last year, China Crescent entered into a formal letter of intent
(LOI) agreement with an undisclosed Japanese firm to develop and
provide 10,000 custom Wi-Fi devices. In conjunction with the LOI,
the Japanese firm placed a $1.6 million purchase order for 100 sets
of the device in order to conduct a pilot test. NuMobile was been
selected by China Crescent to provide a key proprietary software
component for the special purpose Wi-Fi communication device. The
Japanese customer has committed to purchase 10,000 of the custom
Wi-Fi devices for a total of $160 million over the next three
years, subject to the performance of the first 100 sets.
East Africa Expansion:
Separately, NuMobile, China Crescent and Savanna East Africa
have partnered to build a wireless broadband network in Nairobi,
Kenya. The broadband network is intended to provide a wireless
meter reading capability to local utility companies. After
successful completion of the testing phase, the wireless broadband
project is expected to expand throughout Nairobi, followed by
expansion to additional cities and countries throughout East
Africa.
Record 2010 Financial Performance
China Crescent recently reported $50.9 million in revenue
through the first nine months of 2010, compared to $30.3 million
for the same period in 2009, a 67% increase. Additionally, the
Company's net income for the first nine months of 2010 was $3.3
million, up from $1.9 million for the same period in 2009. China
Crescent's revenue and net income through the first three quarters
of 2010 has exceeded the Company's 2009 annual revenue and net
income results. China Crescent achieved $45.6 million in 2009
annual revenue with $2.2 million in net income.
2011 Systems Integration Continued Growth and
PPS Appreciation Plan
China Crescent recently released a Webcast featuring its 2011
strategy to concentrate resources on the continued rapid expansion
of its systems integration business and implement a plan to enable
long-term price per share appreciation in conjunction with
fundamental financial performance.
The Webcast is available on the China Crescent website at
www.chinacrescent.com or directly at
http://tinyurl.com/CCTR1611.
Sign Up to Receive Regular China Crescent
Investor Updates
China Crescent sends email updates to its opt-in,
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safely and quickly register to receive these communications
directly on the corporate website homepage (www.chinacrescent.com).
Recipients can manage their own email contact profile and
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About NewMarket Greenfield Partnership
Program
NewMarket launched the Greenfield Program last year to
facilitate the start-up and early stage development of high-growth
potential businesses. The Greenfield Program concentrates on early
stage, rapid growth opportunities in the world's emerging markets,
with program participants in China, Southeast Asia, South and
Central America and East Africa, in addition to a handful of
program participants in North America.
Follow the Greenfield Partnership Program on Facebook at:
http://tinyurl.com/greenfieldpp and on Twitter at
http://twitter.com/greenfieldpp.
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, 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. Headquartered in Dallas with
operations in China, 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.
"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. Email Contact
214-722-3060
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