Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Announces Webcast to Review $7.4 M in Profitable 1st QTR 2009 Revenue, $0.30 PPS Suggested Fair Value Target and Reg SHO Buy-In Potential
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - May 21, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced the Company will release an on-demand Webcast Friday, May
22nd to review the Company's profitable first quarter 2009 financial
results. The Webcast will include a review of the Company's recently
announced suggested fair value target price of $0.30 per share and the
anticipated potential buy-in that could result from the Company's ongoing
listing on the Regulation SHO threshold security list.
15% Net Income Increase in 1st QTR 2009 Financial Report on $7.4 Million in
Revenue
Earlier today the Company announced filing SEC Form 10-Q reporting its
performance for the first three months of 2009, featuring a 15% increase in
net income compared to the same period in the previous year. Management
anticipates continued revenue and net income growth throughout 2009 to
exceed the overall revenue and net income reported in 2008.
http://finance.yahoo.com/news/China-Crescent-Enterprises-iw-15316038.html
Suggested Fair Value Target Price of $0.30 Per Share
Last week, the Company conducted an on-demand Webcast to review a suggested
fair value target PPS of $0.30. The fair value target price suggestion is
based on the share price of comparable publicly listed companies. The
Webcast includes a list of the other companies and their respective share
price performance
The Webcast is now available for review on the Company website. A link to
the Webcast titled 'China Crescent CCTR Ticker and PPS Growth Strategy (May
13, 2009)' is available on the Company website under Current Events and
Communications at:
http://www.newmarkettechnology.com/about-newmarket-china.htm.
Continued Listing on Regulation SHO Threshold List and Potential Buy-In
Earlier this week the Company released an on-demand Webcast reviewing the
Regulation SHO Threshold List and management's perspective on the role of
short selling as it pertains to the public micro-cap market. The Webcast
also reviews the potential impact of the Regulation SHO threshold security
listing on the China Crescent common share price. The price per share (PPS)
increased more than 39% with a high volume of trading on Friday, May 15,
following the Company's first announcement of listing on the Regulation SHO
threshold list on Thursday, May 14, 2009. The Company remains listed on the
"threshold security" list as of the close of trading yesterday, Wednesday,
May 20th. Management continues to anticipate a possible buy-in that could
result in an increased share price.
The Webcast is available for review on the Company website. A link to the
Webcast titled 'Regulation SHO Threshold List Webcast (May 20, 2009)' is
available on the Company website under Webcasts at:
http://www.newmarkettechnology.com/about-newmarket-china.htm.
The Webcast scheduled for tomorrow will be available for viewing on-demand.
A link for accessing the Webcast will be available on the Company's
corporate website on May 22nd.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (http://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.