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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001010549-08-000155.txt : 20080306
<SEC-HEADER>0001010549-08-000155.hdr.sgml : 20080306
<ACCEPTANCE-DATETIME>20080306170637
ACCESSION NUMBER:		0001010549-08-000155
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061231
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
FILED AS OF DATE:		20080306
DATE AS OF CHANGE:		20080306

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA RECYCLING ENERGY CORP
		CENTRAL INDEX KEY:			0000721693
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				900093373
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12536
		FILM NUMBER:		08671775

	BUSINESS ADDRESS:	
		STREET 1:		429 GUANGDONG ROAD
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200001
		BUSINESS PHONE:		86-21 6336-8686

	MAIL ADDRESS:	
		STREET 1:		429 GUANGDONG ROAD
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA DIGITAL WIRELESS INC
		DATE OF NAME CHANGE:	20040810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER ACQUISITIONS  INC
		DATE OF NAME CHANGE:	20020430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER BREWING CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>

<head>
<title>China Recycling Energy Corporation: Form 8-K</title>
</head>


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<b><font size="5">UNITED STATES <br>
SECURITIES AND EXCHANGE COMMISSION <br>
</font><font size="2">Washington, DC 20549 <br>
</font>____________________</b></p>
<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b><font size="5">FORM 8-K</font></b><b><br>
____________________</b></p>


