ChinaSecurities

China Recycling Energy Corporation, through its subsidiary Shanghai TCH Energy Technology Co., Ltd, engages in the design, sale, installation, and operation of waste-toenergy technologies and other renewable energy products. It develops and constructs recovered energy power systems, such as TRT (blast-furnace top pressure recovery turbine unit), CHPG (power generation by recovering cement residual heat without additional fuel), GTPG (gas turbine power generation), and CGGE (comprehensive utilization of coal gangue generating electricity. The company is based in Xian, China.

Q408 revenue increased 189.7% yoy to $12.3 million. Net income increased 190% to $2.4 million, or $0.04 per share. Management guidance for 2009 calls for revenue ranging from $33-36 million and net income of $8 million. On April 6, the company signed a JV Erdos Metallurgy. Pursuant to agreement company will have 11 energy-recycling systems which expected to generate $38 million revenue per year. The first system is expected to be completed and start to generation by Oct 09 which have annual revenue about $2.9 million for next 20 years.