CREG Smart Power Corporation

XI'AN, China, June 16, 2013 /PRNewswire-FirstCall/ -- China Recycling Energy Corp. (NASDAQ: CREG or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced that it will be holding its 2013 Annual Meeting of Stockholders on Wednesday, June 19, 2013, at 10:00 a.m. local time in China (10:00 p.m. Tuesday, June 18th Eastern time).

The meeting will be held at its principal executive office, located at 12/F, Tower A, Chang An International Building, No. 88 Nan Guan Zheng Jie, Xi'an City, Shaanxi Province, 710068 China. Stockholders of record at the close of business on May 10, 2013 are entitled to receive notice of and to vote at the 2013 Annual Meeting and any adjournments thereof. Among the issues to consider and act upon are the following:

1.     To elect seven directors, each to serve until the 2014 Annual Meeting of Stockholders;

2.     To ratify the appointment of Goldman Kurland Mohidin, LLP as the Company's independent         registered public accounting firm for the fiscal year ending December 31, 2013; and

3.     To conduct an advisory vote on the compensation of our named executive officers;

4.     To conduct an advisory vote on the frequency of future advisory votes on the compensation of         our named executive officers; and

5.     To transact such other business as properly may come before the annual meeting or any         adjournments thereof.  The Board of Directors is not aware of any other business to be         presented to a vote of the stockholders at the annual meeting.

To attend the meeting by phone, local shareholders should dial 029-96146 and choose language then press 2 for fixed conference. Please enter conference number: 10710 and PIN number: 5858.

For international shareholders to attend the meeting by phone, please dial +86 29 96146 (non-US) or 011 86 29 96146 (US) and choose language then press 2 for fixed conference. Please enter conference number: 10710 and PIN number: 5858.

About China Recycling Energy Corp.

China Recycling Energy Corp. (NASDAQ: CREG or "the Company") is based in Xi'an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1% of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China. For more information about CREG, please visit http://www.creg-cn.com.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

SOURCE China Recycling Energy Corp.