CHINA RECYCLING ENERGY CORP
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>crec8kex101062107.txt
<TEXT>

Exhibit 10.1


                            SHARE EXCHANGE AGREEMENT

     This SHARE EXCHANGE  AGREEMENT (this  "Agreement") is made and entered into
this 22nd day of February,  2007, by and among, those individual  purchasers set
forth on Schedule A  (together,  the  "Purchasers")  and the  Sellers  listed on
Schedule A (the "Sellers").

                                    RECITALS:

     WHEREAS, the Sellers are the owners of 2,695,792 shares (the "CREG Shares")
of  ownership  interest  of  China  Recycling  Energy   Corporation,   a  Nevada
Corporation (the "CREG"), listed on Schedule A, and

     WHEREAS, the Purchasers are,  collectively,  the owners of 8,087,376 shares
(the  "Yingfeng  Shares") of ownership  interest of Xi'an  Yingfeng  Science and
Technology Co, Ltd., a Chinese Corporation (the "Yingfeng"),  listed adjacent to
each of the Purchasers' names on Schedule A; and

     WHEREAS,  the Sellers have  determined that it is in their best interest to
exchange, subject to the terms and conditions set forth herein, 2,695,792 shares
of their CREG Shares with the Purchasers for 8,087,376  Yingfeng Shares owned by
Purchasers; and

     WHEREAS,  the Purchasers have determined that it is in their best interests
that they exchange,  subject to the terms and  conditions set forth herein,  all
the  Yingfeng  Shares owned by them with the Sellers for  2,695,792  CREG shares
owned by the Sellers, in the respective amounts set forth on Schedule A; and

                                   AGREEMENT:

     NOW,  THEREFORE,  in  consideration  of the premises and the agreements set
forth herein, the Sellerss and the Purchasers agree as follows:

                                    ARTICLE I

                                 SHARE EXCHANGE

     Section 1.01. The Share  Excahange.  Subject to the terms and conditions of
this  Agreement,  the  Sellers  agree to  assign,  transfer  and  deliver to the
Purchasers,  at the  Closing,  2,695,792  CREG shares owned by him. As exchange,
Purchasers agree to assign, transfer and deliver to the Sellers, at the Closing,
8,087,376 Yingfeng shares owned by them. Under the terms of this Agreement, each
individual  Purchaser  receives  ONE CREG Share  owned by the  Sellers for THREE
Yingfeng Shares owned by Purchasers  prior to the  transaction,  at the Closing,
with the  restriction  that all  Purchasers  shall not trade or resell  the CREG
shares they acquired  within a period of one year  following the closing date of
this  transaction,  complying with the restrictions on re-sale of the securities
of Rules 903 (a) and (b)(3) of Regulation S.

     Section 1.02. Execution and Closing. The Share Exchange shall take place at
such other time and place as the Sellers and the Purchasers mutually agree upon,
orally or in writing (which time and place is designated as the "Closing").  The
Sellers shall deliver to the Purchasers either (i) a certificate or certificates
representing  the CREG Shares or (ii) instruments of assignment or transfer that
shall, in the reasonable  opinion of the Purchasers be necessary to transfer the
CREG Shares to each of the Purchasers.  The Purchasers shall also deliver to the
Sellers  either (i) a  certificate  or  certificates  representing  the Yingfeng
Shares  or (ii)  instruments  of  assignment  or  transfer  that  shall,  in the
reasonable  opinion of the Sellers be necessary to transfer the Yingfeng  Shares
to the Sellers.  The Agreement is not deemed  executed and the Share Exchange is
not deemed  consummated  until the  Sellers  receive the  physical  certificates
representing  the Yingfeng Shares delivered by the Purchasers and the Purchasers


<PAGE>

receive the physical certificates  representing the CREG shares delivered by the
Sellers.


                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

     Section 2.01. Representations and Warranties of the Purchasers. Each of the
Purchasers, on a joint and several basis, represents and warrants to the Sellers
as follows:

     (a)  The  Purchasers  have all power and authority to execute,  deliver and
          perform this Agreement.

