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china recycling energy corp (CREG) Details

China Recycling Energy Corporation engages in the recycling energy business in China. It designs, finances, constructs, operates, and transfers waste energy recycling projects to mid- to large-size enterprises involved in high energy-consuming businesses. The company offers waste pressure-to-energy solutions, including the blast furnace top gas recovery turbine unit, a system that utilizes high pressure gas emitted from the blast furnace top to drive turbine units and generates electricity; and waste heat-to-energy solutions, such as heat power generation projects for applications in cement, steel, coking coal, and nonferrous metal industries, which collect the residual heat from various manufacturing processes. It also provides waste gas-to-energy solutions comprising the waste gas power generation system that utilizes flammable waste gas from coal mining, petroleum exploitation, refinery processing, or other sources as a fuel source to generate electricity; and the combined cycle power plant, which employs power generating cycle to utilize the waste gas that generates electricity by burning the flammable waste gas in a gas turbine, as well as uses the waste heat from burning the gas to make steam to generate additional electricity through a steam turbine. In addition, the company offers biomass power generation systems (BMPG); and waste heat power generation (WHPG) systems; and project investment, investment management, economic information consulting, technical, and financial leasing services, as well as leases energy saving systems and equipment. As of December 31, 2017, it had five recycling WHPG systems and four BMPG systems. The company was formerly known as China Digital Wireless, Inc. and changed its name to China Recycling Energy Corporation in March 2007. China Recycling Energy Corporation was incorporated in 1980 and is headquartered in Xi’an, China.

20 Employees
Last Reported Date: 04/16/19
Founded in 1980

china recycling energy corp (CREG) Top Compensated Officers

Chairman & CEO
Total Annual Compensation: $33.1K
CFO & Secretary
Total Annual Compensation: $22.1K
VP & Executive Director
Total Annual Compensation: $27.6K
Compensation as of Fiscal Year 2018.
china recycling energy corp
China Recycling Energy Receives Non-Compliance Letter From The Nasdaq Stock Market

On May 28, 2019, China Recycling Energy Corporation received a letter from the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer meets the minimum bid price requirement for continued listing on Nasdaq under Nasdaq Marketplace Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”). The notification has no immediate effect on the listing of the Company’s common stock. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, until November 25, 2019 (the “Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. If at any time before the expiration of the Compliance Period the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance by the end of the Compliance Period, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting. The Company intends to continue actively monitoring the bid price for its common stock between now and the expiration of the Compliance Period and will consider all available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement.

Shareholders To Sell Stake In China Recycling

China Recycling Energy Corporation (NasdaqCM:CREG) said selling shareholders may offer and sell up to 5.7 million shares of common stock.

China Recycling Energy Corporation Reports Earnings Results for the First Quarter Ended March 31, 2019

China Recycling Energy Corporation announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced total revenue was USD 795,409 compared to USD 3.029 million a year ago. Operating loss was USD 647,411 compared to operating Income of USD 1.523 million a year ago. Net loss was USD 1.942 million compared to USD 114,237 a year ago. Basic loss per share was USD 0.16 compared to USD 0.01 a year ago.

 

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