Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
June
3, 2008
CHINA
RECYCLING ENERGY CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
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000-12536
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90-0093373
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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0000721693
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4911-Electric
Services
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06628887
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(Central
Index Key)
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(Standard
Industrial Classification)
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(Film
Number.)
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429
Guangdong Road
Shanghai
200001
People’s
Republic of China
(Address
of principal executive offices, including zip code)
(86-21)
6336-8686
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On
June 3, 2008, the Board of Directors of China Recycling Energy Corporation
(the
“Company”) appointed Nicholas Shao as a director of the Board of Directors. Mr.
Shao was elected as a director in accordance with the terms of the Shareholders
Agreement between the Company, Carlyle Asia Growth Partners III, L.P. (“CAGP”),
CAGP III Co-Investment, (“CAGP III”), Hanqiao Zheng and Ping Sun in connection
with a sale and purchase of certain convertible notes under a Stock and Notes
Purchase Agreement entered into on November 16, 2007 and later amended on April
29, 2008. Under the Shareholders Agreement, CAGP and CAGP III, collectively,
have the right to designate up to two directors on the Company’s Board of
Directors. Mr. Shao’s term as a director will expire on June 2,
2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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China
Recycling Energy Corporation
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Date:
June 9, 2008
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/s/
Guangyu Wu
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Guangyu
Wu
Chief
Executive Officer
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