China Recycling Energy

CREG.OB interessante Geschichte mit Carlyle Group
seekingalpha.com/article/...ion-in-china-recycling-energy-corp
Carlyle, through its 3rd Asian fund (capitalized at $668m) is investing in CREG in three stages:

   * First, a convertible note of $5m convertible into the company's stock at $1.23 per share. This represents a discount of almost 60% to today's closing price of $3.02. It must be said though, CREG's share price has almost doubled in three trading days. I guess the news must have leaked;
   * Second, a sale of shares at the per share price of $1.23, for an aggregate investment of approx. $5m; and
   * Finally, another convertible note of $15m, convertible at a share price tied to its future earnings.

The total investment, assuming all three stages go ahead, is $25m. Previous investments by Carlyle in China included Ctrip, which started as a $8m funding that netted the group $125m on Ctrip's IPO. The 3rd Asian fund has also invested in Anxin Flooring, the #1 wood flooring company in China, and Credit Orienwise, the leading private credit guarantee firm.

The fact that Carlyle took action is a huge stamp of approval for the company's growth prospects and management team. Many Chinese OTC companies have suspect corporate governance and/or financial oversight, but this investment means that Carlyle's due diligence (which would have been intensive) have shown that nothing was out of sorts.

finance.yahoo.com/q?s=CREG.OB
biz.yahoo.com/e/071116/creg.ob8-k.html

On February 1, 2007, the Company's subsidiary, TCH, entered into a TRT Project Joint-Operation Agreement ("Joint-Operation Agreement") with Xi'an Yingfeng Science and Technology Co., Ltd. ("Yingfeng"). Yingfeng is a Chinese company that is located in Xi'an, Shaanxi Province, China, and is engaging in the business of designing, selling, installing, and operating TRT systems and other renewable energy products.Under the Joint-Operation Agreement, TCH and Yingfeng will jointly pursue a top gas recovery turbine project ("Project") which is to design, construct, install and operate a TRT system in Xingtai Iron and Steel Company, Ltd. ......... On April 08, 2007, the Board of the Company approved and made effective this Joint-Operation Agreement.

On March 8, 2007, the name of the Company was changed to "China Recycling Energy Corporation" and engages in recycling energy business, providing energy saving and recycling products and services. Consequently, the businesses of mobile phone distribution and provision of pager and mobile phone value-added information services were discontinued.On May 10, 2007, the Company officially announced that it changed its main business operations to energy saving and recycling systems and services. The new business operations include developing and constructing 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);selling the electricity generated by the recovered energy power systems to steel plants and other customers; constructing power plants on a turnkey - EPC (Engineering, Procurement and Construction) basis for developers, industrial users and public facilities; developing flexible, custom-tailored ECO-Energy solutions that enable customers to quickly and easily improve energy efficiency and educe fossil fuel consumption and Green House Gases emission.

In connection with the change of business operations, the Company has established a technical team that is composed of recognized experts and technicians specialized in the development and construction of energy saving and recycling systems.