Hello and welcome to the China Recycling Energy second quarter 2013 earnings conference call. All participants will be in a listen-only mode. (Operator Instructions) After today’s presentation there will be an opportunity to ask questions. (Operator Instructions). Please note that this event is being recorded. Now I would like to turn the conference over to Ms. [Wei] please go ahead.

Thank you for joining us on today’s call. Before we start, I would like to remind you that the management’s prepared remarks contains forward-looking statements that are subject to risks and uncertainties and the management may make additional forward-looking statements in response to your questions. Therefore the company claims the protection of the Safe Harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today due to such risk as but not limited to saturations in customers demand, management of rapid growth, intensity of competition, general economic conditions, geo-political events and regulatory changes, and other information detailed from time to time in the company’s filings and future filings with the United States Securities and Exchange Commission. Accordingly, although the company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such adaptations will prove to be correct. In addition any projections as with the company’s due to performance represents management estimate as of today August 16, 2013. The company undertakes no obligations to correct or update any forward-looking statements provided as a result of new information, future events, or event change in our expectations. Joining us on today’s call are Mr. Ku, Chief Executive Officer and Mr. Chong, Chief Financial Officer. As there will be some translations during the call, we ask for your patience at that time. Mr. Ku, the Chief Executive Officer of China Recycling Energy Corporation will now deliver his opening remarks and I will just get them (inaudible).

[Foreign Language] Good morning and for those in China good evening. CREG saw a healthy income growth in the second quarter of this year, characterized by 205% increase in net spending from sales leasing compared to last year. As of June 30, 2013 the total sales including sales in contingent rental income was $13.91 million, an increase of $13.51 million compared to last year. During the three months ended June 30 the company completed two 3 megawatt (inaudible) gas turbine power generation systems in Shanxi Datong Phase 1 project and continue the construction for the ongoing project which is at Phase 2. Meanwhile the Jilin Ferroalloys Power Generation Project or the (inaudible) project are under construction. Before we get to Mr. Chong and financials I’d briefly like to discuss the current dynamics of our marketplace and debt market as well as our outlook going forward. [Foreign language] At the National People’s Congress (NPC) and Chinas People’s Political Consolidated Conference CPPC last year, the current environmental situation had drawn great attention from the government. As a result further controlling and lowering of environmental pollution will be conducted widely in the coming years in China. According to the document issued in August 2013, the state council issued special measurement (inaudible) for energy conservation and environmental protection industry requiring at least 15% annual growth rate of the industry output daily. The growth of the total output value RMB4.5 trillion until 2015. The energy savings and environmental protection industry will continue to become the pillar industry of the governmental economy. CREG will take this opportunity to seek co-operation with more enterprises that made great contributions in environmental protection and it's been as (Inaudible). Behind some methods we currently apply for waste power and generation, we are focusing on dissolving coke dry quenching (CDQ) waste…

Thank you, Mr. Ku. Before we start I would like to state that all our numbers are presented in U.S. dollars. I will start with the three months, second quarter and the June 30, 2013. Total sales for the three months ended June 30, 2013 was $13.91 million while total sales for the comparable period of 2012 was $0.40 million, an increase of $13.51 million as a result of increases in the sales of systems. Of the total sales, sales of systems for the three months ended June 30 was $13.62 million, as compared to $0 for the comparable period of 2012, an increase of $13.62 million. For the three months ended June 30, 2013, Shanxi Datong Phase I project, two units of 3 megawatts BPRT power generation systems were completed and sold. In comparison, in the same period of 2012, none of the company's power generation system were completed and sold, those under construction (inaudible). For the three months ended June 30, 2013, the company had received contingent rental income of $0.29 million from the usage of electricity in addition to the minimum lease payments, compared to $0.40 million for the comparable period in 2012. For the sales-type lease, sales and cost of sales are recorded at the time of mention of leases; interest income from sales-type leases is our other major revenue source. The cost of sales for the second quarter of 2013 was $10.50 million while our cost of sales for the comparable period of 2012 was $28,000, an increase of $10.48 million. This increase was mainly due to completion and sales of the Shanxi Datong Phase I project. Gross profit was $3.41 million for three months ended June 30 compared to $0.37 million for the comparable period of 2012. A combined gross profit margin of 25%…

Thank you. We will now begin the question-and-answer session. (Operator Instructions) Okay we do have a question from (inaudible).

Hi guys. Two question for you. The (inaudible) project in the Q it says that it’s going to be completed in this current quarter of 2013 but somewhere else I read it was going to be completed in 12 months is it going to be completed this year or next year?

This is the CFO speaking. For the new project to be completed in 12 months it will be next year.

And then in the past you have talked a quite a bit about the when you sign the deal Cinda important to our portfolio company we had and we might be able to get contract from that, is there anything common with that?

Yes, as on both 2000 as we now on our corporation with Cinda and they are always in the partner

Okay. Go ahead.

And you just go ahead, yeah.

And the last one I had was under the new [CDQ] stuff is that something that you're planning on expanding a lot more than what you announced today or I think do you think is the lot more potential for this kind of product?

CDQ there will be a lot more what we have announce as the first two days we have definitively signed and obtained financing for it. Let me just get the translation back to the CEO.

[Foreign Language]

(Operator Instructions). Alright, there are no more questions at the present time. So I would like to turn the call back over to management for any closing remarks.

So, is it no question is coming?

No, ma'am.

Okay. Thank you for joining us on China Recycling Energy Corporation second quarter 2013 results conference call. We look forward to updating you on our third quarter 2013 results. Feel free to get in touch with us anytime, if you have further questions, comments or concerns. Have a wonderful day. Thank you

Thank you, everyone.

Thank you.

This concludes our conference. You may now disconnect your phone lines. Thank you for participating and have a nice day.