<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b><font size="2">CURRENT REPORT </font></b></p>
<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b><font size="2">Pursuant to Section&nbsp;13 or 15(d) of The Securities Exchange Act
of 1934 </font></b></p>
<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b><font size="2">Date of Report (Date of earliest event reported): <br>
March 5, 2008</font></b></p>
<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b><font size="5">CHINA RECYCLING ENERGY CORPORATION <br>
</font><font size="2">(Exact name of registrant as specified in its charter)
</font></b></p>
<table style="border-collapse: collapse; margin-left: 0pt" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%">
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    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="19">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="19">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="19">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="19">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="19">
    &nbsp;</td>
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    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <b>Nevada</b></td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="15">
    <p style="font-size: 7.5pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="15">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <b>000-12536</b></td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="15">
    <p style="font-size: 7.5pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="15">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <b>90-0093373</b></td>
  </tr>
  <tr>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="15">
    <p style="color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <font size="2">(State or other jurisdiction of incorporation)</font></td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="15">
    <p style="font-size: 7.5pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="15">
    <p style="color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <font size="2">(Commission File Number)</font></td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="5%" height="15">
    <p style="font-size: 7.5pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="30%" height="15">
    <p style="color: #000000; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; padding: 0pt" align="center">
    <font size="2">(IRS Employer Identification No.)</font></td>
  </tr>
  </table>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b>429 Guangdong Road<br>
Shanghai 200001<br>
People's Republic of China<br>
</b><font size="2">&nbsp;(Address of principal executive offices, including zip code)
</font></p>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b>(86-21) 6336-8686 <br>
</b><font size="2">(Registrant's telephone number, including area code) </font>
</p>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="center">
<b>Not Applicable <br>
</b><font size="2">(Former name or former address, if changed since last report.)
</font></p>
<p style="color: #000000; text-indent: 0pt; margin-left: 0pt; padding: 0pt" align="justify">
<font size="2">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): </font>
</p>
<font lang="JA" face="Wingdings 2" size="3">
<p>&#163;</font><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font>
<font lang="JA" face="Sim Sun" size="3"></p>
</font><font lang="JA" face="Wingdings" size="3">
<p><font lang="JA" face="Wingdings 2" size="3">&#163;</font><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face="Times New Roman" size="2">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font>
<font lang="JA" face="Sim Sun" size="3"></p>
</font><font lang="JA" face="Wingdings" size="3">
<p><font lang="JA" face="Wingdings 2" size="3">&#163;</font><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face="Times New Roman" size="2">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) </font><font lang="JA" face="Sim Sun" size="3"></p>
</font><font lang="JA" face="Wingdings" size="3">
<p><font lang="JA" face="Wingdings 2" size="3">&#163;</font><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face="Times New Roman" size="2">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) </font><font lang="JA" face="Sim Sun" size="3"></p>
</font><hr color="#000000" SIZE="5"><font FACE="Times New Roman" SIZE="2"><b>
<p>Item 4.02. Non-Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review </p>
</b>
<p style="text-indent: 30" align="justify">China Recycling Energy Corporation
(&quot;Company&quot;) concluded on March 05, 2008 and announced on March 05, 2008 that it
would restate its financial statement for fiscal year ended December 31, 2006,
contained in the Form 10-KSB annual report filed on April 13, 2007. </p>
<p style="text-indent: 30" align="justify">Accordingly, the Company's prior Form
10-KSB Annual Report for Fiscal Year ended December 31, 2006 should no longer be
relied upon. </p>
<p style="text-indent: 30" align="justify">The decision to restate the Company's
financial statements was made by the Board of Directors on March 5, 2008,
following consultation with, and upon the recommendation of, management. The
Company has discussed the need to restate the previously issued financial
statements and the matters disclosed in this filing with Zhong Yi (Hong Kong)
C.P.A. Company Limited (&quot;Zhong Yi&quot;), the Company's independent registered public
accounting firm, and Zhong Yi has concurred with the decision of the Board to
proceed with the restatement. The Company's decision to restate was made in
connection with a review of the Company's most recent Form 10-KSB by the
Corporation Finance Division of the U.S. Securities and Exchange Commission
(SEC). </p>
<p style="text-indent: 30" align="justify">The restatement will include changes
to the impairment loss from Company's operations. </p>
<p ALIGN="JUSTIFY" style="text-indent: 30">While the information contained
herein describes all of the items for which the Company and Zhong Yi have
determined a restatement is appropriate at this time, there can be no assurance
that further review and inquiry of the Company's financial statements will not
identify additional items. </p>
<b>
<p>Forward Looking Statements </p>
</b>
<p style="text-indent: 30" align="justify">Statements contained in this Form 8-K
relating to the Company's or management's intentions, hopes, beliefs,
expectations or predictions of the future, including statements with the words
&quot;expects&quot;, &quot;will&quot;, &quot;intends&quot; and &quot;may&quot; and statements relating to its expected
adjustments to previously reported financial results, are forward-looking
statements. The Company's actual results, including the items and amounts
actually restated, and the timing of the completion of the restatement and
related audit, could differ materially from those projected in these
forward-looking statements. The actual items and amounts restated, and the
actual timing of completion of the restatement and related audit, will depend on
a number of factors, including any additional discussions with the SEC, the
completion of the work underlying the restatement by the Company and the audit
and review of the underlying work and restated financial statements by Zhong Yi.
Additional information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is contained from
time to time in the Company's SEC filings. The Company disclaims any intention
or obligation to revise any forward-looking statements, including financial
estimates, whether as a result of new information, future events or otherwise.
</p>
</font>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt">
<br>
&nbsp;</p>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt" align="center">
<b>SIGNATURES </b></p>
<p style="font-size: 10pt; color: #000000; text-indent: 24.5pt; line-height: 12pt; margin-left: 0pt; margin-top: 7.5pt; margin-bottom: 0pt; padding: 0pt">
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. </p>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt">
&nbsp;</p>
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    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; margin: 0pt; padding: 0pt" align="center">
    China Recycling Energy Corporation</td>
  </tr>
  <tr>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    &nbsp;</td>
  </tr>
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    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; margin: 0pt; padding: 0pt">
    Date: March 5, 2008</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; border-bottom: 0.75pt solid #000000; margin-left: 0pt; margin-right: 0pt; margin-top: 4.15pt; margin-bottom: 0.65pt; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; padding-bottom: 3pt" align="center">
    /s/Guangyu Wu</td>
  </tr>
  <tr>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    &nbsp;</td>
    <td style="padding-left: 7.2pt; padding-right: 7.2pt; padding-top: 0pt; padding-bottom: 0pt" vAlign="top" align="left" width="50%">
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; margin: 0pt; padding: 0pt" align="center">
    Guangyu Wu</p>
    <p style="font-size: 10pt; color: #000000; text-indent: 0pt; line-height: 12pt; margin-left: 0pt; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0.65pt; padding: 0pt" align="center">
    Chief Executive Officer</td>
  </tr>
</table>
<p style="font-size: 10pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt">
&nbsp;</p>
<p style="font-size: 12pt; color: #000000; text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt">
&nbsp;</p>
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