On July 31, 2015, the Board of Directors of China Recycling Energy Corporation has received a resignation letter from Mr. Albert McLelland, a director of the company, the Chairman of the Audit Committee and a member of the Corporate Governance and Nominating Committee and of the Compensation Committee of the board, effective on July 31, 2015 indicating that his resignation was due to personal considerations. On August 5, 2015, the board appointed Ms. LuLu Sun as a new member of the board to fill the vacancy on the board until her successor has been duly elected and qualified. Ms. Sun is also appointed as the Chairperson of the Corporate Governance and Nominating Committee and a member of the Compensation Committee and of the Audit Committee of the board.

Ms. Sun serves as Marketing Director for Net Engine Power Tech. Ltd. Co. in China from June 2013 to present and she was the New Media Business Development Director for Rayli Magazine in China from June 2009 to May 2013.

From July 2002 to May 2009, Ms. Sun was the Business Development Project Manager for Sina Mobile in China. On August 5, 2015, the board also appointed Mr. Cangsang Huang, a current member of the board as the Chairman of the Audit Committee.