(CCTR) China Crescent $1000 Million Annual Revenue Objective and Sales Traction in Africa to Be Featured in Greenfield Partnership Webcast Scheduled This Friday, October 22
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced the Company is scheduled to be featured in an upcoming Greenfield Partnership Program Webcast presentation this Friday, October 22. The Webcast agenda includes a progress report update on the Greenfield Partnership Program and its participant companies, and a preview of the program's Trade Mission to East Africa next week in which China Crescent CEO Dr. James Jiang is scheduled to participate. The Webcast is also slated to review China Crescent's sales traction in East Africa and the Company's $1000 million 2010 revenue objective.
China Crescent is a systems integration service provider of brand name technologies operating primarily in China that reported $45 million in profitable annual revenue in 2009. China Crescent reported $31.7 million in revenue for the first six months of 2010, up 87% compared to $16.9 million in revenue for the first six months in 2009. Net income increased to $1.12 million for the second quarter 2010 compared to $1.02 million for second quarter 2009 and for the first six months of 2010, net income was $1.77 million compared to $1.14 million for 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.
Sales in East Africa
China Crescent recently announced the Company's original design manufacturing (ODM) subsidiary, Shenzhen Newbao Technology Co. Ltd., completed the sale of its proprietary GPS tracking devices to a confidential ICT systems integration firm headquartered in Nairobi, Kenya. China Crescent has been working diligently with the Greenfield Partnership Program to expand its business by offering high quality, affordable technology solutions from China into the growing economies of East Africa. China Crescent's ODM subsidiary manufactures custom wireless products and is based in Shenzhen, China. The Company expects to complete subsequent sales of GPS tracking devices in the region based on initial customer satisfaction.
East African Trade Mission
The United Nations International Strategy for Disaster Recovery (UNISDR) will join the NewMarket Greenfield Partnership Program and the Small Equity Initiative as the two conduct the Trade Mission next week in Nairobi, Kenya intended to stimulate small business investment in high growth potential enterprises. The Friday Webcast will include a preview of the upcoming Trade Mission featuring a pilot program intended to urge private sector innovation and investment aimed at reducing disaster risk.
This article was originally posted on East Africa Business Communities
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