     (b)  This  Agreement  is the valid and  binding  obligation  of each of the
          Purchasers,  enforceable  against each of the Purchasers in accordance
          with its terms.

     (c)  The CREG  Shares will be acquired  for  investment  for the account of
          each of the Purchasers,  and not as a nominee or agent, and not with a
          view to the  distribution  or public offering  thereof.  In connection
          therewith, each of the Purchasers confirms that he or she is neither a
          U.S Person,  as such term is defined in Rule 902(k) of  Regulation  S,
          nor located within the United States, and that the transaction will be
          between non-U.S. Persons, and take place outside of the United States.

     (d)  None of the  Purchasers  have been  contacted  concerning the acquired
          CREG Shares or the matters set forth in this Agreement by means of any
          advertisement or other general solicitation.

     (e)  Each of the Purchasers  understands  that (i) the acquired CREG Shares
          have not been  registered  under either the Securities Act of 1933, as
          amended (the "Securities  Act") or the securities laws of any state by
          reason of specific  exemptions  therefrom and that such securities may
          be  resold  in  the  United  States  without  registration  under  the
          Securities Act only in certain limited circumstances.

     (f)  The Purchasers have access to information  relating to the CREG as the
          Purchasers deem necessary to make an informed  investment  decision in
          connection  with the acquired  CHDW Shares,  and except as provided in
          Section  2.02  below,  the  Sellers is making no  representations  and
          warranties  concerning the acquired CREG Shares or the business of the
          CREG.

     (g)  Each of the Purchasers understands that Regulation S promulgated under
          the  Securities  Act,  is  available  only  for  offers  and  sales of
          securities  outside the United States, and will comply with Regulation
          S,  attached  hereto as Exhibit  A,  specifically  complying  with the
          restrictions  on re-sale of the securities of Rules 903 (a) and (b)(3)
          of Regulation S.

     (h)  Legends. The Purchasers acknowledge that the CREG Shares they acquired
          will bear the following restrictive legend:

               THE SECURITIES  REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
          THE UNITED STATES  SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
          ACT"), OR THE SECURITIES  LAWS OF ANY STATE OF THE UNITED STATES.  THE
          HOLDER HEREOF,  BY PURCHASING THE SECURITIES,  ACKNOWLEDGES  THAT SUCH
          SECURITIES MAY BE OFFERED,  SOLD OR OTHERWISE TRANSFERRED ONLY: (A) TO
          THE COMPANY,  (B) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION
          IN  COMPLIANCE  WITH  REGULATION  S UNDER  THE  SECURITIES  ACT AND IN
          COMPLIANCE WITH APPLICABLE  LOCAL OR STATE LAWS AND  REGULATIONS,  (C)
          INSIDE  THE  UNITED  STATES  PURSUANT  TO  (I)  RULE  144A  UNDER  THE


<PAGE>

          SECURITIES  ACT TO A PERSON WHO THE SELLERS  REASONABLY  BELIEVES IS A
          QUALIFIED  INSTITUTIONAL  BUYER THAT IS PURCHASING FOR ITS OWN ACCOUNT
          OR FOR THE ACCOUNT OF ONE OR MORE  QUALIFIED  INSTITUTIONAL  BUYERS TO
          WHOM WRITTEN NOTICE IS GIVEN THAT THE OFFER, SALE OR TRANSFER IS BEING
          MADE IN RELIANCE ON RULE 144A OR (II) THE EXEMPTION FROM  REGISTRATION
          UNDER  THE  SECURITIES  ACT  PROVIDED  BY  RULE  144  THEREUNDER,   IF
          AVAILABLE,  AND  ANY  APPLICABLE  STATE  SECURITIES  LAWS  OR (D) IN A
          TRANSACTION  THAT DOES NOT REQUIRE  REGISTRATION  UNDER THE SECURITIES
          ACT OR ANY APPLICABLE  UNITED STATES FEDERAL OR STATE SECURITIES LAWS,
          AFTER   PROVIDING  AN  OPINION  OF  COUNSEL  OF  RECOGNIZED   STANDING
          REASONABLY SATISFACTORY TO THE COMPANY TO THAT EFFECT.

