<SEC-DOCUMENT>0001209191-12-026792.txt : 20120508
<SEC-HEADER>0001209191-12-026792.hdr.sgml : 20120508
<ACCEPTANCE-DATETIME>20120508204707
ACCESSION NUMBER:		0001209191-12-026792
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120502
FILED AS OF DATE:		20120508
DATE AS OF CHANGE:		20120508

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		12TH FLOOR, TOWER A, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068
		BUSINESS PHONE:		86-29-8765-1097

	MAIL ADDRESS:	
		STREET 1:		12TH FLOOR, TOWER A, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068

	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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carlyle Group L.P.
		CENTRAL INDEX KEY:			0001527166
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		12823480

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP
		STREET 2:		1001 PENNSYLVANIA AVENUE, N.W.
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004
		BUSINESS PHONE:		202 729 5626

	MAIL ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP
		STREET 2:		1001 PENNSYLVANIA AVENUE, N.W.
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carlyle Group Management L.L.C.
		CENTRAL INDEX KEY:			0001548624
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1212

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		12823481

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505
		BUSINESS PHONE:		202-729-5626

	MAIL ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carlyle Holdings II GP L.L.C.
		CENTRAL INDEX KEY:			0001548629
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1212

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		12823482

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505
		BUSINESS PHONE:		202-729-5626

	MAIL ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carlyle Holdings II L.P.
		CENTRAL INDEX KEY:			0001548630
		STATE OF INCORPORATION:			A8
		FISCAL YEAR END:			1212

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		12823478

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505
		BUSINESS PHONE:		202-729-5626

	MAIL ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TC Group Cayman Investment Holdings Sub L.P.
		CENTRAL INDEX KEY:			0001548636
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1212

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		12823479

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505
		BUSINESS PHONE:		202-729-5626

	MAIL ADDRESS:	
		STREET 1:		C/O THE CARLYLE GROUP L.P.
		STREET 2:		1001 PENNSYLVANIA AVENUE, NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004-2505
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>c28599_3x2.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0205</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2012-05-02</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000721693</issuerCik>
        <issuerName>CHINA RECYCLING ENERGY CORP</issuerName>
        <issuerTradingSymbol>CREG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001548624</rptOwnerCik>
            <rptOwnerName>Carlyle Group Management L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE CARLYLE GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PENNSYLVANIA AVE. NW, SUITE 220S</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001527166</rptOwnerCik>
            <rptOwnerName>Carlyle Group L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE CARLYLE GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PENNSYLVANIA AVE. NW, SUITE 220S</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001548629</rptOwnerCik>
            <rptOwnerName>Carlyle Holdings II GP L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE CARLYLE GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PENNSYLVANIA AVE. NW, SUITE 220S</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001548630</rptOwnerCik>
            <rptOwnerName>Carlyle Holdings II L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE CARLYLE GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PENNSYLVANIA AVE. NW, SUITE 220S</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001548636</rptOwnerCik>
            <rptOwnerName>TC Group Cayman Investment Holdings Sub L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WALKER CORPORATE SERVICES LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>WALKER HOUSE, 87 MARY STREET</rptOwnerStreet2>
            <rptOwnerCity>GEORGE TOWN, GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>KY1-9001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12465938</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Following an internal reorganization, the reporting persons, by reason of the relationships described below, may be deemed to be the beneficial owners of the shares reported herein and held of record by Carlyle Asia Growth Partners III, L.P. and CAGP III Co-Investment, L.P. (together, the &quot;Record Holders&quot;). Each of the reporting persons expressly disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.</footnote>
        <footnote id="F2">The indirect parent of the Record Holders is now TC Group Cayman Investment Holdings Sub L.P. The general partner of TC Group Cayman Investment Holdings Sub L.P. is  TC Group Cayman Investment Holdings, L.P. The general partner of  TC Group Cayman Investment Holdings, L.P. is Carlyle Holdings II L.P. The general partner of Carlyle Holdings II L.P. is Carlyle Holdings II GP L.L.C. The managing member of Carlyle Holdings II GP L.L.C. is The Carlyle Group L.P. The general partner of The Carlyle Group L.P. is Carlyle Group Management L.L.C., which is managed by an eight person board of directors, with all board action relating to the voting or disposition of these shares requiring approval of a majority of the board. All members of the board of directors expressly disclaim beneficial ownership of the shares reported herein.</footnote>
    </footnotes>

    <remarks>Exhibit List:

Exhibit 24 - Confirming Statement
Exhibit 99 - Joint Filer Information</remarks>

    <ownerSignature>
        <signatureName>/s/ R. Rainey Hoffman, attorney-in-fact for Daniel A. D?Aniello, Chairman</signatureName>
        <signatureDate>2012-05-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>c28599_24.htm
<DESCRIPTION>POWER OF ATTORNEY
<TEXT>
<html>
<head>
<title>Power of Attorney</title>
</head>

<body>

</body></title></head></html><DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">

<P style="font-size: 10pt" align="right"><B>Exhibit&nbsp;24</B>

<P style="font-size: 10pt" align="center"><U><B>POWER OF ATTORNEY</B></U>

<P style="text-indent: 4%; font-size: 10pt" align="left">The undersigned
understands that, from time to time, the Carlyle Companies (defined below) are
required to prepare, execute and file certain federal and state securities laws
filings.

