Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 27, 2009, China Recycling Energy Corporation (the "Company") received
the resignation of Hanqiao Zheng, Chairman and President of the Company,
effective immediately. Mr. Zheng also resigned as a member of the Company's
Board of Directors. Mr. Zheng's resignation was not precipitated by a
disagreement over any matter relating to the Company's operations, policies or
practices.
On April 1, 2009, the Board of Directors approved the appointment of Guohua Ku,
the Company's Chief Executive Officer, as Chairman of the Board of Directors and
Lanwei Li as a member of the Board of Directors of the Company to replace Mr.
Hanqiao Zheng, effective April 1, 2009. There was no arrangement or
understanding pursuant to which Mr. Li was selected as a director.
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