Recon Technology, Ltd. reports developments for a China-based solutions integrator serving oilfield services, environmental protection, electric power and coal chemical customers. Its news commonly covers financial results, revenue mix across automation products and software, equipment and accessories, and platform outsourcing services, as well as corporate-status notices tied to its Nasdaq-listed ordinary shares.
Company updates also describe oilfield automation and monitoring products, support services for petroleum companies, offshore oilfield activity, and low-carbon energy initiatives. Coverage includes construction progress at Shandong Recon’s waste plastic chemical recycling project, alongside recurring disclosures on profitability, gross margin and listing compliance.
Conagra Brands (CAG) reported higher first-quarter fiscal 2027 earnings despite lower sales, alongside mixed results and transactions at four other companies. Net sales fell 1.4%, while diluted earnings per share rose 5.9% to $0.36. Conagra reaffirmed guidance, including an organic sales decline of 1% to 3%.
McCormick (MKC) reported third-quarter sales growth of 17.4% and reaffirmed its fiscal 2026 outlook. Recon Technology (RCON) increased fiscal 2026 revenue 65.8% and narrowed its net loss. Yiren Digital (YRD) reported second-quarter loans facilitated down 69% year over year, alongside insurance growth and a new buyback authorization. RedHill Biopharma (RDHL) acquired Rebyota and Clenpiq commercialization rights for $12 million upfront, funded by its Talicia divestment. The Dow fell 1.93% for the week, while the 10-year Treasury yield rose 6 basis points to 5.24%.
Recon Technology (NASDAQ: RCON) reported fiscal 2026 revenue of RMB109.9 million, up 65.8% from the prior fiscal year. For the year ended June 30, 2026, gross profit rose to RMB36.5 million from RMB15.2 million, and gross margin increased to 33.2% from 23.0%. Net loss narrowed to RMB31.6 million from RMB43.7 million. Automation revenue increased 104.5%, driven by overseas oilfield projects, while domestic automation revenue declined and platform outsourcing revenue fell to zero.
Cash was RMB29.7 million, versus RMB98.9 million a year earlier; short-term investments rose to RMB9.0 million from RMB3.6 million. Recon held a ceremony marking commencement of operations at its Weifang waste-plastic recycling plant on September 28, 2026. The company plans to bring the plant to commercial production in fiscal 2027, expand overseas and offshore oilfield activity, and rebuild domestic service capabilities.
Recon Technology (RCON)/b) has regained compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2) as of September 16, 2026.Nasdaq notified the company that it is now in compliance with all applicable listing standards, closing the prior deficiency matter. The earlier issue began after a May 4, 2026 notice that Recon’s Class A ordinary shares had traded below the required $1.00 minimum bid price for 30 consecutive business days. Nasdaq’s September 16, 2026 letter confirmed that, from September 1 through September 15, 2026, the closing bid price of Recon’s Class A ordinary shares was at or above $1.00 per share for 10 consecutive business days, satisfying the rule’s cure requirement.
Recon Technology (NASDAQ: RCON) announced that its domestic affiliate, Nanjing Recon Technology, has won multiple bid sections of a production informatization system integration technical service project from a leading domestic oil and gas operator. The total contract value is about RMB 9.6 million (around US$1.33 million), excluding value-added tax, with the final amount to be settled based on the actual workload of each sub-project.
The service schedule will follow the operator's project progress, with construction and final acceptance expected to be completed by July 2028. According to Recon Technology, this competitive tender win strengthens its position in China's oil and gas digitalization and automation market and expands its service layout in domestic oilfield informatization construction and technical services.
Recon Technology (NASDAQ: RCON) has established an At-the-Market (“ATM”) Issuance Sales Agreement dated July 28, 2026, allowing it to offer and sell up to $100 million of Class A ordinary shares, par value $0.0001, from time to time through Pacific Century Securities as exclusive sales agent or principal.
Sales will occur at prices tied to prevailing market levels, with volume and timing at the company’s discretion. According to Recon Technology, net proceeds are intended for general corporate purposes, including working capital, operating expenses, capital expenditures, potential acquisitions, business development and other growth initiatives. The shares will be issued under the company’s effective Form F-3 shelf registration statement (No. 333-292540) and a prospectus supplement dated July 28, 2026, filed with the SEC. Total sales are capped by the $100 million program size, shelf capacity and the number of authorized but unissued Class A shares.
Recon Technology (NASDAQ: RCON) received a Nasdaq notice on May 4, 2026, for failing to meet the $1.00 minimum bid under Nasdaq Listing Rule 5550(a)(2) after 30 consecutive business days below $1.00.
The company has a 180-calendar-day compliance period until November 2, 2026, to regain compliance by achieving a $1.00 closing bid for 10 consecutive business days; trading will continue uninterrupted during this period.
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.