Smart Powerr Corp. — Director's Dealing 2011

Aug 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHINA RECYCLING ENERGY CORP (CREG)
CIK: 0000721693
Period of Report: 2011-07-21

Reporting Person: CAGP GENERAL PARTNER, L.P. (10% Owner)
Reporting Person: DBD Cayman Holdings, Ltd. (10% Owner)
Reporting Person: DBD Cayman, Ltd. (10% Owner)
Reporting Person: TCG HOLDINGS CAYMAN II, L.P. (10% Owner)
Reporting Person: TC Group Cayman Investment Holdings, L.P. (10% Owner)
Reporting Person: CAGP, LTD. (10% Owner)
Reporting Person: CARLYLE ASIA GROWTH PARTNERS III, L.P. (10% Owner)
Reporting Person: CAGP III CO-INVESTMENT, L.P. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-21	Common Stock, par value $0.001 per share	C	4334192	$1.154	Acquired	12465938	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-21	5% Secured Convertible Promissory Note	$1.154	C		Disposed	2011-04-29	Common Stock, par value $0.001 per share (4334192)	Indirect

Footnotes

F1: Carlyle Asia Growth Partners III, L.P. and CAGP III Co-Investment, L.P. are the record holders of 11,935,014 and 530,924 shares, respectively, of the Issuer's common stock. DBD Cayman Holdings, Ltd. exercises investment discretion and control over the securities held by each of Carlyle Asia Growth Partners III, L.P. and CAGP III Co-Investment, L.P., through its indirect subsidiary, CAGP General Partner, L.P., which is the general partner of each of Carlyle Asia Growth Partners III, L.P. and CAGP III Co-Investment, L.P.

F2: DBD Cayman Holdings, Ltd. is the sole shareholder of DBD Cayman, Ltd. DBD Cayman, Ltd. is the general partner of TCG Holdings Cayman II, L.P. TCG Holdings Cayman II, L.P. is the general partner of TC Group Cayman Investment Holdings, L.P. TC Group Cayman Investment Holdings, L.P. is the sole shareholder of CAGP, Ltd. CAGP Ltd. is the general partner of CAGP General Partner, L.P. As such, each of DBD Cayman Holdings, Ltd., DBD Cayman, Ltd., TCG Holdings Cayman II, L.P., TC Group Cayman Investment Holdings, L.P., CAGP Ltd., and CAGP General Partner, L.P. may be deemed to beneficially own the securities held of record by Carlyle Asia Growth Partners III, L.P. and CAGP III Co-Investment, L.P. Each entity expressly disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.

F3: DBD Cayman Holdings, Ltd. is controlled by its ordinary members, and all action relating to the voting or disposition of the securities requires approval of a majority of the ordinary members. William E. Conway, Jr., Daniel A. D'Aniello and David M. Rubenstein, as the ordinary members of DBD Cayman Holdings, Ltd., may be deemed to share beneficial ownership of Shares beneficially owned by DBD Cayman Holdings, Ltd. Such individuals expressly disclaim any such beneficial ownership.