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):
December 10,
2008
CHINA RECYCLING ENERGY
CORPORATION
(Exact
name of registrant as specified in its charter)
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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
December 10, 2008, China Recycling Energy Corporation (the “Company”) received
the resignation of Guangyu Wu, Chief Executive Officer, effective
immediately. Mr. Wu also resigned as a member of the Company’s Board
of Directors and as Secretary. Mr. Wu’s resignation was not
precipitated by a disagreement over any matter relating to the
Company’s operations, policies or practices.
On
December 10, 2008, the Board of Directors approved the appointment of Xinyu
Peng, the Company’s Chief Financial Officer, as Secretary and Guohua Ku, age 47,
as Chief Executive Officer and as a member of the Board of Directors of the
Company to replace Mr. Wu, effective December 10, 2008. Prior to
joining the Company, Mr. Ku served as a Senior Engineer for Yingfeng Technology
from 2003 to 2007. From 1979 to 2003, Mr. Ku served in multiple
capacities for Shan Xi Blast Air Blower (Group) Co., Ltd., with his last
position serving as a Senior Engineer.
In
connection with his appointment as Chief Executive Officer, the Company entered
into an employment agreement with Mr. Ku. The employment agreement
provides that Mr. Ku will receive compensation in the amount of $1,850 per
month during a one month probationary period and $2,650 per month thereafter.
The term of the employment agreement is for two years.
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:
December 10, 2008
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Xinyu
Peng, Chief Financial Officer
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