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.

Recon Technology Ltd. engages in providing oilfield services. 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 includes 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. 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 , Oct. 30, 2024 /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 2024. Fiscal Year Ended June 30, 2024 Financial Highlights: Total revenue increase by approximately RMB1.7 million ($0.2 million) or 2.6% to RMB68.8 million ($9.5 million) for the year ended June 30, 2024 from RMB67.1million ($9.2 million) for the same period in 2023.

Recon Technology, Ltd Reports Financial Year Results for Fiscal Year 2024

Recon Technology (RCON, Financial) experienced a significant drop of 5.41% in its stock price to $2.80 per share. The trading volume reached 30,236 shares with a turnover rate of 0.11% and an amplitude of 10.81%.

RCON Stock Dips by 5.41% Amid Latest Financial Data Release

BEIJING , June 28, 2024 /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 2024. First Six Months of Fiscal 2024 Financial Highlights: - Total revenue w as RMB45.3 million ($6.4 million) for the six months ended December 31, 2023, identical to the same period in 2022.

Recon Technology, Ltd Reports Financial Results for the First Six Months of Fiscal Year 2024

BEIJING , May 23, 2024 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today that on May 22, 2024, it had received a letter dated May 22, 2024 (the "Compliance Letter") from the Listing Qualifications Hearings Department of Nasdaq notifying the Company that (i) the Company's bid price deficiency had been cured and (ii) the Company was in compliance with all applicable listing standards.

Recon Technology Regains Nasdaq Compliance; Hearing Moot

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BEIJING , April 29, 2024 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today that on April 23, 2024, it has received a Staff determination letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company of the Staff's determination to delist the Company's securities from The Nasdaq Capital Market because the Company currently fails to satisfy the requirement that the closing bid price of its securities remain at $1.00 or higher as required by Nasdaq Listing Rule 5810(c)(3)(A) (the "Minimum Bid Price Rule").

Recon Technology Receives Nasdaq Delisting Determination; Submits Appeal

BEIJING , April 25, 2024 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today that the Company's shareholders approved on March 29, 2024 to effect a reverse stock split of the Company's Class A ordinary shares at the ratio of one-for-eighteen with the market effective date of May 1, 2024.

Recon Technology Announces 1-for-18 Reverse Stock Split

BEIJING , March 11, 2024 /PRNewswire/ -- Recon Technology Ltd ("Recon" or the "Company"), a China-based provider of oilfield services and low-carbon energy services, today announced two recently awarded bids from a newly developed oilfield-industry customer for the supply of electronic components and materials used in oilfield production. The total value of these contracts exceeds US$3 million and represents a significant milestone for the Company.

Recon Technology Secures US$3 Million in Contracts with Newly Developed Customer for Electronic Components and Materials

BEIJING , March 4, 2024 /PRNewswire/ -- Recon Technology Ltd ("Recon" or the "Company"), a China-based oilfield service provider and low-carbon energy service provider, today announced that it will participate in the 2024 Plastics Recycling Conference in Grapevine, Texas, from March 25th to 27th. At the conference, Recon will showcase its solutions for low value plastic chemical recycling, including its solution on waste plastic collection and treatment, basic processing and techniques, factory construction progress and expected production capacity, and main outputs of the process.

Recon Technology to Exhibit Plastic Chemical Recycling Solutions at 2024 Plastics Recycling Conference in Texas

BEIJING, Oct. 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 its financial results for fiscal year 2023. Fiscal Year Ended June 30, 2023 Financial Highlights: -  Total revenue decreased by approximately RMB16.7 million ($2.3 million) or 19.9% to RMB67.1 million ($9.3 million) for the year ended June 30, 2023 from RMB83.8million ($12.5 million) for the same period in 2022.

Recon Technology, Ltd Reports Financial Year Results for Fiscal Year 2023

BEIJING , Oct. 27, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that on October 25, 2023, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through April 22, 2024. To regain compliance with NASDAQ's minimum bid price requirement, the closing bid price of the Company's ordinary shares needs to be at least $1.00 per share or greater for at least ten consecutive trading days by April 22, 2024.

Recon Receives NASDAQ Minimum Bid Price Requirement Extension

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BEIJING , July 18, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") is proud to announce a strategic partnership between its affiliate, Future Gas Station (Beijing) Technology Ltd. ("FGS") and Jiangsu Jiademan Information Technology Co., Ltd.

Future Gas Station and Jiangsu Jiademan Join Forces to Revolutionize Fueling Services for a Leading Digital Freight Platform

BEIJING , July 3, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") announced today that Recon Hengda Technology (Beijing) Co., Ltd. ("Recon BJ"), a domestic subsidiary of Recon, has entered into a strategic partnership with Changxia Digital Energy Technology (Hubei) Co., Ltd.

Recon Technology, Ltd Establishes Strategic Partnership with Changxia Digital Energy Technology (Hubei) Co., Ltd., a China Three Gorges Corporation Affiliate

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BEIJING , June 7, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that Nanjing Recon Technology Co., Ltd ("Nanjing Recon") has been awarded a contract worth RMB 6,104,000 (or USD 1.0 million) for the Ground Control Project in the Deep Shale Gas Field at a Well Area in Chongqing City located in mainland China. The Company will commence the project upon contract execution and expects to complete services no later than December 31, 2024.

Recon Technology, Ltd Awarded a RMB6.1 Million Contract for Ground Control Project in Deep Shale Gas Field

BEIJING , April 28, 2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that on April 27, 2023, 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 , 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.

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