China Recycling Energy Corporation is engaged in the recycling energy business, providing energy savings and recycling products and services. The Company is a developer of waste energy recycling projects for industrial applications in China. Its business is primarily conducted through the wholly-owned subsidiary, Sifang Holdings and its wholly-owned subsidiaries, Huahong New Energy Technology Co., Ltd. (Huahong) and Shanghai TCH, Shanghai TCH�s wholly-owned subsidiaries, Xi�an TCH Energy Technology Company, Ltd (Xian TCH) and Xingtai Huaxin Energy Tech Co., Ltd. (Huaxin), and Xi�an TCH�s subsidiary Erdos TCH Energy Saving Development Co., Ltd (Erdos TCH). In October 2011, the Company expanded its waste-to-energy project portfolio with the acquisition of a 12 megawatts biomass power generation system from Shenqiu Yuneng Thermal Power Co., Ltd. In June 2011, the system of the project ZhongBao was sold to and leased back from Cinda Financial Leasing Co., Ltd.