On May 28, 2012, China Recycling Energy Corporation, a Nevada corporation (the "Company") held its 2012 Annual Meeting of Shareholders. A quorum was present at the meeting as required by the Fourth Amended and Restated Bylaws of the Company. The shareholders elected all of the Company's nominated directors and approved and ratified the appointment of Goldman Kurland Mohidin LLP as the Company's independent registered accounting firm for fiscal year ending December 31, 2012. The final voting results of the matters submitted to a shareholder vote at the meeting are as follows:

Proposal 1: Election of Directors

The following seven individuals were elected to the Board of Directors of the Company to serve as directors until the 2013 Annual Meeting of Shareholders or until their successors have been duly elected and qualified:

                                                              Votes
                                                               Cast                            Broker
Nominees                                Votes Cast For       Against        Abstentions       Non-Votes
Guohua Ku                                   31,884,719            223                 0       7,515,953
Timothy Driscoll                            31,884,740            202                 0       7,515,953
Albert McLelland                            31,884,722            220                 0       7,515,953
Lanwei Li                                   31,884,719            223                 0       7,515,953
Julian Ha                                   31,884,737            205                 0       7,515,953
Yilin Ma                                    31,884,719            223                 0       7,515,953
Chungui Shi                                 31,884,737            205                 0       7,515,953

Proposal 2: Approval and Ratification of the Appointment of Goldman Kurland Mohidin LLP as the Company's Independent Registered Public Accounting Firm

The appointment of Goldman Kurland Mohidin LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2012 was approved and ratified. There were 31,884,633 votes for the appointment, 68 votes against the appointment, 241 abstentions and 7,515,953 broker non-votes.