CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02 Departure of Directors or Certain officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(b) On April 24, 2017, the Board of Directors (the Board) of
China Recycling Energy Corporation, a Nevada corporation (the
Company) received the resignation of Mr. Cangsang Huang, a
director of the Company, Chairman of the Audit Committee, and a
member of the Corporate Governance and Nominating Committee and
the Compensation Committee of the Board, effective on May 31,
2017. Mr. Huang indicated that his resignation is due to personal
considerations.

On April 26, 2017, the Board received the resignation of Mr.
Yulong Ding, a director of the Company, Chairman of the
Compensation Committee, and a member of the Corporate Governance
and Nominating Committee and the Audit Committee of the Board,
effective on May 31, 2017. Mr. Ding indicated that his
resignation is due to personal considerations.

(d) On April 27, 2017, the Board appointed Mr. Xiaogang Zhu and
Mr. Xiaoping Guo as new members of the Board to fill the pending
vacancies on the Board, effective on June 1, 2017 and until their
successors have been duly elected and qualified. On April 27,
2017, Mr. Zhu was appointed as Chairman of the Audit Committee
and a member of the Corporate Governance and Nominating Committee
and the Compensation Committee of the Board, effective on June 1,
2017 and Mr. Guo was appointed as Chairman of the Compensation
Committee and a member of the Corporate Governance and Nominating
Committee and the Audit Committee of the Board, effective on June
1, 2017.

Mr. Xiaogang Zhu has served as a financial consultant to Shaanxi
Coal Chemical Engineering New Energy Co., Ltd., since May 2014.
From December 2007 until May 10, 2014, Mr. Zhu served as the
Companys accounting manager and vice president of accounting.
Prior to that, Mr. Zhu was the Chief Financial Officer of China
Natural Gas, Inc., from 2005 to 2007, and as the vice president
of Xian Dapeng Biological Technology Co., Ltd. from 2000 to 2005.
Mr. Zhu received his bachelor degree in accounting from Shaanxi
University of Finance and Economics in 1992.

Mr. Xiaoping Guohas served as the assistant to president of
Datang New Energy Co., Ltd., since 2010. Mr. Guo received his
bachelor degree from the Xian Jiaotong University in 1977, and
his masters degree in systems engineering from the same school in
2000. Mr. Guo is a professor level senior engineer in China.

Based on its investigation, the Board determined that Mr. Zhu
will be independent under the independence requirements of The
NASDAQ Stock Market LLC and Rule 10A-3 under the Securities
Exchange Act of 1934 on and after June 1, 2017, and that he does
not have any relationship that would interfere with the exercise
of independent judgment in carrying out the responsibilities of a
director. The Board also determined that Mr. Guo is independent
under the independence requirements of The NASDAQ Stock Market
LLC and Rule 10A-3 under the Securities Exchange Act of 1934, and
that he does not have any relationship that would interfere with
the exercise of independent judgment in carrying out the
responsibilities of a director

Based on its review, the Board also determined that each of Mr.
Zhu and Mr. Guo qualifies as a Non-Employee Director as defined
by Rule 16b-3 under the Securities Exchange Act of 1934, as
amended, and as an outside director under Section 162(m) of the
Internal Revenue Code and related regulations.

The Board further determined that Mr. Zhu is an audit committee
financial expert, as defined by NASDAQ Rule 5605(a)(2) and Item
401(h) of Regulation S-K.

There are no arrangements or understandings between Mr. Zhu or
Mr. Guo and any other person to which Mr. Zhu and Mr. Guo are
appointed as directors of the Company. In addition, there is no
family relationship between Mr. Zhu or Mr. Guo and any director
or executive officer of the Company.

About CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG)

China Recycling Energy Corporation is engaged in the recycling energy business, providing energy savings and recycling products and services. The Company develops waste energy recycling projects for industrial applications in China. It offers waste energy recycling systems to companies for use in iron and steel, nonferrous metal, cement, coal and petrochemical plants. Its waste pressure-to-energy solution consists of the blast furnace top gas recovery turbine unit (TRT), a system that utilizes high pressure gas emitted from the blast furnace top to drive turbine units and generate electricity. Its waste heat-to-energy solution consists of heat power generation projects for applications in cement, steel, coking coal and nonferrous metal industries, which collect the residual heat from various manufacturing processes, such as the entrance and exit ends of the cement rotary kilns, to generate electricity.

CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG) Recent Trading Information

CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG) closed its last trading session 00.00 at 1.60 with 22,041 shares trading hands.