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").
Management Statement
Mr. Shenping Yin, Founder and CEO
of Recon said, "Since the rise in oil and gas prices from the year
2021, our major clients, China's
oil companies' performances have been improving, Recon's business
is also benefiting from this trend. In terms of the overall orders
and business volumes, the Company's gross revenues from its various
operations have recovered to pre-2020 levels. Generally, while the
first quarter is an off-season for Recon, we see many new
opportunities and the orders secured for January and February have
been doubled YoY. This is partly due to increased market demand,
but also contributed to products and services constantly being
improved and enhanced."
"In recent times, our management have received numerous
inquiries from shareholders about the Company's market performance
and business development. We greatly appreciate the concerns from
shareholders and will always strive to maximize the company and the
shareholders' long term value as our ultimate missions. From year
2022, we will increase our communication with investors and make
regular disclosure about business progress and contracts
information to help investors know in time what is happening for
the Company. We also welcome the investors' timely inquiries and
will always be glad to respond in a proper way."
About Recon Technology, Ltd ("RCON")
Recon Technology, Ltd (NASDAQ: RCON) is China's first NASDAQ-listed non-state owned
oil and gas field service company. Recon supplies China's largest oil exploration companies,
Sinopec (NYSE: SNP) and The China National Petroleum Corporation
("CNPC"), with advanced automated technologies, efficient gathering
and transportation equipment and reservoir stimulation measure for
increasing petroleum extraction levels, reducing impurities and
lowering production costs. Through the years, RCON has taken
leading positions on several segmented markets of the oil and gas
filed service industry. RCON also has developed stable long-term
cooperation relationship with its major clients, and its products
and service are also well accepted by clients. For additional
information please visit: http://www.recon.cn/.
Forward-Looking Statements
Recon includes "forward-looking statements" within the meaning
of the federal securities laws throughout this release. A reader
can identify forward-looking statements because they are not
limited to historical fact or they use words such as "scheduled,"
"may," "will," "could," "should," "would," "expect," "believe,"
"anticipate," "project," "plan," "estimate," "forecast,"
"goal," "objective," "committed," "intend," "continue," or "will
likely result," and similar expressions that concern Recon's
strategy, plans, intentions or beliefs about future occurrences or
results.
Forward-looking statements are subject to risks, uncertainties
and other factors that may change at any time and may cause actual
results to differ materially from those that Recon expected. Many
of these statements are derived from Recon's operating budgets and
forecasts, which are based on many detailed assumptions that Recon
believes are reasonable, or are based on various assumptions about
certain plans, activities or events which we expect will or may
occur in the future. However, it is very difficult to predict the
effect of known factors, and Recon cannot anticipate all factors
that could affect actual results that may be important to an
investor. All forward-looking information should be evaluated in
the context of these risks, uncertainties and other factors,
including those factors disclosed under "Risk Factors" in Recon's
most recent Annual Report on Form 20-K and any subsequent filings
with the Securities and Exchange Commission.
All forward-looking statements are qualified in their entirety
by the cautionary statements that Recon makes from time to time in
its SEC filings and public communications. Recon cannot assure the
reader that it will realize the results or developments Recon
anticipates, or, even if substantially realized, that they will
result in the consequences or affect Recon or its operations in the
way Recon expects. Forward-looking statements speak only as of the
date made. Recon undertakes no obligation to update or revise any
forward-looking statements to reflect events or circumstances
arising after the date on which they were made, except as otherwise
required by law. As a result of these risks and uncertainties,
readers are cautioned not to place undue reliance on any
forward-looking statements included herein or that may be made
elsewhere from time to time by, or on behalf of, Recon.
For more information, please contact:
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5799
Email: info@recon.cn
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SOURCE Recon Technology, Ltd.