     (i)  Each of the Purchasers  acknowledge that it is aware of its respective
          obligations  under the  Securities  Exchange  Act of 1934  (the  "1934
          Act"), including, but not limited to those filing obligations that are
          triggered  as a  result  of the  consummation  of the sale of the Sale
          Shares  pursuant to Sections 13 and 16 of the 1934 Act,  together with
          filings  required to be made by the Company,  under the control of the
          Purchasers, after the consummation of the sale of the Sale Shares.

     Section 2.02.  Representations  and Warranties of the Sellers.  The Sellers
represent and warrant to the Purchasers as follows:

     (a)  The  Sellers  have all power and  authority  to  execute,  deliver and
          perform this Agreement.

     (b)  This  Agreement  is the valid and binding  obligation  of the Sellers,
          enforceable against the Sellerss in accordance with its terms.

     (c)  The  Sellers are the record and  beneficial  owners of the CREG Shares
          acquired by Purchasers and the CREG Shares exchanged  pursuant to this
          agreement  have not  been  assigned,  pledged,  sold,  transferred  or
          otherwise conveyed.

                                   ARTICLE III

                                  MISCELLANEOUS

     Section 3.01.  Governing Law; Successors and Assigns.  This Agreement shall
be governed and construed in accordance  with the law of the State of Nevada and
applicable   federal  law  and  shall  be  binding  upon  the  heirs,   personal
representatives,  executors,  administrators,  successors  and  assigns  of  the
parties

     Section 3.02.  Entire  Agreement.  This  Agreement  constitutes  the entire
agreement  of  the  parties  with  respect  to the  subject  matter  hereof  and
supersedes  and  replaces  any prior  agreement  or  understanding  between  the
Purchasers  and the  Sellers  with  respect to the  transfer  of the Sale Shares
between the Sellers and the Purchasers.

     Section 3.03. Headings.  The headings of the Sections of this Agreement are
for convenience and shall not by themselves determine the interpretation of this
Agreement.

     Section 3.04. Counterparts. This Agreement may be executed in any number of
counterpart  copies,  all of  which  copies  shall  constitute  one and the same
instrument.

     Section 3.05.  Independent  Counsel.  The  Purchasers  and the Sellers each
acknowledge  that this  Agreement  has been prepared on behalf of the Sellers by
Bernard & Yam,  LLP,  counsel to the Sellers and that  Bernard & Yam, LLP is not
representing,  and is not acting on behalf of, the Purchasers in connection with


<PAGE>

this Agreement. The Purchasers have been provided with an opportunity to consult
with their own counsel and their own business,  securities and tax advisors with
respect to this Agreement.

     Section 3.06. Purchaser  Representative.  The Purchasers appoints Mr. Jihua
Wang as their  Representative to sign and execute this Share Exchange  Agreement
and each Purchaser  understands and acknowledges  that this appointed  Purchaser
Representative

     (1) Is not an affiliate, director, officer or other employee of the issuer,
     or  beneficial  owner of 10  percent  or more of any  class  of the  equity
     securities or 10 percent or more of the equity interest in the issuer; and
     (2) Has such  knowledge and  experience  in financial and business  matters
     that he is capable of evaluating,  alone,  or together with other purchaser
     representatives  of the  purchaser,  or together  with the  purchaser,  the
     merits and risks of the prospective investment;
     (3) Is acknowledged  by the purchaser in writing,  during the course of the
     transaction,  to be  their  purchaser  representative  in  connection  with
     evaluating the merits and risks of the prospective investment; and
     (4)  Discloses to the  purchaser in writing a reasonable  time prior to the
     sale of securities  to that  purchaser  any material  relationship  between
     himself  or their  affiliates  and the issuer or its  affiliates  that then
     exists, that is mutually understood to be contemplated, or that has existed
     at any time during the previous two years, and any compensation received or
     to be received as a result of such relationship.





               THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

                             SIGNATURE PAGE FOLLOWS















<PAGE>


     IN WITNESS  WHEREOF,  the parties  hereto  have signed this Share  Exchange
Agreement as of the date first above written.

    ------------------------------------------------------------------------

                           Signature Page for Sellers

SELLERS

By


 /s/Hanqiao Zheng
-----------------
    Hanqiao Zheng



 /s/Guohua Ku
-----------------
    Guohua Ku


     -----------------------------------------------------------------------

                   Signature Page for Purchaser Representative

PURCHASER  REPRESENTATIVE


By


 /s/Jihua Wang
---------------
    Jihua Wang


    ------------------------------------------------------------------------

                          Signature Page for Purchasers

PURCHASERS

By

X ___________________________





<PAGE>
<TABLE>
<CAPTION>


                                   SCHEDULE A



   Sellers                                 Amount of CREG Shares Sold
Hanqiao Zheng                                    2,406,365
Guohua Ku                                          289,427





                        Amount of                                Amount of                                    Amount of
                       CREG Shares                              CREG Shares                                  CREG Shares
Purchasers               Acquired         Purchasers             Acquired           Purchasers                Acquired
----------               --------         ----------             --------           ----------                --------
<S>                      <C>              <C>                    <C>                <C>                       <C>

