XI'AN, China, January 27, 2015 /PRNewswire/ -- China Recycling Energy Corp. (NASDAQ: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced that members of its senior management team, including its Chairman and CEO Mr. Guohua Ku and other senior management members, intend to use their personal funds to purchase shares of the Company up to an aggregate of US$3 million in the open market within 12 months from January 27, 2015, pursuant and subject to the restrictions of, and consistent with, applicable laws and regulations as well as the Company's insider trading policy.
Mr. Guohua Ku, Chairman and CEO of CREG commented, "This share purchase plan demonstrates our management team's strong confidence in the long-term prospects of the Company and reflects our commitment to continue to execute our proven strategy and deliver long-term shareholder value. Interest income on sales-type leases, the sustainable recurring revenue stream for the Company, maintained its solid growth momentum in the past quarter and we expect to build on this in 2015 and beyond."
About China Recycling Energy Corp.
China Recycling Energy Corp. (NASDAQ: CREG or "the Company") is based in Xi'an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1 percent of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China. For more information about CREG, please visit http://www.creg-cn.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Mr. David Chong, Chief Financial Officer
China Recycling Energy Corp.
Tel: +86-137-0181 3139; +65-9721 6163
Email: chongscd@creg-cn.com
Christensen
Ms. Xiaoyan Su (China)
Vice President
Tel: +86-10-5900-1548
Email: xsu@christensenir.com
Mr. Christian Arnell (China)
Vice President
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
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