China Recycling Energy Corporation Regains Compliance with NASDAQBid Price Requirement
XI'AN, China, June 15, 2016 (GLOBENEWSWIRE) -- China Recycling Energy Corporation. (CREG) ("CREG" or"the Company"), a leading industrial waste-to-energy solutionprovider in China, is pleased to announce that it has regained compliance withNasdaq's minimum bid price requirement. On June 14, 2016, the Company receiveda letter from the Nasdaq Listing Qualifications Staff indicating that theCompany has regained compliance with the $1.00 minimum bid price requirementfor continued listing on the Nasdaq Capital Market pursuant to Nasdaq ListingRule 5550(a)(2) (the "Minimum Bid Price Requirement"). The closing bid price of the Company'sordinary shares have been at $1.00 per share or greater for at least 10consecutive business days. Accordingly, the Company has regained compliancewith the Minimum Bid Price Requirement.
AboutChina Recycling Energy Corp.
China Recycling Energy Corp. (CREG)("CREG" or "the Company") is based in Xi'an, China andprovides environmentally friendly waste-to-energy technologies to recycleindustrial byproducts for steel mills, cement factories and coke plants inChina. Byproducts include heat, steam, pressure, and exhaust to generate largeamounts of lower-cost electricity and reduce the need for outside electricalsources. The Chinese government has adopted policies to encourage the use ofrecycling technologies to optimize resource allocation and reduce pollution.Currently, recycled energy represents only an estimated 1 percent of totalenergy consumption and this renewable energy resource is viewed as a growthmarket due to intensified environmental concerns and rising energy costs as theChinese economy continues to expand. The management and engineering teams haveover 20 years of experience in industrial energy recovery in China. For moreinformation about CREG, please visit http://creg-cn.com.
SafeHarbor Statement
This press release may contain certain"forward-looking statements" relating to the business of ChinaRecycling Energy Corp. and its subsidiary companies. All statements, other thanstatements of historical fact included herein are "forward-lookingstatements." These forward-looking statements are often identified by theuse of forward-looking terminology such as "believes,""expects" or similar expressions, involve known and unknown risks anduncertainties. Although the Company believes that the expectations reflected inthese 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 actualresults could differ materially from those anticipated in these forward-lookingstatements as a result of a variety of factors, including those discussed inthe Company's periodic reports that are filed with the Securities and ExchangeCommission and available on its website at http://www.sec.gov. Allforward-looking statements attributable to the Company or persons acting on itsbehalf are expressly qualified in their entirety by these factors. Other thanas required under the securities laws, the Company does not assume a duty toupdate these forward-looking statements.
For more information, please contact:
Mr. Jackie Shi, Chief Financial Officer
China Recycling Energy Corp.
Tel: +86- 139 9287 0723
Email: shi723910@163.com /shi723@creg-cn.com
