Recon Technology

Recon Technology Ltd. is a provider of oilfield specialized equipment, automation systems, tools, chemicals, and field services to petroleum companies mainly in the PRC. It operates through the following segments: Automation Product and Software, Equipment and Accessories, Oilfield Environmental Protection, and Platform Outsourcing Services. The Automation Product and Software segment is involved in the sale of automation products specialized equipment when combined with services represent a single performance obligation for the development and construction of a single asset. The Equipment and Accessories segment consists of the delivery of standard or customized products and equipment, including automation products, furnaces and related accessories. The Oilfield Environmental Protection segment focuses on the wastewater treatment products and related service to oilfield and chemical industry companies and generates revenue from special equipment, self-developed chemical products and supporting service, transfer. The Platform Outsourcing Services segment refers to online platform development, maintenance, and operation services to gas stations around different provinces in China. The company was founded by Guang Qiang Chen, Hong Qi Li, and Shen Ping Yin on August 21, 2007 and is headquartered in Beijing, China.

China Petroleum & Chemical

BEIJING , March 24, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced its financial results for the first six months of fiscal year 2023. First Six Months of Fiscal 2023 Financial Metrics: Total revenue decreased by approximately RMB8.8 million ($1.3 million) or 16.3% to RMB45.6 million ($6.6 million) for the six months ended December 31, 2022 from RMB54.4 million for the same period in 2021.

Recon Technology, Ltd Reports Financial Results for the First Six Months of Fiscal Year 2023

BEIJING , March 17, 2023 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today the closing of its previously announced registered direct offering with certain accredited investors to purchase approximately $8 million worth of its Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) in a registered direct offering, and Class A ordinary shares warrants in a concurrent private placement, for proceeds of approximately $8 million.

Recon Technology Announces Closing of $8 million Registered Direct Offering

BEIJING, March 15, 2023 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today it has entered into a securities purchase agreement with certain accredited investors on March 15, 2023 to purchase approximately $8 million worth of its Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) in a registered direct offering, and Class A ordinary shares warrants in a concurrent private placement.

Recon Technology Announces Pricing of $8 million Registered Direct Offering

BEIJING , March 2, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that it has formulated preliminary plans to expand into the plastics chemical recycling business. Recon also attended the 27th China Plastics Recycling Conference and Exhibition held on February 28 at Dongguan City of Guangdong Province to explore cutting-edge technologies that work to achieve circular economy goals in eliminating waste and pollution, keeping products and materials in continuous use, and regenerating natural systems.

Recon Plans to Expand into the Plastics Chemical Recycling Business and Attended the 27th China Plastics Recycling Conference and Exhibition to Explore Cutting-Edge Technologies

BEIJING , Feb. 27, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that a mainland China variable interest entity's subsidiary, Nanjing Recon Technology Co. ("Nanjing Recon"), has achieved preliminary progress on the research and development ("R&D") of a new energy-efficient electric pump that is being conducted at some oilfield sites in China. The R&D work on the new energy-efficient electric pump commenced on September 2021 Through 18 months of on-site testing, the lab data shows the R&D work has achieved initial experimental results.

Recon Announces Progress on the Research and Development of New Energy-Efficient Electric Pump

BEIJING , Dec. 19, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that a mainland China variable interest entity's subsidiary, Beijing BHD Petroleum Technology Co., Ltd. ("Beijing BHD") was awarded a new RMB1.31 million ($0.19 million) contract to provide gas flares for oil and gas fields operated by a leading China oil and gas company in the Northwestern Qinghai province.

Recon Awarded New Contract to Provide Gas Flares for Oil and Gas Fields in China's Northwestern Qinghai Province

BEIJING , Dec. 8, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that a mainland China variable interest entity's subsidiary, Huang Hua BHD Petroleum Equipment Manufacturing Co. Ltd. ("HH BHD") was awarded a RMB3.97 million ($0.57 million) contract to provide high efficiency heating furnaces equipment for a leading China oil and gas company.

Recon Awarded RMB3.97 Million New Contract to Provide High Efficiency Heating Furnaces Equipment for Leading China Oil and Gas Company

BEIJING , Nov. 30, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that Nanjing Recon Technology Co. ("Nanjing Recon") has been awarded a RMB6.73 million (approximately USD 0.94 million) two-year contract to provide automation control and instrumentation maintenance services for a gas generation plant operated by a top mainland China's oil and gas company. Pursuant to the contract, Nanjing Recon, a variable interest entity of with contractual ties to a subsidiary of Recon Hengda Technology (Beijing) Co., Ltd.

Recon Awarded RMB6.7 Million Contract to Provide Automation Control and Instrumentation Maintenance Services for China Gas Generation Plant

BEIJING , Nov. 23, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that Nanjing Recon Technology Co. ("Nanjing Recon") has renewed its "High-Tech Enterprise" status granted by China Jiangsu provincial government. The three-year designation is one of the highest local awards for Chinese technology companies and makes Nanjing Recon eligible for local government incentives such as a lowered income tax rate to 15%.

Nanjing Recon Technology Co. renewed its "High-Tech Enterprise" Statue by China Jiangsu Province

BEIJING , Nov. 14, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") announced today an update to investors and shareholders on questions posed about the state of its business, challenges facing its business, its current state of affairs and its plans for the future in a virtual meeting held on November 10, 2022.  The Company previously issued a press release on November 4, 2022 about the virtual investor call which included a question-and-answer portion for shareholders.

Recon Technology, Ltd Held Virtual Investor Call on Thursday, November 10, 2022

BEIJING, Nov. 10, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") announced today that on November 8, 2022, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has cured the bid price deficiency, and that the Company is in compliance with all applicable listing standards. The Company's stock will continue to be listed and traded on The Nasdaq Stock Market.