Hongjun Wang              4667           Youqiong Huang              500            Zhichun Zhang               15000
Youxin Fang               8000           Qian Nie                    1667           Cuiping Yang                 1500
Aizhen Li                 1667           Xianqin Zhu                 3334           Biyun Pan                    1667
Yongzhong Su              1500           Jian Meng                  11667           Xiuwen Wang                  6667
Jingfang Xu               5000           Weizhi Yao                  6667           Yaomin Fang                 10000
Baozhen Lin               3334           Yunzhen Chen                5000           Lingling Wu                  1667
Xingfa Yu                 5000           Jingchang Li                5000           Shuwei Zhang                 5000
Yuqin Xu                  3334           Dingchan Wu                 3334           Lili Lu                      6667
Jingwen Wu               10000           Huinian Li                  3334           Shihui Zhou                  3334
Yaozong Hang             10000           Zhiwei Wang                 8000           Yinghao Shi                  7500
Genlin Wu                 1667           Lanying Cai                 3334           Xiaolin Hu                   2500
Zhenyu Shen               5000           Wenwu Yan                  10000           Fengying Zhao                1700
Mengyuan Zhang            6667           Suping Zhang                6667           Lanfang Wang                 6667
Qifang Zhang              3334           Baiquan Tian                5000           Xinhua Ma                    6667
Ping Zhu                 60000           Naili Du                   10000           Gang Chen                    3334
Weiqun Zhao               3334           Zhenyu Wang                16667           Yinglan Li                  10000
Jianzhong Hu             15000           Deming Tang                 3334           Xiaoyu Lei                   3334
Guanghua Li               1500           Guanggui Zhang             16667           Caimei Liu                   3000
Beidi Ye                  7500           Kefeng Hao                  1250           Guiyu Xie                    1667
Suwen Lin                 3334           Baohua Chen                 1250           Jianmei Zhang                5000
Hong Li                   5000           Zhenhua Tang               10000           Juhong Shao                  3334
Tianzuo Ding              1667           Yuezhen Qin                 1667           Xiaoyi Wang                  3334
Wenhua Wang               1667           Bangxing Xu                10667           Fujin Xie                    1667
Wansheng Pan             10000           Jun Hu                     10000           Wenfang Xi                   6667
Yicheng Huang             6667           Zhiquan Shao                667            Delin Li                     5000
Huiqing Zhang             1667           Youguo Zhu                  6667           Yufang Yu                    3334
Zhuoqun Wang             10000           Jian Chen                   1500           Henian Zhang                16667
Lanfang Shen             10000           Minggen Lu                  7500           Juanfen Lu                   1667
Liang Qian                7667           Yiyuan Cao                  6667           Shunquan Zhang               8000
Peilan Dai                6667           Huizhi Xin                  3334           Erming Shen                 10000
Lingjuan Wei              3334           Guofang Zhuang              6667           Yiren Gu                     3334
Lingkai Xu                8334           Wenhua Wang                 5000           Jingzhen Xu                  7500
Liming Shen               6667           Xiuxian Yu                  3334           Yanqin Yang                  1000
Yaxiu Chen                3334           Peiying Ji                  5000           Kefei Jiang                  2834
Hongwen Zhang             5000           Hongchang Li                2500           Youmei Yang                  1667
Rui Yu                   10000           Zonggen Guo                 1667           Chunling Wang                1667
Yu Xia                    3334           Shuhe Zhu                   3334           Fengqin Liu                  4000
Jianfeng Huang            1667           Cuiying Shang               1334           Huiqin Qian                  6667
Linzhen Min               1667           Jun Guo                     4000           Yueqing gan                  5000
Xingzhu Cao               6667           Xiaowei Shen               15000           Huaqin Zhou                 15000
Liming Zhao               5000           Yan Yan                     6667           Minghua Wu                   2334
Jing Zhang                4000           Qiaoying Cao                9700           Ruiqing Ge                   5000
Yufang Chen              10000           Hankang Zhou                2334           Hengkan Mao                 20000
Changying Song            3334           Hong Xie                   15000           Maohua  Shen                 3500
Guihua Shen              10000           Shouyi Xu                  10000           Rongwei Xu                  10334
Song xue                  5000           Wenyan Jin                  1667           Shanwu Zhu                   7500
Luyi Qi                   5000           Chunmei Chen               15000           Lijuan Zhou                  5000
Shuqin Hu                13334           Baofeng Yuan               10000           Yu Zhao                      3334
Guangtai Shao            13334           Xiangjiang fang             3334           Yuanfang Chen                2500
Yongfa Ren               10000           Dinghai Bao                 4500           Zhongjuan Lu                13334
Junfa Xie                 3334           Zubin Huang                 3334           Jiaxiu Zhang                 1667
Shuangming Chen           5000           Qianhui Yang                3334           Shouri Piao                 13334
Wangdong Liu              3334           Yimin Zhou                  5000           Chundi Wang                  3334
Chunjie Wang              1000           Qiru Zhu                   10000           Chunjiang Leng              20000
Qijuan Chen               1667           Chongman Wang               5000           Wenlong Zhou                 5000
Jianping Shan             2000           Jinrong Zhu                 5000           Jufa Wu                      8334
Yanqing Sun               5000           Biyu Wu                    12906           Meiying Xue                 10000
Dianpin Sun               5000           Dan shi                    15000           Jinde Gu                     1667
Jiaping Lu                3334           Genfu Chen                  6667           Shenzhen Zheng              12000
Xiadi Wang               12500           Lihua Zhang                 2334           Hongying Zhong               1667
Xihua Zhu                 2500           Minhua Jin                  1667           Guangming Liu                5000
Hengyuan Lu               3334           Guorong Yan                 3334           Sixiang Zhang                1667
Xiecheng Zhuang           2667           Hao Wang                    1667           Shenxin Zhang                3334


