Item 8.01 Other Events.

On March 31, 2009, China Energy Recovery, Inc., a Delaware corporation (the "Company"), released an aggregate of 1,779,180 shares of its common stock held in escrow pursuant to the terms of the Share Exchange Agreement, dated as of January 24, 2008, between the Company, Poise Profit International, Ltd., a private British Virgin Islands corporation ("Poise"), and Poise's shareholders. The shares of common stock were deposited into an escrow account on April 15, 2008 upon the closing of the Share Exchange Agreement pursuant to which the Company acquired all of the issued and outstanding shares of Poise's common stock in exchange for the issuance of shares of Company common stock to Poise's then-shareholders. Pursuant to the terms of the Share Exchange Agreement, the escrowed shares of common stock were released to Poise's former shareholders as a result of the achievement by the Company's wholly-owned subsidiary, HAIE Hi-tech Engineering (Hong Kong) Company, Limited, of certain financial targets for the 2008 fiscal year set forth in the Share Exchange Agreement.

---