Recon Technology Regains Nasdaq Compliance; Hearing Moot

Written by Emily J. Thompson, Senior Investment Analyst

Source: PRnewswire

Updated: May 23 2024

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Should l Buy RCON?

Source: PRnewswire

Recon Technology Compliance Letter: Recon Technology, Ltd. received a Compliance Letter from Nasdaq stating that the bid price deficiency was cured, and the company is in compliance with all listing standards.
About Recon Technology, Ltd: Recon Technology, Ltd is China's first NASDAQ-listed non-state owned oil and gas field service company, supplying advanced technologies to major oil exploration companies in China.
Forward-Looking Statements: The press release includes forward-looking statements regarding Recon's future plans, strategies, and beliefs about potential occurrences or results.
Risk Factors: Recon acknowledges risks and uncertainties that could impact actual results, urging caution when interpreting forward-looking information.
Update Commitment: Recon commits to updating or revising forward-looking statements as required by law, emphasizing the importance of considering risks and uncertainties.

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About RCON

Recon Technology Ltd is a holding company mainly engaged in the research, development and sales of oilfield automation products, oilfield production enhancement measures and special equipment. The Company operates four segments. The Automation Product and Software segment mainly provides pumping unit controller, remote terminal unit (RTU) used to monitor natural gas wells, wireless dynamometer and wireless pressure gauge, and natural gas flow computer system. The Equipment and Accessories segment mainly provides heating furnaces and burner for oil and gas production and transportation. The Oilfield Environmental Protection segment provides wastewater treatment products and related service, as well as oily sludge disposal and treatment services to oilfield companies. The Platform Outsourcing Services segment provides online platform development and maintenance services to gas stations, and application programming interface (API) port export services and related maintenance services.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Recon Achieves Milestone: Construction of Chemical Recycling Plant Completed as Project Approaches Production Start

Aug 25 2025Newsfilter

Project Milestone: Recon Technology Ltd. announced the successful topping out of its 40,000-ton-per-year waste plastic chemical recycling project in Shandong, marking a significant step towards equipment installation and commissioning.
Investment and Returns: The company has invested over $15 million into the project, which is expected to generate annual returns of approximately $30 million upon full completion by November 2025.
Technological Innovations: The project utilizes advanced technologies including a dual-process approach of catalytic pyrolysis and catalytic reforming, aimed at enhancing the value of pyrolysis oil produced from difficult-to-recycle plastic waste.
Future Goals: CEO Yin Shenping emphasized the commitment to establishing the facility as a leading benchmark in plastic recycling, focusing on operational efficiency, environmental performance, and compliance with international sustainability certifications.

Analysts’ Opinions Are Mixed on These Energy Stocks: ARC Resources (OtherAETUF) and Recon Technology (RCON)

Apr 05 2025Business Insider

ARC Resources Analysis: Analysts maintain a Buy rating on ARC Resources with a price target of C$32.00, indicating a strong buy consensus and potential upside from current share prices.
Recon Technology Rating: Recon Technology receives a Hold rating from analysts, reflecting a cautious outlook with no significant growth expectations.

Recon Technology, Ltd Reports Financial Results for the First Six Months of Fiscal Year 2025

Mar 31 2025PRnewswire

Financial Performance Overview: Recon Technology, Ltd reported a revenue decrease to RMB42.1 million ($5.8 million) for the first six months of fiscal 2025, down 7% from the previous year, while gross profit increased to RMB13.4 million ($1.8 million), resulting in an improved gross margin of 31.7%. The net loss decreased to RMB20.7 million ($2.8 million) compared to RMB23.1 million ($3.2 million) in the same period last year.
Future Outlook and Developments: CEO Shenping Yin highlighted an anticipated rebound in business, particularly in digital solutions and oilfield environmental protection sectors, alongside significant progress in a chemical recycling plant project set to begin construction in April 2025.

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

Oct 30 2024PRnewswire

Financial Performance Overview: Recon Technology, Ltd reported a 2.6% increase in total revenue to RMB68.8 million ($9.5 million) for the fiscal year ending June 30, 2024, with gross profit rising to RMB20.9 million ($2.9 million) and a reduced net loss of RMB51.4 million ($7.1 million), down from RMB61.4 million ($8.5 million) in the previous year.
Future Growth Prospects: The CEO highlighted opportunities for growth in the oil industry as China's investment continues, with plans to expand into broader energy sectors, including carbon-zero initiatives and chemical recycling, while also anticipating increased business volume in oilfield services.