<SEC-DOCUMENT>0001213900-19-008837.txt : 20190515
<SEC-HEADER>0001213900-19-008837.hdr.sgml : 20190515
<ACCEPTANCE-DATETIME>20190515162738
ACCESSION NUMBER:		0001213900-19-008837
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190331
FILED AS OF DATE:		20190515
DATE AS OF CHANGE:		20190515
EFFECTIVENESS DATE:		20190515

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
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34625
		FILM NUMBER:		19828664

	BUSINESS ADDRESS:	
		STREET 1:		4/F, TOWER C, RONG CHENG YUN GU BUILDING
		STREET 2:		KEJI 3RD ROAD, YANTA DISTRICT
		CITY:			XI'AN CITY, SHAANXI PROVINCE
		STATE:			F4
		ZIP:			710075
		BUSINESS PHONE:		86-29-8765-1097

	MAIL ADDRESS:	
		STREET 1:		4/F, TOWER C, RONG CHENG YUN GU BUILDING
		STREET 2:		KEJI 3RD ROAD, YANTA DISTRICT
		CITY:			XI'AN CITY, SHAANXI PROVINCE
		STATE:			F4
		ZIP:			710075

	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>NT 10-Q
<SEQUENCE>1
<FILENAME>extf10q0319_chinarecycling.htm
<DESCRIPTION>NOTIFICATION OF LATE FILING
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B><BR>
<B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
<FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 12b-25</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTIFICATION OF LATE FILING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Check one): </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#9744; Form 10-K&nbsp;&nbsp;&nbsp;&#9744; Form
20-F&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form 11-K&nbsp; &#9746;&nbsp;Form 10-Q&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form 10-D&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form
N-SAR&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form N-CSR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For Period Ended: March 31, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-size: 10pt">Transition Report on Form 10-K</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Transition Report on Form 20-F</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Transition Report on Form 11-K</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Transition Report on Form 10-Q</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Transition Report on Form N-SAR</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the Transition Period Ended:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="width: 100%; border: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 100%; border-left: black 1pt solid; border-right: black 1pt solid; padding-top: 12pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">If the notification relates to a portion of
the filing checked above, identify the Item(s) to which the notification relates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART I &mdash; REGISTRANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><U>China Recycling
Energy Corporation</U></B></FONT><BR>
<FONT STYLE="font-size: 10pt">Full Name of Registrant</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>N/A</U></B><BR>
Former Name if Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>4/F, Tower C, Rong Cheng Yun Gu Building</U></B><BR>
Address of Principal Executive Office <I>(Street and Number)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Keji 3<SUP>rd</SUP>&nbsp;Road, Yanta District,
Xi'an, China 710075</U></B><BR>
City, State and Zip Code</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART II &mdash; RULES 12b-25(b) AND (c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If the subject report could not be filed without unreasonable effort
or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-size: 10pt">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART III &mdash; NARRATIVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D,
N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Company is unable to file this Quarterly
Report on Form 10-Q for the quarter ended March 31, 2019 within the prescribed time period without unreasonable effort or expense
because additional time is required to complete the preparation of the Company's financial statements in time for filing. The Company
anticipates filing its Form 10-Q on or before the fifth calendar day following the prescribed due date.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART IV &mdash; OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Name and telephone number of person to contact in regard to this notification</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Adeline Gu</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>011-86-29</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>8765-1097</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Name)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Area Code)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Telephone Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 96%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Have all other periodic reports required under Section 13 or 15(d)
        of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for
        such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9746;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;&#9744;&nbsp;No</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Is it anticipated that any significant change in results of operations
        from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject
        report or portion thereof?</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&#9746; Yes&nbsp;&nbsp;&nbsp;&nbsp;&#9744;&nbsp;No</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If so, attach an explanation of the anticipated change, both narratively
        and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>China Recycling Energy Corporation</U></B><BR>
(Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">has caused this notification to be signed on its behalf
by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 62%; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Date: May 15, 2019</FONT></TD>
    <TD STYLE="width: 3%; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><I>/s/ Adeline Gu</I></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Adeline Gu</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Anticipated Changes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">We anticipate that we
will report the following significant changes in the results of operations from the same period of the last fiscal year:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0"><I>INTEREST INCOME ON SALES-TYPE
LEASES</I>. Interest income on sales-type leases for the three months ended March 31, 2019 was $174,235, a $1.43 million decrease
from $1.61 million for the three months ended March 31, 2018. During the three months ended March 31, 2019, interest income was
derived from two BMPG systems of Pucheng Phase I and II (15 and 11.9 years, respectively).The decreased interest income was due
to suspension of Pucheng systems, and the Company stopped accruing interest income since April 2018, which was impacted by China&rsquo;s
environmental protection policies, the operation was not yet resumed as of today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><I>NET INCOME (LOSS).</I>&nbsp;<I>NET
LOSS.</I>&nbsp;Net loss for the three months ended March 31, 2019 was $1,942,294 compared to $114,237 for the three months ended
March 31, 2018, an increase of loss of $1,828,057. This increase in net loss was mainly due to the increase non-operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0"><I>OPERATING EXPENSES.</I>&nbsp;Operating
expenses consisted of general and administrative expenses, bad debt expense totaling $1,442,820 for the three months ended March
31, 2019, compared to $1,506,231 for the three months ended March 31, 2018, a decrease of $63,411 or 4%. The decrease was mainly
due to decreased payroll expense by $44,460.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><I>NET NON-OPERATING
EXPENSES.</I> Net non-operating expenses consisted of non-sales-type lease interest income, interest expenses and miscellaneous
expenses. For the three months ended March 31, 2019, net non-operating expense was $3.69 million compared to net non-operating
expense of $1.39 million for the three months ended March 31, 2018. For the three months ended March 31, 2019, we had $41,112 interest
income but the amount was offset by $1.93 million interest expense on entrusted loan, loss on note conversion of $893,958, and
loss on disposal of systems of $1,257,170. For the three months ended March 31, 2018, we had $37,204 interest income but the amounts
were offset by a $1.42 million interest expense on loans. <I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0"><I>INCOME TAX EXPENSE.&nbsp;</I>Income tax benefit was $2.39 million
for the three months ended March 31, 2019, compared with $0.34 million income tax expense for the three months ended March 31,
2018. The consolidated effective income tax rate for the three months ended March 31, 2019 and 2018 were (55.2)% and 253.3%, respectively.&nbsp;The
increase in income tax benefit for three months ended March 31, 2019 was due to increased taxable loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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