Mar 22nd 2010, Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on China Crescent Enterprises, Inc. (OTCBB: CCTR). The Company released news as follows:
China Crescent Enterprises, Inc. (OTCBB: CCTR) is scheduled to be featured in a Greenfield Partnership Program Webcast this Thursday, March 25th. China Crescent has participated in the Greenfield program over the past year, and the Webcast is expected to provide an update on program milestones and a preview of partners’ upcoming financial reports for fiscal year 2009. China Crescent has announced the Company anticipates reporting positive financial results for 2009 in its upcoming annual financial filing. For the first three quarters of 2009, China Crescent reported $30 million in revenue and $1.8 million in net income. Last year, China Crescent launched two new lines of business to enhance its revenue potential, namely outsourcing services and original design manufacturing (ODM). Within the scope of these new business lines, the Company announced $66 million in new domestic outsourcing sales contracts for three-year periods, and the ODM business line has already added $160 million commitment, agreed to in a letter of intent, bolstered by an initial $1.6 million purchase order for a near shore client.
The Webcast, which will be made available for on-demand viewing, is being hosted by NewMarket Technology, Inc. (PINKSHEETS: NWMT), the company that founded the Greenfield program in 2009 to accelerate and support the introduction of new and emerging technology innovations into global growing economic markets. A link to the on-demand Webcast will be posted to the NewMarket corporate website (www.newmarkettechnology.com) upon release Thursday.
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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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