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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;April
20, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>GUANWEI
RECYCLING CORP.</B></FONT>&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center">Nevada</TD>
    <TD STYLE="width: 2%; vertical-align: top; padding-bottom: 1.1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center">000-53825</TD>
    <TD STYLE="width: 2%; vertical-align: top; padding-bottom: 1.1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center">98-0669936</TD></TR>
<TR>
    <TD STYLE="text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rong Qiao Economic Zone</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fuqing City</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fujian Province</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>300500</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code:<B> (86-591) 8536-6197</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I> see</I> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act &nbsp; (17&nbsp;CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act &nbsp; (17&nbsp;CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp;&nbsp;&nbsp;Entry into a Material Definitive
Agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 20, 2012, Guanwei Recycling Corp.
(the &ldquo;<U>Company</U>&rdquo;), a Nevada corporation entered into an Indebtedness Conversion Agreement (the &ldquo;<U>Agreement</U>&rdquo;)
with Chenxin International Limited (&ldquo;<U>Chenxin</U>&rdquo;), a Hong Kong company and a shareholder of the Company which is
controlled by Mr. Rui Wang, a director of the Company, pursuant to which the Company shall issue 815,648 shares of the Company&rsquo;s
common stock, par value $0.001 per share, to Chenxin at $1.80 per share in consideration for the cancellation by Chenxin of certain
advances equal to $1,468,167 (the &ldquo;<U>Advances</U>&rdquo;) made by Chenxin to the Company pursuant to an oral arrangement
by and between the Company and Chenxin in 2009 (the &ldquo;<U>Oral Agreement</U>&rdquo;). The Oral Agreement is summarized in Exhibit
10.11 to Amendment No. 1 to the Company&rsquo;s Annual Report on Form 10-K as filed by the Company with the Securities and Exchange
Commission on December 27, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Advances were related to legal and professional
fees incurred by the Company which were not payable in Chinese RMB (audit and audit-related expenses, legal fees, fees payable
to the Company's transfer agent and EDGAR agent, and fees paid to NASDAQ relating to the Company's NASDAQ listing). The Advances
were also reflected on the Company&rsquo;s consolidated balance sheet at December 31, 2011 as outstanding amounts due to a shareholder
and were unsecured, interest free and without any fixed repayment terms. The forgoing description of the Agreement does not purport
to be complete and is qualified in its entirety by reference to the Agreement, which is attached as Exhibit 10.1 to this Current
Report on Form 8-K which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exhibits</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 63%; border-bottom: windowtext 1pt solid; font-weight: bold">Item</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; font-weight: bold">Location</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Exhibit 10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Indebtedness Conversion Agreement, dated April 20, 2012, by and between Guanwei Recycling Corp., a Nevada corporation and Chenxin International Limited, a Hong Kong company</TD>
    <TD>&nbsp;</TD>
    <TD>Provided herewith</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE PAGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 25, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.1pt; font-weight: bold">GUANWEI RECYCLING CORP.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-style: italic">/s/&nbsp;Chen Min</TD>
    <TD STYLE="border-bottom: white 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Name:</TD>
    <TD STYLE="vertical-align: bottom">Chen Min</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD COLSPAN="2">Chief Executive Officer and Chairman of the Board of Directors</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v310650_8k.htm", "description": "CURRENT REPORT", "secsgml_size_bytes": 15193}]
{"company-data": {"conformed-name": "Guanwei Recycling Corp.", "cik": "0001425715", "assigned-sic": "3080", "irs-number": "000000000", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34692", "film-number": "12780528"}, "business-address": {"street1": "RONG QIAO ECONOMIC ZONE", "street2": "FUQING CITY,", "city": "FUJIAN PROVINCE", "state": "F4", "zip": "300500", "phone": "86-591 8537-2532"}, "mail-address": {"street1": "RONG QIAO ECONOMIC ZONE", "street2": "FUQING CITY,", "city": "FUJIAN PROVINCE", "state": "F4", "zip": "300500"}, "former-company": [{"former-conformed-name": "MD Holdings Corp", "date-changed": "20080204"}, {"former-conformed-name": "MD Holding Corp", "date-changed": "20080131"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):  April
20, 2012
GUANWEI
RECYCLING CORP.
(Exact name of registrant as specified in
its charter)
Nevada
000-53825
98-0669936
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Rong Qiao Economic Zone
Fuqing City
Fujian Province
People's Republic of China
300500
(Address of principal executive offices)
Registrant's telephone number, including
area code:
(86-591) 8536-6197
(Former Name or Former Address if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction
A.2. below):
o
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act   (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act   (17 CFR 240.13e-4(c))
Item 1.01.   Entry into a Material Definitive
Agreement.
On April 20, 2012, Guanwei Recycling Corp.
(the "
Company
"), a Nevada corporation entered into an Indebtedness Conversion Agreement (the "
Agreement
")
with Chenxin International Limited ("
Chenxin
"), a Hong Kong company and a shareholder of the Company which is
controlled by Mr. Rui Wang, a director of the Company, pursuant to which the Company shall issue 815,648 shares of the Company's
common stock, par value $0.001 per share, to Chenxin at $1.80 per share in consideration for the cancellation by Chenxin of certain
advances equal to $1,468,167 (the "
Advances
") made by Chenxin to the Company pursuant to an oral arrangement
by and between the Company and Chenxin in 2009 (the "
Oral Agreement
"). The Oral Agreement is summarized in Exhibit
10.11 to Amendment No. 1 to the Company's Annual Report on Form 10-K as filed by the Company with the Securities and Exchange
Commission on December 27, 2011.
The Advances were related to legal and professional
fees incurred by the Company which were not payable in Chinese RMB (audit and audit-related expenses, legal fees, fees payable
to the Company's transfer agent and EDGAR agent, and fees paid to NASDAQ relating to the Company's NASDAQ listing). The Advances
were also reflected on the Company's consolidated balance sheet at December 31, 2011 as outstanding amounts due to a shareholder
and were unsecured, interest free and without any fixed repayment terms. The forgoing description of the Agreement does not purport
to be complete and is qualified in its entirety by reference to the Agreement, which is attached as Exhibit 10.1 to this Current
Report on Form 8-K which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d)
Exhibits
:
Exhibit No.
Item
Location
Exhibit 10.1
Indebtedness Conversion Agreement, dated April 20, 2012, by and between Guanwei Recycling Corp., a Nevada corporation and Chenxin International Limited, a Hong Kong company
Provided herewith
SIGNATURE PAGE
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: April 25, 2012
GUANWEI RECYCLING CORP.
By:
/s/ Chen Min
Name:
Chen Min
Title:
Chief Executive Officer and Chairman of the Board of Directors