Recon Technology, Ltd. Class A Ordinary Shares
RCONRecon Technology, Ltd. is a China-based provider of integrated oilfield services. The company primarily offers digital oilfield solutions, equipment sales, and technical services to oil and gas exploration and production companies. Recognized for its focus on technological innovation, Recon aims to enhance operational efficiency for its clients in the energy sector.
Company News
Recon Technology reported a 3.7% revenue decrease to RMB66.3 million for fiscal year 2025, with reduced performance in oilfield services and ongoing construction of a chemical recycling factory. Despite challenges, the company expanded its client base and reduced net losses.
Recon Technology completed construction of a 40,000-ton-per-year waste plastic chemical recycling plant in Shandong, investing over $15 million. The project aims to produce 30,000 tons of plastic pyrolysis oil and 6,000 tons of carbon residue annually, with expected launch in December 2025.
Recon Technology Ltd. has been awarded a $5.85 million contract to upgrade and retrofit automation systems for a large gas field in Mid-Asia, with services expected to be completed within the next calendar year.
Recon Technology's (RCON) short percent of float has risen 6.06% since its last report, indicating increased bearish sentiment. The company has 27,000 shares sold short, which is 0.35% of all regular shares available for trading. Traders would take 5.61 days on average to cover their short positions.
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