Recon Receives NASDAQ Notification Regarding Minimum Bid Requirements

Rhea-AI Summary

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.

Positive

• Ordinary shares will continue trading uninterrupted on Nasdaq
• Company has a 180-calendar-day compliance period ending November 2, 2026
• Regain compliance by achieving $1.00 for 10 consecutive business days

Negative

• Closing bid below $1.00 for 30 consecutive business days triggered deficiency
• Failure to regain compliance by November 2, 2026 may risk delisting
• Possible need to rely on an additional 180-day grace period if eligible

Key Figures

Minimum bid requirement: $1.00 per share Non-compliance duration: 30 consecutive business days Initial compliance period: 180 calendar days +3 more

6 metrics

Minimum bid requirement $1.00 per share Nasdaq Listing Rule 5550(a)(2) threshold

Non-compliance duration 30 consecutive business days Closing bid below $1.00 per share

Initial compliance period 180 calendar days Compliance Period ending November 2, 2026

Compliance deadline November 2, 2026 End of initial Nasdaq Compliance Period

Re-qualification window 10 consecutive business days Minimum period with bid at or above $1.00

Potential additional period 180 calendar days Additional grace period eligibility if still non-compliant

Market Reality Check

Vol: Reported volume is 0 shar...

normal vol

Volume Reported volume is 0 shares vs 20-day average volume of 560,480 shares. normal

Technical Technical context flags shares as trading below the 200-day MA of 48.34.

Market Pulse Summary

This announcement details a Nasdaq notice that the company failed to meet the $1.00 minimum bid pric...

Analysis

This announcement details a Nasdaq notice that the company failed to meet the $1.00 minimum bid price for 30 consecutive business days, triggering a formal deficiency under Listing Rule 5550(a)(2). The press release outlines a 180-day Compliance Period through November 2, 2026, during which the bid must reach at least $1.00 for 10 consecutive business days, and notes potential eligibility for an additional 180-day grace period if compliance is not regained by that date.

Key Terms

minimum bid price, compliance period

2 terms

minimum bid price regulatory

"not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2)"

The minimum bid price is the lowest share price that a market, regulator, or specific offering will accept for a trade, listing, or auction—think of it as a reserve or floor that a stock must meet to qualify for certain actions. It matters to investors because falling below that floor can limit trading options, trigger compliance measures or delisting risks, and affect liquidity and the perceived value of a holding, much like a reserve price in an auction sets the baseline for a sale.

compliance period regulatory

"the Company has a compliance period of 180 calendar days, or until November 2, 2026"

A compliance period is a defined stretch of time during which a company must meet specific legal, regulatory, or contractual rules and reporting requirements. Think of it like a scheduled inspection window or a homework deadline: failing to satisfy the rules within that window can trigger fines, restrictions, or extra oversight, so investors watch compliance periods as signals of near-term legal risk, potential costs, and impacts on a company’s operations or cash flow.

AI-generated analysis. Not financial advice.

BEIJING, May 6, 2026 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that on May 4, 2026, 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. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "RCON".

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until November 2, 2026 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the minimum bid price requirement by November 2, 2026, the Company may be eligible for an additional 180 calendar day grace period.

About Recon Technology, Ltd ("RCON")

Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of 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 within several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major 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 press 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-F and any subsequent half-year financial filings on Form 6-K filed 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.

 

View original content:https://www.prnewswire.com/news-releases/recon-receives-nasdaq-notification-regarding-minimum-bid-requirements-302764306.html

SOURCE Recon Technology, Ltd

FAQ

What did Recon (NASDAQ: RCON) disclose about the Nasdaq minimum bid requirement on May 6, 2026?

Recon disclosed receipt of a Nasdaq deficiency notice after its closing bid stayed below $1.00 for 30 consecutive business days. According to the company, trading will continue uninterrupted while it has a 180-calendar-day compliance period to regain the $1.00 minimum bid.

How long is Recon's Nasdaq compliance period and what is the deadline for RCON?

Recon has a 180-calendar-day compliance period that expires on November 2, 2026. According to the company, it must achieve a $1.00 closing bid for 10 consecutive business days within that window to regain compliance.

What exactly must RCON do to regain Nasdaq compliance during the compliance period?

RCON must record a closing bid price of at least $1.00 per share for 10 consecutive business days. According to the company, Nasdaq will confirm compliance in writing once that condition is met.

Will Recon's Nasdaq listing be suspended after receiving the deficiency notice?

No, Recon's ordinary shares will continue to trade uninterrupted on Nasdaq despite the notice. According to the company, the deficiency notice has no immediate effect on the listing while the compliance period is active.

What happens if Recon does not regain compliance by November 2, 2026 for RCON?

If Recon does not regain compliance by November 2, 2026, it may be eligible for an additional 180-calendar-day grace period. According to the company, eligibility for the extra period is conditional and not automatic.

Does the Nasdaq notice on May 4, 2026 affect Recon's daily trading or financial reporting?

The Nasdaq notice does not affect daily trading—shares will continue trading uninterrupted. According to the company, the notice is a disclosure obligation and does not change current trading or reporting status.