8-K

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

Commission File No.: 0-12122

Date of Report (Date of earliest event reported): February 2, 2009

APOLLO SOLAR ENERGY, INC.

(Name of Small Business Issuer in its Charter)

Nevada	84-0601802
(State or other jurisdiction	(I.R.S. Employer ID Number)
of incorporation or organization)

c/o American Union Securities, Inc.

100 Wall Street, 15th Floor, New York, NY 10005

(Address of principal executive offices)

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:

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 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers

On February 2, 2009 Mr. Fong Heung Sang (Dexter), was appointed Chief Financial Officer of the Company for a fixed term of two years.  Mr. Fong will also serve as a member of the Company’s board of directors.

Pursuant to his employment, Mr. Fong will be entitled to receive an annual base salary of $70,000, increasing to $90,000 in June 2009 and further increasing to $110,000 in January 2010 and has been granted options to acquire 750,000 shares of the Company’s common stock which will vest in equal installments over the twenty-four month period of his employment.

 Mr. Fong, age 49, served as Executive Vice President of Corporate Development of FUQI International, Inc. (Nasdaq GM:FUQI), a leading designer of high quality precious metal jewelry in China from December 2006 to January 2009. Mr. Fong served as the managing partner of Iceberg Financial Consultants, a financial advisory firm based in China that advises Chinese clients in capital raising activities in the United States from January 2004 to November 2006.

 In connection with the foregoing, Yong Ling ceased to act as the Company’s Chief Financial Officer immediately prior to Mr. Fong’s appointment. Mr. Ling has also resigned his position on the Company’s board of directors. Mr. Ling will retain his position as Chief Accounting Officer of Sichuan Apollo Solar Science & Technology Co., Ltd, a wholly owned subsidiary of Apollo Solar Energy, Inc.

Item 9.01. Financial Statements and Exhibits

(d)   Exhibits

        The following are filed as exhibits to this report

Exhibit No.	Description
99.1	Press Release, dated February 2, 2009

2 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	APOLLO SOLAR ENERGY, INC.
February 2, 2009	By:	/s/ Renyi Hou
		Name:  Renyi Hou
		Title: Chief Executive Officer

3

EX-99.1 CHARTER

Apollo Solar Energy Appoints Dexter Fong as

Chief Financial Officer

CHENGDU, China, Feb. 2 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner, refiner and producer of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, today announced that Dexter Fong has been appointed to the Chief Financial Officer position effective immediately. Mr. Fong will also serve as a member of the Company's Board of Directors.

Mr. Fong has over 23 years of financial and executive experience working with private and public Chinese companies. Most recently, from December 2006 to January 2009, he served as Executive Vice President of Corporate Development of FUQI International, Inc. (Nasdaq: FUQI - News), a leading designer of high quality precious metal jewelry in China, where he helped guide the company through a successful IPO. Prior to this role, from January 2004 to November 2006, Mr. Fong served as a Managing Partner of Iceberg Financial Consultants, a financial advisory firm based in China that advises Chinese clients in capital raising activities in the United States. He also served as the Chief Executive Officer of Holley Communications, a Chinese company engaged in CDMA chip and cell phone design. A U.S. certified public accountant (CPA), Mr. Fong had held various positions with accounting firms in the United States and Hong Kong, including Deloitte and Touche, Ernst and Young, and KPMG Peat Marwick. He received a Diploma in History from the Hong Kong Baptist College in 1982, a MBA from the University of Nevada at Reno in 1989, and a Masters in Accounting from the University of Illinois at Urbana Champaign in 1993.

Mr. Renyi Hou, Chief Executive Officer of Apollo Solar commented, "Our tellurium business is making excellent progress, and it is the right time to bring on a highly experienced financial executive. We're thrilled to welcome Dexter to Apollo's executive team, as he brings significant financial experience at both private and public companies in China, as well as at top audit firms in the U.S. He has a deep understanding of finance, accounting and the capital markets, and he will help shape our overall business and financial operations to further advance our strategic objectives. Dexter is a valuable addition to our executive team, and we look forward to his future contributions."

"I am excited to join such a fantastic company," said Fong. "I believe Apollo Solar Energy has tremendous growth potential, and I look forward to working with the other members of the management team as we implement the Company's financial and operational strategies."

In connection with this announcement, Mr. Yong Ling has resigned from his position as the Company's Chief Financial Officer and the Company's Board of Directors. Mr. Ling will remain as Chief Accounting Officer of Sichuan Apollo Solar Science & Technology Co., Ltd., a wholly owned subsidiary of Apollo Solar Energy, Inc.

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar S&T Co., Ltd., is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, Ultra- high purity metals, and commercial-purity metals.

Safe Harbor Statement

The statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," "expect" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the potential growth of the markets or forecasting financial results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this filing, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.