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Actionable news in CREG: China Recycling Energy Corporation,

Entry into a Material Definitive

On November 16, 2015, Xian TCH Energy Technology Co., Ltd (Xian TCH), a wholly owned subsidiary of China Recycling Energy Corporation (the Company) entered into a Transfer Agreement of CDQ & Waste Heat Power Generation Project (the Transfer Agreement) with Tangshan Rongfeng Iron & Steel Co., Ltd., a limited liability company incorporated in China (the Buyer), and Xian Huaxin New Energy Co., Ltd., a limited liability company incorporated in China (the Contractor). Xian TCH originally entered into a Coke Dry Quenching (CDQ) Power Generation Energy Management Cooperative Agreement (the Cooperative Agreement) with the Buyer on December 12, 2013 to design, build and maintain CDQ waste heat power generation system and sell the power to the Buyer, as disclosed in the Form 8-K filed on December 17, 2013.

The Transfer Agreement provides for the sale to the Buyer of the CDQ Waste Heat Power Generation Project (the "Project") from Xian TCH. Additionally, Xian TCH will transfer to the Buyer the Engineering, Procurement and Construction (EPC) Contract for the CDQ Waste Heat Power Generation Project which Xian TCH had entered into with the Contractor in connection with the Project. As consideration for the transfer of...


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