<P style="text-indent: 4%; font-size: 10pt" align="left">Know all by these
presents, that the undersigned hereby constitutes and appoints each of Curt
Buser, Jeff Ferguson, David Pearson, Catherine Ziobro, R. Rainey Hoffman,
Joanne Cosiol, Monica Harris, Jeremy Anderson, Bruno De Gusmao, Ann Siebecker,
Andrea Pekala, Tom Mayrhofer, Orit Mizrachi, John Beczak, Rick Kappler, Matt
LoRusso, Rob Konigsberg, James Sloan, Anne Frederick, Norma Kuntz, Victoria
Jong, Erica Herberg or any of them signing singly, and with full power of
substitution, the undersigned&#8217;s true and lawful attorney-in-fact to:

<P style="margin-left: 4%; font-size: 10pt" align="left">(1)&nbsp;prepare,
execute in the name of each Carlyle Company and on behalf of each Carlyle
Company, and submit to the U.S. Securities and Exchange Commission (the
&#8220;SEC&#8221;) a Form&nbsp;ID, including amendments thereto, and any other
documents necessary or appropriate to obtain codes and passwords enabling the
undersigned to make electronic filings with the SEC of Forms D
(&#8220;Form&nbsp;D&#8221;) required to be filed in accordance with
Rule&nbsp;503 (&#8220;Rule&nbsp;503&#8221;) promulgated with respect to
Sections&nbsp;4(2), 4(6) and 3(b) of the Securities Act of 1933 (the
&#8220;1933 Act&#8221;) and reports required by Sections 13(d) and 16(a) of the
Securities Exchange Act of 1934 (the &#8220;1934 Act&#8221;) or any rule or
regulation of the SEC;

<P style="margin-left: 4%; font-size: 10pt" align="left">(2)&nbsp;prepare and
execute for and on behalf of each Carlyle Company, in the undersigned&#8217;s
capacity as a Chairman, authorized person, officer and/or director of each
Carlyle Company, federal and state securities laws filings including without
limitation Forms D pursuant to Rule&nbsp;503 and Schedules 13D and 13G and
Forms 3, 4, and 5 in accordance with Sections 13(d) and 16(a) of the 1934 Act
and the rules thereunder;

<P style="margin-left: 4%; font-size: 10pt" align="left">(3)&nbsp;do and
perform any and all acts for and on behalf of each Carlyle Company which may be
necessary or desirable to complete and execute any such federal and state
securities laws filings including without limitation Forms D, Schedules 13D and
13G and Forms 3, 4, and 5, complete and execute any amendment or amendments
thereto, and timely file such form with the SEC and the securities
administrators of any state, the District of Columbia, the Commonwealth of
Puerto Rico, Guam and the United States Virgin Islands or their designees and
any stock exchange or similar authority; and

<P style="margin-left: 4%; font-size: 10pt" align="left">(4)&nbsp;take any
other action of any type whatsoever in connection with the foregoing which, in
the opinion of such attorney-in-fact, may be of benefit to, in the best
interest of, or legally required by, the undersigned, it being understood that
the documents executed by such attorney-in-fact on behalf of the undersigned
pursuant to this Power of Attorney shall be in such form and shall contain such
terms and conditions as such attorney-in-fact may approve in such
attorney-in-fact&#8217;s discretion.

<P style="text-indent: 4%; font-size: 10pt" align="left">The undersigned hereby
grants to each such attorney-in-fact full power and authority to do and perform
any and every act and thing whatsoever requisite, necessary, or proper to be
done in the exercise of any of the rights and powers herein granted, as fully
to all intents and purposes as the undersigned might or could do if personally
present, with full power of substitution or revocation, hereby ratifying and
confirming all that such attorney-in-fact, or such attorney-in-fact&#8217;s
substitute or substitutes, shall lawfully do or cause to be done by virtue of
this power of attorney and the rights and powers herein granted, whether the
same needs to be executed, taken or done by him in his capacity as a current or
former member, partner, shareholder, director or officer of any company,
partnership, corporation, organization, firm, branch or other entity connected
with, related to or affiliated with any of the entities constituting the
Carlyle Companies or entities that directly or indirectly hold interests in the
Carlyle Companies.

<P style="text-indent: 4%; font-size: 10pt" align="left">The undersigned
acknowledges that the foregoing attorneys-in-fact, in serving in such capacity
at the request of the undersigned, are not assuming any of the
undersigned&#8217;s responsibilities to comply with federal and state
securities laws, including without limitation Rule&nbsp;503 of the 1933 Act or
Section&nbsp;13 and Section&nbsp;16 of the 1934 Act.

