[SUPPLEMENTAL AGREEMENT Supplemental Agreement The Company The Investor This Supplemental Agreement, dated as of December 9, 2011 (this " WITNESSETH: Company Group Note Purchase Agreement WHEREAS, the Company, its wholly-owned subsidiaries Sifang Holdings Co., Ltd., Shanghai TCH Energy Technology Co., Ltd. and Xi'an TCH Energy Technology Co., Ltd. (together with the Company, the " Convertible Notes" WHEREAS, the Company sold,] [Supplemental Agreement Whereas , Capital Trust Loan Agreement under Jingu CREG No.1 Recycling Economic Collective Trust Plan Trust Loan Agreement Trust Loan Contract , Whereas, Trust Loan Agreement Trust Loan Agreement Trust Loan Agreement All parties have reached the following agreements on the changes and amendments to the Article I Early Repayment Trust Loan Agreement All parties agree Xi’an TCH] [Saving Reduction Special Loan Agreement for Energy Industrial Bank Co., Ltd. Serial No.: XYS JK JNJPZi (2011) No. 008 Industrial Bank Co., Ltd. Xi'an Branch Lender: #1 Tangyan Road Add: Tang Zhengjun Legal representative/director: Zhou Weihua Customer Manager Contact person: Mailing address: # 122 Weiyang Road 710016 Post code: 86518413 86518476 Tel: Xi’an TCH Energy Technology Co., Ltd Borrower: 12] [Item 1.01. Entry into a Material Definitive Agreement On December 9, 2011, China Recycling Energy Corporation (the “Company”), China Cinda (HK) Asset Management Co., Ltd, a company organized under the laws of the Hong Kong Special Administrative Region of China (“Cinda”) and Mr. Guohua Ku, the Chairman, CEO and a major shareholder of the Company entered into a Supplemental Agreement]