Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Closes Management Summit in Beijing as Russian Prime Minister Vladimir Putin Visits Chinese Capital
Company Posts Outsourcing Summit Webcast Outlining $60 Million in Potential Total Outsourcing Revenue by Year End
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 15, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced the closing of the management summit on outsourcing with a
series of meetings in Beijing that coincided with the state visit of
Russian Prime Minister Vladimir Putin. The management summit kicked off on
Monday in Shanghai with meetings in four cities in China throughout the
week, primarily aimed at reviewing and developing the Company's growing
technology outsourcing business. 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 through the outsourcing services
offering. The Company expects to sign over $60 million in total revenue
value by year end.
Outsourcing Contracts Potential Greater Than Anticipated
The scheduled meetings during the summit with prospective new outsourcing
clients exceeded management's expectations. The magnitude of the
opportunities reviewed this week was larger than management anticipated and
may be engaged sooner than expected. The execution of a letter of intent
on an outsourcing agreement is imminent and may be released later today.
Mobile Software Strategy with NuMobile, Inc. and Alternet Systems, Inc.
In addition to conducing meetings surrounding the ongoing development of
the growing outsourcing service offering in China, the summit also reviewed
and advanced its mobile software strategy in China. In its mobile software
strategy, China Crescent is working with NuMobile, Inc. (OTCBB : NUBL ), a
smartphone and mobile computing software company growing through a roll-up
strategy to build a portfolio of mobile software solutions, and Alternet
Systems, Inc. (OTCBB : ALYI ), a company offering a wide range of mobile
commerce and electronic ticketing payment services and solutions.
Outsourcing Summit Webcast Available On-Line
Today, China Crescent released an outsourcing summit review Webcast on its
corporate website. The Webcast reviews the Company's outsourcing services
prospects as well as the mobile software strategy opportunities with
NuMobile and Alternet Systems. A link to the Webcast titled 'China
Crescent Outsourcing Summit Review Webcast' is available at
www.chinacrescent.com under Recent Webcasts.
China Crescent is a systems integration service provider in China that
provides technology outsourcing services and sells and services brand name
technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell in addition
to selling and servicing innovative new technologies. China Crescent
recently reported record net income of $1.1 million through the first six
months of 2009 on $17 million in revenue. The Company reported over $40
million in revenue in both 2007 and 2008 and has forecasted reporting $50
million in profitable revenue in 2009.
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Company, please visit www.chinacrescent.com.
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.