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China Crescent Enterprises, Inc. CEO Paul Danner Releases 2009 Financial Outlook and Update on $66 Million in New and Pending O

^{Published on 2009-10-27 17:17:50 - Market Wire}
 

DALLAS, TX--(Marketwire - October 27, 2009) - China Crescent Enterprises, Inc. (OTCBB: [ CCTR ]) today released an on-demand Webcast with CEO Paul Danner to review record year to date sales growth, with a focus on the Company's new outsourcing services offering. China Crescent has been marketing a new outsourcing service since the beginning of this year to grow its revenue base with long-term services contracts that may also improve the Company's project margins. The Webcast also provides an overview of the Company's record net income for the first six months of 2009 and an outlook for the remainder of the year.

China Crescent reported over $40 million in annual revenue in both 2007 and 2008, and for the first six months of 2009, reported $17 million in revenue and record net income with an over 200% increase to $1.1 million. The Company's sales are historically seasonal with its largest sales and profits usually occurring in the 4th quarter. The Company has forecasted $50 million in profitable revenue for 2009. Management recently announced that it anticipates the better than expected 2009 sales pipeline may result in record operating income and profit in 2009, and management may increase the Company's $50 million 2009 revenue forecast following the completion of the 3rd quarter report.

$66 Million in New and Pending Outsourcing Contracts

The Company recently announced a letter of intent to provide outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China, for $36 million over three years. The pending contract would be the second major outsourcing contract signed by China Crescent this year, bringing the total long-term revenue value of China Crescent's outsourcing contracts signed in 2009 to approximately $66 million. In the Webcast released today, management discusses the potential for the closing of the Aoyuan contract, expected within the next two weeks.

A link to the on-demand Webcast titled 'China Crescent Corporate Update Webcast' is available at [ www.chinacrescent.com ] under Recent Webcasts.

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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.