<PAGE>

Hongmei XU                1667           Aili Shi                    7000           Liangfang Zhou               3334
Jie Cheng                 1000           Kaiping Yu                  2500           Hong Yu                      3334
Dazhen Yu                 1500           Ping Luo                    3334           Zhenghua Zhao                3334
Donglin Zhao              2000           Peizhen Shen                1334           Weiju Sun                    3000
Jie Sun                   3334           Caiping Gong                7500           Yongsheng Yuan              18334
Rongkang Shi             11667           Defang Wu                   6667           Ying Gong                   10000
Yuezhen Lu                1667           Jie Zhang                  10000           lihua liu                    1667
Zuozhi Yang               6667           Huijun Chen                 3334           Yan Li                       8500
Tanglin Wu                1667           Honghui Ma                  3334           Baohui He                    2500
Ronghua Fu                3334           Dongxiang Sun               3334           Yuzhen Fu                    2334
Juanjuan Jiang            5000           Jinnu Tian                  2500           Chengjiu Hu                  1767
Huiqiang Mei              667            Yan Sun                     3334           Rongchun Wang                1667
Xiuding Jiang             2500           Hongxie Chen               20000           Ning Yang                    2334
Yajun Xie                 5000           Lihua Zhao                 13334           Lihua Zhou                   3734
Jianzhong Shen            1334           Yonghan Li                  1667           Guifen Geng                 16667
Xiaolian He               1667           Xiuqin Xu                  13334           Wenming Jiang                1667
Jianqiu Zhou              3334           Yongqiang Lu                4000           Qian Liu                     3334
Chen Jiang                3334           Meiying Zhu                 3334           Ming Tan                     1667
Zhenkang Yang             1334           Lesun Hua                   5500           Xiaoli Zhang                 4834
Kangming Zhang            3334           Deyun Shen                 10000           Fuchun Song                  7000
Yuqin You                 1667           Jinhai Song                 6667           Shixi Wang                   5000
Shuyang Huang             3334           Yunsheng Wang               1667           Sujie Jiang                  6667
Yulan Jin                 2000           Xiaofang Qian               2334           Rongzhen Wang                1667
Qi Wu                     3334           Ximin Ni                    3334           Mingxing Zhang               1234
Xiao Chen                15000           Yiping Lin                  5000           Lieyu Zhang                  5000
Nianfeng Yang             3334           Xianglin Shao               4000           Hongyu Zhang                 3334
Cunfu Wu                  1667           Quanzhen Jiang             13334           Mao'an Bai                   2000
Fangchu Qiu               5000           Yongzhen Su                10000           Yuxia Meng                   3334
Yongshu Ding              1667           Heyan Wang                  1667           Shuying Zhou                 1667
Lingxiu Yan               3000           Weili Cheng                 2500           Jing Che                     5000
Huijuan Zhou             10000           Yujun Hu                   20000           Wei Chen                     8334
Jing,an Zhou              2500           Lizhu Qiu                   2500           Yafan Wang                   3334
Guocheng Zhang            3334           Huizhen Bian                667            Yujie Wei                    6667
Lei Jin                   2500           Zengliang Yang              5000           Xiuqin Luo                   3334
Cuige Bao                 3334           Feiwen Lin                  2000           Yan Li                      26667
Ruixiang Yang             5000           Xiaqun Gan                  6667           Ci Zhao                      1667
Lanfang Wu               22500           Wenyong Lu                  1667           Bangji Zou                   3334
Gang Wu                   4000           Ziguo Qian                  2500           Bo Yu                       10000
Hong Huang                1667           Xiaochuan Li                3334           Jinrong Hui                  3334
Weimin Tang               5000           Ying Sheng                  2334           Zhigang Zeng                 5000
Hong Ju                   3334           Feng Xu                     5000           Xixian Yang                 20000
Bin Wang                  5000           Desheng  Liu                1667           Xin Song                     3334
Fugen Zhang               1667           Qiongfeng Xu                3334           Liying Shi                   1667
Yongning Yu               5000           Huiyun Yang                 6667           Pingya Ji                   16667
Caifeng Zheng             5000           Min Shen                    5000           Junjie Li                   10000
Xiangru Tu               10000           Qinhua Zheng                2500           Jieying Zhang                5000
Zuping Zhu                1667           Wenlian Huang               2500           Shihui Yang                  6667
Larong Qian               1667           Jianmin Xu                  6667           Shuning Wang                 3334
Zhan Wu                   3334           Yazhen Zhang                2500           Guirong Wang                 6667
ningqing Zeng             3334           Yongsheng Zhu              11000           Yongjie Wang                 2000
Longzhen Zhang            334            Yingzhen Lang               6667           Lixin Long                   5000
Yuhuan Dong               3334           Xingfu Hu                   2667           Enzhi Yang                   3334
Bingkui Shi               1667           Qiuzhen Lu                 20000           Zhenrong Cao                 6667
Suqin Wang                6667           Guojiang Li                 5000           Qingqing Li                  1667
Jingzhi Wang              3334           Jinhai Gu                  22500           Xiuge Wu                     6667
Jialiang Wan              3334           Zhenchang Fei               6667           Hongwei Zhang                3334
Xiaoqiang Li              1000           Xi Chen                     667            Wenxiu Wang                 10000
Wei Wang                 15000           Guozhu Wang                 6667           Xuefang Liu                 13334
Yufang Jiang              5000           Jianyun Wang                3334           Zhaoling Meng               20000
Shilin Qiu                5000           Guojun Chen                 5000           Lianhui Sun                  3334
Chunxiang Gu             10000           Miaoyu Chen                10000           Shumei Chen                  1667
Genlan Zhu                3334           Hongzhi Zhou               10000           Qi Zhang                     5000
Shuiyun Chen              1667           Shengnian Li                7500           Zhongli Pan                  1667
Tingxiang Yan             3334           Peijun Gong                 1667           Dongguang Zou                3334
Xueming Jin               2500           Liuyong Zhao                6667           Fushan Liu                  21000
Shihui Li                13334           Zhiying Guo                 3334           Huiru Zhu                    3334
Shuqin Yu                10000           Huaikou Chen               10000           Guoliang Ning                5000
Jinda Ye                  6667           Meiguan Cao                 3334           Jinxiang Li                  5334
Li Li                    10000           Jifa Yang                  15000           Guoxiang Liu                 3334
Zhihong Guo              10000           Guoquan Qiao                1667           Aiqun Hou                    3334
Bi Ren                   10000           Yafen Dong                 12667           Xiufen Chen                  8000
Zhengcai Cao              1000           Guoliang Zhang             10000           Baokui Ni                    3334
Shengfang Wang           16667           Chenfei Bao                 7500           Hong Zhou                    3334
Yuzhen Bai               13334           Yungen Xue                  2000           Guiqin Ma                    3334
LingLing  Ma              3334           Baodi Ding                  3334           Jun Zhang                    3334
Dan Li                    8334           Putao Yang                  3334           Jianying Dai                 3334
Naiping Song              5000           Jinkang Bao                 6667           Jing Hua                     6667
Zhenzhuang Yang           3334           Youmei Zheng                1667           Xinmin Bai                   3334
Mingjie Cao               3334           Lihong Guo                  3334           Zhen Miao                    2500

