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Prime Equity Research Reiterates 'Speculative Buy' Rating With $0.0516 Target PPS on China Crescent (CCTR) Highlighting $160 Mi

^{Published on 2010-06-29 06:31:14 - Market Wire}
 

DALLAS, TX--(Marketwire - June 29, 2010) - China Crescent Enterprises, Inc. (OTCBB: [ CCTR ]) today announced that Prime Equity Research (PER) has issued an update to its research coverage on the Company reiterating its 'Speculative Buy' Rating with a new price target at $0.0516 per share. The independent analyst initiated coverage on the Company in March of this year. Since that time, China Crescent has filed its 2009 annual results and first quarter 2010 report. China Crescent is a systems integration service provider of brand name technologies and reported $45 million in profitable annual revenue in 2009. China Crescent recently reported a more than 100% increase in first quarter revenue to nearly $15 million compared to the same period in 2009. Notably, net income increased more than 480% to approximately $657,000 versus the same period in 2009. The Company's recent expansion into additional lines of business in China, including outsourcing services and original design manufacturing (ODM), has contributed to the growth. The update issued today provides a review of Company progress since PER initiated research coverage on the Company.

The independent analyst with Prime Equity Research is a CFA® (Chartered Financial Analyst®) charterholder. The analyst has previously conducted research for a number of Western European and North American financial institutions, including Janney Montgomery Scott. China Crescent engaged the analyst and paid for the services prior to any recommendation rating or price target to ensure objective research.

To review a copy of the initial report or the update issued today, please visit the China Crescent corporate website at [ www.chinacrescent.com ] or the Prime Equity Research website at [ www.primeequityresearch.com ].

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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 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 and 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.