RECON REGAINS COMPLIANCE WITH NASDAQ MINIMUM BID PRICE REQUIREMENT

BEIJING , Nov. 9, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that its subsidiary Qing Hai BHD New Energy Technology Co Ltd ("Qinghai BHD") has entered into eight-year cooperation agreement with electrical grid peak load leveling service provider Tianjin Anjie IoT Technology Co Ltd ("Tianjin Anjie"). Pursuant to the agreement, Qinghai BHD and Tianjin Anjie will jointly utilize their business strength, service scope, market resources and technical advantages to explore and develop business opportunities in peak load balancing services for power grid projects.

Recon Technology, Ltd Enters into Long-Term Cooperation Agreement with Electrical Grid Peak Load Leveling Service Provider Tianjin Anjie IoT Technology Co Ltd, To Develop Electricity Grid Peak Load Leveling Services

BEIJING , Nov. 4, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced it will host a virtual investor meeting on Thursday, November 10, 2022 from 9:00 am Eastern Time to 9:30 am Eastern Time. Senior management will discuss Recon's business strategies and outlook.

Recon Technology, Ltd to Host Virtual Investor Meeting on Thursday, November 10, 2022

BEIJING , Oct. 28, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced its financial results for fiscal year 2022. Fiscal Year Ended June 30, 2022 Financial Highlight: Total revenue increased by approximately RMB35.9 million ($5.3 million) or 74.8% to RMB83.8 million ($12.5 million) for the year ended June 30, 2022 from RMB47.9 million for the same period in 2021.

Recon Technology, Ltd Reports Financial Year Results for Fiscal Year 2022

BEIJING , Oct. 25, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that Nanjing Recon Technology Co. has entered into a 2-year outsourced service agreement with a domestic customer to provide maintenance and overhaul services in an amount totaling approximately RMB3.2 million. Nanjing Recon Technology Co. is a variable interest entity of Hengda Technology (Beijing) Co., Ltd.

Recon Announces a RMB3.2 Million, 2-Year Service Agreement

BEIJING , Sept. 12, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that Future Gas Station (Beijing) Technology Ltd.

FGS and G7 launch new commercial logistics vehicles fuel solutions that combine operational efficiency and carbon neutrality

BEIJING , July 20, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") announced today an update to investors and shareholders on the current state of its business, challenges facing its business, its current state of affairs and its plans for the future. Management views this update as a step toward enhancing regular communications with shareholders and investors.

RECON ISSUES SHAREHOLDER UPDATE

BEIJING , June 3, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that on June 1, 2022, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's ordinary shares was below $1.00 per share for a period of 30 consecutive business days.

Recon Receives NASDAQ Notification Regarding Minimum Bid Requirements

BEIJING , May 11, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that the mainland China variable interest entity with whom its subsidiary, Recon Hengda Technology (Beijing) Co., Ltd. has entered into a 3-year service agreement with one domestic oilfield client to provide a complete-set of solutions for oily wastewater treatments.

Recon Announces 3-Year Oily Wastewater Treatment Service Agreement

BEIJING , April 13, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that Future Gas Station (Beijing) Technology Ltd. ("FGS"), a subsidiary of two mainland China variable interest entities with contractual ties to the Company's subsidiary, Recon Hengda Technology (Beijing) Co., Ltd.

FGS Announces Strategic Cooperation with China Minsheng Bank Kunming Branch

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BEIJING, March 30, 2022 /PRNewswire/ -- Recon Technology, Ltd (Nasdaq: RCON) ("Recon" or the "Company"), today announced its financial results for the first six months of Fiscal Year 2022. First Six Months of Fiscal 2022 Financial: Total revenues for the six months ended December 31, 2021 increased by 116.2% to $8.6 million (RMB54.4 million), while revenue from our oily sludge and waste water segments increased by 605.9% or $2.7 million (RMB16.9 million).

Recon Technology, Ltd Reports Financial Results for the First Six Months of Fiscal Year 2022

BEIJING, March 1, 2022 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced several contracts signed recently by its domestic VIE companies and reported the progress on its business segments so far for the year 2022: For its automation business segment, the Company was awarded RMB3.26 million in contracts by the Shenhua Group in January and February. For its equipment and accessories business segments, the Company won RMB2.39 million in contracts in January and February, which include contracts for furnaces accessories and electric submersible progressing cavity pump; and Online transactions through FGS' digitization services for gas stations of for year 2022 have also been 100% increased year-to-year ("YoY").

Recon Announces some recent contracts and business progress

BEIJING, Jan. 31, 2022 /PRNewswire/ -- Recon Technology Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that its mainland China variable interest entity has entered into a technical service contract with a Dalian-based petrochemical company, Dalian West Pacific Petrochemical Company Limited ("WEPEC" or the "Refining Company") to provide three years of operation and maintenance services on metering instruments such as alarms and flow meters that are used for the daily operation of production facilities within refineries. The total amount of the contract is RMB6.87 million.

Recon Announces RMB6.87 Million Metering Instrument Maintenance Contract with a Refining and Chemical Company

BEIJING, Jan. 24, 2022 /PRNewswire/ -- Recon Technology Limited ("Recon" o r the "Company") today announced that Future Gas Station (Beijing) Technology Ltd. ("FGS"), a mainland China variable interest entity's subsidiary connected to the Company and a technology service vendor, has assisted a China-based oil sale company in launching a new product named "Carbon Neutral Box", also known as "CNB".

News for Recon Technology Stock (RCON)