<PAGE>

Yulong Shen              18334           Chunhe Liu                  3334           Li Li                        1000
Yizhen Wang               5000           Weishan Gong                6667           Yanling Xin                  3334
Yuqing Kong               6667           Hongyu Fan                  3500           Yousheng Shen                1667
Hongqi Ye                 1667           Shidi Feng                  2000           Heng Xu                      3334
Jingchun Wang             9000           Jufang Li                   3334           Huaqian Chen                 1667
Peiqing Gao               6667           Guifang Li                  3334           Jinmei Chen                  1667
Zhong Huang               667            Yuzhen Yang                10000           Guidi Wang                   6667
Huaming Gu                1667           Jiaming Gong                3334           Jiang Chen                   5000
Jun Hu                    3334           Lianfu Huang               10000           Tingxin Gao                  1667
Jing Hua                  6667           Zongjuan Jiang             15000           Rongsheng Fang               2667
Jinping Zhang            20000           Miaofu Zhao                 2500           Guiying Tang                 3334
Fumao Hu                  7667           Yifen Zhang                 5000           Yunxin Chi                   2513
Jindi Zhou                3334           Xiaoqing Zhu               10000           Fuxing Xi                    2334
Daoan Xie                 6667           Boxun Wang                 10000           Suhua Wei                    3334
Hongxiang Liu             9434           Qinxiang Qian               3334
Zhaojun Ding              3667           Hongfa Qian                 3334


</TABLE>



</TEXT>
</DOCUMENT>
