 Xian, China, Dec. 28, 2020 GLOBE NEWSWIRE -- China Recycling Energy Corp. NASDAQ: CREG; CREG or the Company, a leading industrial waste-to-energy solution provider in China, today announced that Shanghai TCH Energy Technology Co., Ltd. Shanghai TCH, the Companys wholly owned subsidiary, has recently entered into an Equity Acquisition Agreement with Xian Taiying Energy Saving Technology Co., Ltd. Taiying and each of its shareholders to acquire 100 ownership of Taiying and become its 100 controlling shareholder, subject to certain closing conditions. Shanghai TCH is acquiring TAIYING for a combination of cash and shares of CREG. 