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China Crescent Enterprises, Inc. (OTCBB: CCTR) has scheduled an exclusive Webcast for Friday, December 11,[link widoczny dla zalogowanych], 2009, to review the pending acquisition of a China Radio Technology Ltd subsidiary located in Shenzhen, China. This is the first of two major potential transactions previously announced and anticipated to close within the month of December.
Short-Term and Long-Term ROI Webcast Available Online
The Company has previously released an exclusive Webcast featuring an update on potential near-term and long-term return on investment. The combined revenue potential in 2010 from the two pending agreements reviewed in the Webcast is approximately $30 million. A link to the previously released Webcast is available on the corporate website homepage [link widoczny dla zalogowanych] under Recent Webcasts titled 'China Crescent Shareholder Update Featuring Short-Term & Long-Term ROI Webcast.'
Potential to Deliver $20 Million in 2010 Revenue
China Crescent has previously announced a letter of intent to acquire a China Radio Technology Ltd subsidiary located in Shenzhen. China Radio Technology Ltd, a Hong Kong-registered company, is a mobile communication hardware and software company that develops and manufactures products for sale in China. The China Radio subsidiary is anticipated to produce $20 million in annual revenue. Shenzhen is located north of Hong Kong in the Guangdong province and is considered one of the fastest growing cities in the world.
Potential to Deliver $10 Million in 2010 Revenue
China Crescent has recently announced a pending service contract with Aoyuan Electronic Co. Ltd in Dalian,[link widoczny dla zalogowanych], China, for $36 million over three years, with potentially as much as $10 million in revenue that may be recognized in 2010. The pending contract would be the second major outsourcing contract signed by China Crescent this year. The Company has been marketing a new outsourcing service since the beginning of this year and has already signed $30 million in total revenue value over three years with Beijing Chuangzhitongda Technology Development through the outsourcing services offering.
$40 Million Annual Revenue History
China Crescent is a systems integration service provider in China that markets technology outsourcing services that include the sale and service of brand name technologies such as Microsoft, Oracle,[link widoczny dla zalogowanych], Cisco, IBM, HP and Dell. The Company reported over $40 million in annual revenue in both 2007 and 2008,[link widoczny dla zalogowanych], and recently reported $30 million in revenue through the first nine months of the year ending September 30, 2009, with record net income of $1.8 million compared to $517k in net income for the same period in 2008. The Company's sales are historically seasonal with its largest sales and profits usually occurring in the 4th quarter.
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China Crescent sends regular email updates to its opt-in,[link widoczny dla zalogowanych], permission-based email database. Interested investors can easily, safely and quickly register to receive these communications directly on the corporate website homepage. Recipients can manage their own email contact profile and safely unsubscribe at any time.