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):
April 13,
2009
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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Suite
909, Tower B
Chang An
International Building
No. 88
Nan Guan Zheng Jie
Xi An
City, Shan Xi Province
China
710068
(Address of principal executive
offices, including zip code)
(86-29)
8769-1097
(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
1.01. Entry
into a Material Definitive Agreement
On April
13, 2009, China Recycling Energy Corporation announced that its wholly owned
subsidiary, Xi’an TCH Energy Technology Co., Ltd (“Xi’an TCH”),
entered into a short-term working capital loan agreement (the “Loan Agreement”)
with Industrial Bank Co., Ltd., Xi’an Branch (the “Lender”), whereby the Lender
has agreed to loan RMB 20,000,000 (approximately $2,941,176) to Xi’an TCH for a
term of one year. The Loan Agreement has a fixed annual interest rate of 5.31%,
and Xi’an TCH is required to make quarterly interest payments on the outstanding
loan balance. The Loan Agreement contains standard representations,
warranties and covenants, and the borrowed funds are to be guaranteed through a
separate guaranty contract with Shanxi Zhongze Investment Co., Ltd.
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: April 16,
2009
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/s/
Xinyu Peng
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Xinyu Peng, Chief Financial
Officer
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