DALLAS, TX--(Marketwire - February 15, 2011) - China Crescent Enterprises, Inc. (
"The good news for OTC investors should be that average share prices are up according to OTCBB statistics," said Philip Verges founder of the Greenfield Partnership Program. "However, I would not suggest an investment strategy based on an OTCBB increasing price per share trend. While the average OTCBB price per share increased approximately 35% in 2010 compared to 2009, the number of securities traded on the OTCBB decreased by almost 30%. The number of market makers per OTCBB security is down 67% from January 2010 to January 2011. The number of total positions held in OTCBB securities is down 72%. Nevertheless, total share volume and dollar volume is up. The OTC environment is changing dramatically. Both OTC investors and entrepreneurial management teams need to review the changing OTC landscape and correspondingly update their go to market strategies."
The Greenfield Partnership Program was launched more than a year ago to support entrepreneurial, high growth companies in achieving their operational and business objectives and has been instrumental in assisting member companies with fundraising and market penetration. China Crescent has been working diligently with the NewMarket Greenfield Partnership Program to expand its business by offering high quality, affordable technology solutions from China into the growing economies of East Africa, Latin America and other Asian countries.
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.
A link to the Webcast will be posted to www.chinacrescent.com upon release and emailed to the corporate opt-in email database.
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.
Contact Information:
Contact:
China Crescent Enterprises, Inc.
214-722-3060