<P style="text-indent: 4%; font-size: 10pt" align="left">This Power of Attorney
and all authority conferred hereby shall not be terminated by operation of law,
whether by the death or incapacity of the undersigned or by occurrence of any
other event. Actions taken by an attorney-in-fact pursuant to this Power of
Attorney shall be as valid as if any event described in the preceding sentence
had not occurred, whether or not the attorney-in-fact shall have received
notice of such event. Notwithstanding the foregoing, (i)&nbsp;in the event that
an attorney-in-fact is no longer employed by The Carlyle Group Employee Co.,
L.L.C. or its affiliates, this Power of Attorney and all authority conferred
hereby shall be immediately terminated with respect to such Attorney, and
(ii)&nbsp;the undersigned may terminate or revoke this Power of Attorney at any
time.

<P style="text-indent: 4%; font-size: 10pt" align="left">For purposes hereof,
the &#8220;Carlyle Companies&#8221; shall consist of: (i)&nbsp;Carlyle Group
Management L.L.C., The Carlyle Group L.P., Carlyle Holdings I GP Inc., Carlyle
Holdings I GP Sub L.L.C., Carlyle Holdings I L.P., Carlyle Holdings II GP
L.L.C., Carlyle Holdings II L.P., Carlyle Holdings III GP Management L.L.C.,
Carlyle Holdings III GP L.P., Carlyle Holdings III GP Sub L.L.C., Carlyle
Holdings III L.P., TC Group Sub L.P., TC Group Investment Holdings Sub L.P., TC
Group Cayman Investment Holdings Sub L.P., TC Group Cayman Sub L.P. and
(ii)&nbsp;the subsidiaries and affiliates of the foregoing in clause (i),
including without limitation investment funds sponsored directly or indirectly
by one or more of the Carlyle Companies.

<P style="text-indent: 4%; font-size: 10pt" align="left">IN WITNESS WHEREOF,
the undersigned has caused this Power of Attorney to be executed as of this
8<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of May,
2012.

<P style="margin-left: 45%; font-size: 10pt" align="left"><U>/s<B>/ </B>Daniel
A. D&#8217;Aniello</U> <BR>
Name: Daniel A. D&#8217;Aniello <BR>
Title: Chairman

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">&nbsp;
</DIV>

</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>c28599_99.htm
<DESCRIPTION>ADDITIONAL EXHIBITS
<TEXT>
  <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">  <html>
<head>
<title>Joint Filing Agreement</title>
</head>

<body>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt">Exhibit&nbsp;99
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Joint Filer Information</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date of Event</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Requiring Statement:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;2, 2012</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Issuer Name and Ticker</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">or Trading Symbol:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">China Recycling Energy Corporation &#091;CREG&#093;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Designated Filer:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Carlyle Group Management L.L.C.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Other Joint Filers:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Carlyle Group, L.P.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Carlyle Holdings II GP L.L.C.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Carlyle Holdings II L.P.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">TC Group Cayman Investment Holdings Sub L.P.</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Addresses:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The address of TC Group Cayman Investment Holdings Sub L.P. is c/o Walker
Corporate Services Limited, Walker House, 87 Mary Street, George Town, Grand Cayman
KY1-9001, Cayman Islands. The address of each of the other reporting persons is c/o The
Carlyle Group, 1001 Pennsylvania Ave., N.W., Suite&nbsp;220 South, Washington, DC
20004-2505.</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Signatures:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Dated: May&nbsp;8, 2012
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CARLYLE GROUP MANAGEMENT L.L.C.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ R. Rainey Hoffman, attorney-in-fact
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel D'Aniello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE CARLYLE GROUP L.P.</B><BR>
<FONT style="white-space: nowrap">By: Carlyle Group Management L.L.C., its general partner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ R. Rainey Hoffman, attorney-in-fact
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel D'Aniello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CARLYLE HOLDINGS II GP L.L.C.</B><BR>
By: The Carlyle Group L.P., its managing member<BR>
<FONT style="white-space: nowrap">By: Carlyle Group Management L.L.C., its general partner</FONT><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ R. Rainey Hoffman, attorney-in-fact
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel D'Aniello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CARLYLE HOLDINGS II L.P.</B><BR>
<FONT style="white-space: nowrap">By: Carlyle Holdings II GP L.L.C., its general partner</FONT><BR>
By: The Carlyle Group L.P., its managing member<BR>
<FONT style="white-space: nowrap">By: Carlyle Group Management L.L.C., its general partner</FONT><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ R. Rainey Hoffman, attorney-in-fact
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel D'Aniello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>TC GROUP CAYMAN INVESTMENT HOLDINGS SUB L.P.</B><BR>
<FONT style="white-space: nowrap">By: TC Group Cayman Investment Holdings, L.P., its general partner</FONT><BR>
By: Carlyle Holdings II L.P., its general partner<BR>
By: Carlyle Holdings II GP L.L.C., its general partner<BR>
By: The Carlyle Group L.P., its managing member<BR>
By: Carlyle Group Management L.L.C., its general partner<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ R. Rainey Hoffman, attorney-in-fact
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel D'Aniello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>





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