China Recycling Energy Corporation (CREG), formerly China Digital Wireless, Inc., is engaged in the recycling energy business, providing energy saving and recycling products and services. The Company’s business is primarily conducted through its wholly owned subsidiary, Sifang Holdings Co., Ltd. (Sifang Holdings) and its wholly owned subsidiaries, Shanghai TCH Energy Technology Co., Ltd. (Shanghai TCH) and Shanghai TCH’s wholly subsidiaries, Xi'an TCH Energy Technology Company, Ltd (Xi'an TCH) and Xingtai Huaxin Energy Tech Co., Ltd. (Huaxin). Under the joint-operation agreement, Shanghai TCH and Xi’an Yingfeng Science and Technology Co., Ltd. (Yingfeng) jointly pursued a gas recovery turbine project (Project) to design, construct, install and operate a top gas recovery turbine systems (TRT) system in Xingtai Iron and Steel Company, Ltd. (Xingtai).