Welcome to our dedicated page for Recon Technology news (Ticker: RCON), a resource for investors and traders seeking the latest updates and insights on Recon Technology stock.
Recon Technology, Ltd. (NASDAQ: RCON) generates news across oilfield services, environmental protection and low-carbon energy projects in China and abroad. As the first NASDAQ-listed non-state-owned oil and gas field service company in the People's Republic of China, Recon regularly reports on its financial performance, contract wins, project milestones and regulatory developments that affect its business.
Investors following RCON news will see detailed updates on segment performance in automation products and software, equipment and accessories, oilfield environmental protection and platform outsourcing services. The company issues earnings releases for its fiscal year and interim periods, highlighting changes in revenue, gross profit, gross margin, operating expenses, interest income and net loss, along with management commentary on demand from oilfield and non-oilfield customers.
Recon's news flow also covers strategic initiatives in low-carbon and recycling activities. Announcements have described the construction progress of the Recon Plastic Chemical Recycling Project in Shandong, including the topping out of the main manufacturing plant, the transition into equipment installation and commissioning, and the planned processing of low-value waste plastics using catalytic pyrolysis and catalytic reforming technologies.
In addition, RCON news items include information on major service contracts, such as automation system upgrades and retrofits for large gas fields in Asia, and contracts to supply electronic components and materials for oilfield production. Regulatory and listing-related updates, including Nasdaq compliance matters and the 1-for-18 reverse stock split of Recon's Class A ordinary shares, are also disclosed through company press releases.
By monitoring this news page, readers can review a chronological record of Recon's financial disclosures, project updates, contract announcements and capital market actions that shape the company’s operations and outlook within the oilfield service and environmental sectors.
Recon Technology (NASDAQ: RCON) reported first six months of fiscal 2026 results for the period ended December 31, 2025.
Key highlights: Revenue rose to RMB85.0 million (+102.2% year-over-year), gross profit to RMB28.5 million, and gross margin to 33.5%. Net loss narrowed to RMB7.2 million from RMB20.7 million a year ago. Cash was approximately RMB75.1 million as of December 31, 2025.
Recon Technology (NASDAQ: RCON) reported fiscal 2025 results for the year ended June 30, 2025: revenue RMB66.3M (down 3.7% vs. 2024), gross profit RMB15.2M and gross margin 23.0% (down from 30.3%). Net loss narrowed to RMB43.7M from RMB51.4M. Management highlighted client diversification into non-oilfield and overseas oilfield customers and started construction of a chemical recycling factory on April 28, 2025, expected complete by end of 2025. Cash was RMB98.9M and short-term investment was RMB3.6M as of June 30, 2025.
Recon Technology (NASDAQ:RCON) has announced the completion of the main manufacturing plant construction for its 40,000-ton-per-year waste plastic chemical recycling project in Shandong. The $15 million project is entering its equipment installation phase and is expected to be fully operational by December 2025 after a one-month trial period.
The facility, spanning 50 acres, will feature six pyrolysis units and two distillation units, targeting annual production of 30,000 tons of plastic pyrolysis oil and 6,000 tons of carbon residue. The project is projected to generate $30 million in annual returns. The company has already secured product purchase intent agreements with multinational chemical companies.
The project employs innovative dual-process technology combining catalytic pyrolysis and catalytic reforming, featuring a first-of-its-kind horizontal screw-type three-stage continuous reactor to address plastic coking challenges.
Recon Technology (NASDAQ: RCON), China's first NASDAQ-listed non-state-owned oil and gas field service company, has secured contracts worth $5.85 million to upgrade and retrofit automation systems for a major Asian gas field. The project, scheduled for completion within the next calendar year, involves maintenance services to ensure the gas field's capacity supply.
The company, which provides services to China's largest oil exploration companies Sinopec and CNPC, views this as a significant milestone in its international market expansion, following its previous international contract from 2012. The award demonstrates Recon's technical capabilities and strong relationships in the oilfield automation market.
Recon Technology (NASDAQ: RCON) reported financial results for H1 FY2025, showing mixed performance. Total revenue decreased 7.0% to RMB42.1 million ($5.8 million), while gross profit increased to RMB13.4 million ($1.8 million). The company's gross margin improved to 31.7% from 26.7% year-over-year.
Notable segment performance included:
- Automation product revenue increased 19.2%
- Equipment and accessories revenue declined 12.2%
- Oilfield environmental protection revenue decreased 66.2%
- Platform outsourcing services revenue grew 53.7%
The company reported a net loss of RMB20.7 million ($2.8 million), an improvement from the previous year's loss of RMB23.1 million. As of December 31, 2024, RCON maintained a strong cash position of RMB145.3 million ($19.9 million).
Recon Technology (NASDAQ: RCON) reported its fiscal year 2024 financial results, showing a modest revenue increase of 2.6% to RMB68.8 million ($9.5 million) compared to FY2023. The company's gross profit improved to RMB20.9 million ($2.9 million), with gross margin increasing to 30.3%. Despite these improvements, RCON recorded a net loss of RMB51.4 million ($7.1 million), though this represents a decreased loss compared to the previous year's RMB61.4 million. The company maintains a strong cash position of RMB110.0 million ($15.1 million) and short-term investments of RMB88.1 million ($12.1 million) as of June 30, 2024.
Recon Technology, (NASDAQ: RCON) announced its financial results for the first six months of fiscal year 2024.
Total revenue was RMB45.3 million ($6.4 million), consistent with the same period in 2022. Gross profit decreased to RMB12.1 million ($1.7 million), and gross margin dropped to 26.7% from 28.8% in 2022.
The company reported a net loss of RMB23.1 million ($3.3 million), down from RMB29.9 million ($4.2 million) in the same period last year. Management highlighted recovery in the oilfield services business, development of new offshore customers, and ongoing construction of a chemical recycling plant, expected to generate substantial future returns.
Revenue from equipment and accessories rose by 83.6% to RMB8.1 million ($1.1 million), while revenue from oilfield environmental protection and platform outsourcing services saw declines of 37.0% and 55.3%, respectively.
Cost of revenues increased slightly to RMB33.2 million ($4.7 million). Gross profit from automation products and software decreased by 14.3%, while cost for equipment and accessories rose by 106.1%.
Recon Technology announced on May 23, 2024, that it has regained compliance with Nasdaq's listing standards. The company received a letter from Nasdaq's Listing Qualifications Hearings Department on May 22, 2024, confirming that the bid price deficiency had been resolved. As a result, the scheduled hearing was canceled, and Recon's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market.
Recon Technology, (NASDAQ: RCON) has received a delisting determination from Nasdaq due to not meeting the Minimum Bid Price Rule. The company has appealed the decision, but if no appeal is made, trading will be suspended on May 2, 2024. The recent approval of the consolidation of its Class A ordinary shares is expected to take effect on May 1, 2024.
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